If one thing should be fast and easy, it’s digital payments. And anything that happens quickly also needs careful attention. Scammers know this — so you should know about digital payment safety (also called peer-to-peer payment safety).
Last year alone, consumers sent billions through online and mobile payment platforms — and scammers followed the money. Whether it’s a fake job offer, a spoofed bank alert, or a “pay yourself” scam, digital deception is evolving fast. And so can you. Learn these seven critical tips to help protect your accounts from scams.
The Problem: Speed Meets Vulnerability
Using Zelle®1, you can pay your roommate, your dog walker, or your favorite taco truck in no time (typically in a matter of minutes when your recipient is already enrolled). But that same speed makes it a prime target for scammers:
- Once you have sent money and the recipient is already enrolled, there is no option for reversal of the payment.
- Neither UFCU nor Zelle offer protections for payments made with Zelle.
- Current federal law does not require banks or credit unions to refund losses if a customer voluntarily sends money to a scammer — even if they were tricked into doing so. Learn more about the Electronic Fund Transfer Act (EFTA) and Regulation E (PDF), which protect consumers only when a transaction is unauthorized.
That’s why it’s important to double-check before you send. Some scammers pretend to be trusted contacts or companies, and once the money is sent, a bad actor can disappear without a trace. So how do you protect your cash and your identity? Consider these seven ways to help you outsmart scammers:
1. Verify Before You Tap Send
Always double-check the recipient’s name, phone, and/or email before you send money. Scammers often impersonate friends, family, or businesses. Some use look-alike details or claim your contact has changed their number to trick you into sending funds to the wrong account. If you’re buying something online, use a payment method with buyer protection.
2. Ignore “Pay Yourself” Alerts
If you get a text saying “You must pay yourself with Zelle to stop fraud,” don’t bite! It’s a classic scam. Your credit union or bank will never ask you to send money to yourself.
3. Be Wary of “Customer Support” DMs
Scammers can often pose as representatives (even as credit union or bank representatives) on social media. Real support never slides into your DMs. Go directly to your bank’s website or app.
4. Lock Down Your Login
Use strong, unique passwords and enable two-factor authentication on your banking apps. UFCU’s Online Banking and Mobile app support multi-factor authentication for added protection.
5. Think Before You Tap
If it feels rushed, emotional, or too good to be true — it probably is. Scammers thrive on urgency. Pause. Verify. Then decide.
6. Monitor Your Accounts Closely
Use UFCU’s free account alerts to track suspicious activity. Set up notifications for large transactions, login attempts, and changes to your profile.
7. Use the UFCU Security Center
Get real-time fraud alerts, educational resources, and expert advice at the UFCU Security Center. It’s your digital shield against scams.
At UFCU, we’re putting together the power of our employees and machine learning to work to protect your data. Our fraud detection systems monitor for unusual activity 24/7. And our Digital Banking tools give you control over your financial life — anytime, anywhere.
Don’t wait until it’s too late. Visit the UFCU Security Center today and take control of your digital safety, because protecting your money starts with protecting your data. Want to learn more? Explore more articles.
1 Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.