Anyone used Zelle?

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arsenalfan
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Anyone used Zelle?

Post by arsenalfan » Thu Oct 12, 2017 6:59 pm

Was wondering if anyone has successfully used Zelle, the P2P cash transfer app sponsored by Chase/BoA/other big banks?
In collecting rents, my BoA small biz account has been terrible and renters cannot ACH push funds to me, even if they have BoA accounts. And then there are weird limits.
Was hoping Zelle would solve all this - but haven't seen much discussion of its use. Thanks!

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Sandtrap
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Re: Anyone used Zelle?

Post by Sandtrap » Thu Oct 12, 2017 7:04 pm

You mention "rental income" so I'll input in that context:

I have a commercial account. Each renter has an assigned account that corresponds to their address. The bank does not charge me for the accounts and there's no limit. A tenant can use their cell phone to make a payment to their bank account or stop by any branch and give their address to make a payment. The statements for each account, rental address, help me keep track of what's what.
AFAIK Zelle has a limit to transaction amount and so forth at Chaise. I think it was $2,000.
I did have a tenant use Zelle and Chase for a security deposit and lst mo. but that was only once. I'd rather have the setup I have now because I have multiple tenants and buildings. If you only have a few then perhaps the Zelle at Chase may work out fine.
Last edited by Sandtrap on Thu Oct 12, 2017 8:54 pm, edited 1 time in total.

SpaceCowboy
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Re: Anyone used Zelle?

Post by SpaceCowboy » Thu Oct 12, 2017 7:05 pm

I've used it with Cap One 360
Venmo seems to be the preferred method for the younger generation to pay rent, especially as a group.

N10sive
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Re: Anyone used Zelle?

Post by N10sive » Thu Oct 12, 2017 7:10 pm

I just started using zelle to transfer between my bank accounts and my sisters.

Honestly it is fine for doing this however one annoyance is unlike paypal, each bank account/company is assigned a email/phone number.

For example if I use chase I have to have one email assigned to this. If someone pays me at this email it goes to my chase checking account or savings. etc. Meaning for multiple bank accounts youll need multiple email aliases. Same if you were to use a phone number.

Unless there is a way around this. I find this the biggest flaw. Where as paypal you get the money and can deposit it into any checking account you want. It may have a delay but if your not in a rush to receive the money this works great. I haven't used venmo so I cant comment on that, but is is owned by paypal which confuses me why they don't merge it.

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yukonjack
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Re: Anyone used Zelle?

Post by yukonjack » Thu Oct 12, 2017 7:12 pm

I’ve used it to send money to my kids. It has worked well. It’s very simple and quick.

furwut
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Re: Anyone used Zelle?

Post by furwut » Thu Oct 12, 2017 7:45 pm

Zelle is pretty new having only rolled out this Summer. It may be that the banks are doing a soft start before heavily advertising it.

I’m using it for small personal payments from my Capital One 360 account. Capital One has the Zelle Service baked into their P2P payment interface.

The issue with asking for payment thru any payment channel is does the payor’s bank and/or technology choices support it? With Zelle, even if their bank does not, one can download the Zelle standalone app, associate a debit card and still send and receive payments.

boglerdude
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Re: Anyone used Zelle?

Post by boglerdude » Thu Oct 12, 2017 7:55 pm

If you want to move the email or phone# you use with Zelle to a different bank, you first close your Zelle account at the original bank.

another option fyi
https://cozy.co/for-landlords/collect-rent-online/

Isabelle77
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Re: Anyone used Zelle?

Post by Isabelle77 » Thu Oct 12, 2017 8:34 pm

I've used it with USAA, just on a small level between my siblings. Works great.

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whodidntante
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Re: Anyone used Zelle?

Post by whodidntante » Thu Oct 12, 2017 9:00 pm

I'm happy to see some progress in the area of electronic payments even though it is far from perfect. Taking a picture of a check someone mailed you three days ago was always a silly stop gap

3dream3
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Re: Anyone used Zelle?

