Zelle for money transfer

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tc101
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Zelle for money transfer

Post by tc101 »

Have you used Zelle an do you like it?

Can you set it up to use on a browser on a desktop computer, or do you have to use an app on a phone?

Is there any way to link it to a Vanguard, Fidelity or Schwab account?
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go_mets
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Re: Zelle for money transfer

Post by go_mets »

I have only used it to send and receive money when both banks participated.
I log into my bank's website to send money.
I don't use my bank's app so I don't know if it is there as well. I suspect it is.


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tc101
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Re: Zelle for money transfer

Post by tc101 »

"I log into my bank's website to send money."
What bank are you using ?
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lthenderson
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Re: Zelle for money transfer

Post by lthenderson »

I use Zelle quite regularly and it works well. I mostly use it from my smart phone if I'm out and about and need to send money. It does have limitations on who you can send money too. I think it only works domestically.

I just signed up for ExpressSend (Wells Fargo) today which when verified, will allow me to send money overseas for a minimal fee.
TravelforFun
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Re: Zelle for money transfer

Post by TravelforFun »

tc101 wrote: Tue Jun 09, 2020 1:18 pm Have you used Zelle an do you like it?

Can you set it up to use on a browser on a desktop computer, or do you have to use an app on a phone?

Is there any way to link it to a Vanguard, Fidelity or Schwab account?
I have a checking account at Bank of America and use Zelle regularly both to pay and to receive payments without problems.

TravelforFun
runner3081
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Re: Zelle for money transfer

Post by runner3081 »

Send and receive weekly on Zelle. Both Chase and Ally banks. App and web interface.

Works great, never an issue.
Silk McCue
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Re: Zelle for money transfer

Post by Silk McCue »

I use Zelle a few times a year. Extremely easy to use. I use it via my Bank of America app or Wells Fargo App. I could also login to the bank accounts online and perform the Zelle transaction there. No idea if the Brokerages can be used but highly unlikely that VG will.

I checked the Fidelity site - they support a number of options but not Zelle. Here is a link to their page.

https://www.fidelity.com/cash-managemen ... e-payments

Cheers
HomeStretch
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Re: Zelle for money transfer

Post by HomeStretch »

Works well for me for family $ transfers. No fee for my transfers. I transfer money using Zelle from my bank account which is accessible via bank’s mobile app or my online bank account accessed on my laptop.

Sender can transfer money to a recipient using recipient’s email address or mobile phone #. The recipient needs to sign up with Zelle and enroll the email address or mobile # that the sender uses for the transfer. As a recipient, I used the Zelle app to sign up (don’t know whether there is website signup), provide my email and, as my bank does not participate in the Zelle network, I provided my debit card # so Zelle can deposit transfers in my bank account.

As Fidelity does not participate in Zelle network, I could use a Fidelity CMA debit card to receive Zelle transfers. I can’t receive Zelle transfers at Vanguard. No idea about Schwab.

The transfers are very fast (minutes/hours). Sender and recipient receive a text or email alert about the transfer.
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anon_investor
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Re: Zelle for money transfer

Post by anon_investor »

I have used it on occation from Ally Bank app and website to send money to relatives. Never any issues. I use Venmo or Paypal more with friends, more people seem to have it.
UpperNwGuy
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Re: Zelle for money transfer

Post by UpperNwGuy »

anon_investor wrote: Tue Jun 09, 2020 1:51 pm I have used it on occation from Ally Bank app and website to send money to relatives. Never any issues. I use Venmo or Paypal more with friends, more people seem to have it.
How do Zelle, Venmo, and PayPal differ from one another? I've had PayPal for 15 years, but have no experience with the other two.
cutterinnj
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Re: Zelle for money transfer

Post by cutterinnj »

tc101 wrote: Tue Jun 09, 2020 1:18 pm Have you used Zelle an do you like it?

Can you set it up to use on a browser on a desktop computer, or do you have to use an app on a phone?

Is there any way to link it to a Vanguard, Fidelity or Schwab account?
I have TD bank which uses Zelle built in.
I’ve used Zelle since February to automate weekly child support and twice monthly alimony payments to my ex.

It is a lifesaver. Works great; hasn’t been late on a payment.
Horsefly
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Re: Zelle for money transfer

Post by Horsefly »

I use Zelle to pay our housekeeper from my Ally checking account. It took a little effort to get her to understand how to set it up on her end (she speaks broken english), but once we got it set up it has been flawless. From the time I press the button to send the payment, she usually tells me that her bank texted her that it was in her account within 30 seconds.

