Zelle is a peer-to-peer money transfer app that allows users to move funds from one bank account to another. It is a mobile payment application that allows peer-to-peer (P2P) money transfers, simplifying the process of paying for things and making it easier to move money without handling cash or visiting the bank. Zelle is owned by Early Warning Services, a financial technology (fintech) owned by seven major banks: Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo. Zelle is available in the mobile banking apps of more than 2,100 financial institutions.
Some key features of Zelle include:
- Direct bank-to-bank transfers: Zelle enables money to be sent directly from bank account to bank account instead of holding funds in a third-party account.
- Fast transfers: With Zelle, funds can be transferred within minutes.
- Availability: Zelle is available in the mobile banking apps of more than 2,100 financial institutions.
Zelle is a great way to send money to friends and family, even if they bank somewhere different than you do. It is a payment service similar to PayPal, Venmo, and Cash App.
