Following another viral theft idea on the app, Rolling Stone asked financial creators and educators why people keep falling for scams online
Over the weekend, the phrase “Chase bank hack” went viral on the video-sharing app after users became convinced that the ATM system at the national bank was glitching. Why? Dozens of users, who have now deleted their videos, announced that the bank’s ATMs would allow any customer to immediately withdraw cash from a check they had just deposited — even if they didn’t actually have the check’s amount in their account.
Most of the videos on TikTok addressing the Chase glitch that are still up are satirical sketches about what a bad idea it is to commit financial crimes and then post about it with your full face in view. But bad money content isn’t anything new. There’s an entire ecosystem of online financial advice that is either wrong, fraudulent, or genuinely just a bad idea.
Ellyce Fulmore, another financial expert who also shares tips and tricks on her TikTok account, says while she was shocked the Chase bank glitch rumors spread so far, she completely understands why people would want to try it. “There are so many people that are financially struggling right now, and so when they see this hack that’s seeming like a simple, easy solution, they’re more vulnerable to that kind of advice,” she says.
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