Scammers convince trusting victims to send them money by telling lies about something the victim wants or a situation the victim hopes to resolve. The scammers’ make-believe stories may sound realistic, but they are lies. Their tactics often involve emotional elements to try to get you to take action before you have time to think it through. They’ll often include just enough realistic aspects to make the situation seem believable.
Neither CIBC Bank USA nor Zelle® offers a protection program for authorized payments made with Zelle®. So, if you aren’t sure you will get what you paid for, you should use another payment method with purchase protection, such as a credit card with that protection.
Keep an eye out for anything that doesn’t seem right, including these common red flags:
- Requests for payment from someone you just met, have never met in person, or haven’t spoken to in a while.
- Pressure to send money right away for fear of losing out on a special deal or suffering dire consequences.
- Threats that you or a loved one will be subject to arrest, criminal prosecution, or other legal consequences if you don’t send the payment.
- Instructions to purchase gift cards and provide codes as a form of payment.
- A call from someone claiming to be from CIBC Bank USA and asking for sensitive information, such as account numbers or login credentials, or asking you to initiate a payment. If in doubt, immediately hang up and contact us directly at 877-448-6500 Opens your phone app..
- Unexpected payments received in your account.
If you see any payment in your CIBC Bank USA account that you did not expect, including a payment from a sender you do not recognize, contact us immediately at 877-448-6500 Opens your phone app.. Because of the risk of scams involving unexpected payments using Zelle®, please do not send any funds back to the sender unless and until you have communicated with us about the matter and we instruct you to do so. Further, because of scams in which scammers impersonate victims’ financial institutions, it is of utmost importance that you confirm you are in fact communicating with us before taking any such action.
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 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®, visit How to Pay it Safe with Zelle® Opens in a new window..
©2022 Early Warning Services, LLC. All rights reserved. Zelle® and the Zelle® marks are property of Early Warning Services, LLC. and are used herein under license.