Zelle

Zelle

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Recently I came across the term Zelle and had never heard about it.  So I dived in to see what was up with it.  It is a service that allows you to send money from your registered Account (Usually Checking Account) to another person’s Account.  The only requirement is that you have to have your email or phone registered with Zelle and your Bank/Credit Unions System.  Usually only takes a few minutes to set up and there is generally no charge for using.  They do have a Zelle App but I didn’t see much value in the app itself.  I mostly use my Bank/Credit Unions webpage or App to do the transfer.  Some things to note.

WARNING:  Lots of scammers so make sure that once your email or phone number is configured you do not accidentally send people money you didn’t mean to.  ALWAYS check the number or email you are sending to is still up to date before sending the money.

  1. Each Financial System has its own regulations on how much money you can send per day and per week.  Usually around 500-1000 a day and 1000-3000 a week.
  2. You can ONLY register one Account to your email/phone number.  If you want to use the system to transfer money between your own accounts you CAN do this but its kind of a pain.  You have to use alternate emails.  This uses the email that is registered to the account.  So that means you will not receive email notifications to your primary account/phone number.
  3. There is a typical $0.00 charge for this use.
  4. The transfer is pretty fast.  Usually within an hour or so.  As compared to 1-3 Days for normal bank transfers.

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