JPMorgan Chase Bank (Chase) is about to implement new restrictions on Zelle payments to combat a sharp increase in scams exploiting the digital payment service. Beginning March 23, Chase will block or delay Zelle transactions identified as originating from social media contacts, to protect customers against potential fraud.
Zelle is widely used for quick money transfers between bank accounts, integrated directly into the mobile apps of major US banks. While it offers an easy alternative to cash
