Chase Bank may block Zelle payments to social media contacts

Chase Bank may block Zelle payments to social media contacts as scams surge
Scams on Zelle, the digital payments app, have apparently gotten so widespread that Chase Bank is moving to block users from sending payments to social media contacts. Chase updated its user policy, indicating it may block these sorts of payments.
JPMorgan Chase launches new restrictions on Zelle after $870 million lost in scams at Chase, Bank of America and Wells Fargo
The controversial payment service Zelle has been used by fraudsters, leading to a massive lawsuit against the operator and three big banks.
Chase will start blocking Zelle payments over social media
Chase Bank is going to make it harder to use Zelle for transactions stemming from social media. In an update to its policy on Zelle, Chase says it may “decline or block” payments related to purchases from social media marketplaces or messaging apps, as spotted earlier by Bleeping Computer.
Chase To Block Zelle Social Media Transactions To Combat Fraudulent Payments
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Chase and Zelle, accusing the companies of failing "to protect consumers from widespread fraud."
Chase to Block Zelle Payments to Sellers on Social Media Amid Rising Scams
JPMorgan Chase Bank (Chase) is about to implement new restrictions on Zelle payments to combat a sharp increase in scams exploiting the digital payment service.
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Chase Says Making Payments Over Social Media Is Too Messy, Will Block Zelle Transactions
The policy, which will go into effect on March 23rd, 2025, will mark a level of increased scrutiny from Chase on any ...
The Daily Hodl2d
JPMorgan Chase Launching New Zelle Restrictions After Chase, Bank of America and Wells Fargo Customers Lose $456,000,000 To Scams in One Year
JPMorgan Chase is making major changes to the way its customers can use the payments service Zelle. Starting next month, the ...
Marketplace9d
Zelle processed $1 trillion last year, it says, setting record for payment apps
Almost three-quarters of U.S. consumers use mobile payment systems like Zelle, Venmo and Cash App, but regulation is limited.
American Banker3d
JPMorgan Chase plans Zelle restrictions due to scam risk
The amended language in the bank's terms and conditions will halt payments to social media sellers. It comes as banks on the ...
Chase’s latest move will help cut fraud, but Zelle users may not like it
Chase Bank will be blocking Zelle payments to sellers on social media platforms and messaging apps starting March 23.
FOX6 News Milwaukee on MSN1d
Digital dilemma: Are cash apps like Venmo, Zelle worth having?
Cash App is one of many popular peer-to-peer, or P2P, payment services like Venmo, Zelle and PayPal. Across the hall from ...
American Banker10d
Zelle passes $1T in 2024, with a boost from small businesses
The bank-owned payments app saw the number of total transactions jump 24% compared with 2023. Small business transactions ...