![]() ![]() With Venmo, Apple Pay, Square Cash, and others, you also must explicitly move the money from the app/service's account to your bank account to actually own it. Probably my favorite thing about Zelle is that the money goes directly into the bank account, rather than sitting in the middleman holding pen as is the case for all the other services. That's pretty steep, especially if you transfer a large amount. If you want to transfer money to your bank account from Venmo instantly, it's 25 cents per transaction, and Square Cash charges 1 percent for instant deposits. Since you can't use a credit card as the source of your payment, you'll never see the standard 3 percent fees for those transactions as you do on other services like PayPal. Though the Zelle FAQ says there may be charges from your bank, mine confirmed that it doesn't charge any. Zelle doesn't charge any fees for moving the money, which is another huge advantage over traditional bank wire transfers, which can easily cost $25. Unlike Venmo, Zelle doesn't require this memorandum. On the final confirmation page, there's a blank space to put a note about the payment. If your payee has also signed up for Zelle, the transaction happens in a few minutes-by far the quickest of any peer-to-peer payment service. You can set a date in the future if you want the payment to go through later. You can't send amounts smaller than $1 through the service. Adding from existing contacts is a lot simpler. You can either add a new contact by entering the name, phone number, email address, or 9-digit bank routing number. Tapping Send opens an empty Contacts page. The Zelle interface is very simple: It's just a mostly white screen with Send, Request, and Split choices. To send money, all you need is your friend's mobile number or email address. Your money recipient doesn't need to have the Zelle app set up on their smartphone ahead of time when you send it to them (although they need to enroll into Zelle either online or in their bank app to get the money). Zelle is US-only, so if your recipient lives abroad, look to an alternative, such as PayPal, Xoom, or Remitly. (Opens in a new window) Read Our Samsung Pay Review Paying People With Zelle If your bank isn't on the list, you enter debit card details. Since my bank's app includes Zelle support, the Zelle app simply forwarded me to the bank app. After confirming with a text message, I was ready to start sending and receiving money with Zelle.įor the standalone Zelle app, you have to allow notifications and location access, and then you choose your bank logo from a list. All I had to do was accept getting SMS text messages on the phone I use for the app, choose a primary account (I chose Interest Checking), and confirm the mobile number and my email address. I tested Zelle within the app from my bank, Ally, a completely online bank. Zello app review install#Since 1982, PCMag has tested and rated thousands of products to help you make better buying decisions. ( Read our editorial mission (Opens in a new window) & see how we test everything we review (Opens in a new window).)Īfter clicking into your bank's page there, you can see whether the bank's app included Zelle support or you need to install the separate Zelle app. Zello app review how to#
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