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Lots of banks and Credit Unions have implemented Zelle in app, its the last gasp they have to compete against Venmo. The only upside to Zelle is essentially off
by metei 8y ago
Lots of banks and Credit Unions have implemented Zelle in app, its the last gasp they have to compete against Venmo. The only upside to Zelle is essentially offering instant transfers for free, where Venmo makes you wait a few days or pay $0.25.
- morogop 8y agoThe upside is that it's instantly in the target bank account, not a week away as it is with Venmo. I use Venmo to pay bar tabs and event tickets. I use Zelle to send my wife money for the mortgage.
- dawhizkid 8y agoThat’s a pretty huge upside IMO... It’s actually even faster than instant deposit on Venmo because the funds appear to settle instantly (not just transferred instantly)
- metei 8y agoIt is, I rather like it. There is a 1 business day delay for your first transaction fyi, which is a reasonable fraud deterrent. All transactions thereafter between Zelle members are instant and free though!
- magduf 8y agoIt is pretty huge, and as long as you're using it with people you actually trust, it should be safe.