In itself, no it is not. But it can be used very easily to set up one. Why use something like Zelle, when you can use a reputable credit card service, and have some recourse if things happen to go south?
Zelle scams?
- Thread starter measureman
- Start date
You're a man after my own heart. I'm much better than throwing things out, than I am at selling them.
Zelle is a payment transfer method and a very good one compared to paypall, venmo, cash app, checks, and ach transfers. If a bank supports it then on the bank app you'll be able to send and receive money directly within a minute with zero fee as PayPal and venmo will take days unless you pay to expedite them. Echecks and ach transfers also take some business days.. Zelle is great. Can't really call it a credit card service. I use it since it's just great. Usually don't bother with echecks or ach transfers anymore. But i do believe you may be able to have the funds refunded if it hasn't left the account it was directly linked to for the deposit.
I don't and won't use ANY of what you just mentioned. (Except for sending an occasional check). I've never had a problem using Visa for any online purchase. Amazon or otherwise. I tend to stick with what works.
As with anything you have to understand how it works and what the risks are and determine if it meets your needs. There is nothing inherently bad about any of the P2P payment platforms when used properly.
You do realize that when you send a check you are sending all of your account numbers right in the open unencrypted on a piece of paper.
Yes. But I've done it for over half a century, and never have had a single issue. And even if a check were to be washed, copied and or forged, you will get all of your money back from the bank. You have recourse. With Zelle you have none.
Also, in comparison how long has Zelle been around compared to all the hell that's been raised about it, and people that have been scammed by using it?
Got another one today that sounds like the first one using a different user name.
Is the furniture still available?
Yes it is.
Good,I'll have my brother pick it up and send you the money.
No,it's cash only on pick up.
Silence.
What is so hard to understand about cash only?
Is the furniture still available?
Yes it is.
Good,I'll have my brother pick it up and send you the money.
No,it's cash only on pick up.
Silence.
What is so hard to understand about cash only?
You can't get screwed receiving money from Zelle, but you can get screwed sending it if you make a mistake. The rub is there is no recourse if you send to the wrong person by mistake. You would have to eat it. You hear about it a lot because people get tricked into sending money or tricked into giving another person control over the account. The same person may also be scammed into giving someone access to their bank account.
To use an apps like that for sending money to a friend, relative, or family member is fine. Or someone you know and trust. But for making online purchases, where there is always a chance of not getting what you ordered, or something being fraudulent, there is nothing better than using a major credit card. You always have recourse if something goes wrong. And it's usually painless.
In order to use Apple Pay you need to have a card entered into the app. It can be any credit or even debit card. I use the Apple Card.
This will apply to most major payment apps.
So for example, I just bought something either online or at a store. I double click my side button, the iPhone checks my FaceID to make sure it’s me and it’s done.
Exactly. Right now reloading components are expensive, and in short supply. Powder, primers, bullets, and cases. Scams are everywhere. They're easy to spot. Most will advertise everything on their website is in stock, and ready to be shipped. And most all of it is at normal prices, that are all much lower than everyone else.
Then you find out they don't accept major credit cards. But they will accept Zelle, Venmo, Cash App, Paypal, and all the rest. These payment methods are not "scams" in themselves. But they seem to be used by most every scammer out there. Personally I would never pay for anything with one.
I've been using nothing but major credit cards since I first started purchasing things online. I've never had a problem. So I see no reason, or advantage to change now. And I would never use a phone to pay for anything.
Zelle was started by, and is owned by members of the banking cartel (JPMC among them). As the tech companies have encroached on the banking industry's turf, it is their entrant in the mobile/instant payments segment.
As a relatively new product, it's not going to be encumbered with as many regulations, or attract oversight unless it becomes a big enough issue to wake the regulators/legislators, and prompt action. Recall that when debit cars first appeared, they lacked protections, and it was up to each bank to set their own policies against misuse and fraud. Needless to say, there were few, and people lost money. It wasn't until there was enough of an outcry that goaded banks into instituting protections, and now they're a common part of the financial system. The policies that protect users from credit card fraud didn't spring from the banks' own good will either.
Caution is advisable, and skepticism is healthy, but blissful ignorance isn't as effective a protection as one might think.
As a relatively new product, it's not going to be encumbered with as many regulations, or attract oversight unless it becomes a big enough issue to wake the regulators/legislators, and prompt action. Recall that when debit cars first appeared, they lacked protections, and it was up to each bank to set their own policies against misuse and fraud. Needless to say, there were few, and people lost money. It wasn't until there was enough of an outcry that goaded banks into instituting protections, and now they're a common part of the financial system. The policies that protect users from credit card fraud didn't spring from the banks' own good will either.
Caution is advisable, and skepticism is healthy, but blissful ignorance isn't as effective a protection as one might think.
