JPMorgan Chase cracking down on Zelle social media scams

If you are a JPMorgan Chase customer and use it cell There are major policy changes to transfer funds. One week from March 23rd, 2025, Chase Zelle Payment Limitations It considers a Social Media Scam.

If Zelle is a frequently used app, read more about Chase’s crackdown plan and how it affects how you send or receive money from family and friends.

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Why Chase blocks Zel Social Media Charges

Zel and others Digital payment appvenmo and cache apps, make it easier con man To get your money, and many scammers target people on social media. According to TrackingAlmost 50% of fraud reported receiving it between June 1, 2024 and December 31, 2024.

a December 2024 Litigation Customers at JPMorgan Chase, Bank of America and Wells Fargo claimed they have lost more than $870 million in Zelle payments since launching in 2017, according to the Consumer Financial Protection Agency. I dropped the suitraised an alarm that customers were at risk using digital payment apps. Also, Zelle doesn’t offer purchase protection, so once you send money to the app, you’ll rarely get it back.

With that new policy, Chase hopes to stop scams before they happen. That update Cell Service Contract You can refuse or block payments that are believed to have occurred on social media. Banks can also delay or hold payments, allowing them to request information from customers to authenticate transactions.

Other methods can safely send a way that allows you to track your customers

If you want to send or receive from your Chase account, there are many safe ways to do so. Chase will partner with some Other digital payment serviceslike PayPal, Apple Pay, Google PaySamsung payments and embarrassment.

Don’t send money to people who don’t know via payment apps. It also helps to know Signs of fraud Therefore, you can avoid falling into a con man trap.