I really don't like writing checks any longer, for multiple reasons. I wish I could get the gardener to set up Zelle, but he speaks less english than my housekeeper, so it is probably a bridge too far.

Clark Howard says that Zelle has some security issues, so he suggests not using it except with people you know and trust. I'm not sure what the issues are though.
rjbraun
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Re: Zelle for money transfer

Post by rjbraun »

UpperNwGuy wrote: Tue Jun 09, 2020 2:15 pm
anon_investor wrote: Tue Jun 09, 2020 1:51 pm I have used it on occation from Ally Bank app and website to send money to relatives. Never any issues. I use Venmo or Paypal more with friends, more people seem to have it.
How do Zelle, Venmo, and PayPal differ from one another? I've had PayPal for 15 years, but have no experience with the other two.
On a practical level my recollection is that I incurred fees with PayPal. No fees involved with Zelle :happy
fortunefavored
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Re: Zelle for money transfer

Post by fortunefavored »

Zelle, Paypal Friends & Family, Venmo, Square Cash have effectively zero fraud protections. That is one reason they are free. You should be extremely careful who you send money to. Type in the wrong phone number or email address or accidentally add some zeroes, and your recourse is limited.

"real" Paypal and "real" Square include fraud protection similar to credit cards (but not identical) - but that is why they charge a service fee.
JonnyB
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Re: Zelle for money transfer

Post by JonnyB »

Zelle can be handy for small sums but be very careful about sending large amounts. When you send money, it disappears instantly from your checking account and cannot be recovered. If you type in an incorrect email address or phone number, there is no mechanism for getting your money back. It's as if you dropped off an envelop of cash at someone's house, but later found out it was the wrong house. You cannot compel them to give you your cash back.
inbox788
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Re: Zelle for money transfer

Post by inbox788 »

Zelle sucks!

Use Venmo or Paypal if you can. Are there other options? Square?

I've used Zelle, Venmo and Paypal and the latter 2 (really same company) suck less, but at least work. Zelle wouldn't work and you can't use it without your bank, which is part of the problem. Bank blames Zelle, Zelle blames bank. Got my bank account locked wiped out for trying to make a Zelle payment (they deleted my online bank account for security reasons).
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legio XX
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Re: Zelle for money transfer

Post by legio XX »

rjbraun wrote: Tue Jun 09, 2020 2:28 pm On a practical level my recollection is that I incurred fees with PayPal. No fees involved with Zelle :happy
So how do they make their money?
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tc101
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Re: Zelle for money transfer

Post by tc101 »

Got my bank account locked wiped out for trying to make a Zelle payment (they deleted my online bank account for security reasons).
You don't mean all the money was taken out of your account do you? You just mean they closed your account, correct? Did you lose any money? Were you able to reopen the account?

Has anyone else had this kind of problem?
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Pacific
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Re: Zelle for money transfer

Post by Pacific »

inbox788 wrote: Tue Jun 09, 2020 2:37 pm Zelle sucks!

I've used Zelle, Venmo and Paypal and the latter 2 (really same company) suck less, but at least work. Zelle wouldn't work and you can't use it without your bank, which is part of the problem.
Um, isn't your bank account the source of the funds you are sending?
fortunefavored
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Re: Zelle for money transfer

Post by fortunefavored »

legio XX wrote: Tue Jun 09, 2020 2:44 pm
rjbraun wrote: Tue Jun 09, 2020 2:28 pm On a practical level my recollection is that I incurred fees with PayPal. No fees involved with Zelle :happy
So how do they make their money?
Zelle was created by the big banks to avoid being made obsolete and cut out of the intermediary market (Paypal, Square, Stripe, Paytm, and dozens of others)

The same reason those other places offer "free" offerings - they hope to maintain you as a customer and use other money making services.
inbox788
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Re: Zelle for money transfer

Post by inbox788 »

Pacific wrote: Tue Jun 09, 2020 2:57 pmUm, isn't your bank account the source of the funds you are sending?
Zelle is more like Visa or MC, where the bank has less control than Amex or Discover where they're integrated. Anyway, bank kept blaming Zelle, and Zelle referred back to bank. Don't know which security or both were triggered, but "for your protection", they wouldn't let the transaction go through, and things got worse from there.

