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"Consumers defrauded with cash are left high and dry by the Federal Reserve Bank that created it".
by NovemberWhiskey 3y ago
"Consumers defrauded with cash are left high and dry by the Federal Reserve Bank that created it".
- akira2501 3y agoDid the Federal Reserve promise me that cash was always "safe, fast and convenient?" Are they getting a cut of every dollar I spend?
- m_0x 3y agoThey get a cut after every dollar created.
- mark_up 3y ago[dead]
- stu2b50 3y agoWhat part of Zelle isn't safe, fast, and convenient, that is actually scoped under Zelle's responsibilities? Zelle is for moving money from bank account A to bank account B - that's where its responsibilities end. > Are they getting a cut of every dollar I spend? They aren't.
- hot_gril 3y agoI'm fine if a payment method is escrow-free and non-reversible, and I'm told that upfront. Oddly enough, that's like a rare luxury. Even Zelle is only half that: authorized payments are never reversed (i.e. they don't act as an escrow), but unauthorized ones (hacked account, etc) can be. This is posted somewhere, but I also tested it myself. Previous landlord had stolen my security deposit. I went to my Chase branch and called several different numbers trying to reverse the final month's rent, which had been Zelle'd. After initially getting the half-truth that payments cannot be reversed, I found the right person who asked sternly if the payment was unauthorized, saying I could reverse it if it was. I had to say no. So no dice, I had to go sue the landlord instead.