![]() Your friend will also need to have a Zelle account to receive any money if they don't, and the funds are left in limbo, the transaction will be cancelled and the money will return to you. The Zelle app is free to use, but your bank might still charge fees for its services, so definitely double-check the small print. However, if your bank isn't part of the network, you can download the app for Android or iPhone on your own and attach your Visa or Mastercard debit card instead to move money around. This is actually a pretty significant difference from Venmo, which acts as a wallet to hold and transfer money held in a Venmo account.Īccording to Zelle, hundreds of banks and credit unions have integrated the company's services within their own banking apps as part of the Zelle Network. ![]() banking account, email address, and a mobile number.īeing made by a company owned by banks means Zelle focuses on banks with its service: Users transfer money directly through their bank accounts. ![]() ![]() It launched in 2017 offering person-to-person (P2P) payments and only requires a U.S. Zelle is a money transfer app owned by Early Warning Services, a financial tech company owned by the U.S.'s seven largest banks, including Bank of America, Capital One, JPMorgan Chase, and Wells Fargo. ![]()
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