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I've used banks and cards to help resolve fraud. Rarely, but I love it. And now the bank pushed me to use Zelle - which has zero protection.
by djbusby 4y ago
I've used banks and cards to help resolve fraud. Rarely, but I love it.
And now the bank pushed me to use Zelle - which has zero protection.
- lxgr 4y ago> [...] bank pushed me to use Zelle - which has zero protection. Also channeling patio11 [1]: This is actually a pretty interesting ongoing experiment as to whether banks can opt out of Regulation E. [1] https://twitter.com/patio11/status/1500993875627761666 https://twitter.com/patio11/status/1500993875627761666
- throwaway2037 4y agoNo kidding. Zelle looks so dangerous from consumer point of view. It is so easy to get scammed and almost impossible to be made whole. I am fine with Zelle if banking regulators require Reg E. The best part of Reg E: Since banks are almost completely responsible for fraud in their customers named, they take it very seriously!
- jchw 4y agoTo be fair, the trade-off is that there aren't any fees and it's nearly instantaneous. For the type of transaction similar to handing someone you know a wad of cash, it seems pretty good.