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What is Zelle?

Asked by G. Cole, Last updated: Mar 25, 2020

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K. Galatia

K. Galatia

Answered Mar 25, 2020

Zelle is a digital payment network that allows users to send money between banks in the United States within minutes. Zelle is owned by Early Warning Services. It was formerly known as clearXchange. Zelle was founded in June 2017.

Zeller users can send money across to other Zelle users. It is fairly easy to use. Only the phone number or the email address of the recipient is needed to carry out a transfer. The money will be deducted from the payer’s bank account and transferred to the recipient’s bank accounts with a few minutes.
To register on Zelle, you must use a supported MasterCard or Visa Card connected to a U.S. bank account.

 

Olive landon

Science has been working for years in the health department and it has caught my attention since in was in school and I found it very intriguing.

Olive landon, Health science specialist, Master of Health Science (MHS), Logdon, Utah

Answered Mar 19, 2020

Zelle is a digital payment network based in the United States and owned by a private financial services enterprise called the Early Warning Services. This private company is owned by some backs, which are the US Bank, Wells Fargo, JPMorgan Chase, BB&T, PNC Bank, Bank of America, Capital One, and Citibank.

Zelle works in such a way that a user can transfer money electronically from his registered account to another bank account that is registered under this platform with the help of your mobile device. It only functions in the United States. This network was formerly known to be called clearXchange as launched in April 2011.

However, in the month of June 2017, Zelle was launched in the United States. The website platform for Zelle's electronic payment service is www.zellepay.com. In January 2016, Zelle was sold to the Early Warning Services after US Bank and Capital One joined in the clearXchange platform.

 

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