Using digital payments like Venmo, CashApp and Zelle® has made life much easier, but they can come with risks. Still, there are some easy steps you can take to protect yourself from being scammed and to keep your money safe.
What to watch out for
Fraudsters will stop at nothing trying to trick you into giving them your personal information and verification codes to gain access to your bank account – and your money. They may use spoofed phone numbers or text messages claiming to be a representative of your bank - and ask you for personal information, online credentials or one-time authentication passcodes. They may even ask you to send yourself money to "reverse" a fraudulent transaction. But the person is actually attempting to trick you and gain access to your account so they can use Zelle® to make unauthorized payments without your knowledge that end up in their pocket. Learn more on "How to Pay it Safe with Zelle®" and spot payment scams. This video from Zelle® shows how to avoid a payment scam.
How do I protect myself?
Knowing what to look for can help keep you and your money safe. Here are three tips to keep in mind:
What should I do if I've been the victim of a digital payments scam?
If you think something’s not right with your account, contact your financial institution right away. At U.S. Bank you can call the Fraud Liaison Center, 877-595-6256. Or call the number on the back of your U.S. Bank card or statement. Find out more about the U.S. Bank Digital Security Coverage.
Read more about ways to protect yourself from fraud and scams.
1. To send money in minutes with Zelle® at U.S. Bank, you must have an eligible U.S. Bank account and have a mobile number registered in your mobile and online banking profile for at least three calendar days. U.S. checking or savings account required to use Zelle®. Transactions between enrolled consumers typically occur in minutes and generally do not incur transaction fees.