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Zelle at multiple banks

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So I have been using Zelle for about a year now. As more of my banks became partners I would make sure I had unique email addresses and phone numbers at each partner bank so that the Zelle app wouldn't have problems sending money between my banks. 

 

Recently I kept getting a "Would you like to sign up" message in my banks apps. Which was odd because not only had i already signed up, but I have used the different banks app many times. Tonight i attempted to register with a new bank and i was getting errors and it asked me to contact Zelle customer support.

 

In speaking with the rep he told me that as of the newest update of a couple weeks ago, they are limiting the Zelle usage to one banking partner per customer. So if you have many banks that use the Zelle software, it now appears that you must choose which one you want to use for Zelle.

 

I asked him what information they use to determine that it i s you and he said that the banks share the information and run it through a verification check. 

 

This is a real bummer! 

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I appreciate your post and look forward to hearing more. 

 

I don't want to go back to doing these transfers between our own accounts by check/mobile deposit (which is still faster than traditional ACH transfers for these accounts).

 

Could you clarify what the "one bank" restriction is?

 

I still have the option to do the following transfers, which I do biweekly (and did as recently as Friday, 11/2):

 

Joint Chase checking >> joint Bank of America checking (myspousesemailaddress@geemayldotcom)

 

Individual WF checking >> joint Bank of America checking (myspousesemailaddress@geemayldotcom)

 

The options to make these transfers still exist on both "send from" accounts.

 

[fwiw, I'm using the sending banks' web sites, not their banking apps]

 

 

 

 

Edited by cv91915

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I had 3 accounts at banks that are partner banks with Zelle. Schools First CU, U.S. Bank, and USAA. All with different email addresses and phone numbers listed at the banks and in the apps.

 

What I was told was the new policy is that I will now only be allowed to use Zelle from one banking provider. So let me say that I choose Schools First. I can't send money to my account at USAA through Zelle even if I have a USAA zelle app set up with another email address or phone number. Zelle now checks who the owner of the account is through information sharing and will only allow one account on their network as of the last update. 

 

In your scenario, You have three accounts, two of which are joint. I would expect that sometime soon the system will recognize you have multiple accounts and it will kill one or both of the others. I started noticing things were changing when my other apps kept asking me to enroll, when I knew I was already enrolled at that bank and I had even sent money there multiple times.

 

Last night I switched to Google wallet (G Pay). I get the same result. But it sure was nice to send money from within my banking apps.

 

I was caught off guard with the google wallet though when it asked me to verify digits of my SSN# and Drivers license to add a bank account debit card. But I assume that was for the government regulators. 

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Thanks for the clarification.  I'll watch the behavior of Zelle on my current accounts and report any anomalies.  I appreciate you starting the thread. 

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On 11/7/2018 at 3:32 AM, cv91915 said:

 

Joint Chase checking >> joint Bank of America checking (myspousesemailaddress@geemayldotcom)

 

Individual WF checking >> joint Bank of America checking (myspousesemailaddress@geemayldotcom)

 

Both of these worked again today.  Perhaps the changes are on a slow rollout. 

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I have never used Zelle. I see it as an option on a few of my accounts, but never bothered. I have ACH transfers setup connecting my various accounts. It only seems to take 2 days most of the time. Sometimes 1 day.

 

From reading about Zelle, it appears to be sort of like a Paypal competitor to use email accounts to make transfers. But you guys are using it to make transfers to yourself at various banks with different email addresses. What is the benefit of this over ACH?

 

Looking at their website, they don't charge fees. How does this company make money? They must be getting paid somewhere. Maybe they just charge less than ACH does and that is how they are wiggling into these banks. I don't know.

 

Just curious. The ACH transfer system seems to work fine for me. But I can change if there is something better out there. How is this Zelle system better? Thanks

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57 minutes ago, RocketGoBoom said:

I have never used Zelle. I see it as an option on a few of my accounts, but never bothered. I have ACH transfers setup connecting my various accounts. It only seems to take 2 days most of the time. Sometimes 1 day.

