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
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.
As stated in other comments, terms and conditions are a part of it. The other part is, with Zelle (or ACH ,Wires, Etc.) you gave the bank instructions, and they followed them. It’s not their responsibility to fix your mistake. It’s yours. The bank might be willing to request the money back, but there are no guarantees.
If the bank made a mistake, they would make you whole, whether that means getting the receiving bank to return the money or paying out of their pocket.
Because it’s their business and they make the rules.
You go to 7-11 and get 11 packs of gum, the cashier only rings you up for 10, they then notice after completing it on their register that it was 11. The cashier has every right to require you to pay for that extra pack.
Not the same, but I once had someone pull back funds on Venmo. The whole thing seemed like a scam though honestly.
They sent me $20, then the next day requested the money back, claiming that they sent it by mistake to the wrong John Doe please return
I thought that was very suspicious at worst, or very careless at best, so I ignored the request in case it was something shady.
They sent another request the next day again, which I ignored.
On the 3rd day, Venmo refunded the $20 directly from my account.
I still think it might have been a scam all along, but I guess I’ll never know. Maybe they are trying to verify active accounts or something so that they can determine who to pursue? I have no idea.
There is a problem with your premises:
> If I Zelle the wrong person, I am straight SOL.
This is not necessarily true. Zelle is currently under active investigation for whether its (in)action in these cases is actually legal or not. [Example source](https://www.warren.senate.gov/oversight/reports/new-report-by-senator-warren-zelle-facilitating-fraud-based-on-internal-data-from-big-banks).
Zelle is not a bank. It’s basically some guy (some company).
If they decide you’re fucked you have no recourse other than to sue. And at that point you need to determine if a lawyer is worth the amount you’ll recoup.
Don’t use Zelle if you know you’re the type of person that fucks up. They’re not gonna help you.
There is a problem with your premises:
> If I Zelle the wrong person, I am straight SOL.
This is not necessarily true. Zelle is currently under active investigation for whether its (in)action in these cases is actually legal or not. [Example source](https://www.warren.senate.gov/oversight/reports/new-report-by-senator-warren-zelle-facilitating-fraud-based-on-internal-data-from-big-banks).
Because it’s their business and they make the rules.
You go to 7-11 and get 11 packs of gum, the cashier only rings you up for 10, they then notice after completing it on their register that it was 11. The cashier has every right to require you to pay for that extra pack.
Zelle is like the post office. If you send someone a letter with cash, but you write the wrong address, it isn’t the responsibility of the post office to get it back for you.
Zelle is like the post office. If you send someone a letter with cash, but you write the wrong address, it isn’t the responsibility of the post office to get it back for you.
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