Do you really want to know what or which Banks use Zelle services? Then this content will give you some amazing answers. I think you should know this, Zelle is mainly for the purpose of casual person-to-person payments, like paying someone what you owe them back or splitting bill payments.
All you need to send the money to the person you want to send money to is just their phone number or their email address. In fact, it is very similar to Venmo in all functionality.
However, there is a difference, which is that Zelle, is backed by more than 30 of the biggest banks like Bank of America, Citibank, chase, etc.
That oversees over 86 million customers. Although Zelle is yet to have its own app, but rather lives within the app of your bank, giving the ability that it easily send and receive money. But with a promise that a standalone app is coming later this year, but Zelle is a new app in the market that even Venmo is nervous of.
Zelle simply works by helping to move money directly from one bank account to another one. This wonderful financial service makes it a point of duty to send your receipt and email or text once payment is waiting for them. If the receipts bank is in support of Zelle, they can accept the payment via their bank app. or the receipt makes use of a link provided by Zelle to accept the payment to a debit card.
Unlike the normal Cash App, Venmo, Google Pay, and many other competitors, there is no escrow or intermediary period where the money is held by Zelle. But rather, money moves directly from your bank account to your recipients in just as little as a few seconds.
Zelle is free to make use of, but you can check with your bank to make sure you will not pay withdrawal or transfer fees when using Zelle.
What Banks Use Zelle?
Here’s a list of the banks that are participating in Zelle:
- M&T Bank
- MB Financial Bank
- Morgan Stanley
- PNC Bank
- SchoolsFirst Federal Credit Union
- Star One Credit Union
- SunTrust Bank
- TD Bank
- S. Bank
- Comerica Bank
- ConnectOne Bank
- Dollar Bank
- Fifth Third Bank
- First Tech Federal Credit Union
- The First Tennessee Bank
- First National Bank
- Frederick County Bank
- Frost Bank
- HomeStreet Bank
- JP Morgan Chase
- Wells Fargo
- Ally Bank
- The Bank of America
- Bank of Hawaii
- Bank of the West
- Capital One
- Citizens Bank
Can you Use Zelle with Any Bank?
So many recipients have Zelle available through their bank’s mobile app already. If you look above you will find lists of all the participating banks and credit unions that are participating with Zelle. Should in case, your recipient can still make use of Zelle by simply downloading the Zelle app from your iOS and Android.
Why is Zelle Bad?
One of the biggest drawbacks of Zelle is that it does not provide fraud protection for authorized payments. In other words, if you purchase something online and use Zelle to pay for it, you have no recourse if you never receive the item you paid for.
Does Zelle Charge a Fee
Zelle is a fast, safe, and easy way to send and receive money with your friends, family or others in minutes, 1 between domestic bank accounts at U.S. financial institutions. There’s no fee to send or receive money with Zelle using our Mobile Banking app or Online Banking. You can get more details by simply clicking here.