Sefa Ozer/Getty Images, Illustration: Hunter Newton/Bankrate
Like platforms like Cash App and Venmo, the Zelle app lets you send and receive money using your mobile device. However, Zelle also partners with hundreds of banks and credit unions, so you can send and receive money directly from your bank account without using a third-party app, making your transactions even more secure.
Here’s how to send and receive money using Zelle.
What is Zelle?
Zelle is a peer-to-peer payments platform that lets you send and receive money between family, friends, and other people you trust. You don’t need to have an account with the same financial institution as the other person to use Zelle. To send money, you only need the recipient’s email address or mobile phone number. Zelle doesn’t charge fees for these transactions, but your bank or credit union may.
How to Check If Your Bank Uses Zelle
Banks’ websites will usually state whether they participate in Zelle. You can usually find this information in the mobile and digital banking section of the bank’s website, but it may also be listed under your checking account offerings.
Alternatively, you can visit the Zelle website and find the AZ catalog for participating banks.
How to send and request money using Zelle
To send money with Zelle, you and the recipient need a Visa or Mastercard debit card with a U.S.-based account. Sending, receiving, and billing with Zelle is easy. First, you need to sign up for Zelle. You can do this through your bank’s mobile app (if available) or the Zelle mobile app. If the person you’re sending or billing to hasn’t signed up for Zelle, they’ll receive an email or text notification reminding them to sign up. If the recipient doesn’t sign up within 14 days, the transaction will be canceled. If you were trying to send money, the payment will be refunded to your account.
After signing up, go to your bank or Zelle mobile app and add the email address or mobile number of the person you want to send or receive money to. Add the amount you want to send or receive, and add a note so both people know what the transaction is about.
You’ll then be asked to verify the information before the funds are sent or your request is approved. Now is a good time to double-check that the recipient’s email address or phone number is correct, especially if you’re sending money to the wrong person. There’s no guarantee you’ll get your funds back.
Each bank sets transfer limits through Zelle, and you’ll need to contact your bank directly to find out what those limits are. If your bank or credit union doesn’t use Zelle, your weekly transfer limit on the Zelle app is $500.
Conclusion
No matter which bank you use, you can use Zelle to securely send and request money.
Many banks have partnered with Zelle, allowing you to use the platform without having to download a separate app. If your bank uses Zelle, you can access the tool through your bank’s app to select a payee, enter the transaction amount, and add a note. If your bank doesn’t use Zelle, you can complete the same steps within the Zelle app.
As with any peer-to-peer payment platform, make sure you’re sending it to the right place and that the recipient’s details are correct.
–Freelance writer Emily Batdorf contributed to updating this article.
