The rise of peer-to-peer payment services like Zelle and Cash App has made sending money to friends and family more convenient than ever. However, this convenience also comes with risks, particularly the potential Cash and Zelle scams. If you’ve fallen victim to a scam involving Zelle or Cash App, you can make your bank refund the scammed money. Here’s a detailed look at what you can expect and the steps you should take.
Understanding Zelle and Cash App
Zelle is a digital payment service integrated with many major banks, allowing users to send money directly from their bank accounts to businesses or individuals. This service is integrated into your bank account by many banks. You can choose not to use it, but you cannot turn it off.
Cash App, on the other hand, is a standalone app, like Venmo, that links to your bank account or credit card to transfer funds. Both platforms are intended for secure, instantaneous transfers between people who know and trust each other, making them less suited for transactions with unknown parties.
How People Become Victims of a CashApp Scam or a Zelle Scam?
Scams involving Zelle and Cash App can take many forms, including:
- Impersonation Scams: Fraudsters pose as legitimate entities, such as utility companies or government agencies, to trick you into sending money.
- Purchase Scams: Scammers offer goods or services, collect payment via Zelle or Cash App, and then disappear without delivering the promised items.
- Phishing Scams: Fraudsters trick you into sharing your account credentials, then use Zelle or Cash App to transfer money out of your account.
- Hacks – You lose your phone and someone breaks into it and finds your CashApp, Zelle or Paypal. Breaking into phones is easier than you think.
Steps to Take if YOU have been a Victim of a CashApp Scam or Zelle Scam
- Report the Scam Immediately
- For Zelle: Contact your bank or credit union directly. Due to Zelle’s integration with your bank or credit union, they manage fraud reports.
- For Cash App: Open Cash App, navigate to the transaction in question, and select “Need Help & Cash App Support” followed by “Dispute this Transaction.”
- Notify Your Bank
- For Zelle: Contact your bank’s customer service to report the unauthorized transaction.
- For Cash App: If your account is linked to your bank or debit card, inform your bank about the fraudulent charge.
- File a Complaint
- Report the scam to the Federal Trade Commission (FTC) via IdentityTheft.gov.
- Consider filing a report with your local police department to document the incident.
- Monitor Your Accounts
- Keep a close watch on your bank and app accounts for any additional unauthorized transactions.
Factors to Consider When Disputing a Bank Transcation.
The likelihood of getting your money back from a CashApp Scam depends on several factors, including the nature of the scam and the time that you took to report the incident. Here is a closer look based on platform:
Zelle
- Consumer Protections: Zelle transactions are typically treated as cash transfers, offering less protection than credit card transactions. If you authorized the payment, even if you were tricked, it is considered a valid transaction. However, if the transaction was unauthorized (e.g., due to account hacking), your bank may be able to help.
- Bank Policies: Many banks have specific policies for handling Zelle fraud. Some may offer reimbursement for unauthorized transactions if reported promptly. Check your bank’s policy and act quickly.
Cash App
- Refunds: Cash App’s policy states that payments are instant and usually irreversible. However, you can dispute unauthorized transactions or report scams through their support channels.
- Linked Accounts: If your Cash App is linked to a credit or debit card, you may have additional protections through your bank’s fraud prevention policies. It is essential to notify your bank immediately.
What the law says about unauthorized use of your Cash App or Zelle Account.
So long as you did not give your creds to anyone and the transaction was unauthorized by you, you can get anything over $50 back if you notify your bank within 2 days of learning of the loss. If you notify the bank between 2 and 59 days of the loss, you can get everything back over $500. After 60 days, you eat the entire loss.
What to expect if you dispute unauthorized Zelle or CashApp charges
You can expect that your bank and Cash App to fight you every step of the way. What the bank and Cash App don’t want you to know is if they lose the dispute, they have to pay you damages along with attorney’s fees and costs. This is why it is always recommended to have an attorney represent you in disputes with Zelle and Cash App.
Many banks, in our experience in suing them, are pretty sure that you wont fight back when they decline your dispute. You don’t have a victim of CashApp scams or Zelle scams. We can fight back for you, get your money back and it will not cost you anything out of pocket.
If you have been victimized in a CashApp Scam or Zelle scam, don’t let the bank keep you as a victim. Let us get your money back for you.
Call us at Credit Repair Lawyers of America at (404) 591-6680 for a free, no obligation consultation. Talk with an attorney today to learn your rights and get free advice. If you have a good case, we will not charge you anything out of pocket to pursue your claim and get your money back from the bank. You can also visit us at www.crlam.com for more information or email us at [email protected].
Attorney Gary Nitzkin
Credit Repair Lawyers of America
(248) 353-2882
