2 Must have a bank account in the U.S. to use Zelle. To help you stay safe, weve identified the most common Zelle scams you might encounter, as well as provided information on what to do if you accidentally fall for one. You can defend yourself against these types of attacks the same way that you defend yourself from phishing attacks, malware, and other social engineering attacks: Keep your data and personal information secure, don't divulge info to people you don't know, and make your passwords unique and strong. Zelle is safe, as long as you know and trust the person you're sending money to. ","anchorName":"#what-information-do-i-need-to-receive-a-money-transfer"},{"label":"Money transfer providers and required documentation","anchorName":"#money-transfer-providers-and-required-documentation"},{"label":"Am I required to share my Social Security number? 2. In essence, Zelle is a service used by bank customers to. If you useZellethrough your mobile banking app or online banking, please refer to your financial institutions privacy notice. We may ask for your SSN to verify your identity if you try to do any of the following: Send $300 or more in one week (rolling 7 day period) If you sent multiple payments to the recipient, you will need to complete a form for each payment. To report fraud or a scam please fill out the form on this support page. Plus, if you earn any interest, that can be reported to the IRS. One important note: Zelle isnt available overseas and cant be used for international transactions. Limit the use of sensitive personal information. 3. It describes the personal information we collect, how its used and disclosed, and the choices you can make. The bad news? Social engineering is when a scammer lies about their identity or goal to trick victims into giving them personal information. Catfishing or romance scams are also increasing in frequency. You may designate an authorized agent to make a request on your behalf. Plus, keeping large amounts of cash at home may appear suspicious to law enforcement, even if you're doing absolutely nothing wrong. The FBI warns about these phishing scamsthat lure you in and get you to take the bait, noting that any ploy that leads a victim to giving a scammer access to their Zelle account is extra risky. Usend combines money transfers, bill pay and mobile phone reloading. Ted Rossman, a senior industry analyst at CreditCards.com said, "The key with Zelle is to only send money to people you know and trust. Even so, we honor the following data privacy rights, regardless of whether we are obligated by law and regardless of your state of residence. We strive for transparency but if anything remains unclear, do not hesitate to contact us at the email address below with any questions or feedback you may have. Make transfers to over 120 countries in 40+ currencies, The recipients home address (supplying this information is optional with some providers), ABA (American Bankers Association) routing number, SWIFT (Society for Worldwide Interbank Financial Telecommunication) or BIC (Bank Identifier Code), Photo identification for yourself (a passport or drivers license will do), Your recipients full name (this must match the recipients name as it appears on their ID), Your banks BSB (Bank State Branch) number, Photo ID, for example your drivers license or passport, The reference number quoted to you by the person who sent the transfer, Proof of address dated within past 3 months. [A New York Times (opens in new tab) story on Zelle fraud from March 2022 suggests linking your Zelle account to your mobile phone number right away, so that a crook can't link their own number . 1 Transactions typically occur in minutes when the recipient's email address or U.S. mobile number is already enrolled with Zelle. If someone you don't know is requesting a payment via Zelle, I'd suggest declining," Rossman said. Additional information concerning our privacy policies can be found at, Personal information weve collected, used, and/or disclosed, Your rights regarding your personal information. Each company can set their own requirements for what information and proof of ID you need to send or receive a transfer. It's important that you know and trust those you send money to. The email or message will instruct the user to click on a link to view an invoice, Chan says. our bank and credit union partners (e.g., when you send or receive money using the App, we disclose information with them to facilitate the transaction); our service providers (e.g., companies that help us provide the. CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. Paysend offers transfers to more than 70 countries through its app and online service. For purposes of this Privacy Notice, sale means the disclosure of personal information to a third-party for monetary or other valuable consideration and share means the disclosure of personal information to a third party for cross-context behavioral advertising. What information do I need to send a money transfer? The item is usually listed at a discount but only if its purchased within a limited time window.. All it takes is a text or call claiming to be from your bank's "fraud department" and they can get into your account. But unauthorized transactions are usually fully reimbursable. Over 100 million people use Zelle to transfer nearly $500 billion annually, which is a staggering amount of money, says Monica Eaton, COO of Chargebacks911. If you use theZelleapp on an iOS device, you may request to delete your data and close your profile by selecting Delete Account in the apps settings. Know how to send or request money using Zelle without a smartphone? An important aspect of this scam is that the fraudsters never even need to know or phish the victim's password. If youve been the victim of fraud or a scam, you should report it immediately online to the FBI Internet Crime Complaint Center or call the FBIs toll-free fraud hotline at 833- FRAUD-11. It's important that you know and trust those you send money to. As Hamerstone warns, be wary of companies or individuals with products that are priced low or are hard to findand who then push you to pay via Zelle. drench shampoo and conditioner; character quotes from pride and prejudice; big brothers big sisters national You can open a Marcus account with an ITIN if you don't have an SSN. If youd like more information on peer-to-peer payments safety, check out these articles from the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB). We do not use or disclose sensitive personal information for any purposes other than what is described in this Privacy Notice. Kelly has worked with publishers, magazines and nonprofits throughout New York City to develop best practices around editorial, SEO, plain language and accessibility, including Black Dog & Leventhal Publishers, HauteLife Press and Queerty. The pandemic normalized contactless payments, anddigital walletoptions have popped up everywhere, including places that used to only accept cashlike farm stands, garage sales and even your babysitter. such as to process your transactions, maintain your. Search for a provider that consistently offers competitive exchange rates. Financial companies choose how they share your personal information. We will help you pick the best international money transfer service and explain fees and exchange rates. And remember: Scammers are sneaky, but if something seems off about a monetary transaction, it probably is. Another thing to watch out for is someone asking to use your phone, Hamerstone warns. However, doing so will immediately terminate your ability to use the service. Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts. Do I have to report a large money transfer into the US? However, doing so will immediately terminate your ability to use the service. Criminals have used social engineering to contact victims and request the two-factor code that Zelle requires to set up accounts. Knowthe categories and specific pieces of personal information we collected about you, our business purposes for collecting personal information, the categories of sources that weve collected personal information from, the categories of third parties that weve disclosed personal information to, whether weve sold or shared personal information to a third party in the preceding 12 months, and the categories of third parties with which weve sold or shared personal information. Get more for your money. Our App is not intended for children under the age of 18. Code 4056. Our App may contain links to other third-party websites, such as links to our bank and credit union partners websites. If you don't have a Social Security number, there are some banks that let you open a checking account with other identification documents. Request that we correct inaccurate personal information that we maintain about you. Be free from discriminationfor exercising your privacy rights. There are a number of other options for those looking to sign up for a bank without a Social Security number, but they may have geographical or other restrictions. After you've enrolled, simply add your recipient's email address or U.S. mobile number, the amount you'd like to send or request, review and add a memo, and hit "confirm." In most cases, the money is typically available in minutes1. It's wise not to underestimate the value of having a bank account. to create, develop, operate, deliver, maintain, and improve our products and services; to respond to your requests and comply with your stated communication preferences; to provide you with a safe, efficient, and customized experience; to provide other services you request; and, the Early Warning Services, LLC corporate family (Early Warning is the network operator of. Submit identifying documents and speak to a representative. As a visitor to our website, zellepay.com, our Website Privacy Notice also applies. If you don't have one, then you'll need to apply at a branch with other forms of ID. While there's no cost to use Zelle, you can only use your checking, savings or debit card to send or receive money, and you can't make credit card payments. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. You may not be able to get credit cards, either. To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. They can use your SSN to get a driver's license in your name. Zelle is a fast, safe and easy way to send and receive money with friends, family and others you trust - no matter where they bank1. Including but not limited to: 1. It is a pointing-finger matter, says Andy Rogers, a senior assessor at Schellman, a cybersecurity company. Customer service representatives can be reached at 844.428.8542 (7 days a week from 10am-10pm EST, excluding New Years Day, Independence Day, Thanksgiving and Christmas). Our affiliates include Early Warning Services, LLC, clearXchange LLC, Authentify, LLC, Early Warning Information Solutions, LLC. State laws and individual companies may give you additional rights to limit sharing. Simply visit your bank's website or download its app to begin sending money. They'll also use it to check your credit score and banking history to decide if they want to approve you for an account. If you send money to the wrong person, you're basically at the mercy of that stranger to send it back.". The Better Business Bureau has warned of fake buyers who pretend to pay for an item, then trick you into sending them money back. Talk with a financial professional if you're not sure. If youve used the App in the past 12 months, we may have collected, used, and/or disclosed the following categories of personal information about you for a business purpose(s): Categories of personal information weve collected in the last 12 months: Categories of sources from which personal information is collected: Business purpose(s) for collection, use, and disclosure: Disclosed for business purpose(s) to the following categories of third parties: Sold or shared to the following categories of third parties: Length of time personal information is intended to be retained: (unless subject to a legal hold), Personal and online identifiers (e.g., name, email address, postal address, IP address, unique identifiers). There's no pending status, no chargeback mechanism, and no buyer protection of any sort. Federal law also requires us to tell you how we collect, share, and protect your personal information. You can begin your application online, but you will need to visit a local Social Security office or card center to complete the application process. We publish data-driven analysis to help you save money & make savvy decisions. It offers a free checking account with no monthly fees. Am I required to share my Social Security number? Please note that simply deleting the App from your device without selecting Delete Account (via the Apps settings) will not result in yourZelleprofile being closed and deleted. All categories listed below in Section 4. 3 Representatives of payees can sign up the same way. A new kind of scam has been popping up on resale sites like Facebook Marketplace. Western Union allows you to send in person at over 500,000 locations in over 200 countries. Is your teenager ready to have a debit card? While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. We collect personal information when you use the App, including: When you use the App, we collect, use, and disclose personal information for the following business purposes: 6. Who we disclose personal information to. Please refer to the guide about the money transfer requirements. This is also useful if you need to check a branchs location or opening hours. You can also take advantage of online banking services through the Chase site and mobile app. Save smart and earn 4.05% APY at CIT Bank, a CreditDonkey recommended partner. *See the card issuer's online application for details about terms and conditions. Zelle is a digital payments network that enables users to send, receive, and request money to or from people they know and