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anyone use Zelle?
 

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Sparky
Joined: 08 Dec 2003
Posts: 17916
Location: Portland, OR

1/7/20 5:48 PM

anyone use Zelle?

Question is really how secure is the droid app. I am old school and trust my PC only for PayPal [and now Zelle] perhaps an errant trust.

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Craig
Joined: 12 Jan 2004
Posts: 580

1/7/20 9:02 PM

In Canada we can log into our trusted major bank accounts and send money to anyone with an email account or a cell phone number, as long as they have a bank account as well. Does this not exist in the USA yet? No fees above normal monthly "unlimited" transaction fee of about $14. Always thought this was a "cash app" killer. And surprised it isn't universal yet.

But, sorry, to your original question, no idea. Zelle? Do we need this?

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Sparky
Joined: 08 Dec 2003
Posts: 17916
Location: Portland, OR

1/7/20 11:14 PM

Zelle is what my Bank Of America used to transfer logged into bank acct via PC.

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Craig
Joined: 12 Jan 2004
Posts: 580

1/8/20 12:29 AM

Well, TheInternet™ has this to say about Zelle:

https://financegourmet.com/blog/banking/zelle-scam-legit-zelle-review/

scroll down to the comments.

NBC News agrees.

https://www.nbcnews.com/business/consumer/instant-fraud-consumers-see-funds-disappear-zelle-account-scam-n1015736

CBS Local news in Chicago as well:

https://chicago.cbslocal.com/2019/11/19/how-to-avoid-zelle-scams-and-fraud/

Sounds like some of it might be user error etc. But it seems like an exploitable money transfer app without much in the way of protecting you and your money.

If Bank of America uses it exclusively maybe it's time to look for a different bank?

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walter
Joined: 11 Jan 2004
Posts: 4389
Location: metro-motown-area

1/10/20 12:54 PM

my bank uses it...

...jp morgan chase.

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Sparky
Joined: 08 Dec 2003
Posts: 17916
Location: Portland, OR

1/10/20 1:28 PM

I would not have started another service if not embedded into the BOA site, no redirect. that woulda been a deal breaker.

I installed the droid app, and took it off when it asked me to give it permissions I wouldn't.

PayPal is something I have used for 100 years, and will stick with it. But as with this transfer, upon request I'd do it via my BOA secure login/site again. At least at this point. It was to a friend and not a stranger as well. yada

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KerryIrons
Joined: 12 Jan 2004
Posts: 3069
Location: Midland, MI

1/11/20 9:40 AM

Centennial


quote:
PayPal is something I have used for 100 years


Oh Sparky, thy name is hyperbole'

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