KPRC 2 Investigates: Zelle fraud victims rarely get their money back
Chase, Bank of America, Wells Fargo... no matter which bank you use, you probably trust your bank to protect your money. But consumer advocates are calling out the nation's largest banks for giving thieves easy access to your cash through an app and platform they created. They say new numbers from some of those banks show just how much criminals are making from Zelle.
KPRC 2 Investigates 3 things to check now if you are using payment apps
Sending and receiving money has never been easier. With companies like Venmo, Zelle, Cash App and Paypal, you can pay for just about anything online with the click of a few buttons. But how safe is your money when you use these apps?
KPRC 2 Investigates new Zelle scam transferring thousands of dollars from bank accounts
Have you ever received one of those text messages that appear to be from your bank or a retailer confirming a transfer or purchase you didn’t make? By now, you likely know those messages are usually scams. The scammer wants you to click on the link so that you will give them your financial information. But this new scheme takes it a step further.
Here are 3 things you need to know about peer-to-peer payment apps
HOUSTON – Peer-to-peer payment apps make sending money to friends easy but if you’re not careful, a simple mistake could cause you to lose your hard-earned money. Despite the growing popularity of apps like Zelle, Venmo, and Cash App, most users never read the fine print or terms of service. If you accidentally pay the wrong person, most of the payment apps will not help get your money back. While your credit card offers fraud protection, allowing you to dispute charges, most payment apps do not. Read this story to find out how scammers can wipe out your bank account through these peer to peer payment apps.
This payment app scam could wipe out your bank account within minutes
But if you’re not careful, you could fall for a scam that could drain your bank account in seconds. "So, I went to my bank account and he was saying, 'Ma’am, you need to stay on Cash App. The man on the other end of the line wasn’t with Cash App at all but in less than five minutes, he nearly depleted Sakala’s bank account. Cash App responseCash App is aware of the scam and says you should only contact them through its app or website. If you believe you have fallen victim to a scam, you should contact Cash App support through the app or website immediately.