Which banks accept Zelle?
Zelle, a new payment service backed by more than 30 US banks, will launch its standalone app on September 12th to take on competitors like Venmo and Square Cash. The network had been quietly powering money transfers for major US banks including Bank of America, Chase, Wells Fargo, and Citibank since launching in June.
Zelle is a U.S.-based digital payments network owned by Early Warning Services, a private financial services company owned by the banks Bank of America, BB&T, Capital One, JPMorgan Chase, PNC Bank, US Bank, SunTrust and Wells Fargo.
- Once that payment completes, that recipient will be able to receive future payments faster, typically within minutes1. If it has been more than three days, we recommend confirming that the person you sent money to has activated their Zelle profile and that you entered the right email address or U.S. mobile number.
- You can only cancel a payment if the recipient hasn't yet enrolled with Zelle. You can go to your activity page within the Zelle experience, either within your mobile banking app or the Zelle app, choose the payment you want to cancel, and then select “Cancel This Payment.”
- Popmoney is an innovative personal payment service that eliminates the hassles of checks and cash. Now, sending and receiving money is as easy as emailing and texting. And you don't need a new account to send or receive money.
Chase Person-to-Person QuickPaySM is a free online service that allows users with a Chase checking account to send money to and receive funds from virtually anyone with an e-mail address and a valid U.S. bank account. You don't need to be a Chase customer to use the service.
- To send a payment, log on to your Chase account either online, or using the Chase Mobile® app. Tap the Nav Menu at the top left of the main screen… Select “Chase QuickPay.” From here, you have the option to Send Money, or even Request Money if you need to collect a payment from someone…
- You may make transfers from External Accounts or consumer Chase checking accounts in amounts of up to $2,000 per transaction with a maximum of $2,000 per day, $8,000 in any seven (7) day period, and $16,000 in any thirty (30) day period, from all your combined accounts registered with Chase QuickPaySM.
- If you are the owner of both accounts, you can set your BofA account up as an external account on Chase's website. It's under the payments and transfers tab. Once you verify the BofA info, you can move money back and forth. If you are not the owner on the BofA account, you can use Chase QuickPay to send/receive money.
Here's a list of the banks that are participating in Zelle:
- Ally Bank.
- Bank of America.
- Bank of Hawaii.
- Bank of the West.
- Capital One.
- Zelle Name Meaning. German and Dutch: topographic name from Middle High German zelle '(hermit's) cell' or habitational name from a place called Zelle or Celle (see Zeller).
- Cash and Form 8300. When you deposit $10,000 or more in cash at the bank, the IRS requires the bank to complete a Form 8300. This form is for reporting any transaction or series of related transactions in which the total sum is $10,000 or more; a pair of $5,000 deposits, for example, will also wind up on Form 8300.
- It seems appropriate that the crime of structuring is also sometimes called smurfing. Generally speaking, structuring is the act of breaking up financial transactions to get around the federal reporting requirements that kick in for transactions over a specific amount of money.
Updated: 26th October 2019