Valley man loses money to pay yourself service scam | abc10.com

The voice on the other end of the phone told him not to worry, he could block that unexpected $500 charge. All he had to do was send himself money through two money transfer services he’d used before Zelle and Cash App.

The bank was going to send him a one-time security code that he’d need to repeat back. He did and transferred the money to himself.

That was all it took. 

“They changed the routing info,” he said.

It’s called a “Pay Yourself” scam, and it’s become so popular that Zelle, which is owned by Bank of America, has produced a video explaining to customers how it works. Bank of America has even sent the video out in email blasts to its customers, but people are still getting taken. 

https://www.abc10.com/article/money/valley-man-loses-money-to-pay-yourself-scam/75-ba7f158f-9343-4c3a-b55a-d9a5a21e814f