The intent (which is how law and regulation are interpreted), as expressed in the regulator comments on the regulation (e.g. 2(m)-4 at the link above), was to m

The intent (which is how law and regulation are interpreted), as expressed in the regulator comments on the regulation (e.g. 2(m)-4 at the link above), was to make sure the cost, to consumer, of using electronic services, is the same as having a human do the task. Just imagine calling, or going to the bank to make a similar transfer to a scammy zelle one. I assure you the person you'd be speaking to would have to ask you some very pointed questions about that transfer, and not out of the goodness of their hearts. banks try to replace humans with software to reduce their costs; reg E basically is "you're only allowed to harm your own workforce doing so, not your customers"