Venmo and Zelle try to stop you from sending money to the wrong person
CHICAGO ââ When Michael O'Neil tried to pay the company that inspected the condo he bought last summer, he had no idea there was a company on the East Coast with a nearly identical name and an email address that differed by just four letters - until he sent $360 to the wrong business.
O'Neil, 37, sent the mobile payment using Zelle and has spent the last year trying to get the money back.
"It was my mistake, but one that I thought was immediately protected," he said. "Four letters shouldn't cost you ($360)."
Consumers want to be able to send and receive money as instantly as they can
