Scammers love Zelle. The P2P payment service that’s built into most US banking apps allows you to instantly transfer money to someone and have it deposited in their bank account instantly. It’s very convenient, but it has a big red flag attached to it—once the money leaves your bank account, you’re probably not getting it back unless the other person manually transfers it back. And despite the fact banks do warn users about this, scams and fraud schemes involving Zelle are still rampant. Now, Zelle might actually do something to curb that situation.
