Zelle® Safety 101
April is financial literacy month and the perfect time to learn how to better manage your money and stay safe from scammers, especially when using convenient payment tools like Zelle®!
Zelle® is a convenient way to send and receive money with friends, family, and others you trust. However, scammers often use Zelle® because money is transferred within minutes and can be difficult to track. To prevent fraudsters from gaining access to your money and sensitive information, learn how to “pay it safe” with Zelle®.
Zelle® Safety Tips
- Only send money to those you trust. Zelle® should only be used with friends, family and others you trust because once you send a payment with Zelle®, you can’t always get it back.
- Treat Zelle® like cash. One of the perks of Zelle® is that you can send money However, once the money has been moved into the recipient’s account, like cash, you will not be able to retrieve it.
- Look out for fraud. Prevent unauthorized transactions on your account by adding another layer of protection to your payments. Here’s what you can do:
- Update your security settings in your Mobile Banking app to enable multifactor authentication, which requires a second step to verify who you are.
- Sign up for account alerts from the bank so you can be notified if there is suspicious activity on your account.
- Don’t share personal details such as location, home address, and phone number on social media.
- Use strong passwords and don’t share them with anyone!
- Confirm your recipient’s contact information. Verify the mobile phone number and email address of the person you want to send money to. It’s always good to double-check your friend’s information to avoid sending money to the wrong person.
- Use caution on Facebook and other online marketplaces. Look out for fake “sellers” who request that buyers pay for goods using Zelle®. It’s important to recognize that Zelle® is NOT intended to be used to pay companies for goods and services, or for merchandise purchased through online sites like Facebook Marketplace. If you encounter a suspicious buyer or seller, report them to the online marketplace immediately. Click here to learn more about common Zelle® scams. Remember, Zelle® does not offer purchase protection, so only send money to people you trust.
Remember: Scammers are always working to defraud you. Protect yourself by being vigilant and staying on top of the latest info on Zelle® fraud and scams. Visit our Zelle® page to learn more, including FAQs on when and how to use Zelle.®
bankHometown is looking out for you.
We’re committed to keeping you informed about the latest scams and ways to protect your money and personal information. For more information and valuable tools to help you from fraud, visit our Fraud Prevention webpage, stop by your nearest office, or call Customer Care at 888.307.5887.
