Zelle scams: how the fake bank fraud call works
Quick answer
If someone claiming to be your bank's fraud department tells you to send money through Zelle to "protect" your account, it's a scam. Your bank won't ask you to move money. Hang up, call the number on your card, and report it at reportfraud.ftc.gov.
- Comes by
- Phone call, Text, Email
- Pretends to be
- Zelle
- Last updated
How it works
The FTC describes a common version: a caller or texter pretends to be your bank, says there's a problem with your account and walks you through moving money into a new account "in your name". That account actually belongs to the scammer.
The FTC compares sending money through a payment app to sending cash: once it's gone, it's very hard to get back. That's why scammers push you toward Zelle and tell you to act now.
They usually want one of three things: the money itself, your online banking login, or the one-time passcode your bank sends you. Zelle is a bank-to-bank payment service, so the scammer is borrowing the name of a real service and, often, the name of your real bank.
Red flags
- A call or text about "fraud on your account" that you didn't expect
- Being told to send money to yourself or to a "safe account"
- A caller who asks for a passcode or verification code your bank texted you
- Pressure to act right now and to stay on the phone
- Caller ID that shows your bank's name or number: it can be faked
Example message
Zelle fraud alert: a payment of $[amount] was requested from your account. If this wasn't you, call [phone number] now to cancel it.
What to do
- 1
Hang up and call your bank yourself
Use the number on the back of your card or on your bank's own website, never one the caller or message gave you.
- 2
Don't send money or read out any codes
Your bank will never contact you to tell you to transfer money or to ask for personal information or passcodes.
- 3
If you already sent money, act fast
Report it to your bank and to Zelle right away and say it was fraud. The sooner you tell them, the better your chances.
- 4
Change your online banking login
If you shared a password or code, change the password, turn on two-step verification and check your recent transactions.
- 5
Ignore "recovery" offers
Anyone who contacts you offering to get your money back for a fee is running a second scam.
Report it
Check if your details are exposed with Serus
Scammers find your number and address on data brokers and people-search sites. Serus removes them.
Why you got it
Scammers who pretend to be your bank sound much more convincing when they already know your name, your phone number and where you live. Those details are easy to find on people-search sites and in old breaches.
Servus finds where your phone number, address and email are listed on data brokers and people-search sites and removes them, and alerts you when your details show up in a breach. That gives fewer scammers something to work with. Our guide on what to do after a data breach covers the next steps if your details already leaked.
Frequently asked
Is Zelle itself a scam?
No. Zelle is a real payment service. Scammers use it because payments are fast and hard to reverse, and they pretend to be your bank to get you to send money.
Will my bank ever tell me to move money to protect it?
No. The FTC says your bank will never contact you to tell you to transfer money or to ask for personal information or passcodes.
Can I get my money back after a Zelle scam?
Report it to your bank and to the payment app straight away, then to the FTC. Whether you get money back depends on your bank, so ask them directly.
The call came from my bank's real number. Could it still be fake?
Yes. Caller ID can be faked. Hang up and call the number on your card.
Sources
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