If you have first heard of Zelle, when you are looking to transfer funds to family or friends, you may be unsure of using this method of payment. However, Zelle’s popularity is increasing among those making payment transfers online. So now is the time to learn what Zelle is and how you can benefit from using it for online transactions.
We have gathered some basic information about Zelle to help you to understand what the payment transfer method is.
The Basics
Zelle has been designed as a payment transfer method that can be used even if you bank with a different bank to the person you want to transfer money to. If you want to make a quick transfer of cash to a friend, neighbor, or acquaintance without asking them for their bank details or giving over yours, you can use Zelle.
How do I access Zelle?
Zelle is accessed via your own bank’s banking app. You can log into your bank’s app and choose the option for Zelle even if the person you are transferring to banks with another bank. If you have Zelle and have transferred a payment to a friend, you can check if they have received it by checking the payment status.
If you are looking at the payment status and asking yourself why is my Zelle payment pending, you should ask the person you have transferred to if they have set up Zelle. If they have not registered their account details with Zelle, your payment will not be able to go through.
If someone sends you money and you have already set up Zelle, you do not need to do anything further, as the payments will automatically transfer into your bank account. If you have not set up Zelle and therefore have not received the payment sent, it is easy to set up Zelle.
How to set up Zelle?
If your bank is one of the 1,000 banks already offering Zelle as a transfer option, you can follow the setup process in the banking app. If you are unsure whether or not your bank is already a partner with Zelle, you can check on the Zelle website. Zelle list all of their banking partners on their website in alphabetical order, so it is quick and easy to find out if they are partnered with your bank.
If your bank has not partnered with Zelle and you cannot access Zelle through the bank app already on your cell phone, you can download the Zelle app. The setup process through the Zelle app is also very quick to complete, and the app is easy to use.
After you have set up your Zelle account, either through your bank app or via the Zelle app, you can send money, providing you know the US cell phone number or the email address of the recipient of your payment. Not needing bank details to make the payment makes some people more comfortable with receiving transfers via Zelle as they do not need to give personal financial details to others.