Zelle is ultimately a bank transfer. Yes they say to consider them like sending cash, but a bank transaction is at least tracable to a real account owner, who could then be pursued in the case of fraud, and it well might be reversible if push came to shove or if there is documented fraud.
When I was "hacked" two years ago, their final hurrah before I finally got everything offline for a time, they sent zelles as much as they could and was able to recover it without any loss on my end.
If my bank money gets stolen from me via fraud (unless I literally just Zelle the scammer), I get it back. That's the big difference.
Zelle is ultimately a bank transfer. Yes they say to consider them like sending cash, but a bank transaction is at least tracable to a real account owner, who could then be pursued in the case of fraud, and it well might be reversible if push came to shove or if there is documented fraud.
I can walk into a bank branch and show documents.
I guess I can walk downtown to CB HQ, but something tells me I won't get past the front desk.
Can you show us that? Where the consumer is left with no money at all and bank does not take the loss.
Go Zelle someone and try to get the money back.
When I was "hacked" two years ago, their final hurrah before I finally got everything offline for a time, they sent zelles as much as they could and was able to recover it without any loss on my end.