JPMORGAN Chase to go down to Zelle Social Media Fraud

If you are a JPMorgan Chase client and use cage For the transfer of funds, there is a major change in policy on your way. In a week, March 23, 2025, Chase will impose a Zelle payments limit that he considers a Social Media FraudS

If Zelle is an application you use often, read to learn more about Chase repression plans and how they can affect how you send or receive money from your family and friends.

Read more: Scaming cheaters: Meet Grandma Deepfake, Digital Bots and YouTubers who are fighting AI Fraud

Why will Chase block fees for social media Zelle

Zel and others Digital Payments Applicationslike Venmo and Cash App, make it easier scammers To get your money and many cheaters are aimed at people on social media. According to ChaseNearly 50% of the fraud reports he received from June 1, 2024, until December 31, 2024, comes from social media.

A December 2024. Law process From the Consumer Financial Protection Bureau, it claims that customers in JPMorgan Chase, Bank of America and Wells Fargo have lost over $ 870 million through Zelle payments after launching in 2017, while CFPB recently dropped the suitHe still raises alarms that customers are at risk using the digital payment application. And since Zelle does not offer purchase protection after sending your money to the app, it is unlikely to return it.

With her new policy, Cheesn hopes to stop the fraud before it happens. Its updated Cell Service Agreement will allow him to refuse or block payments in which he believes they have arisen from social media. The Bank may also delay or have payments so that it can request information from you to certify the transaction, such as checking your identity, identity and payment data to the sender or recipient.

Other ways to pursue customers can send money safely

If you want to send or receive money through your Chase account, there are many sure ways to do so. Chase has partnered with several Other digital payment servicesas Paypal., Apple Pay., Google PaySamsung Pay and Paze.

You should never send money through a payment app to someone you don’t know and trust. It also helps to know signs of deceit So you can avoid falling into the traps of cheaters.