Zelle Review: What You Need to Know
Zelle is a digital payment platform that allows you to quickly send and receive money between U.S. bank accounts. If your bank or credit union offers Zelle and you’ve enrolled in the service, you can send, receive and even request funds from trusted family members and friends.
Learn more in our Zelle review, including how the popular payment solution works and what to consider before using it.
What is Zelle?
Zelle is a money transfer app that helps you send and receive funds to and from people you know. Whether you need to split a bill or pay the sitter, Zelle helps you transfer money quickly.
You can use Zelle either directly through the Zelle app or through your bank — Zelle is integrated with more than 2,200 U.S. banks and credit unions. To find out if your bank offers the service, you can check out Zelle’s list of banking partners or contact your bank directly.
Zelle doesn’t charge a fee to send or receive money, but your bank might.
How to use Zelle
You can use Zelle in two main ways: through your bank or directly through the Zelle app. But either way, you’ll need to have a U.S. bank account.
The amount of money you can send and receive daily through Zelle varies by bank but is typically between $1,000 and $3,500, though it can be lower or higher. These limits are in place to help protect you from fraud.
How to send money with Zelle
To send money with Zelle, you’ll first need to enroll with your email address or cellphone number. Then, enter your recipient’s email address or cellphone number and the amount you want to send. Review and select “confirm.”
If the recipient has already enrolled with Zelle, the money will be deposited directly into their bank account. If they’re not enrolled, they will receive a notification from Zelle with instructions on how to receive the funds.
How to receive money with Zelle
If you’re already enrolled in Zelle, the money will be automatically deposited into the bank account linked to your Zelle account.
If you’re not enrolled, you’ll receive a notification from Zelle informing you on how to sign up and receive the money. When someone sends you funds through Zelle, you should typically receive them within minutes.
Beware of Zelle scams
As with any financial transaction, a Zelle transfer should only be made to someone you trust. Stay vigilant because Zelle fraud is common and may include:
- Rental scams: If a landlord asks for a deposit before you’ve seen a rental property, especially if the listing seems too good to be true, it could be a scam. Once you send money, the scammer will ghost you.
- Phishing attempts: If you receive an email or text message claiming to be from Zelle and asking for sensitive information, such as your account password, it could be a phishing scam. Do not provide any information before contacting Zelle directly to verify the request.
How to sign up for Zelle
There are two ways to enroll in Zelle:
- Bank integration: If your bank offers Zelle, you should see it in the “payments and transfers” tab of your online banking portal or mobile banking app. You’ll still need to enroll in Zelle to send and receive money.
- Zelle app: The Zelle app is available for download through the Apple and Google app stores. You’ll need your mobile phone number and a valid debit card to start moving funds.
Zelle pros and cons
PROS
- Charges no fees to send or receive money
- Delivers funds typically within minutes
- Comes integrated with many bank accounts
CONS
- Does not allow international transfers
- Provides no purchase protection
- Presents potential for fraud and theft
Why is my Zelle payment under review?
Your Zelle payment may be under review for various reasons, including suspected fraud or a technical issue. If you haven’t received your payment within three days, double-check that you enrolled correctly and that you provided the right email and phone number.
If you’re using Zelle through your bank or credit union, contact its customer support team for help.
To reach Zelle customer service directly, call 844-428-8542 from 10 a.m. to 10 p.m. Eastern time daily. You can also fill out a support form to submit a ticket on the Zelle website.
Who owns Zelle?
Zelle is owned by Early Warning Services, a financial technology firm that is co-owned by several of the largest banks in the U.S., including Bank of America, Chase Bank and Capital One.
Zelle vs. Venmo
Zelle and Venmo are both peer-to-peer (P2P) payment systems that allow you to send or receive money from other people using a digital platform. A key difference is that Zelle transfers are typically instant and free, with funds deposited directly into the recipient’s bank account.
When you receive money through Venmo, the funds are added to your Venmo account balance. If you want to move the funds to your bank, a standard transfer can take one to three business days. You can opt for an instant transfer for a 1.75% fee.
Zelle vs. PayPal
PayPal is another common online payment platform, but it has more fees than Zelle. An instant transfer from your PayPal balance to a bank account is 1.75%.
One advantage of PayPal is that it allows international transfers, while Zelle limits transfers to those to and from U.S. banks. Additionally, PayPal provides purchase protection and Zelle does not.