Using Zelle in place of ACH...Game Changer

[frugal47374]

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@UncleB wrote:

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@Bees18 wrote:

I've made several payments to the same person. And my limit still has not gone over $500. I've called and emailed multiple times and every person says after the next payment it will be raised, and after the next it is not. Done with zelle.

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That's not a Zelle issue, that's an issue with your bank.

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That true if he's using his bank's app.  If he's using the standalone app created by Zelle, it is very much a Zelle issue.  For those who aren't using their bank's app, Zelle starts with a (very poorly documented) $300 limit per week.  And, although they suggest it might increase, there is nothing in the app that will show you what your current limit is ... except finding out that you can't send what you want to. 

[UncleB]

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@frugal47374 wrote:

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@UncleB wrote:

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@Bees18 wrote:

I've made several payments to the same person. And my limit still has not gone over $500. I've called and emailed multiple times and every person says after the next payment it will be raised, and after the next it is not. Done with zelle.

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That's not a Zelle issue, that's an issue with your bank.

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That true if he's using his bank's app.  If he's using the standalone app created by Zelle, it is very much a Zelle issue.  For those who aren't using their bank's app, Zelle starts with a (very poorly documented) $300 limit per week.  And, although they suggest it might increase, there is nothing in the app that will show you what your current limit is ... except finding out that you can't send what you want to. 

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Agreed... honestly, I would never recommend for anybody to use the stand-alone Zelle app (i.e. with a non-participating bank) unless there's simply no other option for transferring money.

For that matter, I would use a paper check before I would go to the stand-alone Zelle app.

[Anonymous]

I like to use circle pay for instant transfers. You can link any number of debit cards. Unfortunely they limit you to $400/week initially but eventually they'll raise it to $3000/week after using it regularly. 

Another new one I like is Apple Pay Cash, which uses same-day ACH. You can load up to $3000/day to your balance and outbound xfers are not restricted I believe. Only negative is that you can only link 1 account to xfer out to at a time.  

[arkane]

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@iced wrote:

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@arkane wrote:

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@UncleB wrote:

Yep, Zelle works quite well, and not just for millennials... there's more than a handful of us more 'seasoned' folks around who use it as well. 

I also use the email/phone number trick to move money around; in my case, with Wells Fargo and USAA.  USAA gives me instant credit for incoming ACH transfers, but sending money to WF takes a day or two with ACH, but Zelle is instant.

Also, for those with more than two accounts at Zelle participating banks/CUs, be sure to use a different email/phone for any account after the first two.  Work email accounts or Gmail usually work OK.

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pffft no self-respecting millennial these days use anything but Venmo. When I suggested they Paypal or Zelle me their share of the restaurant tab during a group lunch, they looked at me like I was crazy. And I'm only 30!!!

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Wait...I thought Paypal owned Venmo? What makes Venmo more appealing?

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Think of Venmo as Twitter with Paypal functionality