As fraud concerns loom, Chase fights Zelle scams on social media

The news: Chase will start to block more Zelle transactions that stem from social media marketplaces or messaging apps in order to protect consumers from scams, per The Verge.

  • Starting March 23, Chase will “delay, decline, or block” payments using its discretion and may also request more information when consumers add a payment recipient to Zelle.
  • Chase said Zelle was never intended to be used as a payment mechanism for buying things on social media. It’s designed to send money between trusted friends and family members.

You've read 0 of 2 free articles this month.

Get more articles - create your free account today!