>FedNow

There is no recourse if something goes wrong with FedNow, right? Like you get scammed, and the scammer just keeps the money. Seems like a pretty big difference (in theory anyway) to PayPal. Although I'm apparently not the right guy to ask, since I really don't see the use case for PayPal vs. credit card.

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a day ago | parent | next [-]

[deleted]

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toomuchtodo a day ago | parent | prev [-]

Regulation E applies to FedNow instant payments as it applies to payer recourse.

https://www.wolterskluwer.com/en/expert-insights/navigating-...

https://www.consumerfinance.gov/rules-policy/regulations/100...

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lxgr a day ago | parent [-]

Only for unauthorized payments, i.e. for transactions you did not consent to.

This does not cover products/services not received at an online merchant, for example, just like how you can’t retroactively cancel a check. Cards do allow chargebacks in this situation.

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