Some of the biggest banks in the US have decided to affiliate with “Zelle”, a new Person-to-Person (P2P) payment service that works faster than Venmo. Zelle is now integrated into the mobile banking apps of the participating banks. With Zelle, account holders can send and receive the money within minutes. The P2P process has been designed to transfer funds from one account to another, quickly and hassle-free.
To send money, all you must do is to provide the email address or mobile phone number of your recipient. Although the process is the same as Venmo’s, Zelle’s edge lies on its wide coverage since the service has been backed by over 50 major banks such as Chase, Bank of America, Wells Fargo, and more. The service is now open to 86 million account holders.
Initially, Zelle cannot function on its own because it was created to live within the mobile banking apps but now, a standalone app is available. With the introduction of Zelle, new players on the field are coming out too, which will take a chunk off Venmo’s market share.
Zelle Bank List
Many financial institutions have partnered with Zelle to offer the service to their customers. The list is growing every day. Below we list out the main ones as it stands today.
Banks That Use Zelle Nationally In The USA
Below are the main brick and mortar high street banks that are currently participating in the Zelle service in the USA:
- Ally Bank
- Bank of Hawaii
- Bank of the West
- Capital One
- Citizens Bank
- Comerica Bank
- ConnectOne Bank
- Dollar Bank
- First National Bank
- Fifth Third Bank
- U.S. Bank
- TD Bank
- PNC Bank
Small Regional US Banks That Participate In Zelle
Here is a list of smaller regional banks that offer Zelle as part of their services:
- SunTrust Bank
- MB Financial Bank
- M&T Bank
- Home Street Bank
- Frost Bank
- Frederick County Bank
- First Tennessee Bank
International US Banks That Support Zelle
Below we details the large major US banks that operate internationally and support the zelle service:
- Bank of America
- Citi Bank
- JP Morgan Chase
- Morgan Stanley
- Wells Fargo
Why is Zelle better than Venmo or Apple?
If your recipient’s bank is one of Zelle’s partner banks, it will only take a few minutes for the transfer to be completed. With Venmo, your transfer takes one to two business days.
With Apple, the money sent to you will be credited to your Apple Pay cash card that is integrated into the Wallet app. You can then transfer your cash card balance to your bank account.
Apple launched a new version of Apple Pay that supports P2P payments in iOS11, updated software for iPhones and iPads. iPhone users will be able to send money via text message because the new P2P service has been integrated into iMessage. To ensure the security of each transaction, you need to verify your identity through Touch ID.
Frequently Asked Questions About Zelle
Below we answer the most commonly asked about the zelle service. If you cant find what you are looking for please email us and we will get you an answer.
Does Zelle Partner With All Of The Banks Globally?
Zelle is the best way to send money with more banks already on board and a standalone app for people who want maximum convenience. Zelle has been around since 2016, but it’s only in recent months that major banks like jp morgan chase have started supporting Zelle which means your cash will be used even faster because there are now many ways you can use its service. They say this new partnership makes sending funds easier than ever before. However not ALL banks offer the service currently. Refer to the list at the top of this page to see all banks that participate.
If My Bank Doesn’t Support Zelle Can I still Use It?
You can be a part of the Zelle® Network, even if your bank is not offering it! It is now not necessary to have a zelle compatible bank in order to use the service. You’ll need to download and enroll an eligible Visa or Mastercard debit card in order to use it. You don’t have to wait for your old-fashioned bank account, you could join the 21st century with Zelle®.
Why Doesn’t Zelle Connect To My Personal Bank Account?
First check the zelle bank network list above to see if your bank supports You may need to contact your credit union or bank to verify the debit card information they have on file. Once you’ve verified that, please try again.