Post by 3dream3 » Thu Oct 12, 2017 9:50 pm

I have used it with Chase just to send/receive money from family, friends and even colleagues. It is quick and convenient and have not experienced any issues at all.

arsenalfan
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Re: Anyone used Zelle?

Post by arsenalfan » Thu Oct 12, 2017 10:47 pm

Thanks all. Good to hear that zelle is starting to be used and seems efficient and safe. I'll give it a go - one renter has a kind of small bank in the midwest, I was surprised that it is on the Zelle network.

Thanks also for the cozy rent website. I guess they get their money because enough people sign up for the background check/other services they offer for a fee.

Momus
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Re: Anyone used Zelle?

Post by Momus » Fri Oct 13, 2017 12:44 am

Just waiting until ally starts rolling out Zelle... I always like online pay like PayPal, venmo, FB messanger, and pop money. I use them all.

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aj76er
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Re: Anyone used Zelle?

Post by aj76er » Fri Oct 13, 2017 1:49 am

For collecting rents, check out cozy.co
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soccerrules
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Re: Anyone used Zelle?

Post by soccerrules » Fri Oct 13, 2017 8:31 am

I have used Zelle to transfer money into my kids debit accounts. Zelle is fairly new with Chase. Their previous Chase "version" was not as good and it would take at least 1-2 day delay at times for the funds to hit the desired account. With Chase Zelle, it is instantaneous, now with other Chase Accounts. I am not sure about sending to another bank.

I use it for a recurring weekly amounts and then whenever I need to send/reimburse them money. Kids don't use cash really once they hit mid-teens.

I also use Venmo to send money/request money from various people. Again easy. I believe with Venmo you have to click a few buttons to have the money sent to your attached banking account. Not really a hassle, just different.

Once you have the app on your phone, it is easy and fast.
Don't let your outflow exceed your income or your upkeep will be your downfall.

Mr.Wu
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Re: Anyone used Zelle?

Post by Mr.Wu » Fri Oct 13, 2017 8:36 am

Not sure where the doubts came from, this is fairly old/mature technology. A while ago I used chase quikpay to pay rent to the landlord living overseas. I set up monthly auto recurring payment and just make sure the checking balance is not too low. The only nuisance was the daily transferal limit of 2k.

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Bradley37
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Re: Anyone used Zelle?

Post by Bradley37 » Fri Oct 13, 2017 8:43 am

I've been using Zelle thru my Chase checking account sending and receiving money from family and friends. So far, its good.

Small Law Survivor
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Re: Anyone used Zelle?

Post by Small Law Survivor » Fri Oct 13, 2017 8:44 am

soccerrules wrote:
Fri Oct 13, 2017 8:31 am
I also use Venmo to send money/request money from various people. Again easy. I believe with Venmo you have to click a few buttons to have the money sent to your attached banking account. Not really a hassle, just different.

Once you have the app on your phone, it is easy and fast.
I haven't used any of these phone apps - Zelle, Venmo ... I'd never heard of Zelle until now, and I only know about Venmo because a couple of people have mentioned it to me in passing over the last year or so.

I'd like to start using one of these, assuming it is secure. Is it?

Which one is best, and it least platform/bank independent?

soccerrules
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Re: Anyone used Zelle?

Post by soccerrules » Fri Oct 13, 2017 9:06 am

Small Law Survivor wrote:
Fri Oct 13, 2017 8:44 am
soccerrules wrote:
Fri Oct 13, 2017 8:31 am
I also use Venmo to send money/request money from various people. Again easy. I believe with Venmo you have to click a few buttons to have the money sent to your attached banking account. Not really a hassle, just different.

Once you have the app on your phone, it is easy and fast.
I haven't used any of these phone apps - Zelle, Venmo ... I'd never heard of Zelle until now, and I only know about Venmo because a couple of people have mentioned it to me in passing over the last year or so.

I'd like to start using one of these, assuming it is secure. Is it?

