Zelle Recipients in Another Country Confuse Everyone
11 posts across 3 communities in the last 60 days; 73% from r/Banking.
“I'm not trying to be rude but they have literally told you the issue and you mention being a new customer. Occams razor and all of that but 2+2 really does equal 4.”
“Bigger issue is if account online access gets compromised. The security involved in initiating a Zelle transfer might be less than initially setting up Zelle. It might be possible to set up two-factor authentication or the like though. Also may be possible to suspend Zelle after…”
“Zelle is only used in the USA. If you don't have a US bank account (and not every US bank), you cannot use it.”
Several users are expressing confusion and anxiety regarding Zelle transfers, specifically concerning the recipient's location and ensuring funds reach the intended party. There is a sense of uncertainty about the process and potential complications.
SOURCES (43)
“Fair points. Protection aside, an instant transfer via zelle to oneself or another party is what I believe to be the same type of transaction. I'm always learning and appreciate your input.”
“I mean. A wire transfer and a check given to someone and an ACH and a PayPal payment. Just because they transfer to different accounts under different peoples names doesn't make them the same type of transaction and doesn't make them get any of the same protections again just because you want that.”
“Some banks charge for outgoing transfer requests. It's getting less and less common.”
“Thanks for the reply. Yes,I understand and can see how it can get hairy. This definitely depends on how the phone account was set up in the beginning versus adding lines later because each individual line can have its own distinct Caller ID name (known as CNAM). I believe adding a line later will associate the new phone number with the primary account holders caller ID. I didn't think zelle connected a name with the phone number only a OTP one time password sms text.”
I haven't seen any fees no matter where it is initiated from.
“my brother works in banking and he said that mentioning Cuba also flags you. so if you ate at a Cuban restaurant and sending your portion of the check by Zelle, better to just put “lunch” in the memo”
“Or an email. Zelle is linked to your bank account. Then you can just use your debit card”
“Schwab checking is free to hold and refunds any fees from all atms in the world You can Zelle money to her instantly to/from any US bank. Egypt isn’t really relevant here”
“I'm not trying to be rude but they have literally told you the issue and you mention being a new customer. Occams razor and all of that but 2+2 really does equal 4.”
“The banks are protecting you for a reason and it’s because you are likely falling victim to a romance scam and are tripping every red flag in the process. I agree with u/beneficial _pickle322 - this whole situation is sus and very likely will ghost you or keep farming you for more and more money.”
“and then she asked for money… and you just gave it 🤦♂️ I guess take it as a life lesson learned”
“They compromised an account and sent the money fraudulently because I think the only time Zelle will ever return money is anything that's fraudulent.”
“How is this a scam? I don't get it. I thought the whole purpose of Zelle is that once you send it, you are screwed, the money is gone, and the other person has it forever. I've used it a few times selling an item and having someone pay me with Zelle because I'm not Best Buy, I don't have a return policy.”
“Yeah we did the sale in person as i physically brought him the item I was there as he set up the zelle and scanned my qr code then he showed me a email from Navy federal im just confused why I dont have anything pending on my end. Unless its sending it as a ach.”
“...which is a convenient excuse for not having any safeguards. People on these message boards talk about Zelle like it is just a quicker ACH. It is not. It is, IMHO, a dangerous system and that is why there is lots of fraud associated with it. I'm fine with the ACH system.”
I concur. I spent a few minutes reading the Zelle Terms and Conditions and there were multiple ways banks can escape any liability. I didn't trust it after reading Zelle's user agreement.…
“Not the money transfer time part. Completing a transaction is much more clunky. You’re also at the mercy of your bank app’s implementation so the experience is inconsistent”
Most banks don't, none charge when it's initiated from the other side.
“It helps to top up your bank account for incoming payments or to take money out or use the debit card. Zelle is usually instant, while ACH takes at least a day. If you go negative by mistake or want to withdraw some unexpected cash, Zelle is secret option. I personally keep money in a high yeaild online savings while I get my paycheck to major bank (because I want good branch access and you can only get the account for free if you're getting your paycheck to it), So Zelle is a quick way to m”
“Bigger issue is if account online access gets compromised. The security involved in initiating a Zelle transfer might be less than initially setting up Zelle. It might be possible to set up two-factor authentication or the like though. Also may be possible to suspend Zelle after setting it up.”
“Zelle works fine. Been using it for years. Just make sure you know whether the recipient uses their cell number or email as their Zelle ID otherwise the transfer can get lost in the ether and it’s a pain to get it sorted out.”
“No. Zelle does not give the individual access to ACH. Nobody sees anyone else's account number.”
“I know my bank used to offer pop money but got rid of that option when Zelle came out”
“Zelle is only used in the USA. If you don't have a US bank account (and not every US bank), you cannot use it.”
“Forget about the Z website. You need to do whatever through your bank. If it isn't available, you can't use it.”
“So connecting my account through the website works? I fully logged in. My phone number is the same for both?”
“When I link a bank through the Zelle website b/c the app isn't allowed in my country, does the account immediately assume the user info I gave the bank? ie. my phone number and email? I'm confused on how to check my Zelle account, which is the advice that the Zelle customer service worker gave me. submitted by /u/owdihwaoudhoians [link] [comments]”
“https://preview.redd.it/07l9ib2gmldh1.jpeg?width=1206&format=pjpg&auto=webp&s=4568d22ffd8e98c9db53dee17f3c3a2001e0ec01 Just did this after getting your response. Put in my email and it’s telling me I can unenroll it from my Capital One Zelle. Same would happen if you did your phone number. And this is thru the PNC app. Done it plenty of times to get banks cash bonus for opening new accounts.”
You can not use one email address on two different Zelle accounts.
“I’ve processed thousands of Zelle transactions and never once got “hacked”, nor have I heard anyone with average intelligence getting “hacked”. Fraud is fraud. Not hacking.”
“Ughhh please, I started to think about that again, I think maybe she is in another city”
“Yeah, he gave me money, I have the name of the person he wanted to send money too, so I hope it won't be a problem”