What Is Zelle And How Does Zell Work?

Zelle is a digital payments network in the United States operated by a private financial services company owned by major banks like Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo. It allows users to send and receive money quickly and securely through their banking apps or the Zelle app, facilitating peer-to-peer transactions with ease.


How Does Zelle Work?

Zelle works by enabling users to send and receive money quickly and securely with friends, family, or others they trust, even if they bank with different financial institutions. Users can initiate transactions using only the recipient’s email address or U.S. mobile phone number, ensuring direct transfers from their bank accounts to the recipients’ accounts in minutes. Zelle simplifies peer-to-peer payments, offering a convenient and efficient way to transfer funds digitally.

How Does Zelle Make Money

Zelle makes money through partnerships with banks and credit unions, charging these financial institutions fees for offering the Zelle service to their customers. While Zelle itself does not charge users fees for sending or receiving money, it generates revenue by providing its platform to banks and credit unions, enabling them to facilitate quick and convenient money transfers for their customers.

Scroll to top