Which one is best, and it least platform/bank independent?
Zelle is embedded within the Chase app. You enter the individuals email address and send the money. They will receive an email that walks them through how to link to their account.
Venmo -- you and the sender/recipient will need to have a profile and user name (like twitter). You find the user name of the person you are sending/requesting money to/from and it's simple. There is a big button that says Send or Request money.

I have had no issues with either technology. I am not sure how I would feel if I was doing large amounts of money, but most of what i sent is less than $100 at a time.
Don't let your outflow exceed your income or your upkeep will be your downfall.

camich27
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Re: Anyone used Zelle?

Post by camich27 » Fri Oct 13, 2017 5:48 pm

I have used Zelle regularly to pay my babysitter through the Wells Fargo banking website. Works fine.

Tamales
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Re: Anyone used Zelle?

Post by Tamales » Sat Nov 11, 2017 12:11 am

Is Zelle limited to transactions initiated from an app downloaded to a smartphone, or can you do it from a desktop PC?

Seems like a silly limitation, but it does seem to be one of its limitations.

spammagnet
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Re: Anyone used Zelle?

Post by spammagnet » Sat Nov 11, 2017 1:04 am

Zelle works only if both people involved have accounts at participating banks. There is no provision for setting up an ACH transfer to a non-participating bank, as there is with (e.g.) Venmo, if one of them does not. Venmo is agnostic.

I just tried to transfer some money from my Dad's checking account as reimbursement for something I bought on his behalf. His bank charges $3 per transaction for sending money to an individual. Your tenants might object if that's true for them.
Last edited by spammagnet on Sat Nov 11, 2017 1:00 pm, edited 1 time in total.

Goal33
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Re: Anyone used Zelle?

Post by Goal33 » Sat Nov 11, 2017 1:21 am

Ally seamlessly migrated all my automated transactions using PopMoney to Zelle last week. It was the same.
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mervinj7
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Re: Anyone used Zelle?

Post by mervinj7 » Sat Nov 11, 2017 4:29 am

I use it every month to send the monthly home daycare bill and to receive rent from my tenant. No issues except for the transaction limit that some banks have.

Nyc10036
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Re: Anyone used Zelle?

Post by Nyc10036 » Sat Nov 11, 2017 7:39 am

Tamales wrote:
Sat Nov 11, 2017 12:11 am
Is Zelle limited to transactions initiated from an app downloaded to a smartphone, or can you do it from a desktop PC?

Seems like a silly limitation, but it does seem to be one of its limitations.
I have it set up with TD Bank.
I log in on my desktop PC.
I would hate having to do things on my 4.5" smartphone screen.

As I understand it, the smartphone app is for when the other person's bank does not have Zelle.

Just remember with Venmo like with Paypal, if you don't transfer the money you receive to a bank account, your money is sitting in a non-bank account. With Zelle, the money is transfered bank to bank.

Cash
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Re: Anyone used Zelle?

Post by Cash » Sat Nov 11, 2017 7:56 am

Nyc10036 wrote:
Sat Nov 11, 2017 7:39 am
As I understand it, the smartphone app is for when the other person's bank does not have Zelle.
That's incorrect. I sent money using my TD Bank app to a friend who uses USAA, another Zelle bank. My phone can just access my contacts and send the money using the phone number I have stored. I would imagine that's easier than logging in through the desktop.

Tamales
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Re: Anyone used Zelle?

Post by Tamales » Sat Nov 11, 2017 10:39 am

I found the answer to (one of) my question(s) on whether you have to use a smartphone (I found it via their cumbersome multi-layer FAQ):

Can I access Zelle® to send or receive money without a smartphone?

If your bank or credit union offers Zelle, you may use their online banking site to send and receive money without a mobile device. If your bank or credit union does not offer Zelle, then you must have a smartphone in order to access our Zelle app to send and receive money.


Note they use "mobile device" and "smartphone" without clarifying if they are making a distinction. Not all mobile devices are smartphones.

