The Zelle app will go out on Tuesday. Here’s how to send money instead:
If Zelle is your go-to way to send money digitally, listen: From Tuesday, you’ll be Digital payment app already.
However, there’s no need to panic. This change applies only to standalone apps. If your bank offers Zelle through your mobile app or website, you can continue to use it. If not, there are many other ways to send money electronically to friends and family.
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Here’s what you need to know about this change and future options:
read more: The best digital wallets and payment apps
Why the Zelle app is shutting down
When Zelle was launched in 2017, around 60 US financial institutions served by the end of the year. Today, that number is over 2,200. As a result, you will experience less than 2% of Zelle transactions through standalone apps. Zelle has been phased out the ability to create transactions on mobile apps since October 2024.
“The vast majority of people who use Zelle today to use it through a financial institution’s mobile app or online banking experience think this is the perfect place for a Zelle transaction to occur,” Zelle said. October 2024 Press Release.
Last December, Zelle was in the spotlight by the Consumer Financial Protection Bureau. Sued the company and the three largest US banks because they were unable to protect consumers from widespread fraud in their peer-to-peer payment networks. The lawsuit has been since It was dropped.
Other ways to send money digitally
If you are part of the Zelle Network, you can use Zelle on your bank’s app or website. You can also switch to another popularity Digital payment applike:
- Benmo
- PayPal
- Apple Wallet
- Revolat
- Cache app
If you use Zelle or other digital payment services, take some basic precautions. These apps are frequently targeted con manand Chase Bank has started blocking We believe that some Zel payments could be fraudulent. Just send money to people you know and trust and see the red flag like an emergency message Claiming it is from your bank Or online ads for concert tickets that seem incredibly cheap.