Send and Receive Money with Zelle (2024)

FAQs

How do you send and receive money through Zelle? ›

Disadvantages of using Zelle include the potential for fraud or theft. 10 Users can also face difficulties, such as not receiving their funds if the app or banks experience technical problems. Outages can affect money transfers.

Zelle^® doesn't charge a fee to send or receive money. We recommend confirming with your bank or credit union that there are no fees for Zelle^® transactions.

It's easy — if your bank or credit union offers Zelle^®, it's already available in your mobile banking app or online banking! Check your mobile banking app or sign-in to your online banking site and follow a few simple steps to enroll your Zelle^® profile.

Both of the payment services are decently safe, have user-friendly interfaces, and allow you to conveniently send money when you need it. Zelle stands out from Venmo with its absence of instant transfer fees, but it also cannot be used as a wallet.

The Zelle^® app is only available to users whose banks and credit unions do not offer Zelle^® directly to their customers. Because your financial institution offers Zelle^®, you can use it directly through your banking app (and online banking, if available) to send and receive money.

Regulators say hundreds of millions of dollars are stolen through scams and fraud each year involving one of the most popular electronic options for making payments: Zelle. Now, the banks may be negotiating new ways to protect customers.

Beware of payment scams: If an offer sounds too good to be true, it probably is. For example, a stranger selling online concert tickets at a steep discount and insisting you pay with Zelle^® may be a scam. Zelle^® does not offer purchase protection, so pay it safe. Only send money to people you personally know and trust.

Ask for the recipient's Zelle email address — not a phone number. Spotting typos in email addresses is easier (and more obvious) than identifying incorrect digits in a phone number. Remember that you don't need a Zelle business account to make and accept payments on Zelle.

How do I avoid fees on Zelle? ›

If using the Zelle app independently, users can send up to $500 per week. Zelle also does not charge fees for making instant transfers into your bank account, unlike competitors like Venmo, PayPal, and CashApp.

We recommend that you do not use Zelle® to send money to those you do not know. Transfers require enrollment in the service with a U.S. checking or savings account and must be made from an eligible Bank of America consumer or business deposit account.

Someone sent me money with Zelle®, how do I receive it? If you have already enrolled with Zelle^®, you do not need to take any further action. The money will move directly into your bank account associated with your profile, typically within minutes¹.

What Banks Use Zelle? Zelle is compatible with nearly all major banks, and most even have the service integrated into their mobile banking app. Consumers who download Zelle's standalone app must provide a phone number or email and debit card information to be able to receive and send funds.

If money is sent and the recipient isn't enrolled with Zelle, they'll get a notice with instructions on how to register. If you sent funds to their mobile phone number, they'll get a text message. If you sent funds to their email address, they'll get an email.

Despite being a target for scams and fraudulent activities, Zelle is safe to use when transferring cash to friends, family, and people you know well — for example, your babysitter or neighbor.