But there are these requirements:

How do I get started?
If your bank or credit union offers Zelle, it’s already available in your mobile banking app or online banking! Check your mobile banking app or sign-in to your online banking site and follow a few simple steps to enroll your Zelle profile.

To enroll with the Zelle app, enter:
your basic contact information,
an email address and U.S. mobile number,
and a Visa® or MasterCard® debit card with a U.S. based account.
We do not accept debit cards associated with international deposit accounts or any credit cards.
(emphasis added)

Why email address AND mobile number if you're not going to use it via mobile device or smartphone?

Note they say "mobile number" not "smartphone number" but it's unclear what function or purpose the mobile phone serves if it's not a smartphone.

But here's the kicker, which they bury in their FAQ: you have to have a debit card. If you don't have or want a debit card, apparently you can't use Zelle since you can't register without it.

Also, apparently, this debit card is indirectly the bank account association for your account? Let's say you do have a debit card, but you don't want the account associated with that debit card to be the account you use for Zelle transactions?

hicabob
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Re: Anyone used Zelle?

Post by hicabob » Sat Nov 11, 2017 10:57 am

I've used it a couple of times. It takes 3 days (ally to capone) and has a $2500 daily limit to a specific person. Other than that it seems ok.

Cash
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Re: Anyone used Zelle?

Post by Cash » Sat Nov 11, 2017 11:13 am

Tamales wrote:
Sat Nov 11, 2017 10:39 am
Why email address AND mobile number if you're not going to use it via mobile device or smartphone?
So that people with mobile devices can send you money. Your friend can use his/her app to send money to your telephone number or e-mail address. The money shows up in your account.

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tuningfork
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Re: Anyone used Zelle?

Post by tuningfork » Sat Nov 11, 2017 11:28 am

Haven't used Zelle yet, but it's available at US Bank on their web site when I login to my account. My girlfriend says it's available at her bank's website too. Seems like most banks have it, mobile app not required.

Nyc10036
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Re: Anyone used Zelle?

Post by Nyc10036 » Sat Nov 11, 2017 2:39 pm

Cash wrote:
Sat Nov 11, 2017 7:56 am
Nyc10036 wrote:
Sat Nov 11, 2017 7:39 am
As I understand it, the smartphone app is for when the other person's bank does not have Zelle.
That's incorrect. I sent money using my TD Bank app to a friend who uses USAA, another Zelle bank. My phone can just access my contacts and send the money using the phone number I have stored. I would imagine that's easier than logging in through the desktop.
I am talking about the Zelle app.

I haven't downloaded so I cannot say, but their website seems to imply that it is to be used by people's whose banks don't belong to Zelle yet.

spammagnet
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Re: Anyone used Zelle?

Post by spammagnet » Sat Nov 11, 2017 2:41 pm

Nyc10036 wrote:
Sat Nov 11, 2017 2:39 pm
I am talking about the Zelle app.

I haven't downloaded so I cannot say, but their website seems to imply that it is to be used by people's whose banks don't belong to Zelle yet.
I just tried. It won't work with my Fidelity debit card.

reddest
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Re: Anyone used Zelle?

Post by reddest » Sat Nov 11, 2017 4:36 pm

I just used it to pay a $2,500 payment Chase to BoA. The fraud department called me like three times to confirm, but it worked.

Cash
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Re: Anyone used Zelle?

Post by Cash » Sat Nov 11, 2017 5:56 pm

spammagnet wrote:
Sat Nov 11, 2017 2:41 pm
Nyc10036 wrote:
Sat Nov 11, 2017 2:39 pm
I am talking about the Zelle app.

I haven't downloaded so I cannot say, but their website seems to imply that it is to be used by people's whose banks don't belong to Zelle yet.
I just tried. It won't work with my Fidelity debit card.
Yeah I could be mistaken, but I think your bank has to be a Zelle participant.

Nyc10036
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Re: Anyone used Zelle?

Post by Nyc10036 » Sat Nov 11, 2017 9:30 pm

Cash wrote:
Sat Nov 11, 2017 5:56 pm
spammagnet wrote:
Sat Nov 11, 2017 2:41 pm
Nyc10036 wrote:
Sat Nov 11, 2017 2:39 pm
I am talking about the Zelle app.

