What Banks Use Zelle? (List Of Online And Local Banks)

In an increasingly digital world, the need for quick and convenient money transfer services has never been more prominent. Zelle, a peer-to-peer payment service, has gained immense popularity for its ability to facilitate instant money transfers between bank accounts. But not all banks support Zelle. This blog post will explore which banks use Zelle , how it works, and answer common questions about the service.

Pro tip: Check Out this Updated List of Banks That Use Zelle

What is Zelle?

Zelle is a digital payment network that allows users to send and receive money directly from their bank accounts in a matter of minutes. Launched in 2017 by Early Warning Services, LLC, Zelle aims to make sending money as easy as sending a text message. What sets Zelle apart from other payment services like PayPal or Venmo is its integration with participating banks, allowing users to send money directly from their bank accounts without needing to hold a separate balance in a third-party app.

How Does Zelle Work?

Using Zelle is straightforward:

1. Enrollment: Users must enroll through their bank’s mobile app or website if their bank offers Zelle. If a bank does not support Zelle, users can download the standalone Zelle app and link their debit card.
2. Sending Money: To send money, users enter the recipient's email address or mobile number, specify the amount, and hit send. The funds are typically transferred within minutes.
3. Receiving Money: If someone sends you money through Zelle, you'll receive a notification. If you’re already enrolled, the funds will automatically deposit into your account. If not, you’ll need to enroll to claim the funds.

List of Banks That Use Zelle

Many major financial institutions in the United States offer Zelle to their customers. Here’s a comprehensive list of banks that support Zelle:

Major Banks That Use Zelle

1. Amalgamated Bank.
2. Bank of America.
3. BMO.
4. Chase.
5. Citibank.
6. Citizens Bank.
7. Fifth Third Bank.
8. First National Bank of Omaha.
9. Flagstar Bank.
10. Huntington Bank.
11. KeyBank.
12. M&T Bank.
13. PNC.
14. Regions Bank.
15. Santander Bank.
16. TD Bank.
17. Truist Bank.
18. U.S. Bank.
19. USAA Bank.
20. Wells Fargo.

Credit Unions That Use Zelle

1. America First Credit Union.
2. Andrews Federal Credit Union.
3. Bethpage Federal Credit Union.
4. BECU (Boeing Employees Credit Union).
5. Community First Credit Union of Florida.
6. Consumers Credit Union.
7. Delta Community Credit Union.
8. First Tech Federal Credit Union.
9. Golden 1 Credit Union.
10. Navy Federal Credit Union.
11. SchoolsFirst Credit Union.
12. Service Credit Union.

Online Banks That Use Zelle

1. Ally Bank.
2. Bank5 Connect.
3. Capital One.
4. CFG Bank.
5. Charles Schwab Bank.
6. CIBC U.S.
7. CIT Bank.
8. Discover? Bank.
9. EverBank.
10. First Internet Bank.
11. Forbright Bank.
12. Laurel Road Bank.
13. My Banking Direct.
14. Poppy Bank.
15. Quontic Bank.
16. Salem Five Direct.
17. SoFi
18. Varo Bank

Payment Apps:

Zelle also collaborates with standalone apps like the Zelle app, which allows users to send and receive money even if their bank does not offer Zelle directly.

Advantages of Using Zelle

1. Speed: Unlike traditional bank transfers that may take a few days, Zelle transactions occur in real-time, making it ideal for urgent payments.
2. No Fees: Most banks do not charge fees for using Zelle, making it a cost-effective option for money transfers.
3. Ease of Use: The integration with banks means you don’t need to create a separate account or wallet, streamlining the process.
4. Security: Zelle transactions are encrypted, and the service is backed by major banks, providing an added layer of security.
5. Wide Acceptance: With a growing number of banks and credit unions participating, Zelle has become a widely accepted payment method.

Disadvantages of Using Zelle

1. Limited to U.S. Banks: Zelle is only available for U.S. bank accounts, making it unsuitable for international transactions.
2. No Purchase Protection: Unlike credit cards, Zelle does not offer buyer protection for transactions, meaning once you send money, it is often irreversible.
3. Eligibility Issues: Some banks may require you to have an account with them before you can use Zelle, limiting its accessibility.
4. Recipient Requirements: The recipient must also be enrolled in Zelle to receive money instantly.

Frequently Asked Questions

Is Zelle free to use?

Yes, Zelle is typically free to use through participating banks. However, it’s always advisable to check with your bank for any potential fees.

Can I use Zelle without a bank account?

Yes, you can use the standalone Zelle app if your bank does not support Zelle. However, a debit card is required to link to your account.

How long does it take to send money using Zelle?

Transactions are usually processed within minutes, although in some cases, it may take up to a few hours if the recipient is not enrolled in Zelle.

What happens if I send money to the wrong person?

If you send money to the wrong person, you cannot reverse the transaction. Always double-check the recipient's details before sending money.

Can I use Zelle internationally?

No, Zelle is only available for users with U.S. bank accounts. International transfers cannot be made using Zelle.

What should I do if I encounter issues with Zelle?

If you experience problems with Zelle, contact your bank’s customer service for assistance, as they can help resolve any issues.

Conclusion

Zelle has transformed the way we think about money transfers, making it easier and faster to send money directly from bank to bank. With many major banks and credit unions supporting the service, users have a convenient option for quick transactions without the hassle of fees or waiting times. However, it’s essential to understand both the advantages and limitations of Zelle to make the most of this powerful tool.