It may also ask for some more details regarding the transaction before letting it go through.

Per Chase, this new level of scrutiny stems from a flood of fraud related to social media transactions.

The banking giant claims that50% of all fraud claimsfiled by its Zelle customers originated on social media.

A Chase Bank location with a drive through window

A Chase Bank location with a drive through window© Martin Alonso/Wikimedia Commons

Its not the only place noticing the uptick.

NatWest Bankpublished its own findingsregarding fraud and found that social media marketplace scams are the second-fastest-growing scam affecting consumers.

Anyone who pays through Zelle is also likely well aware that there is no refund option.

Actor Johnny Depp attends the press conference of ‘Modi, Three days on the Wing of Madness’ at Real Alcazar on November 09, 2024 in Seville, Spain.

So Chases policy change could certainly be viewed as a response to those charges.

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