When there is a problem with a transaction with your Elan Financial Services Fidelity Visa, who do you call? Well, it all depends on the problem, but often there's a lot of fingerpointing.
3feetpete
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Re: Zelle for money transfer

Post by 3feetpete »

I've used it a couple of times to send money to a couple of relatives. Worked well although the daily limit was low. For one person the daily amount was 1500. For the other $500. No explanation why.
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anon_investor
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Re: Zelle for money transfer

Post by anon_investor »

UpperNwGuy wrote: Tue Jun 09, 2020 2:15 pm
anon_investor wrote: Tue Jun 09, 2020 1:51 pm I have used it on occation from Ally Bank app and website to send money to relatives. Never any issues. I use Venmo or Paypal more with friends, more people seem to have it.
How do Zelle, Venmo, and PayPal differ from one another? I've had PayPal for 15 years, but have no experience with the other two.
Venmo is basically the same as PayPal, you can link multiple banks and CCs to make payments. Zelle only allows you to send from 1 bank to someone else who has a bank account linked to Zelle.
Blue456
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Re: Zelle for money transfer

Post by Blue456 »

tc101 wrote: Tue Jun 09, 2020 1:18 pm Have you used Zelle an do you like it?

Can you set it up to use on a browser on a desktop computer, or do you have to use an app on a phone?

Is there any way to link it to a Vanguard, Fidelity or Schwab account?
I use it to transfer between my accounts. I have it set up on my mobile app and desktop. Works as advertised. I don't do transactions higher than several hundred dollars. I like it, transfer is instant.
tsohg
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Re: Zelle for money transfer

Post by tsohg »

I've used Zelle, it works. I wish it had higher limits ($5k for me, unsure if that's daily or weekly or what, but it's annoying). Bank-- Comerica-- can't increase it, either.
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whodidntante
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Re: Zelle for money transfer

Post by whodidntante »

UpperNwGuy wrote: Tue Jun 09, 2020 2:15 pm
anon_investor wrote: Tue Jun 09, 2020 1:51 pm I have used it on occation from Ally Bank app and website to send money to relatives. Never any issues. I use Venmo or Paypal more with friends, more people seem to have it.
How do Zelle, Venmo, and PayPal differ from one another? I've had PayPal for 15 years, but have no experience with the other two.
PayPal has a reputation for reversing transactions and putting inexplicable holds on people's hard earned money. For example, one year the Bogleheads conference dues were payable through Paypal, and Paypal saw fit to hang onto the money. Not sure if they ever released it. Mel, any update?

However, I will say that I've used all those services and I've never personally had an issue. All transactions went as they should have and everyone was happy.
L82GAME
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Re: Zelle for money transfer

Post by L82GAME »

Clark Howard’s opinion about Zelle:

https://clark.com/personal-finance-cred ... s-to-know/
“Simplicity is the ultimate sophistication.” - Lao Tzu
Kompass
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Re: Zelle for money transfer

Post by Kompass »

Horsefly wrote: Tue Jun 09, 2020 2:26 pm I use Zelle to pay our housekeeper from my Ally checking account. It took a little effort to get her to understand how to set it up on her end (she speaks broken english), but once we got it set up it has been flawless. From the time I press the button to send the payment, she usually tells me that her bank texted her that it was in her account within 30 seconds.

I really don't like writing checks any longer, for multiple reasons. I wish I could get the gardener to set up Zelle, but he speaks less english than my housekeeper, so it is probably a bridge too far.


Clark Howard says that Zelle has some security issues, so he suggests not using it except with people you know and trust. I'm not sure what the issues are though.
Same problem, I had my housekeeper show the gardener how to set it up with his bank, they both seem to like getting money instantly straight to their bank.

