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US banks created Zelle, with free instant transfers via your banking app. It’s a shame more people don’t use it. Otherwise people just use credit cards for payi
by throwawaywindev 7y ago
US banks created Zelle, with free instant transfers via your banking app. It’s a shame more people don’t use it. Otherwise people just use credit cards for paying for stuff.
- clintonb 7y agoZelle is only for P2P payments, and was not initially available at every bank. Additionally, some banks market it differently. Not everyone knows the service they are using is Zelle.
- stickfigure 7y agoZelle (possibly just "as implemented by the banks I've interacted with") has very small limits - a couple thousand dollars.
- TazeTSchnitzel 7y agoAre people really going to make big transactions using Facebook money?
- stickfigure 7y agoPeople will make whatever size transactions they need to make by whatever mechanism they trust. If Zelle cannot make the transaction happen, it is out of the running. Full stop.
- a3n 7y ago> with free instant transfers I've noticed a "fee: zero" statement on the transfer page recently. I expect there will be an actual fee in the near future.
- fourthark 7y agoU.S. credit cards extort big fees from businesses and give kickbacks to consumers. Hard for "free" to beat that, if consumers have the choice. It may change now that businesses are allowed to pass on fees.