3 ms·
My understanding is that Zelle transfers are just settled by ACH under the hood, which is the same system that settles checks. However there is possibly some n
by stanleydrew 3y ago
My understanding is that Zelle transfers are just settled by ACH under the hood, which is the same system that settles checks.
However there is possibly some new "real-time payment" feature of the ACH network that could be equivalent to wire settlement, but I'm not sure Zelle actually uses it.
- culturestate 3y agoAs far as I know Zelle prefers RTP[1] for settlements and falls back to ACH only when necessary, but I'm sure there's a Zelle employee on here who can confirm one way or the other. There's also FedNow[2] but I don't know of any retail implementations yet. 1. https://www.theclearinghouse.org/payment-systems/rtp https://www.theclearinghouse.org/payment-systems/rtp 2. https://www.frbservices.org/financial-services/fednow https://www.frbservices.org/financial-services/fednow