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Zelle[1] is a fairly recent solution to that problem. Free and nearly instant email address based transfers directly through your bank account without having t
by nickjj 7y ago
Zelle[1] is a fairly recent solution to that problem.
Free and nearly instant email address based transfers directly through your bank account without having to sign up for anything extra. I've done a bunch of transfers with it and it's been solid.
It's about as easy as you can get and most US banks support it.
[1]: https://www.zellepay.com/ https://www.zellepay.com/
- tempsy 7y agoDouble edged sword IMO. If you use Zelle and off a digit in a phone number or email you are out of luck. No way to recover funds once sent.
- nickjj 7y agoIf you send it to an email address that doesn't exist, does the transfer go through? If so who ends up with the money? It's been a while since I sent funds to a new address but I am pretty sure my bank's UI provided protection against that, and now when I send future funds to the same account, I just pick them from a drop down box instead of entering it manually.
- vinay427 7y agoIt cancels after a few weeks (IIRC) of remaining unclaimed.
- tempsy 7y agoNo - it’s more dangerous with a phone number, which is how I usually send/receive. Much, much safer way to use Zelle is to ask the receiver to request a payment from you and then accept the request.
- nickjj 7y agoThat's a good idea in both cases. Although I'm guilty of just sending funds direct but only through email addresses which I usually copy / paste straight from what someone wrote to me.