I don’t like checks anymore because people use mobile apps to deposit them therefore the bank is not destroying them. I get concerned about pieces of paper floating around that have my name, bank and account number printed on them.
Katietsu
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Re: Zelle for money transfer

Post by Katietsu »

I have used Zelle, PayPal, and Venmo. I tend to keep a low 5 digit balance in my primary checking account. So I set up a second account that I normally keep less than $1000 in. I link that account to the above services as well as things like my Target RedCard. Additionally, the maximum initial payment I have made is $500. Usually, I keep the first payment under $100. After that, the person is in my contact list and I can make a bigger payment without worrying about a typo. No one is on the contact list that I do not trust to return the money if I misdirected it. With all that, it seems a lot safer than cash or check.
hfj
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Re: Zelle for money transfer

Post by hfj »

We primarily use it for payments to our daughter's weekly music lessons. We asked our teacher if we could set that up (she hadn't done it before), as it saves us from having to remember to bring cash or a check. She really likes it because payments show up in her account quickly with no hassle, and there's a record of payment, so she tries to get all her students to use it.
Lastrun
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Re: Zelle for money transfer

Post by Lastrun »

JonnyB wrote: Tue Jun 09, 2020 2:35 pm If you type in an incorrect email address or phone number, there is no mechanism for getting your money back. It's as if you dropped off an envelop of cash at someone's house, but later found out it was the wrong house. You cannot compel them to give you your cash back.
There is truth to this and also some overstatement. I use Zelle to send money to people I know— housekeeper, family. I would not use it otherwise. Also, they way mine works on Ally and BofA, I put people in the system and then they are available from a drop down list thereafter on the online banking site. So the risk stated above is only on the first transaction. So I do a test send of $5.00 on the first send. Thereafter, I just look for the name in the drop down list.

I get more and more concerned everyday with sending physical checks with my name, address, bank, routing number, account number, and signature..... Who thinks this is safe anymore?
furwut
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Re: Zelle for money transfer

Post by furwut »

I use Zelle via my bank’s app. Works well when sending money to previous recipients. The money usually transfers in less then 5 minutes.

To send money to a new recipient one needs the phone number or email address they have registered with Zelle. I suggest using an email address, if possible, as a typo might be less likely. If you enter the wrong phone number or email it’s possible the money would go to the different person.

EDIT - And the above suggestion to confirm a trial deposit first is a good idea!
Last edited by furwut on Tue Jun 09, 2020 7:02 pm, edited 1 time in total.
furwut
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Re: Zelle for money transfer

Post by furwut »

fortunefavored wrote: Tue Jun 09, 2020 2:59 pm
legio XX wrote: Tue Jun 09, 2020 2:44 pm
rjbraun wrote: Tue Jun 09, 2020 2:28 pm On a practical level my recollection is that I incurred fees with PayPal. No fees involved with Zelle :happy
So how do they make their money?
Zelle was created by the big banks to avoid being made obsolete and cut out of the intermediary market (Paypal, Square, Stripe, Paytm, and dozens of others)

The same reason those other places offer "free" offerings - they hope to maintain you as a customer and use other money making services.
Banks also save money with Zelle by avoiding the costs of physically processing a check.
go_mets
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Re: Zelle for money transfer

Post by go_mets »

tc101 wrote: Tue Jun 09, 2020 1:26 pm
"I log into my bank's website to send money."
What bank are you using ?
I used to use TD Bank but my local B&M bank you would not know has it.

My mom has Chase so that's how she gives me money. :happy
go_mets
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Re: Zelle for money transfer

Post by go_mets »

inbox788 wrote: Tue Jun 09, 2020 2:37 pm Zelle sucks!

Use Venmo or Paypal if you can. Are there other options? Square?

I've used Zelle, Venmo and Paypal and the latter 2 (really same company) suck less, but at least work. Zelle wouldn't work and you can't use it without your bank, which is part of the problem. Bank blames Zelle, Zelle blames bank. Got my bank account locked wiped out for trying to make a Zelle payment (they deleted my online bank account for security reasons).
I have my Bank of America credit card linked to Paypal.
From past bad experience with Paypal, I did not have my bank account linked.
On my last statement BoA started treating money sent from Paypal to a person as a cash advance.
BoA charged $10 and interest.
I called and got a one-time fee removal, so lesson learned.
explanation : https://www.nytimes.com/2020/04/24/your ... ments.html

Venmo is owned by Paypal

.
BW1985
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Re: Zelle for money transfer

Post by BW1985 »

There are horror stories out there. Personally I don't use it for any significant amount of money.
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?
inbox788
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Re: Zelle for money transfer

Post by inbox788 »

go_mets wrote: Tue Jun 09, 2020 7:23 pm
inbox788 wrote: Tue Jun 09, 2020 2:37 pm Zelle sucks!

Use Venmo or Paypal if you can. Are there other options? Square?