 

From reading about Zelle, it appears to be sort of like a Paypal competitor to use email accounts to make transfers. But you guys are using it to make transfers to yourself at various banks with different email addresses. What is the benefit of this over ACH?

 

Looking at their website, they don't charge fees. How does this company make money? They must be getting paid somewhere. Maybe they just charge less than ACH does and that is how they are wiggling into these banks. I don't know.

 

Just curious. The ACH transfer system seems to work fine for me. But I can change if there is something better out there. How is this Zelle system better? Thanks

Zelle competes with other products like Square Cash and PayPal and Venmo and other instant money transfers.  It's owned and funded by a consortium of traditional banks as a defensive offering to the other instant payment services that are out there.  The others are free, so Zelle is free.  

 

Its intended purchase is to pay other people; we're just not using it as intended.

 

I have just enough direct deposited into the WF and Chase accounts to waive the monthly fees, but I don't use these accounts for much (or any in the case of Chase) actual banking, so on the day that payroll deposits post I wake up and do two Zelle transfers into our household checking account.
 
I am obsessive over tracking actions to completion, so the instant nature of the service avoids me having to drag an ACH transfer confirmation email into my pending folder and then check a day or more later to ensure that is arrives at its intended destination (I've never had an ACH not arrive, btw, but that's another matter 😛 ).

 

We have one other monthly transaction that gets paid via one of Zelle's competitors (Square Cash).  A friend manages an old, grandfathered, ridiculously inexpensive 10-line T-Mobile plan that my spouse's phone is on, and we pay our friend for our share of the mobile bill this way because it's his preference).

 

 

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Hi

 

I used to regularly deposit cash in to my son’s account.  It was free and immediately available to him. (I dislike using Western Union) Both he and I have Wells Fargo accounts.  Within the pass 10 months or so, the rules around depositing into accounts where you are not an authorized user changed. (They stated that the changes had to do with fraud prevention and anti-money laundering) Wells Fargo directed me to use Zelle which allows the same availability of funds but also allows each banking institution traceability as to who deposited what amount into what account.   Zelle is owned by the banks Bank of America, BB&T Capital One, Navy Federal Credit Union JPMorgan Chase, PNC Bank, Ally, US Bank and Wells Fargo.

 

Thanks,

 

Willjr20

Edited by willjr20
spelling error

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On 11/30/2018 at 9:37 AM, cv91915 said:

Chase ->> Bank of America

Wells Fargo ->> Bank of America

 

Worked again this morning.

And again today.

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Okay, checking in after a while. I see this has kept going and I will admit maybe it is just my setup. I can admit I could be wrong. But it just isn't working for me no matter how much I want it to.

 

I Haven't had any problems with Google Pay at all so that is what I use now. I can even leave money sitting in google pay and not transfer it out to a bank account for a while, so it is like another bank account by itself.

 

In fact someone was asking in the forums how they could have a bank account with a judgement as they were in fear of the account being attached, Google Pay may be a way for them to do that until they get their affairs in order. 

 

I still have my Zelle account with one bank so I can transact with others.

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2 hours ago, frank92555 said:

Okay, checking in after a while. I see this has kept going and I will admit maybe it is just my setup. I can admit I could be wrong. But it just isn't working for me no matter how much I want it to.

 

I Haven't had any problems with Google Pay at all so that is what I use now. I can even leave money sitting in google pay and not transfer it out to a bank account for a while, so it is like another bank account by itself.

 

In fact someone was asking in the forums how they could have a bank account with a judgement as they were in fear of the account being attached, Google Pay may be a way for them to do that until they get their affairs in order. 

 

I still have my Zelle account with one bank so I can transact with others.

I hope you aren't taking my updates as argumentative.  I rely on Zelle for convenience and would hate to see it change in the way you described.

