Zelle

What Zelle is

Zelle lets people send, request, and receive money through a participating bank or credit union’s app or online banking. It is offered through more than 2,400 banking and credit union apps, as well as on Android, iOS, and the web. A sender can address a payment using a recipient’s email or U.S. mobile number; eligible small business accounts may also use Zelle tags. Transfers are described as instant, and transfer tracking is available. Both parties need eligible U.S. checking or savings accounts and U.S. bank accounts, and both must be enrolled for money to arrive in minutes. Eligible small businesses can request or receive customer payments and send money to customers, vendors, and employees. Each institution sets sending and receiving limits. Zelle says payments to enrolled recipients cannot be reversed; a payment can only be canceled before enrollment. It does not offer a protection program for authorized payments when goods or services are not received or do not match their description. Consumer use is typically fee-free, but users should check with their bank or credit union.