I've used Zelle, Venmo and Paypal and the latter 2 (really same company) suck less, but at least work. Zelle wouldn't work and you can't use it without your bank, which is part of the problem. Bank blames Zelle, Zelle blames bank. Got my bank account locked wiped out for trying to make a Zelle payment (they deleted my online bank account for security reasons).
I have my Bank of America credit card linked to Paypal.
From past bad experience with Paypal, I did not have my bank account linked.
On my last statement BoA started treating money sent from Paypal to a person as a cash advance.
BoA charged $10 and interest.
I called and got a one-time fee removal, so lesson learned.
explanation : https://www.nytimes.com/2020/04/24/your ... ments.html

Venmo is owned by Paypal
Yup, hence the "suck less". And unsuccessfully looking for good and better alternatives.
Lastrun wrote: Tue Jun 09, 2020 6:53 pm
JonnyB wrote: Tue Jun 09, 2020 2:35 pm If you type in an incorrect email address or phone number, there is no mechanism for getting your money back. It's as if you dropped off an envelop of cash at someone's house, but later found out it was the wrong house. You cannot compel them to give you your cash back.
There is truth to this and also some overstatement. I use Zelle to send money to people I know— housekeeper, family. I would not use it otherwise. Also, they way mine works on Ally and BofA, I put people in the system and then they are available from a drop down list thereafter on the online banking site. So the risk stated above is only on the first transaction. So I do a test send of $5.00 on the first send. Thereafter, I just look for the name in the drop down list.

I get more and more concerned everyday with sending physical checks with my name, address, bank, routing number, account number, and signature..... Who thinks this is safe anymore?
I really dislike the risk that a typo of an email address or phone number winds up being such a big liability. And that "test send" is exactly the behavior that got me flagged as suspicious and wiped out my online bank account! Total SNAFU!
3feetpete wrote: Tue Jun 09, 2020 5:06 pm I've used it a couple of times to send money to a couple of relatives. Worked well although the daily limit was low. For one person the daily amount was 1500. For the other $500. No explanation why.
It's probably based on their credit or criminal record. Did Zelle or the relative reveal this sensitive information?

Seriously, one might be a default, and one of the customers requested or set a higher limit. Also, it may be bank dependent. Another things they're probably doing is restricting newer accounts to slow down fraud.

Oh, and another problem with Zelle is VOIP phones, which are associated with fraud, so some banks ban it. I got meaningless errors for months before finally figuring this out.
Lastrun
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Re: Zelle for money transfer

Post by Lastrun »

inbox788 wrote: Tue Jun 09, 2020 7:41 pm And that "test send" is exactly the behavior that got me flagged as suspicious and wiped out my online bank account! Total SNAFU!
Could expand on the second part, how does a test send wipe out your entire bank account?
GT99
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Re: Zelle for money transfer

Post by GT99 »

UpperNwGuy wrote: Tue Jun 09, 2020 2:15 pm
anon_investor wrote: Tue Jun 09, 2020 1:51 pm I have used it on occation from Ally Bank app and website to send money to relatives. Never any issues. I use Venmo or Paypal more with friends, more people seem to have it.
How do Zelle, Venmo, and PayPal differ from one another? I've had PayPal for 15 years, but have no experience with the other two.
Venmo has a social component that is completely nonsensical to me. When you login you see all payments made by your connections if they haven't been marked private. When you get paid with Venmo and Paypal, you have the extra step of having to withdraw the money to your bank account. Zelle is direct to your bank account.

Otherwise, they all work. I've used all 3 for hundreds of transactions and never had an issue with any of them. Zelle within my bank app is the cleanest interface and is almost always the quickest transfer, so it is what I would generally choose. You need to be careful with who you send the payment to with all of them, just like you have to be careful who you give cash to. I don't find that to be much of a negative. If you're not positive you've got it right, don't send it.
remomnyc
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Re: Zelle for money transfer

Post by remomnyc »

I have all three and I prefer Zelle because it is directly linked to my bank account, so transfers are nearly instantaneous. With Paypal and Venmo, I need to transfer to and from my bank. Zelle also confirms with me before I send money to someone new for the first time. I have Zelle set up for my Citi, Chase, and Bank of America accounts, using different emails or a cell number. I use Paypal and Venmo when the other party does not have Zelle.
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Cam894
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Re: Zelle for money transfer

Post by Cam894 »

tc101 wrote: Tue Jun 09, 2020 1:18 pm Have you used Zelle an do you like it?

