Zelle® Scams

Zelle^® is a fast and easy way to send money to people you know. But that same speed makes it a target for scammers. Since Zelle^® transfers funds directly between bank accounts without purchase protection, money sent to a scammer is often impossible to recover. At Provident Credit Union, we're here to help you use Zelle^® safely and protect your financial well-being.
 

3 Common Zelle^® Scam Tactics

Scammers are constantly looking for new ways to trick people. Here are some of the most common Zelle^® scams we’ve seen:

1. Impersonation Scams: You get a call or text that looks like it’s from your financial institution. The scammer tells you there’s suspicious activity on your account and asks you to send money to a “secure” account. That account actually belongs to them.
2. Fake Online Listings: A scammer posts a fake ad for tickets, a rental property, or a product at a great price. They ask you to pay using Zelle^®. Once the money is sent, the listing disappears and the scammer vanishes.
3. Emergency Requests from “Friends”: You receive a message from someone who says they are a friend in trouble and need money right away. But it’s not your friend. Their account may have been hacked.

How to Protect Yourself

1. Send money only to people you know and trust. Zelle^® is meant for transactions between people who have a personal relationship. If you do not know the person or have any doubts, do not send the money.
2. Confirm the recipient’s information. Always double-check the email address or phone number before you send money. If possible, verify the information with the person directly.
3. Take your time. Scammers often create a sense of urgency to pressure you into acting fast. Pause and think before sending any money.
4. Know the red flags. If someone refuses to use another form of payment, pressures you to act quickly, or gives vague answers to your questions, it could be a scam.
5. Be cautious with unexpected messages. Even if a text or call appears to come from your credit union or a friend, it could be fake. Do not click on links or provide personal information unless you are sure it is safe.

What to Do if You Think You Were Scammed

If you believe you have sent money to a scammer:

1. Contact your financial institution immediately.
2. Report the incident through Zelle’s support page.
3. File a complaint with the Federal Trade Commission at reportfraud.ftc.gov.

Provident will never contact you to ask for verification of your account or security information. If you are contacted by someone claiming to be a Provident employee, ignore the message and hang up immediately. If in doubt, contact Provident directly at (800) 632-4600.