It has never been easier to send and transfer money directly from our mobile devices. Apps like Zelle and Venmo have revolutionized the way consumers move money.
How much money can I send?
There is a lot of confusion regarding the amounts you can send with Zelle. The is the update rates and limit on the Zelle App.
You can make 10 transfers totaling less than $2,500 every 24 hours;
30 transfers totaling less than $20,000 every month;
For small business owners, these limits are $25,000 every 24 hours with a maximum of 10 transfers;
$100,000 each month with a maximum of 30 transfers.
If your bank doesn’t offer Zelle, the limit to send money is $ 500 per week. If your bank offers Zelle, you can transfer larger amounts. We recommend that you contact your financial institution to find out the sending limits. Now, when it comes to receiving funds through Zelle, there are no limitations of any kind.
Here are some of the top banks that offer Zelle and the daily and weekly limits that allow users to transfer using the service.
| Daily Limit | Monthly Limit | |
| Ally Bank | $5,000 | $ 10,000 |
| Bank of America | $ 2,500 | $ 20,000 |
| Chase Personal Checking | $ 2,000 | $ 16,000 |
| Chase Business Checking or Chase Private Client | $ 5,000 | $ 40,000 |
| Citibank Account, Basic Account and Access Account | $ 2,000 | $ 10,000 |
| Citibank Citi Priority, Citigold, and Citi Private Bank | $ 5,000 | $ 15,000 |
| Citizens Bank | $ 1,000 | $ 5,000 |
| PNC Bank | $ 1,000 | $ 5,000 |
| U.S. Bank | $ 2,500 | $ 10,000 |
| USAA | $ 1,000 | $ 10,000 |
| Wells Fargo | $ 2,500 | $ 20,000 |
Unlike other P2P transfer services, Zelle does not charge a fee for transfers made on its platform. Venmo and Cashapp charge fees if users send money with a credit card and want to immediately fund their bank account. These fees can range from 1.5% to 3% and can make transferring large amounts costly.
Transfers between bank accounts, in US dollars, and within the United States are only supported. It is also necessary to have a debit card backed by Visa or Mastercard. While Zelle only accepts transfers from bank accounts within the USA, Zelle is also extremely popular in Venezuela. It is common to see signs that say “I accept Zelle” in shops in the different cities of the Caribbean country.
Zelle is a mobile payment application that allows money transfers between peers (P2P), simplifying the payment process and facilitating the movement of money without having to handle cash or visit the bank.
Zelle was developed by a grouping of the 30 largest banks in the United States and has a separate application that users can download to their smartphone and that is available for both Android and iOS. The service is also integrated into the mobile banking applications of the main participating banks. Consequently, consumers who already have their bank’s mobile app can start using Zelle right away.
Zelle is similar to the Venmo payment app. Both Venmo and Zelle allow you to send money instantly but there are some key differences between the two services: money sent through Venmo can be transferred instantly with Venmo’s “instant transfer” feature, but Venmo charges a 1% fee of the transfer amount if you choose that route. Money sent through Zelle is transferred to your bank account automatically, free of charge.
What types of transfers does Zelle support?
Transfers between bank accounts, in US dollars, and within the United States are only supported. It is also necessary to have a debit card backed by Visa or Mastercard. While Zelle only accepts transfers from bank accounts within the USA, Zelle is also extremely popular in Venezuela. It is common to see signs that say “I accept Zelle” in shops in different cities of the Caribbean country.
The popularity of Zelle in Venezuela is due to the fact that many use their own accounts or those of family members in the United States to be able to protect their money since for years the local currency, the BolÃvar, has been constantly devalued, generating unprecedented inflation.
How do I send money through Zelle?
Zelle is available as a standalone P2P application that works much like Venmo. But unlike this one, to send money with Zelle, you and the recipient must be members of one of the partner banks of this application.
You can download the standalone Zelle app from the Apple Store or get it from Google Play, depending on the type of device.
In addition, Zelle is also integrated into your bank’s application, where you can transfer money in four easy steps:
Set up your account. To do this, log into your current bank’s online system and register your email address or phone number to establish a connection with your bank account.
Submit the payment. Choose the recipient, the amount you are going to transfer, and the account where the funds will come from. Check that the information is correct and then make the payment.
Zelle notifies the recipient. The recipient receives an email or text message with instructions on how to receive the transfer. If the recipient is not registered with Zelle, they will be prompted to create an account.
Zelle deposits the money. The transfer is deposited into the recipient’s bank account, usually within minutes.
You can also request money from friends or family, just like with Venmo.
