Sending Money Safely with Zelle
Updated September 26, 2024
Published May 1, 2022
Located conveniently in your MyNCU mobile app and Online Banking, Zelle® enables you to send and receive money with friends and family, wherever they bank in the U.S. Follow these easy tips to use Zelle® safely:
- Only send money to those you know and trust
- Beware of payment scams
- Treat Zelle® like cash
How to Send Money with Zelle® Safely
Zelle® is a fast, safe and easy way to send and receive money with people you trust, like your babysitter, coworkers, fellow PTA mom, or your son’s soccer coach. Whether you just enrolled with Zelle® or have been an active user for a while, there are a few tips you should always keep in mind to ensure you are being safe when sending money.
Only Send Money to People You Know and Trust
Money moves fast with Zelle®, directly from bank account to bank account within minutes* . So, it’s important you know and trust the people you’re sending money to.
Why? Because you can’t cancel a payment once it’s been sent if the recipient is already enrolled with Zelle®. And if you send money to someone you don’t know for a product or service you might not receive (like paying for something in advance), you may not get your money back. Keep in mind that sending money with Zelle® is similar to handing someone cash.
Beware of Payment Scams
If you receive a call from someone threatening a negative action, such as fraud on your account or utilities being shut off unless you make a payment with Zelle®, slow down and think it through. This might be a scam. Scammers use fear and urgency to get people to act on impulse rather than reason. Also, keep in mind that no one from Neighborhood Credit Union will ever ask you to send money with Zelle® as a test or to avoid a fraud event.
Another example of a payment scam is buying event tickets from a stranger at a price that seems too good to be true and then never receiving them. If the seller asks you to use Zelle® to purchase the tickets, you should refuse unless the seller is someone you personally know and trust.
Keep in mind that no one from Neighborhood Credit Union will ask you to send them money with Zelle® as a test or to send money to avoid a fraud event.
Neighborhood Credit Union’s main priority is members' safety, and they will never initiate communication and then ask for your personal information via phone, text, or email. If you receive a phone call, text, or email from Neighborhood Credit Union that seems suspicious, please do not hesitate to alert us by calling 214-748-9393.
Treat Zelle® Like Cash
Did your friend change phone numbers recently? It’s easy for people to change their phone number or email address.
When in doubt, contact your friend to verify the email or U.S. mobile number they used to enroll with Zelle® before you hit “Send.” Another good check point for ensuring you're paying the right person is to confirm the first name that is displayed for enrolled emails and U.S. mobile numbers.
If a person has already enrolled a U.S. mobile number or email address with Zelle®, you can’t cancel the transaction, so it’s important you get it right the first time.
For more information and videos on how to use Zelle® safely, visit “How to Pay it Safe with Zelle®.”
* U.S. checking or savings account required to use Zelle®. Transactions between enrolled consumers typically occur in minutes.
Zelle® and the Zelle® marks are property of Early Warning Services, LLC and are used herein under license.
This blog was contributed by Zelle®
Who We Are
As an active part of the community for 94 years, Neighborhood Credit Union is a not-for-profit financial organization serving the state of Texas with branch locations in Collin, Dallas, Denton, Ellis, and Tarrant counties. With assets topping $1 billion, Neighborhood Credit Union has a continuously growing membership of over 60,000. For more information, call (214) 748-9393 or visit our homepage.