Good point. Paypal owns Venmo. Venmo has had their share of scams though. Some have waited for over a year to resolve issues because of the automated customer service and lack of any human accountability.
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There's no good substitute for green paper money.
For whatever it's worth, for quite a while, I've used Zelle once a month to make some recurring payments and have never had any issues.
And I've also used it a few times for one-off payments to buy car stuff from strangers, also with no problems.
I just like that all it takes to set up a payment account is someone's phone number. Which is so much easier than setting up a wire transfer account at a bank. And the money is transferred immediately, unlike bank transfers.
I hate getting cash out of the bank. 25 years at the same branch and they always look at me funny when I take out a bunch of cash. And they always make a big deal that I will have to fill out an IRS form if it's over $10K – but why would I care about a form if I'm not doing anything wrong? Does my banker assume I cheat on my taxes? That I'm heading up an off-shore criminal enterprise? Both? BTW, I recently learned that the bank also has to fill out a form, so I think that's the real reason they try to talk you out of it!
And BofA changed over their own "easy-cash" system for Zelle. Maybe they bought Zelle or something. But I like it – if a problem did come up, I'd rather deal with BofA than a Silicon Valley App company. (****, I just realized that since I have BofA stock, maybe I own Zelle, too! Just a coincidence, I promise...)
Remember folks, Zelle doesn't shoot people, people shoot people...
Speaking of money –new price for my Caldwell: $15K! Payment just has to be done through my uncle at his bank in Albania, but it's totally ok...
Agree the scammers are the problem, but Zelle makes it easier to run the scam. In addition, if you make a simple error on the phone #, Zelle will not reverse the error without a lot of grief involved.
https://www.elliott.org/problem-solv...oney-transfer/
Just got a PM from a brand new account named jsuther asking me to email his friend Max (maxpad118@gmail.com) in response to an old WTB ad of mine.
Undoubtedly a scam.
Another scam via fellow ApexSpeed member (who is out of pocket at the moment):
https://scontent-ord5-1.xx.fbcdn.net...aQ&oe=65709112
<<< insert rage and disgust for some humans here >>>