Zelle has quickly become a preferred choice for anyone looking to make a bank-to-bank transfer.
Why?
Well, because it facilitates transfers through bank and makes them happen almost instantly—that is, within seconds.
With that logic in mind, cancelling a Zelle payment that has been sent can be really tricky, and depends on a crucial factor that we'll be seeing later.
In this guide, I'll show you how to cancel a Zelle payment, even if it has been claimed by the recipient.
Can I Cancel a Zelle Payment?
Well, it depends, and to answer the question directly, I can say it is both a yes and a no.
To be more precise with my answer, I have to say that you can only cancel a Zelle payment if the recipient has not yet enrolled with Zelle.
Remember when I earlier said it depends on a crucial factor, well, this is just it.
It isn't just about what I'm saying but equally, what Zelle says.
How to Cancel a Zelle Payment
As earlier mentioned, you can only cancel a Zelle payment if the recipient has not yet signed up for the service. If this is the case for your recipient, you should be able to see a button labeled "Cancel This Payment" just next to the payment.
All you'll have to do is click on this button to cancel your Zelle payment—that's it.
How to Cancel a Zelle Payment on Chase
If you made a Zelle payment on the Chase app and are looking to cancel it, you can follow these steps:
- Open the Chase app and tap "Pay & Transfer" at the button of the screen.
- Now, tap "See Activity" then "Bill Pay & Zelle".
- You should see a list of payments you've made through Zelle. They all have a Zelle label on them.
- Just tap the transaction you want to cancel and get to the payment page.
- From there, you should be able to see the "Cancel Payment" button that should let you cancel your payment.
You'll only see this button if the payment is still pending. If the payment has been received, you won't see this button and won't be able to cancel the payment.
How to Cancel a Zelle Payment on Bank of America
If you need to cancel a Zelle payment made through the Bank of America app, you can do so through the following steps:
- Open the Bank of America app and go to the activity section.
- Select the Zelle payment you want to cancel.
- Tap "Cancel Payment" to cancel your Zelle payment.
Again, you should know that you can only cancel Zelle payments that have been sent to recipients who haven't yet enrolled with Zelle.
How to a Cancel Zelle Payment on Wells Fargo
The steps to cancel a Zelle payment on Wells Fargo are similar to those mentioned for the other banks earlier. You need to find the payment that you made through Zelle and tap the "Cancel Payment" button to cancel the payment.
You should always bear in mind that you'll only see this option if the payment is pending and was sent to a recipient that does not use Zelle yet.
How to Cancel a Zelle Payment that is Pending
Zelle pending payments are typically those that can be cancelled.
You should be able to cancel any pending Zelle payment through the "Cancel This Payment" that's located next to the payment. If the payment was sent through the Chase app, the Bank of America app, Wells Fargo app, or any other banking app, you see a button similar to this one on the payment details page.
How to Cancel a Zelle Payment That Has Been Received by the Recipient
When you mistakenly made a payment to someone who has already enrolled with Zelle, they'll receive it as soon as you send the money and cancelling the payment in this case wouldn't be possible.
However, the only way you have to cancel this type of payment is to reach out to the receiver and request them to send you back the money. If they are generous enough, they should resend you the money.
In case you believe that this is a scam, you should quickly report the transaction to Zelle, your bank account, and the Federal Trade Commission (FTC) for further investigations. But one thing you should keep in mind is that, there' typically no guarantee of you getting your money back if you were scammed.
Is Zelle Safe?
Yes, Zelle is safe if you use it with people you know. Using Zelle with strangers isn't a good idea as you won't stand a chance to get your money back if it was sent to a stranger on Zelle.
Final Thoughts
Zelle payments are instant and when you will only have a slim chance to cancel your payment and this will heavily depend on whether or not the recipient has enrolled with Zelle.
Even if they have enrolled with Zelle, you can still stand a chance to get your money back by reaching out to them and requesting for a refund. If they are good enough and understand that everyone makes mistakes, they will resend you money right away.
To make sure that this situation doesn't happen to you anymore, always do business with people you know and trust on Zelle so that it will be even easier for you to request a refund from them as they already know you.