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Theresa Stevens is a personal finance writer based in Boston, MA. Ultimately, theres only one way to ensure you dont get ensnared by a Zelle scam: Dont use Zelle. You can access Zelle one of two ways: through your financial institution or by using Zelle directly. Of course, none of this should be necessary. Zelle is fast, convenient and free and works similarly to cash. Once payment is sent to the sellers' bank account, they withdraw the money, close their account, and disappear without sending the promised item. 2023 Forbes Media LLC. Apple had an outstanding overall score of 76 out of 100. The funds are transferred quickly and there is no fee for the service. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. I am not an attorney so I cant give you any legal advice. Our help is free. These cookies do not store any personal information. Users transferred $187 billion in 2019 using Zelle, an increase of 57% since 2018. Do you use Zelle? Here's how to spot increasingly common scams But it turns out that Zelle's simplicity and speed,. Zelle App Review: Should You Use It to Send Money? - CellularNews The purpose of the Zelle service is to allow people in the United States electronically transfer funds from their bank to someone elses bank using either a mobile app or their banks website. 3. You might be using an unsupported or outdated browser. Zelle Vs. Venmo: Which To Use And When - Forbes Advisor They should know better. Complete its investigation within 10 business days. How to get your money back from a Zelle scam or accidental money It's a great way to pay friends, family, your coworkers and almost anyone else you trust, but it shouldn't be used to pay strangers. A graduate of Rice University, he has written for several Fortune 500 financial services companies.