![]() ![]() For example, in Germany, you have up to 13 months to challenge an unauthorized debit. It’s certainly true that other countries have stricter consumer protection regulations. laws don’t protect consumers when they make money transfers, that belief isn’t grounded in reality. While there’s a widespread belief that U.S. Conventional wisdom is that there are zero consumer protections. ![]() Pauleen’s case exposes one of the biggest misconceptions when it comes to American money transfers. “Keep in mind that sending money with Zelle is like using cash,” it says. ![]() And if you send money to someone you don’t know for a product or service, you may not get your money back for a product or service that’s not delivered. “My daughter really needs the money back to pay her rent.”īut Zelle’s terms are clear: You can’t cancel a payment once it’s been sent if the recipient is already enrolled with Zelle. “I would like to get the $1,725 back from the person who received it in error,” she says. If you have a Zelle problem, can you get your money back? That’s what Pauleen wanted to know.įlyWithWine markets luxury wine and travel accessories from its base in Napa Valley, and is the exclusive distributor of VinGardeValise® wine suitcases, which are designed with safety, security, and quality in mind ensuring that your wine, beer, or spirit bottles arrive in one piece along with your personal effects for your travels. If you’re the victim of a Zelle scam, can you get a refund? Fortunately, there are strategies to recover your money and regulations that will help you do it. The Consumer Financial Protection Bureau (CFPB) is reportedly preparing new guidance that would require banks to reverse fraudulent transfers.Īnd there are so many ways to lose money, not only through Zelle, but other money transfer services like PayPal and Venmo. There’s an ongoing class action suit against Bank of America that claims the financial institution downplayed “huge” security risks of linking Zelle to one of its bank accounts. Zelle, a peer-to-peer payment app, is under fire for enabling fraudulent transfers between customers and scammers.
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