Many Chase banking customers who used Zelle are seeing the money debited twice from their checking accounts. The issue is specific to Chase, and no issues are reported for other banks who use the Zelle platform.
Chase is working on fixing the problem, reportedly within the next 24 hours, and will refund if there were any fees incurred as well. MarketWatch
Hat tip to reader Ben
Reversals posted this morning. It worked both ways, Zelle credits were also doubled but looks to be resolved now.
Just caught my double withdrawl.will wait and see.
so if I receive double payment then withdraw all money and close account next day, can chase still charge me back?
Yes, they will sue you if the balance is high enough
Yes. The banks are legally protected in the case of bank errors in your favor.
You telling me all this time monopoly was a lie?
I feel like we are entitled to charge Chase an overdraft fee. I feel a class action coming on.
If they pay it back and cover all fees, then there won’t be any damages and nothing to sue them for.
You think folks aren’t going to have damages? Thousands of accounts overdrawn on the first of the month. Impacts rent, car payments, credit card payments, buying groceries, etc… over 24 hours to correct is a pretty long duration.
I once drove around Scottsdale when I was on a work trip, to look for some guy’s office and made a wrong turn and saw a small two-story building with the Zelle logo on it, and thinking to myself, this can’t be Zelle the company headquarters. Lo and behold I looked it up later and it was indeed their headquarters… Can’t believe they possess so much critical information in that little building and billions and billions move through this little company.
They have 1000+ employees, I doubt they are all crammed into that little building. More like this is their mail box acting as “headquarters”. Owned by the big banks including JPM, their parent organization is EWS. No joke.
That would be the EWS Headquarters. See this Press Release: https://www.zellepay.com/press-releases/early-warning-services-llc-opens-new-scottsdale-headquarters
I pulled my EWS report last year, and to say I was utterly shocked would be an understatement. Essentially every ACH/check transaction you’ve conducted is on there, including daily end of day balances, and ofc all your ID/DL/SSN info. I encourage everyone to pull their report at least once to get an idea.
How this sort of collection is legal is beyond me. On top of that, you cannot freeze EWS because the company claims some weird legal exemptions under FCRA.
Just wait til you see what Equifax has in your TheWorkNumber report…
All that talk of a foRtrESs bAlaNCe sHeET and you can’t even get your basic transactions done correctly
I sent +$5K to Chase and I got +$10K now lol. But I know better than to touch it and let things resolve on its own.
Put it in a money market fund and get a couple dollars of interest
thanks for posting this. Just caught an auto zelle payment doubled.
Yet many banks remind you to be aware of and careful on scams…..
Clark Howard was right!