Fraud Is Flourishing on Zelle. The Banks Say It’s Not Their Drawback.

One other Wells Fargo buyer, Julia Gibson, misplaced $2,500 to the same rip-off in October. After she reported the fraud to the financial institution, it gave her a provisional credit score for the misplaced money. However in January, the financial institution abruptly rescinded the credit score, sending her stability to zero and incurring overdraft charges.