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Using Zelle in place of ACH...Game Changer

Contributor

Re: Using Zelle in place of ACH...Game Changer

Hi Jeffgator sorry for the delay I just saw this.   You can only have your email set up to one banking institutions account.  I setup my zelle account while logged into NFCU with my email snipper@xxx.  If I send money to my chase account the zelle account I created with chase is snipper1@xxx and so on.  I nicknamed all the accounts so its easy to make transfers.  I hope that helps.

Rebuild Begin - Fico 8 Scores
November 2016 tu 610 ef 588 ex 601
June 2018 tu 734 eq 735 ex 727
174,500 total revolving
Message 21 of 44
Frequent Contributor

Re: Using Zelle in place of ACH...Game Changer

What if it has Zelle, but says zelle is unavailable?

 

my Navy account has it, but it says it's unavailable ?

Message 22 of 44
Established Contributor

Re: Using Zelle in place of ACH...Game Changer


 wrote:

 One possible caveat would be if you're used to taking advantage of incoming ACH transfers 'counting' as direct deposits to avoid a monthly fee... that most likely won't work if you use Zelle. 


That answers that, I'm looking for a way to avoid fees by using Direct Deposit. "other than with an employer" I've read articles about his method, but haven't seen anyway to actualy achieve it.

 

Also, needing several seperate email for each account is too much of a hassle. IMO

BoA has been hounding me to use it, but I feel she's just no for me.

 

Message 23 of 44
Contributor

Re: Using Zelle in place of ACH...Game Changer

Perhaps you have to update your NFCU app?

Rebuild Begin - Fico 8 Scores
November 2016 tu 610 ef 588 ex 601
June 2018 tu 734 eq 735 ex 727
174,500 total revolving
Message 24 of 44
Frequent Contributor

Re: Using Zelle in place of ACH...Game Changer

Turns out it says unavailable until the checking was funded.

 

However, then I did a trial and it took 4 days to go through.

 

Both banks were set up with Zelle.

 

Disappointing, as the regular bank transfer actually posted a day sooner.

Message 25 of 44
Moderator

Re: Using Zelle in place of ACH...Game Changer


@Bees18 wrote:

Turns out it says unavailable until the checking was funded.

 

However, then I did a trial and it took 4 days to go through.

 

Both banks were set up with Zelle.

 

Disappointing, as the regular bank transfer actually posted a day sooner.


Four days is a long time for Zelle... so far all of my transfers have been instant except for one, and the exception took maybe 15 minutes for the funds to be available (although the transfer showed up immediately, so I'm thinking it was just a glitch).

 

The only time I've had the bank app notify me that it would take that long was when it was a larger-size transfer to a person I had never transferred to before, and that's set at the bank's discretion.  Rather than deal with the delay I lowered the amount to $400 and it said it would be instant (and it was). 

 

When Zelle first launched to get a feel for things I transferred $1 to a family member I expected to be doing transfers with (it was instant), then he transferred it right back to me (also instant).  That created "history" for both of us, and the app also keeps a record of your past transfers so that future transfers to that person are quicker (their name/info will be in the send menu to choose from for future transfers). 

 

Also, make sure you're not using the Zelle app, but are using the functionality from within your own bank's mobile app.  If you use the Zelle app the delay is normal.

Message 26 of 44
Contributor

Re: Using Zelle in place of ACH...Game Changer

We have Zelle transactions in two way manner between citi, chase and BofA. They are always instant except if it is flagged as suspicious, e.g. The first transaction, which needs manual review and u have to call to expedite it.

It's perfect. I just hope banks stop being greedy and stop pushing their n-th payment platform. E.g. Citi actively hides the zelle feature on their mobile app and can only send money from citi via their desktop website. They have some ##### app of their own with 2 star rating Which'll never become mainstream yet they keep showing it in their mobile app. But zelle works well in the banks that support it without greed. E. G. BofA and chase mobile apps.




Next App in: June 2019
Message 27 of 44
Established Member

Re: Using Zelle in place of ACH...Game Changer

This is going to make transfers sooo much easier! No more hitting up several banks to switch money around!!!!
11/14/2018






Message 28 of 44
Frequent Contributor

Re: Using Zelle in place of ACH...Game Changer

This is not at all as easy as people here are saying it is. I tried to use this for a bill to a person the last two months and it resulted in physical drives to the bank because 

zelle would not do its job.

 

You can not just transfer money to someone. It has a limit the first few transactions on how much. And then once you hit that amount and how many times the person has to be transferred to before they are no longer a new recipient is not even clear. At first we were told the amount we could send was $250. Then after that the amount could be up to $2500. Wrong. Had to make a trip to the bank to then physically deposit rent. Then we were told the next time it would work. Wrong. Now then limit was $500. Then the next day it would gen up to $2500. Wrong. Still $500 after making several transfers to the same person.

 

Do not count on this as a way to pay something important with a due date like rent, a huge pain in the ass.

Message 29 of 44
Moderator

Re: Using Zelle in place of ACH...Game Changer


@Bees18 wrote:

This is not at all as easy as people here are saying it is.


The ease of using Zelle depends a lot on your bank and your relationship with them - they are the ones who set the limits.

 

I agree that for large payments it's not ideal, but it's also not meant to be a replacement for billpay (although in some cases it might be suitable for that).  For something like rent I would personally continue to use billpay.

Message 30 of 44