nearly every bank in the US uses Zelle which lets you send money to another persons account with no fees, just using their phone number. for some reason people just prefer to use stupid shit like venmo.
most banks have zelle built into their own app. yeah zelle charges the bank a fee when you use it, but typically you aren’t paying any, unless you use a really shitty bank.
The bank is “paying” the fee, but the fact that they are doing it and don’t charge it back to you proves that it is well within their margin from whatever money they get out of you (account fees etc). You are paying it.
Bruh, we have a corporation in charge of verifying your identity for OFFICIAL GOVERNMENT PURPOSES such as unemployment. (ID.me)
You have to download an app on your phone, then do a face scan, ID scan (front and back), then you might have to do a video call to an employee and have to show the documents to that person again, all that just to get unemployment. (I mean, Devil’s Advocate position would be: There has been a lot of fraud regarding unemployment) But like, okay, why do just build a government-run verification system? Why are they using tax money to pay for a private corporation to di official ID verification?!?
Nearly…but some don’t. And that is the problem. Other countries have bank transfer figured out and not dependent on voluntary adoption from a 3rd party service. I was very surprised when I learned how behind the US is on banking, even compared with some “3rd word” countries.
I get the insecure argument about tap cards (don’t agree but I get it), but how could chip cards possibly be considered more insecure than swiping? That makes no sense.
Sort of. We did, it was just never mandatory and could almost always be charged on just a swipe. We got chip and pin about 15 years ago now, but they again didn’t make it mandatory, so they kept the stripe. Honestly if they just got rid of the swipe we would be fine, but not every retailer has tap to pay and not every bank does chips yet.
It’s a mess. The tech is there, fucking old people and idiots keep the stripe on the cards and because of that skimmers run rampant.
I am annoyed many banks got rid of the raised numbers, at least one store I went to (less than 5 years ago) lacked internet and phone connectivity, now they have to write the numbers by hand.
Working at Walgreens the amount of fuckers with apparently tons of money needing to load their chime or cashapp is fucking insane. Like do you dumbfucks not have bank accounts.
By their appearance I am convinced its all drug addicts or drug dealers. But it is insane. I only thought cashapp was kids or I have used it for Facebook market.
It just shocks me the amount of people using these things as their main source of storing money. Like my ex who uses Paypal.
In the context of the platform used being responsible for the vulnerability, yes. If you fall for a bait and switch, you fell for it. Nobody else. And while identity theft doesn’t always involve duping the persom whose identity you’re stealing specifically, in the context of this conversation it’s also due to user error.
In one of its latest reports, the European Banking Authority (EBA) has highlighted a surge in impersonation fraud and sophisticated online and social scams, often leveraging new payment methods such as instant payments.
A Verification of Payee (VoP) service informs payers of any discrepancies between the payment account identifier given and the name of the intended payee. Payers will get a result (i.e. “match”, “close match”, “no match” or “other”) before initiating the payment, thereby mitigating the risk of fraud.
make consent/authorization for transactions irrevocable once the payer initiates or the payee receives the payment order, so instant payment transactions are pretty much final
Zelle likewise provides payee name for verification, offers multifactor authentication, and treats payments as irrevocable, so I’m not sure what more to expect here that isn’t pretty much the same elsewhere.
nearly every bank in the US uses Zelle which lets you send money to another persons account with no fees, just using their phone number. for some reason people just prefer to use stupid shit like venmo.
But it’s a fucking 3rd party app that skims. Nothing in the USA is just straight forward. There’s always someone making a buck off of your service.
Saunt Neal Stephenson predicted this and so it has come to pass.
If there wasn’t some bro taking a slice that’d just be communism.
I hope you’re being facetious and not standing in solidarity with unfettered capitalism.
Let me guess: you stand firmly in the “/s” side.
most banks have zelle built into their own app. yeah zelle charges the bank a fee when you use it, but typically you aren’t paying any, unless you use a really shitty bank.
That is like the “25$ + 5$ shipping or 30$ no shipping?” meme. You are paying for it, they just don’t show it to you.
What are you talking about?
I send someone $25 on zelle, $25 is deducted from my account, and that person receives $25.
How am I paying a fee in that scenario?
