How Fraudsters Use Zelle®

Zelle® is a great way to transfer money electronically. It’s fast and easy. Unfortunately, those same qualities make it a popular target for scammers. Here’s what you should know about Zelle® scams and how to protect yourself.

The most popular Zelle® scam starts with what appears to be a message or phone call from your bank. The "bank" message typically asks you to call a number to verify a Zelle® transfer. If you call the number, a scammer will then ask you to make a transfer to “return the funds” because (obviously) this wasn’t an authorized Zelle® action. That transfer will send money to the scammer, and you’ll be out the cash.

Another Zelle® scam operates in much the same way, only this one starts from a fake utility company. The message will claim that the company didn’t receive your payment and will ask you to contact "the company" to avoid a shut-off. Then, when you call the fake number and authorize a Zelle® payment, once again the money goes to the scammer, and there’s no easy way to get it back.

Protect Yourself: The best way to protect yourself from Zelle® scams is to never send money to a company or person that you don’t know. If you are contacted by someone about a Zelle® transfer, do not take action. Instead, hang up and contact your bank or utility company directly and ask about transaction activities. The bottom line? Be vigilant. If something seems suspicious, it usually is.

Keep up to date on the latest fraud news by visiting bfcu.org.

Need to report card fraud? 
Call 800-647-2328, option 6, or text 318-549-8145. Open Monday – Friday, 8:30am – 5:00pm.
After-hours debit card fraud, call 866-274-2761.
After-hours credit card fraud, call 800-543-5073.