Lost Money: How to Recover Funds from Zelle Scams

Have you ever accidentally sent money to the wrong person through Zelle? Or worse, been the victim of a scam?

With Zelle fraud on the rise, many are left wondering if they'll ever see those hard-earned dollars again. Thankfully, there is hope.

While Zelle does not offer purchase protection, federal regulations now require banks to refund victims of "imposter scams." This is when a fraudster poses as a legitimate company or person to trick you into sending money. Banks must also make efforts to retrieve misdirected payments.

So if you've lost money in a Zelle scam, contact your bank immediately. Calmly explain the situation and request they reverse the charges under federal law.

Most major banks like Chase and Bank of America now have departments dedicated specifically to assisting scam victims. 

If the bank refuses to help or you need additional support, don't hesitate to take legal action.

Over 15 class-action lawsuits have already been filed against major banks for enabling Zelle fraud. By joining others, you can hold banks accountable while working to recover lost funds.

While recovering from scams is never easy, federal regulations now offer better protections. Don't let embarrassment or assumptions about fraud stop you from contacting your bank.

Calm persistence is key to getting back lost money. With a few phone calls, you may undo the damage and recover everything taken.