Quote:
Originally Posted by tracer bullet
Zelle is basically for paying friends or family. They say it up front on their website. Dig a little and it has no fraud protection, no refunds, no take-backs. Send money via Zelle to someone you don't know and it's pretty much gone forever, cross your fingers you get whatever it is you paid for. There are far better options to buy things from strangers on the internet. Anytime we'd see "Western Union" it'd raise flags, Zelle is no different. The service is fine, using it to pay strangers is not.
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Thank you. That’s kind of what I figured they all were talking about but you went into detail and I appreciate that. Also, you are correct anytime I make a Zelle transaction on Chase they give explicit warnings about it. Just like if you send a wire transfer to someone. Once the recipient of the wire receives the money and a short amount of time passes by, less than 24 hours, that money is gone forever. However once again, when I do wire transfers Chase gives explicit warnings, requiring my authorization and understanding of the consequences before they/we proceed.
Instinctively I guess without knowing any of this about Zelle, whenever I do business making a large purchase with someone I don’t know I have always insisted on using PayPal. However, after reading your post and this thread will definitely make sure I never use Zelle for anyone other than people I personally know even for small amounts. Thanks again