If Zelle is your preferred method of sending money digitally, listen: Starting Tuesday, you won’t be able to use it Digital Payment App After that.
But, no panic is needed. This change is only available for standalone applications. If your bank offers Zelle through its mobile app or website, you can continue to use it. And, if not, there are many other ways you can send funds electronically to friends and family.
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Here’s what you need to know about this change and future choices.
Read more: The best digital wallets and payment apps
Why the Zelle app is closed
When Zelle launched in 2017, by the end of the year, only about 60 U.S. financial institutions provided the service. Today, that number is over 2,200. As a result, less than 2% of Zelle transactions are conducted through standalone applications. Since October 2024, Zelle has been phased out its ability to trade with mobile apps.
“Today, most people who use Zelle to send money through their financial institutions’ mobile apps or online banking experiences, we think it’s the best place for Zelle Transactions to do it,” Zelle said in a statement. October 2024 press release.
Zelle became a focus last December when the agency with consumer finances protected Sue the company and the three largest U.S. banks failed to protect consumers from widespread fraud on the peer-to-peer payment network. Afterwards the lawsuit Discarded.
Other ways to send money digitally
If Zelle belongs to the Zelle network, you can still use Zelle through your bank’s app or website. You can also switch to another popular one Digital Payment AppFor example:
- Venmo
- PayPal
- Apple wallet
- rovolut
- Cash Application
Take some basic precautions when using Zelle or any other digital payment service. These applications are common targets fraudand Chase Bank has begun to block It believes that some Zelle payments could be fraudulent. Send money only to people you know and trust and be aware of red flags like emergency messages Claimed from your bank Or online advertising, for concert tickets, which seems to be cheap.
