Today I took the plunge and allowed someone to pay me with Zelle.
I was told by my bank branch manager "Zelle cannot be reversed"
When I got the payment I called Chase customer support to verify it.
They told me "The funds are there and there is no way this can be reversed.
On these assurances I released the escrow.
30 minutes later I was trying to use my debit card and it declined.
I logged into Chase and it said my account was suspended.
I checked my email and I had a message from Chase, it said "Your payment from ... through Zelle has been reversed"
Chase literally lied to my face. Now they have closed my account. To make matters worse this is the first week of the month and they have clawed back everything and I mean EVERYTHING I had pending. My rent, my water, my gas, everything! I don't know what I'm going to do. Chase told me they have 180 days to give me back my money.
You'll notice I'm not blaming the schemy, scammy, scammer who scammed me. He passed the smell test and he had good feedback. I can't even be certain he initiated the chargeback that triggered the closure. All I know is there's an email saying my transactions are being reversed and I had literally no warning or no notice and suddenly my card declined when I went to buy groceries.
Mainly I'm pissed off because Chase lied to me about Zelle. Had I have known Zelle could be charged back I would have NEVER accepted it. But the branch manager literally told me to my face, "it's just like a bank wire. once you have it in your account they cannot reverse it." Also "oh don't worry this Zelle thing is just as easy as paypal but better because, no possibility of a chargeback because it's the same thing to us as a wire".
I trusted my bank, I trusted my branch manager. To me, they directly participated in fraud by lying to me.
So now I'm putting out the warning. Do not trust Chase and do not accept Zelle under any circumstances. It's just a bunch of scammy, scummy fraudsters who will tell you anything to get you to sign up and look you in the eye and lie to your face when questioned.
Then again, what should we expect from a company who names themselves Early Warning Services... https://www.earlywarning.com/
What about you? Do you have any horror stories with Chase or Zelle? Post and comment below, because after all...
Misery loves company... :(