I haven't downloaded so I cannot say, but their website seems to imply that it is to be used by people's whose banks don't belong to Zelle yet.
I just tried. It won't work with my Fidelity debit card.
Yeah I could be mistaken, but I think your bank has to be a Zelle participant.
https://pasteboard.co/GTeNe8p.png

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Silly Wabbit
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Re: Anyone used Zelle?

Post by Silly Wabbit » Sat Nov 11, 2017 9:39 pm

Sandtrap wrote:
Thu Oct 12, 2017 7:04 pm
You mention "rental income" so I'll input in that context:

I have a commercial account. Each renter has an assigned account that corresponds to their address. The bank does not charge me for the accounts and there's no limit. A tenant can use their cell phone to make a payment to their bank account or stop by any branch and give their address to make a payment. The statements for each account, rental address, help me keep track of what's what.
AFAIK Zelle has a limit to transaction amount and so forth at Chaise. I think it was $2,000.
I did have a tenant use Zelle and Chase for a security deposit and lst mo. but that was only once. I'd rather have the setup I have now because I have multiple tenants and buildings. If you only have a few then perhaps the Zelle at Chase may work out fine.
What bank do you have the multiple, tenant facing accounts with?

I've been using Zelle (via Chase) for a handful of rental properties. It works, but all transfers end up in a single account. I then transfer payments out to my property specific accounts.

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Sandtrap
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Re: Anyone used Zelle?

Post by Sandtrap » Sat Nov 11, 2017 10:18 pm

Silly Wabbit wrote:
Sat Nov 11, 2017 9:39 pm
Sandtrap wrote:
Thu Oct 12, 2017 7:04 pm
You mention "rental income" so I'll input in that context:

I have a commercial account. Each renter has an assigned account that corresponds to their address. The bank does not charge me for the accounts and there's no limit. A tenant can use their cell phone to make a payment to their bank account or stop by any branch and give their address to make a payment. The statements for each account, rental address, help me keep track of what's what.
AFAIK Zelle has a limit to transaction amount and so forth at Chaise. I think it was $2,000.
I did have a tenant use Zelle and Chase for a security deposit and lst mo. but that was only once. I'd rather have the setup I have now because I have multiple tenants and buildings. If you only have a few then perhaps the Zelle at Chase may work out fine.
What bank do you have the multiple, tenant facing accounts with?

I've been using Zelle (via Chase) for a handful of rental properties. It works, but all transfers end up in a single account. I then transfer payments out to my property specific accounts.
I had a large business account at Wells Fargo and they set it up for me. Each rental unit is assigned a "savings" account. Tenants pay rent to the address of the building and rental unit number. They can walk into any Wells Fargo or can do it online or by cell. However they want to transfer funds. I can update the names to match the unit but even if I don't it goes by the address and apartment number. I have statements for each rental unit and can also move funds around online. It has worked out well for quite a few years.
Fortuitously, it was a young engineer grad student tenant that told me many years ago that I was old fashioned (asking for a check) and needed to update my way of doing things. He gave me some examples of what was possible. I took it from there.

farnsy
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Re: Anyone used Zelle?

Post by farnsy » Sat Nov 11, 2017 10:39 pm

I hate Zelle and am angry with the stupid banks that have embraced it.

I used to be able to transfer money to other Capital One customers instantly through their website until they embraced Zelle. I was able to do one transfer (although it was not instant), then the next time I tried it asked to verify my identity via my cell phone and was unable to do it because I use Project Fi as my carrier and apparently their system can't use Project Fi--it doesn't even try to send the text; just brings up an error message whether I use the app or website. I exhausted the help sources at both Capital One and Zelle. The folks I chatted with at Zelle were particularly clueless about their own product and uninterested in finding a solution.