trust within minutes. If your questions are not answered online, you may email us at privacyoffice@earlywarning.com, or write us at Early Warning Services, LLC. If users do this, they may download malware that can steal their personal information.. When your personal information is released with your consent or at your direction; and/or. What if I don't have the required documentation? "And additionally, anyone can register with Zelle. We may receive compensation from our partners for placement of their products or services. Under certain circumstances, we may not be able to correct your information because we have a legal obligation or other reason in which we must retain it in its current state (e.g., the nature of the data, the source of the data, to comply with law). If you make a mistake and the funds are sent to the wrong account, theres no guarantee that youll be able to recover those funds. Zelle is a convenient way to send and receive money from friends, family and other people you know and trust. Find out the latest data on how much money is being sent around the world in remittances. You can send, request, or receive money with Zelle. Its your responsibility to ensure that the bank account details you provide for your recipient are correct. When you leave our App and visit those websites, you are bound by the privacy notices of those websites. Confirm your email and wait for bank account approval. If you report a Zelle scam immediately, you may get your money refunded, but some banks are taking the position that the Electronic Transfer Act does not apply to many victims of Zelle scams. For purposes of this notice, Everyday Business Purposes means any of the purposes set forth in Cal. Unlike traditional financial transfers, such as wire transfers, which can take a day or longer to process, Zelle transfers happen instantly, explains Brian Contos, Chief Security Officer of Phosphorus Cybersecurity in Nashville. We do not knowingly collect personal information from children. "If you're exchanging money with someone for the first time, use something like PayPal. Restrict Nonpublic Personal Information Shared with. Never rely on screenshots or emails as proof, beware of buyers offering more than you listed the item for and dont agree to refund a payment. If your mobile telephone number has changed, you will need to call customer service for assistance with your profile. Message and data rates may apply. When asked for a photo identity, you are likely to whip out your driver's license. The email or message will ask the user to click on a link to claim their prize and enter their Zelle account to send the lottery winnings. Like the fake invoice scam, if the user clicks on the link, they will be taken to a website that looks like the lottery companys website, and if the user enters their personal information, they will give the scammers access to their account. Many banks also offer ways to improve your credit score without taking on debt. And additionally, anyone can register with Zelle mobile using a Visa or Mastercard branded debit card. When using Zelle, at least one side of the transaction (sender or receiver) must have access to Zelle either through their bank or credit union or through the app. Weigh the requirements when considering a money transfer specialist thats right for your needs. Dave is the author of more than two dozen books and has contributed to many sites and publications including CNET, Forbes, PC World, How To Geek, and Insider. Learn more about. 4 years after App profile is deactivated/closed, Certain identifying personal information (e.g., address, telephone number, financial account numbers, other financial information), Up to 5 years after App profile is deactivated/closed, Transaction information (e.g., records of transactions made throughZellewhen you use the App), Law enforcement, government agencies, and other authorized third parties (if required by law), Internet or other electronic network activity information (e.g., your interactions with the App), 4 years after App profile is deactivated/ closed, Sensitive personal information (i.e., precise geolocation), Other information about you that is linked to the personal information above (e.g., information you associate with yourZelleprofile like a profile photo or your contact/recipient list, call recordings if you callZelleCustomer Support), Profile information Up to 4 years after App profile is deactivated/ closed. You can use Zelle to send money to anyone with a U.S. bank or credit union account. If youre visiting a transfer providers branch to collect a cash transfer, you will need to provide: Depending on the size of the transfer, you may need to phone ahead to confirm that the agent has sufficient cash to complete the transaction. People love getting paid quicklylike, if Im reimbursing a friend for my share of a mealand fraudsters exploit this vulnerability.. In situations like this, criminals can easily set up a Zelle account on their own device using a victim's credentials. Ask the provider youre interested in for its requirements for approval. It is accepted as proof of who you are, where you live and how old you are. However, if you do not have one, but you are already of legal age and studying at college or university, you will not have any problems, since many banks offer special accounts for students. When you enroll with Zelle using Wells Fargo Online or Wells Fargo Mobile , we establish a connection between your email address or U.S. mobile . We will not share information about you with joint marketing partners unless we first provided you with further privacy choices. Follow us on Twitter and Facebook for our latest posts. Social Security Number Venmo is a money transfer business regulated by the United States Treasury Department. Like Bank of America, you can open a Chase account without a Social Security number, but the ability to do so may depend on your visa or Green Card status. To be sure, you should check with your bank or credit union to make sure it doesn't charge extra fees for using the Zelle feature. It has over 4,800 branches well spread across the nation. We will not share nonpublic personal information about you within our family of companies other than for our Everyday Business Purposes unless we first provide you with further privacy choices. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. For domestic transfers, look no further than your local Walmart store. Your bank or money transfer provider will be able to provide specific information about the bank details you need to supply during the transfer process. "Zelle is safe because it uses data encryption which offers users increased protection. Please read this notice carefully to understand what we do. Even if you do not make the privacy choice set above, we will not share information that we have about you with non-affiliated third parties, except for Everyday Business Purposes (defined below).

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