Yes I know how banks work so please don’t explain how they make money using my money.
The bank is “paying” the fee, but the fact that they are doing it and don’t charge it back to you proves that it is well within their margin from whatever money they get out of you (account fees etc). You are paying it.
Lmao, immediately explains how banks work. Also I pay no account fees btw.
Keep everything under your mattress eh?
Bruh, we have a corporation in charge of verifying your identity for OFFICIAL GOVERNMENT PURPOSES such as unemployment. (ID.me)
You have to download an app on your phone, then do a face scan, ID scan (front and back), then you might have to do a video call to an employee and have to show the documents to that person again, all that just to get unemployment. (I mean, Devil’s Advocate position would be: There has been a lot of fraud regarding unemployment) But like, okay, why do just build a government-run verification system? Why are they using tax money to pay for a private corporation to di official ID verification?!?
Things are so crazy lol.
Nearly…but some don’t. And that is the problem. Other countries have bank transfer figured out and not dependent on voluntary adoption from a 3rd party service. I was very surprised when I learned how behind the US is on banking, even compared with some “3rd word” countries.
American tourists still get upset when they can’t swipe and sign the receipt, and rant about how insecure chip and tap cards are.
I am so glad I don’t work retail anymore.
I get the insecure argument about tap cards (don’t agree but I get it), but how could chip cards possibly be considered more insecure than swiping? That makes no sense.
from a tech-oblivious standpoint, there is no difference between the two.
…oh wait you guys didn’t do swipe+pin did you
Sort of. We did, it was just never mandatory and could almost always be charged on just a swipe. We got chip and pin about 15 years ago now, but they again didn’t make it mandatory, so they kept the stripe. Honestly if they just got rid of the swipe we would be fine, but not every retailer has tap to pay and not every bank does chips yet.
It’s a mess. The tech is there, fucking old people and idiots keep the stripe on the cards and because of that skimmers run rampant.
I am annoyed many banks got rid of the raised numbers, at least one store I went to (less than 5 years ago) lacked internet and phone connectivity, now they have to write the numbers by hand.
Working at Walgreens the amount of fuckers with apparently tons of money needing to load their chime or cashapp is fucking insane. Like do you dumbfucks not have bank accounts.
By their appearance I am convinced its all drug addicts or drug dealers. But it is insane. I only thought cashapp was kids or I have used it for Facebook market.
It just shocks me the amount of people using these things as their main source of storing money. Like my ex who uses Paypal.
And Zelle is rife with fraud.
https://ag.ny.gov/press-release/2025/attorney-general-james-sues-company-behind-zelle-enabling-widespread-fraud
https://bankingjournal.aba.com/2025/09/north-carolina-federal-court-trims-zelle-fraud-class-action-against-bofa/
https://member.texasbankers.com/Magazine/Magazine/Features/2024-11/24-11-The-growing-concerns-of-Zelle-fraud.aspx
https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-jpmorgan-chase-bank-of-america-and-wells-fargo-for-allowing-fraud-to-fester-on-zelle/
actual fraud or people sending money to someone they should have known better than to send money too?
What’s actual fraud?
a platform that let’s someone’s unique I’d change and then someone else use that same id
Huh. Why would you think this would be either necessary or sufficient for “real fraud?”
Because in any other scenario, the “fraud” can be attributed to user error? I’m not the guy you’re replying to but that’s what makes sense.
Can it ?
Is it user error to fall for a bait and switch?
Is it user error if have somebody steals your identity and wrecks your credit?
In the context of the platform used being responsible for the vulnerability, yes. If you fall for a bait and switch, you fell for it. Nobody else. And while identity theft doesn’t always involve duping the persom whose identity you’re stealing specifically, in the context of this conversation it’s also due to user error.
Is it much better elsewhere with instant payments/transfers? The EU reports similar fraud issues with their instant payments systems.
With the EU, I only see instant payment regulations for enabling the payer to verify the payee
and screening of transactions for sanctions. Their payment services regulations
Zelle likewise provides payee name for verification, offers multifactor authentication, and treats payments as irrevocable, so I’m not sure what more to expect here that isn’t pretty much the same elsewhere.