Zelle fraud emergency kit and FAQ

Source: Bob Sullivan, The Red Tape Chronicles

I’ve been writing about fraud at Zelle — and the mishandling of Zelle fraud claims by big banks — for more than a year now. I’m creating this page to be an ongoing resource for victims. Zelle is designed to make it easy to give $20 or $40 to pay a friend after lunch together.

Zelle is backed by big banks, so should I expect the same fraud protections? NO, NO, NO.  Zelle is not like a credit or debit card. You can’t call a bank and reverse a transaction or dispute a “charge.” 

If your Zelle account was hacked, you are indeed entitled to dispute this authorized transaction, and to get your money back. The bank has 10 days to investigate and issue a provisional credit (or not). Start thinking: How can you prove it wasn’t you?  Your detailed cell phone records might help.

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