Zelle is a money transfer service that allows users to send and receive money directly between bank accounts. It is a fast, convenient, and secure way to send money to friends and family, and it is offered by a number of major banks in the United States.
How to use Zelle
To use Zelle, you must first enroll with a participating bank. You can do this through your bank’s website or mobile app. Once you are enrolled, you can send and receive money using your email address or mobile phone number.
To send money with Zelle:
- Log in to your bank’s website or mobile app.
- Select the Zelle option.
- Enter the email address or mobile phone number of the person you want to send money to.
- Enter the amount you want to send.
- Enter a memo (optional).
- Review the transfer and confirm.
- The money will be sent immediately.
To receive money with Zelle:
- Log in to your bank’s website or mobile app.
- Check for incoming transfers.
- If you receive a transfer, you will be able to accept it immediately.
List of the largest banks that use Zelle
- Bank of America
- Chase
- Wells Fargo
- Citibank
- US Bank
- TD Bank
- Capital One
- PNC Bank
- Truist Bank
- Fifth Third Bank
- USAA
- Discover Bank
Benefits of using Zelle
Zelle offers a number of benefits, including:
- Convenience: Zelle is a convenient way to send and receive money instantly, without having to write a check or visit a bank branch.
- Speed: Zelle payments are processed instantly, so the recipient will have the money in their bank account right away.
- Security: Zelle uses bank-grade security to protect your financial information.
- Acceptance: Zelle is accepted at over 175,000 banks and credit unions nationwide.
Fees for using Zelle
Zelle itself does not charge any fees for sending or receiving money. However, some banks and credit unions may charge their own fees for using Zelle.
These fees can vary depending on the bank or credit union, but they are typically around $0.25 to $3 per transfer. Some banks may also charge a monthly fee for using Zelle.
Here are some examples of banks and credit unions that charge fees for using Zelle:
- Bank of America: $0.25 per transfer
- Chase: $0.25 per transfer
- Wells Fargo: No fee
- Citibank: No fee
- US Bank: $3 per transfer
- TD Bank: $0.25 per transfer
- Capital One: No fee
- PNC Bank: $3 per transfer
- Truist Bank: No fee
- Fifth Third Bank: No fee
- USAA: No fee
- Discover Bank: No fee
It is important to note that these fees are subject to change, so it is always best to check with your bank or credit union to see if they charge any fees for using Zelle.
Conclusion
Zelle is a convenient, secure, and fast way to send and receive money. It is accepted at over 175,000 banks and credit unions nationwide, and it is free to use for most customers. If you are looking for a quick and easy way to send money to friends, family, and businesses, Zelle is a great option.
Frequently Asked Questions (FAQ)
What bank works with Zelle?
Zelle works with over 1,500 banks and credit unions in the United States. You can find a list of participating banks and credit unions on Zelle’s website.
In which country is Zelle used?
Zelle is currently only available in the United States.
Can you use Zelle if your bank isn’t listed?
No, you cannot use Zelle if your bank is not listed. You will need to open an account with a participating bank or credit union in order to use Zelle.
How do I know if my bank allows Zelle?
You can check with your bank or credit union to see if they participate in Zelle. You can also check Zelle’s website for a list of participating banks and credit unions.
Can I use Zelle with PayPal?
No, you cannot use Zelle with PayPal. Zelle is a separate money transfer service from PayPal.
What banks use Zelle for free?
Most banks and credit unions do not charge a fee for using Zelle. However, some banks and credit unions may charge a fee for sending or receiving large amounts of money. You should check with your bank or credit union to see if they charge any fees for using Zelle.
Does Zelle have a limit?
Yes, Zelle has a daily limit of $1,000 for sending money. You may also have a limit on how much money you can receive per day, depending on your bank or credit union.
How do I receive money from Zelle?
To receive money from Zelle, you will need to provide the sender with your email address or U.S. mobile number. The sender will then be able to send you money directly to your bank account.
Why is Zelle taking 3 days?
If it has been more than three days since someone sent you money with Zelle, there are a few possible reasons why you may not have received it yet:
- The recipient is not enrolled with Zelle.
- The recipient entered the incorrect email address or mobile number.
- The sender canceled the payment.
- There was a problem with the payment processing.
If you have not received your money after three days, you should contact Zelle customer support for assistance.
Can Zelle refund money if scammed?
Zelle does not offer refunds for payments that are sent to scammers. However, Zelle may be able to help you recover your money if you were scammed by someone who you knew and trusted.
How long does Zelle hold money?
Zelle does not hold money for any longer than necessary to process the payment. If there is a problem with the payment, Zelle may hold the money for up to 14 days while they investigate the issue.
How many hours does Zelle transfer take?
Payments sent with Zelle are typically available to the recipient within minutes. However, it may take longer for the funds to be deposited into the recipient’s bank account, depending on their bank’s processing times.