Zelle, formerly Chase QuickPay with Zelle, is a revolutionary way to make payments and money transfers easily, quickly, and securely.
With Zelle, you can send money to anyone with a mobile number or email address without having to share any sensitive information. By using Zelle, you can even receive payments directly into your bank account within minutes without any extra fees.
Pay bills and send money to friends and family with ease. Learn more about how to use this payment service in the following article.
What Is Zelle?
Zelle is an online payment service is offered by JPMorgan Chase Bank. It used to be called Chase QuickPay with Zelle before shortening its name to just Zelle. It allows customers to securely send and receive money from other people, businesses, and even organizations.
This free service lets users transfer funds from their Chase accounts to other individuals or businesses using their email address or phone number.
The service is currently available to customers with a US-based checking account as well as customers with select Chase cards.
Learn How to Send and Receive Funds With Zelle
Chase QuickPay makes it easy for you to send and receive funds. To do this, the sender initiates the transaction by entering the recipient's phone number or email address either on the Chase website or through the Chase Mobile app.
The recipient then receives an email with the link to accept the payment. Sometimes, the recipient will also receive a text notification that someone has initiated a payment that includes instructions on how to accept the money.
When the recipient accepts, funds are then transferred to the recipient's account within a few minutes.
How to Enroll
Before you can use the service, you need to enroll in a Chase QuickPay account. You can start by visiting the Chase website or downloading the Chase Mobile app.
Click on “Enroll” and enter your Chase user ID and password. If you don't have one, you can create one by clicking on “Create User ID”. After you've logged in, enter your full name, phone number, address, email address, date of birth, and more.
Verify your identity by providing more information such as your Social Security Number or driver's license number. You can then set up your account by entering your bank account details and any other required information.
After completing all required information and verifying that it is correct, submit them and the enrollment is complete.
Is there a Limit to Using Zelle?
Using Zelle is free and there are no fees associated with sending money through this service. However, there are limits on how much money you can send at one time.
For individuals, the maximum amount that you can send is $2,000 per day and $16,000 a month. For businesses, the maximum is $5,000 a day and $20,000 per month.
Note that these limits apply to all transactions made through Zelle. To increase your daily and monthly limit, you can always contact their customer support for assistance.
Additionally, they will require you to provide additional information to verify your identity before they increase your limits.
Are There Fees With Zelle?
There are no fees for sending or receiving money through Zelle as was stated above. However, for business payments, both the sender and receiver may incur fees.
Senders will be charged a flat fee of $0.50 per payment to be deducted from the total payment amount before it is sent to the recipient. Receivers will also incur a fee when using the service. The fee will vary depending on how quickly the recipient wants to access their funds.
For example, if the recipient wants to receive the money immediately, they will need to pay a fee of 1% of the total amount. If they choose to wait for at least one to two days for the money, they will not be charged any fee. There are also applicable taxes that may apply depending on the states or localities when you use Zelle for business payments.
Send and Receive Money Through the Chase Mobile App
Once you download the app, sign in using your account ID and password. Then, you can immediately start sending money by entering the amount of money you want to transfer and tapping “Send Money” to complete the transaction.
The recipient will then receive a notification the same way it is done when using the website to send money.
If both the sender and the recipient have the Chase Mobile app, the funds will immediately reflect on their account as soon as everything is confirmed.
Check Out Promos
Zelle also offers a wide variety of promotions for its customers. These promos are designed to make it easier and more cost-effective for customers to send and receive money. Promotions don't happen very often but when they do, it is always best to take advantage of them.
A few examples of such promotions like the Chase Referral Program where you get a bonus of $20 for each friend that you refer to Zelle and makes a transfer of at least $25 within the first 14 days.
There are also promotional discounts from partner retailers that use Zelle for purchases online. These discounts can include free shipping, special discounts on selected items, and more.
Sending and receiving money has been made a whole lot easier with the help of Zelle and Chase. This online payment system makes it more convenient and secure so you don't need to worry about every transaction. If you are someone who needs an easy and secure way of sending and receiving money, Zelle may be the right choice for you.