Are you being scammed? If the item you are about to buy online and pay for with a Zelle transfer seems too good to be true, chances are it is.Zelle should be used to pay friends, family, coworkers and the like - Zelle should not be used to pay strangers. Do you know the recipient? Only send Zelle transfers to people you know and trust.Here are some key tips to increase the safety of your Zelle transfer. However, just because your money should be safe in Zelle’s hands doesn’t prevent user error while transferring money through the app. Zelle is used by hundreds of US banks and transfers money directly between bank accounts. Zelle banks will often receive payments instantly, while payments to a debit card can take a few business days. After connecting Zelle to your bank or debit card and confirming it, you’ll be given a timeline for payment. If your bank is a Zelle partner, select it from the list or download the Zelle app and enroll using a Visa or Mastercard debit card. Select the link inside of this payment notification. You’ll receive a text message or email when you’ve been paid through Zelle. Receiving money with Zelle shouldn’t take long after receiving your payment notification, but payments through a debit card may take a few days or more. Zelle is supported by more than a thousand banks or credit unions. Zelle is free to use, but check with your bank to make sure you won’t pay withdrawal or transfer fees when using Zelle. Instead, money moves directly from your bank account to your recipient’s in as little as a few seconds. Unlike Cash App, Google Pay, Venmo and other competitors, there is no escrow or intermediary period where the money is held by Zelle. Otherwise, the recipient uses a link provided by Zelle to accept the payment to a debit card. If the recipient’s bank supports Zelle, they can accept the payment through their mobile banking app. Zelle sends your recipient a text or email once a payment is waiting for them. Zelle works by moving money directly from one bank account to another. Sending money through Zelle is like sending cash once it’s sent, you can’t get it back – even if you send it to the wrong person. Otherwise, you’re forced to use the mobile app to send money. If your bank supports Zelle, you may be able to access it through the bank’s website. You can’t pay with a credit card to send money through Zelle. Both the sending and receiving bank accounts must be in the US to use Zelle.
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