Have you heard of Zelle before as an easy way to send and receive money from family and friends? Within minutes, you can receive money into your bank account or send money to likewise to another person within a short frequency. However, this is available only in the United States of America for easy money transactions. This is because you can access it on your mobile device and in your banking app. there are two ways you can use this service; using the mobile app when you want to make transactions or using the official web page and click on “GET STARTED.”
This is a product of a group of the largest American banks for payment processing networks. This idea was brought about to ensure an easy and better life. When we talk about technologies that make life better, we count Zelle. It was formally known as ClearXchange, Thus, it works by moving money directly from one bank account to another.
Features of Zelle
- Very Fast: both setting up IOUS and splitting the cost of takeout, you can easily send money to someone within minutes and seconds.
- Easy: You don’t need to undergo so many steps to be able to process your transactions. Especially when you have the banking app in your mobile phone.
- Safe: It ensures safe money transfer. It does not need any third-party app to confirm your transaction in order to transfer money, thereby making it safe to use.
Note: As a result of connecting your bank directly to Zelle, making use of Zelle does not require any need of an ATM or mail a check before you can send money across. Moreover, it is backed up by so many major United States banks and supported by all banks.
How to use Zelle
However, Zelle can be accessed via your bank or credit union. So now you need to first check if your bank offers Zelle. You can do that simply by following the below steps:
- Visit Zelle web page at Zelle.
- Hit the “Get started” link on the top right corner of the page. You will get to see the list of banks and credit unions that offers Zelle.
- If you find your bank or credit union, then you can successfully enroll in using Zelle to send and receive money.
- Next, select your bank and click on “Continue to your Bank” and then quickly follow the onscreen instructions to carefully register.
How to Transfer Money with Zelle
- Go on to Zelle Platform with the mobile app, banking app or web page.
- Enter your recipient.
- Enter the amount you are transferring.
- Choose your funding bank account.
- Go through the details you enter before you confirm the transaction.
- When you click on the send button, the recipient will receive an email or text message with instructions on how to receive the transfer.
In case the recipient is not registered with Zelle, the recipient would be prompted to engage in a one-time setup so that you can follow the directions on how to receive the transfer into their account.
Zelle Transfer Limit
The transactions made with Zelle are under some limited frequency which is scheduled in days, Week, Month. But then Zelles has no limit to the number and amount of transfer made, it is the bank that places a transfer limit. On that note, we will take a look at the banks that supports Zelles and its own set of Zelles transfer limits.
Bank of America
1. For sending Limit in a Day = $3,500
For sending Limit in a Weak =$10,000
3.For sending Limit in a Month =$20,000
1.For sending Limit in a day = $5,000
For sending limit in a week = $15,000
3.For sending limit in a month = $15,000
For sending Limit in a day- $1,000
2.For sending limit in a week- $7,000
3.For sending limit in a month- $5,000
1.For sending Limit in day = $2,500
2.For sending Limit in a week = $10,000
3.For sending Limit in a month = $10,000
1.For sending Limit in a day- $2,500
2.For sending limit in a week- $17,000
3.For sending limit in a month- $20,000
You should go for the Zelle app as it has a friendly user interface and can be compatible with android and iOS devices. For that, you have to visit your app market and get the app. It makes it more convenient and easy for you to send and receive money.