Can you set it up to use on a browser on a desktop computer, or do you have to use an app on a phone?

Is there any way to link it to a Vanguard, Fidelity or Schwab account?
Zelle is the banking industry's answer to cashapp and venmo. As far as I know brokerages don't use it.

I suggest using a test amount of $1 before sending a large payment. It is irrecoverable.
johnny
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Re: Zelle for money transfer

Post by johnny »

BW1985 wrote: Tue Jun 09, 2020 7:33 pm There are horror stories out there. Personally I don't use it for any significant amount of money.
I use it to send money to my kids. Except when the dollar value exceeds daily restrictions .. then I use PayPal. Go figure. Zelle is faster though.
inbox788
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Re: Zelle for money transfer

Post by inbox788 »

Lastrun wrote: Tue Jun 09, 2020 8:17 pm
inbox788 wrote: Tue Jun 09, 2020 7:41 pm And that "test send" is exactly the behavior that got me flagged as suspicious and wiped out my online bank account! Total SNAFU!
Could expand on the second part, how does a test send wipe out your entire bank account?
Good question! That's what I'd like to know!

Like the other fellow, I was afraid of entering the wrong phone number, so I did a small test amount that went thru. Great, I though, so I moved on to sending the actual amount. That's when the trouble started. It seems that's exactly what crooks like to do. Make a small test transaction to verify that the account is active. Seems the bank instituted a "swim test" to separates the customers from the witches. Someone or some system decided to not only lock out my account, but deactivate or delete it. Calls to the usual tech support went thru the motions of resetting passwords, but the user account was not accessible, so they wanted me to recreate a whole new online account. Besides having 4 or 5 accounts, it just didn't work, and having to escalate several levels before someone figured out or had the authority to restore the account. This too more than a few phone calls and chats. No fun!
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beyou
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Re: Zelle for money transfer

Post by beyou »

inbox788 wrote: Tue Jun 09, 2020 9:42 pm
Lastrun wrote: Tue Jun 09, 2020 8:17 pm
inbox788 wrote: Tue Jun 09, 2020 7:41 pm And that "test send" is exactly the behavior that got me flagged as suspicious and wiped out my online bank account! Total SNAFU!
Could expand on the second part, how does a test send wipe out your entire bank account?
Good question! That's what I'd like to know!

Like the other fellow, I was afraid of entering the wrong phone number, so I did a small test amount that went thru. Great, I though, so I moved on to sending the actual amount. That's when the trouble started. It seems that's exactly what crooks like to do. Make a small test transaction to verify that the account is active. Seems the bank instituted a "swim test" to separates the customers from the witches. Someone or some system decided to not only lock out my account, but deactivate or delete it. Calls to the usual tech support went thru the motions of resetting passwords, but the user account was not accessible, so they wanted me to recreate a whole new online account. Besides having 4 or 5 accounts, it just didn't work, and having to escalate several levels before someone figured out or had the authority to restore the account. This too more than a few phone calls and chats. No fun!
Which bank ?

We use Citi and TD bank with Zelle, and always use a small transaction to test with no accts locked. This seems a problem with your bank, not Zelle itself.

Note I had a minor annoyance with Venmo instead.
Did a small transaction with my cash sweep at a broker, which worked then next transaction Venmo rejected the acct. Funny that Venmo support could only say, try again later, if that does not work, assume it’s locked forever. It didn’t work 2nd or 3rd time, weeks later it did. So support was wrong.
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Cubicle
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Joined: Sun Sep 22, 2019 1:43 am

Re: Zelle for money transfer

Post by Cubicle »

Each bank implements Zelle differently. I-95 runs through many states, some states charge tolls, some have good service centers, some keep their roads in terrible shape. Each bank flavor-izes Zelle differently.

I have used Zelle between TD Bank, Bank of America, & Capital One.

BofA has the best implementation (I just hate their website). Highest limits, "contact list".

Capital One has the worst (but I like their old website (I hate (& don't use) their new website)). Lowest limit, no "contact list".

I like Zelle because it's a product of the big banks. While there is no fraud/accident protection, it's not a third party service. Almost instantly, it's in the destination bank account. No additional transfers, no waiting period, no social component.
"Oh look another bajillion point declin-Ooooh!!! A coupon for pizza!!!!" <--- This is what everyone's IPS should be. ✓✓✓
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