If you want to send money to others using Zelle, you need to find a new solution. April 1, Digital Payment App closure.
This doesn’t mean that Zelle itself has disappeared. It only stops its standalone application. If your bank belongs to the Zelle network, you can still use Zelle through the bank’s mobile app or website. There are many other options for sending money electronically.
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Here’s what you need to know about this change and your choices to move forward.
Why the Zelle app is closed
When Zelle started 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.
In December, Zelle became the focus when the Consumer Financial Protection Agency 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 digital payment application, for example:
- Apple wallet
- Cash Application
- PayPal
- Venmo
Take some basic precautions when using Zelle or any other digital payment service. These apps are common targets for scammers, and 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.
