My Zelle problem - looking for help/advice

January 10, 2021, 11:34 AM

Marc1911

Can't your bank identify the bank the money was transferred to? There has to be an electronic record of the transaction.[/QUOTE]

As I stated in my original post, I have disputed the transfer with my bank. They will deal with the other persons bank, etc. However, none of that information is available to me, nor will it be.

January 10, 2021, 11:45 AM

irreverent

quote:
Originally posted by bigwagon:
quote:
Originally posted by braillediver:
quote:
Originally posted by bigwagon:
they are just choosing not to.

The banks are not obliged to, the service was never designed to. It's not the banks place to arbitrate something like this.

I get that, but it's still a business decision they have made. And a shitty one if you believe part of the function of a bank is to protect their customers' money.

Not shitty. Common sense. You can’t expect them to protect everyone from themselves. And that’s what would happen if they do it for one, they’d have to do it for all.

January 10, 2021, 11:46 AM

Marc1911

The link on the first page describes how to "Cancel a Zelle Payment if You Sent Money to the Wrong Person". That seems to be your only recourse- Have you done that?[/QUOTE]

Yes I have, but that function does not work if the funds have already been deposited into the person bank account. If the person has a Zelle account it is deposited within seconds of transmission. So the only way that process works is if the person receiving the money doesn't have a zelle account at the time you send them the money.

January 10, 2021, 11:48 AM

bigwagon

quote:
Originally posted by Marc1911:

As I stated in my original post, I have disputed the transfer with my bank. They will deal with the other persons bank, etc. However, none of that information is available to me, nor will it be.

So what is your bank's stance on helping you recover the money? Are they telling you that you're shit out of luck and on your own or will they attempt to assist you?

January 10, 2021, 01:47 PM

Rey HRH

quote:
Originally posted by bigwagon:
quote:
Originally posted by braillediver:
quote:
Originally posted by bigwagon:
they are just choosing not to.

The banks are not obliged to, the service was never designed to. It's not the banks place to arbitrate something like this.

I get that, but it's still a business decision they have made. And a shitty one if you believe part of the function of a bank is to protect their customers' money.

My bank stopped a Zelle transfer of $300 I made to someone as a graduation gift. I called and I was grilled with questions like do you know this person? Have you ever met this person face to face?

They wanted to be sure I wasn't being scammed. But I was certainly pissed that my bank would stick their nose in my business.

So you have that side of the coin.

"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.

January 10, 2021, 02:39 PM

bigwagon

quote:
Originally posted by Rey HRH:
quote:
Originally posted by bigwagon:
quote:
Originally posted by braillediver:
quote:
Originally posted by bigwagon:
they are just choosing not to.

The banks are not obliged to, the service was never designed to. It's not the banks place to arbitrate something like this.

I get that, but it's still a business decision they have made. And a shitty one if you believe part of the function of a bank is to protect their customers' money.

My bank stopped a Zelle transfer of $300 I made to someone as a graduation gift. I called and I was grilled with questions like do you know this person? Have you ever met this person face to face?

They wanted to be sure I wasn't being scammed. But I was certainly pissed that my bank would stick their nose in my business.

So you have that side of the coin.

I think there is a difference between a bank butting in on your transaction vs. offering/providing help after the fact at your request. But it's probably a related issue, because if the system is set up to essentially be non-reversible, before/during the transaction may be the only time they can reasonably act to protect your interests.