Bank sends wrong person $ and it immediately has to be returned or charged will be filed. If I Zelle the wrong person, I am straight SOL. Why the difference?

Question

Exactly what title says, why is there no way to recoup zelle definitely or wire transfer(maybe?) but if banks send money to wrong person there are severe penalties for not returning.

In: 650

Answer 1

File charges, and the money will be returned.

Basically Zelle doesn’t want to go through the hassle, and risk of returning money. They’ll drag it out as long as they can, and try to point the finger. Banks do the same thing.