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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 26
Regular 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 26
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 26
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 26
Regular 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 26
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.

The Garden Club has moved to the Personal Finance board!


https://ficoforums.myfico.com/t5/Personal-Finance/Garden-Club-September-2018/td-p/5344990


 

Message 26 of 26