How to use Zelle

Zelle is a peer-to-peer (P2P) money transfer service that allows people to send and receive money via their linked bank accounts. Several significant banks and credit unions are members of the Zelle network, all you’ll need to send and receive money electronically is an email address or a phone number once you’ve signed up.

Source – Bank Director

Sending or receiving money with Zelle is free, and your bank is unlikely to charge you a fee for using the service. However, the business advises that you double-check with your bank or credit union to ensure there are no additional expenses.

Zelle allows you to go cashless with ease. When you don’t have to go to the ATM every time you need money, things like sharing utilities, petrol money, and restaurant bills become more faster and easier.

Both the sender and the recipient must sign up for Zelle through their bank account or the Zelle app in order to use it. Zelle will ask for general details such as a phone number and/or an email account, and will walk you through into the enrollment process. Your accounts will be linked if you use Zelle through your bank. If you want to use the Zelle app, you’ll need to link a debit card.

By entering another Zelle user’s email address or phone number, you can send or request money from them.

Check with your bank to see how much money you can send all at once. Some banks may impose lower limits on sending to first-time recipients, increasing those limits once they have established themselves as a reliable recipient.
When you use Zelle to receive money, the funds should appear in your account within minutes.

Don’t worry if you have a Wells Fargo account and need to transfer your share of the rent to your roommate who uses Ally Bank. Zelle offers a large network of partner banks and credit unions that can easily transfer money to one another. If your bank or credit union doesn’t utilise Zelle, you can use the Zelle app to connect a debit card instead.

Customers that have overseas bank accounts will be unable to use Zelle. To use Zelle, both the sender and the receiver must have bank accounts in the United States.

When sending money using Zelle, consumers must be particularly cautious. When you use Zelle, you, the user, are responsible for keeping your money safe. The Zelle service is best seen as cash, according to Zelle: Send money only to individuals you know and trust, double-check your recipient’s contact information before sending, and be wary of frauds. If you’re sending money to someone you don’t know and are concerned that you won’t get what you’re paying for, use a credit card instead, as credit cards generally come with additional built-in buyer protections.

If your bank or credit union provides Zelle, you should be able to access your account and use the service using a desktop web browser. If your bank or credit union doesn’t participate in Zelle, you’ll have to use the Zelle app, which requires a smartphone.