What Is Zelle Scams.Zelle application is One of the most commonly used mechanisms to pay in foreign currency.This electronic payment system has an advantage: it does not charge a commission . Another benefit is that you execute the transfer immediately.
How do Zelle scams work?
Nowadays it is very common to find in commercial premises signs that say: “We accept Zelle”. In order to use this app, the sender and receiver must have bank accounts in the United States and both must be registered with the service.At the time of making a transfer, Zelle users receive an email by confirming the transaction with the sender, and the amount in foreign currency and the date. For some people, this confirmation is enough to terminate a payment. Several cases of scams have already been reported related to sending an email that pretends to be this official notification from Zelle, but in reality it is a very careful design simulation.Scammers basically build fake images, similar to transfer forms and vouchers, so that victims do not check their bank accounts for some time.
How to protect yourself from What Is Zelle fraud?
In principle, it must be understood that Zelle is not a mobile payment like the one offered by Venezuelan banks. It is a mechanism that is under permanent observation by the US authorities and it is recommended not to use this method of payment with strangers or in stores that only visit once.
The second is that when you make a purchase of foreign currency or even when you are going to receive a payment for the sale of a product or a job, check your bank balance directly on the web or in the mobile application of the financial institution. This involves taking an additional step, but it is necessary to be sure that the agreed amount was actually added to your bank account.
It is recommended not to use this means of payment with strangers if the transaction is very high.But not everything is rosy. Zelle users are discovering that there is no fraud protection..