 

It is possible that they are on a slow rollout.  I'm just posing updates with my recent experiences.

 

I appreciate the thread.

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Just ran into my first obstacle with using Zelle at multiple institutions.

 

I just tried to set up Zelle at Enneffseeyou, and I was unable to enroll my email address as a sending account on Zelle since the email address is already in use with Zelle... at Chase, according to the message.

 

Actually, I'm using the same email address with Zelle at three banks, (WF, BoA and Chase).

 

In order to get to the point where my request was rejected, I had to attempt to enroll the email address and then wait for six-digit code to arrive to confirm the email account. 

 

The confirmation emails took so long to arrive that Enneffseeyoudotcom kept logging me out, which forced me to start the process over.  Three times.  And you can't just log in and pick up where you left off... you have to restart the enrollment process every time.

 

Q101yrN.png

Edited by cv91915

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On 11/30/2018 at 7:28 AM, hegemony said:

How Zelle Is Hurting People, And Leaving Them With No Recourse

 

https://old.reddit.com/r/personalfinance/search?q=zelle&restrict_sr=on

 

:sorry:

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I see Zelle advertised at my banks, but I've been using Square Cash and TransferWise the last couple of years and don't see any benefit in switching. 

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7 hours ago, pronto said:

I see Zelle advertised at my banks, but I've been using Square Cash and TransferWise the last couple of years and don't see any benefit in switching. 

We make one monthly payment to a friend who prefers to use Square Cash.  

 

I hate having our debit card info on file with them.  Is there another way?

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On 5/30/2019 at 3:49 AM, cv91915 said:

We make one monthly payment to a friend who prefers to use Square Cash.  

 

I hate having our debit card info on file with them.  Is there another way?

I don't think so. You have to have either your debit card or bank account. They do allow credit card now, with a surcharge, but I believe you still need a debit card or bank account linked as well. 

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My biweekly transfer from Chase to Bank of America:

 

Jgf1vNJ.png

 

 

 

I thought the party was over, but a few minutes later I noticed a text message from Chase asking me to confirm the transaction, which is odd since I do 26 of these a year and they're almost always the identical amount to the identical recipient (TAD, using a shared email address).

 

I responded "YES" to the text message, and about 20 minutes later I got an email from Bank of America that the funds had arrived.

 

While I waited, I did my biweekly transfer from Wells Fargo to Bank of America, and it went through immediately.

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My biweekly transfer from Chase to Bank of America:  

Jgf1vNJ.png

 

 

 

I thought the party was over, but a few minutes later I noticed a text message from Chase asking me to confirm the transaction, which is odd since I do 26 of these a year and they're almost always the identical amount to the identical recipient (TAD, using a shared email address).

 

I responded "YES" to the text message, and about 20 minutes later I got an email from Bank of America that the funds had arrived.

 

While I waited, I did my biweekly transfer from Wells Fargo to Bank of America, and it went through immediately.

 

 

I do the ACH transfer, not Zelle, for exactly the same amount from Chase to BofA checking monthly to avoid fees. :-)

 

Doesn’t Zelle have recurring transfer option?

 

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6 hours ago, credit_help said:

 

I do the ACH transfer, not Zelle, for exactly the same amount from Chase to BofA checking monthly to avoid fees. 🙂

 

Doesn’t Zelle have recurring transfer option?

 

ACH is slower than writing a check and using remote deposit.  

 

I don't know about automating the Zelle transfer.  That option doesn't appeal to me.

 

I like to control when things occur so I don't have to have an alternate process to handle exceptions. 

 

It's just how my mind works.  

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ACH is slower than writing a check and using remote deposit.  
 
I don't know about automating the Zelle transfer.  That option doesn't appeal to me.
 
I like to control when things occur so I don't have to have an alternate process to handle exceptions. 
 
It's just how my mind works.  


My lazy mind prefers autopay. :-)

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