Anyway, bottom line, I can't transfer money any more because Capital One discontinued their in-house system in favor of Zelle. It was an idea that I'm sure sounded good to some stuffed shirts at the top but it's a big step backward in practice. Slower and more inconvenient for everyone and prone to not working at all.

spammagnet
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Re: Anyone used Zelle?

Post by spammagnet » Sat Nov 11, 2017 11:49 pm

Nyc10036 wrote:
Sat Nov 11, 2017 9:30 pm
Cash wrote:
Sat Nov 11, 2017 5:56 pm
spammagnet wrote:
Sat Nov 11, 2017 2:41 pm
I just tried. It won't work with my Fidelity debit card.
Yeah I could be mistaken, but I think your bank has to be a Zelle participant.
https://pasteboard.co/GTeNe8p.png
That requires a debit card. My Fidelity CMA debit card was not accepted.

willyg
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Re: Wells Fargo recurring transfer question - Zelle

Post by willyg » Mon Jan 01, 2018 3:03 pm

What many sites omit to say is that Zelle does NOT allow you to set up recurring automatic transfers. If you want to automatically transfer a set amount, say monthly, to another person’s bank account then Zelle cannot do this. They do not state this directly in online Zelle related info. If you do want to make a routine transfer you must go into your account every time and make the transfer manually. Search for "automatic" or "recur" on Zelle related sites and it will generally not be there.

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Re: Anyone used Zelle?

Post by LadyGeek » Mon Jan 01, 2018 4:00 pm

willyg, Welcome! I moved your post into an on-going discussion. (Previously posted in a 7+ year-old thread.)
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clutchied
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Re: Anyone used Zelle?

Post by clutchied » Tue Jan 02, 2018 2:05 pm

A couple of my tenants use it. We'll see how it goes.

It appears to work just fine.

soccerrules
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Re: Wells Fargo recurring transfer question - Zelle

Post by soccerrules » Tue Jan 02, 2018 2:29 pm

willyg wrote:
Mon Jan 01, 2018 3:03 pm
What many sites omit to say is that Zelle does NOT allow you to set up recurring automatic transfers. If you want to automatically transfer a set amount, say monthly, to another person’s bank account then Zelle cannot do this. They do not state this directly in online Zelle related info. If you do want to make a routine transfer you must go into your account every time and make the transfer manually. Search for "automatic" or "recur" on Zelle related sites and it will generally not be there.
willy - I have Zelle with Chase Online and I am able to set-up reoccurring payments online. I could not figure out how to set them up through they Chase mobile app, but can online. You can set it up weekly/monthly etc and then set for X number of payments, pick an end date or leave indefinite. I use it to send money weekly to my college young adult.
Don't let your outflow exceed your income or your upkeep will be your downfall.

arsenalfan
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Re: Anyone used Zelle?

Post by arsenalfan » Tue Jan 02, 2018 2:50 pm

Update: zelle works fine.

But it can only link one mobile phone with one bank account.

I have multiple checking accounts, one for each rental property, so it won’t work for my needs.
Last edited by arsenalfan on Tue Jan 02, 2018 3:23 pm, edited 1 time in total.

mchop
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Re: Anyone used Zelle?

Post by mchop » Tue Jan 02, 2018 3:05 pm

I love this site...my new tenant just texted me that she had paid using Zelle (I had never heard of it). Signed up to receive the cash.

Open up Bogleheads and this post was third from the top!

Cheers!

blevine
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Re: Anyone used Zelle?

Post by blevine » Wed Jan 03, 2018 2:15 pm

Allstate owed me $ on an auto claim. Had option of snail mail check or electronic.
Electronic turned out to be zelle, and my deposit was received quickly.
I happened to use a bank on the Zelle list of participating banks, not sure if this would have been a good option if I used a different bank.

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munemaker
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Re: Anyone used Zelle?

Post by munemaker » Wed Mar 21, 2018 6:04 pm

I am glad to hear some positive reviews of Zelle.

