In case you are wondering, what is Zelle? We tell you that it is a mobile application through which users can transfer money. The transfer process is carried out between peers in order to avoid the use of cash and visits to banking entities. Reason for which, you may be interested in knowing how the App works to transfer and receive capital, either by national or international transfer.
Index( )
- How does the Zelle money transfer system work?
- Procedure to have a Zelle account and register correctly
- What guidelines must be met in order to use Zelle services?
- How can I send money to someone else using my Zelle account?
- How can I receive money in my Zelle account?
How does the Zelle money transfer system work?
The platform works through the P2P (peer to peer) network essential in the transfer of capital between different individuals. Zelle integrates with the mobile banking of various entities. This simplifies the payment process and makes it easier to move money.
The Zelle system has a limit on transfers and amounts. For example, if you own a small business, the daily maximum is $25,000 per day and $100,000 per month. For this reason, it is important to verify the total that can be moved before using the application and making transactions.
Procedure to have a Zelle account and register correctly
The process to register is very easy. Access your bank’s App from your mobile. Sign in and choose the ‘Transfer and pay’ option. Accept the Zelle transfer addendum and register your email. Finally, you must add the bank account to which you want to deposit the money.
On the other hand, if your bank does not link to the platform, you will need to download Zelle from Google Play or the App Store. Once the application is installed on your cell phone, open the App and write your phone number and the data of your Visa or Mastercard.
Next, find your mobile device contacts and select who you want to transfer the money to. You can also write their phone number or email address. Then, enter the amount you want to send from Zelle, confirm the information and review the notification of the operation you just made.
You can even add new contacts from the App. You just have to click on the ‘+’ sign and write the email address of the person you want to add to your contact list. Also, it is possible to use your phone number. Remember to write the first and last name of the recipient in order to identify him in your address book.
What guidelines must be met in order to use Zelle services?
The requirements of the company is that both parties are registered in the service. Whether in mobile banking or using the web, this requirement is paramount. Also, you must take into account the limits of sending money according to the company’s policies.
It is important to note that the service is available to those who have a bank account in the United States. The company recommends sending money only to known contacts in order to protect users . Another of Zelle’s guidelines indicates that the use of prepaid cards is not allowed in money transfers from its application.
How can I send money to someone else using my Zelle account?
There are daily maximums regarding the amount that can be sent, a measure taken with the safety of those involved in mind. In this sense, there is a limit of 24 hours and others that are presented every 30 days. The amount of money you can send depends on the origin of the account, from which you receive, your history with the entity , as well as the payment history of the recipient.
If your bank is not part of the Zelle network, you can send $500 per week with no limit on the number of transactions . On the other hand, if your bank offers the Zelle service, you can send $2,500 every 24 hours with a maximum of 10 transfers per day.
In addition, it is possible to send up to 20,000 dollars per month with a limit of up to 30 transactions. In turn, once in your account, you can deposit money in PayPal or any other similar service.
How can I receive money in my Zelle account?
When a user sends you capital, a notification will arrive , either to your email or to your mobile phone. This will depend on the medium chosen by the sender. For this reason, it is important that you register your email or phone number if you have not already done this step in Zelle. In the previous way, you will be able to receive the resources without problems.