I should have trusted my instincts when they presented very little detail on how Zelle actually works. I tried to send my son $1,000 from my Capital One 360 account. First problem was Zelle wants to send a validation code to my cell phone, but it would not recognize my Project Fi phone number (as happened to someone else above). It would work with my wife's Verizon phone.

OK - so get the money sent. Then my son tries to receive it. His bank account is at Fidelity and (as someone else experienced above), Zelle does not appear to work with Fidelity.

Tried to call Zelle. First of all, they make it hard to find their phone number, which is a tip off for poor customer service. When calling, I just got a menu choice that leads to useless recordings. This was after business hours, and I am hoping that a live person will answer tomorrow to help us. Otherwise, I need to figure out how to get my money back from them.

I trusted Zelle based on the credibility of Capital One 360 and the fact that they work in a regulated industry.

I wish I had not tried Zelle. It seems like a good concept, but it just did not work for us.

EDIT: I called Capital One the same evening. They were very cooperative and immediately unwound the Zelle transaction, putting the $1,000 back in my account. So it was no harm, no foul.
Last edited by munemaker on Thu Mar 22, 2018 9:34 am, edited 1 time in total.

investor997
Posts: 276
Joined: Tue Feb 07, 2017 3:23 pm

Re: Anyone used Zelle?

Post by investor997 » Wed Mar 21, 2018 7:13 pm

For reasons I won't get into, I decided to register my email address with Zelle rather than my cellphone number. I've been able to successfully use it to both send and receive money from Zelle users who were registered via phone number. If Zelle won't allow you to register a Google Voice number, try using your email address as primary Zelle contact instead. It should work.

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rosylenm
Posts: 123
Joined: Mon Aug 29, 2016 5:51 pm

Re: Anyone used Zelle?

Post by rosylenm » Tue Apr 24, 2018 10:26 am

Issues with Zelle reviewed in New York Times article—

https://mobile.nytimes.com/2018/04/22/b ... fraud.html

gpburdell
Posts: 116
Joined: Sun Jun 17, 2012 9:01 pm

Re: Anyone used Zelle?

Post by gpburdell » Tue Apr 24, 2018 12:01 pm

I use Zelle all the time to transfer money between myself and family. I do two things:

1) I have an account at Capital One specifically used for Zelle, Venmo, Paypal, etc. I don't use this account for anything else like direct deposits, billpay, etc. I only keep a couple hundred dollars in this account at any given time. If I get a big deposit, I will transfer this out to an account at another bank.

2) When I registered for Zelle, I used my email address as no one had this email before and it's unlikely to change in the future. If it does change, it's very unlikely that someone would have access to the old one. Even though I've had the same cell number for 15+ years who knows what may happen. Also, we know that numbers will be recycled so to me that risk is the greater.

gpburdell
Posts: 116
Joined: Sun Jun 17, 2012 9:01 pm

Re: Anyone used Zelle?

Post by gpburdell » Tue Apr 24, 2018 12:23 pm

munemaker wrote:
Wed Mar 21, 2018 6:04 pm
Tried to call Zelle. First of all, they make it hard to find their phone number, which is a tip off for poor customer service. When calling, I just got a menu choice that leads to useless recordings. This was after business hours, and I am hoping that a live person will answer tomorrow to help us. Otherwise, I need to figure out how to get my money back from them.

I trusted Zelle based on the credibility of Capital One 360 and the fact that they work in a regulated industry.

I wish I had not tried Zelle. It seems like a good concept, but it just did not work for us.

EDIT: I called Capital One the same evening. They were very cooperative and immediately unwound the Zelle transaction, putting the $1,000 back in my account. So it was no harm, no foul.
Well you shouldn't call Zelle anyway they wouldn't be able to help. Zelle is the platform/network that is sending the payment. Even if you got a live person, they wouldn't be able to authenticate who you are. All Zelle knows is that they got a valid request from your bank to send money. That would be like trying to call NACHA to do a stop payment on a check you wrote. Or calling Fiserv to stop an electronic bill payment. As you figured out, the correct course of action is to contact the bank as they own the customer service for any of the services they offer.

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