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    How to accept money from zelle us bank


    how to accept money from zelle us bank

    Are you a Canadian moving to or living in the US? Simplify your financial life and save money with cross-border banking advice and solutions from RBC Bank. Zelle is a fast, safe and easy way to send money directly between almost any bank accounts in the U.S., typically within minutes 1. With just an email address. Zelle is a service that facilitates money transfers between US bank users. If you bank with a smaller institution that isn't partnered with.

    How to accept money from zelle us bank -

    No

    Yes. It's a good idea to let your recipient know the first time you use Zelle so they know what to expect.

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    Log in to your Ally Bank account and select Zelle® from the Payments menu. Then choose the primary account you’d like to use. Once you verify that your profile information is correct, you can start using Zelle.

    Note: If you've already enrolled with your email address or mobile number at another bank that offers Zelle, and you want to receive your funds in your Ally Bank account, you can make that change either in online banking or in the mobile app.

    Online: Go to Payments, select Zelle®, and then choose Activity. From there you can transfer your mobile number or email address to Ally Bank.

    Mobile app: Go to Zelle®, and choose Settings, then select Zelle Settings to transfer your mobile number or email address to Ally Bank.

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    If your Zelle payment qualifies for our fastest delivery speed and your recipient is already registered with Zelle, it will be completed within minutes. These transactions cannot be canceled. Zelle payments that are delivered using 1- or 3-business day delivery may be canceled if that option is available in Activity or the recipient hasn't yet registered with Zelle.

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    How to send money. All you need is the recipient's email address or mobile phone number:

    • Select Zelle® from the Payments menu, and then choose Send
    • Choose a recipient or select Add Contact to add a new recipient
    • Enter the amount you’d like to send
    • Once you’ve reviewed your information, select Send Now

    Recipients will receive notifications when they receive a payment, but it’s always a good idea to let them know that you're sending money.

    How to request money. You can request money from a person using their email address or mobile number:

    • Select Zelle® from the Payments menu, and then choose Request
    • Enter the amount you'd like to request
    • Once you've reviewed your information, select Request

    You'll be notified when the money you've requested has been sent.

    How to split expenses. You can split a bill with up to five people using their email address or mobile number:

    • Select Zelle® from the Payments menu, and then choose Split
    • Enter the total amount you'd like to split
    • Once you've reviewed your information, choose Split

    You'll be notified when the money you've requested from each person has been sent.

    How to receive money. Money sent to the email or phone number you've registered at Ally Bank will usually arrive in minutes and be deposited automatically. We'll notify you when the money you’ve requested from the person has been sent.

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    Yes. We work hard to keep your personal information safe and secure. Visit the Ally Security Center to learn more about how we protect you when you bank with us online or on your mobile device.

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    U.S. banks launching answer to peer-to-peer payment app Venmo

    NEW YORK (Reuters) - The U.S. banking industry is about to launch its answer to the popular mobile payments app Venmo, in what is likely to be the biggest change in years in how individuals exchange funds digitally.

    Over the next week, five of the largest U.S. banks will light up their segments of a new payments network called Zelle, executives said in interviews. They plan to announce details of the launch on Monday, and expect another two dozen banks and credit unions to join over the next year.

    The long-awaited network will allow tens of millions of bank customers to send money to each other instantly - known as person-to-person payments - with a few taps on their smartphones. That is an improvement over Venmo, which immediately alerts users that a money transfer is in progress, but takes time to shift funds between bank accounts.

    Customers who use existing bank payment apps may not notice much of a change beyond marketing. Transfers will simply happen faster because the banks are finally linking to each other, executives said.

    "By coming together to offer Zelle, we are providing a large majority of Americans with a safe, fast and easy way to move money," said Bill Wallace, head of digital at JPMorgan Chase & Co JPM.N, the biggest U.S. bank by assets.

    JPMorgan, Bank of America Corp BAC.N, Wells Fargo & Co WFC.N, U.S. Bancorp USB.N and Capital One Financial Corp COF.N will be the first to plug into Zelle. The network is the product of an industry consortium called Early Warning Services LLC, whose seven owners have more than 86 million U.S. mobile banking customers.

    Zelle took years to establish because fierce rivals had to come together to make it work. In the interim, Silicon Valley has made inroads into digital payments, particularly with the young customers coveted by banks.

    In addition to Venmo, which is owned by PayPal Holdings Inc PYPL.O, Facebook Inc FB.O, Alphabet Inc's Google GOOGL.O and Apple Inc AAPL.O all offer payment platforms that allow individuals to send money to each other. The banks want to leap over those sleek but scattered offerings by connecting their critical mass of account holders through a single network.

    “Fragmentation has been frustrating for consumers,” said Paul Finch, chief executive of Early Warning. “Inconsistent experiences have made it difficult to send and receive money between banks.”

    Despite losing some ground to technology companies, banks still have a big advantage: No matter what network is used to transfer money, banks hold the vast majority of funds.

    And despite the popularity of apps like Venmo, they transfer far less money than banks. The value of digital payments processed through non-financial firms was one-fifth of what banks and credit unions processed last year, research firm Aite Group estimates.

    “We are excited to bring the service to everybody and anybody, regardless of which brand of phone you have in your hand or which generation you belong to,” said Gareth Gaston, head of omnichannel banking at U.S. Bank.

    Along with building customer loyalty, banks hope that Zelle will reduce their costs from handling checks and cash. Eventually, they would like to sell access to businesses that want to eliminate their own paper-related costs.

    As more banks connect and more customers use the service, sending cash to another individual will simply involve knowing the person's mobile phone number or email address. Later this year, individuals with accounts at banks not connected with Zelle will be able to use its real-time features by downloading an app and pairing it with a Visa Inc V.N or Mastercard Inc MA.N debit account.

    In launching Zelle, banks are being careful not to confuse customers by offering yet another payments app.

    For instance, Chase will initially twin the brand with the QuickPay app its customers already use by showing “QuickPay with Zelle” on its mobile app and website. Eventually, the QuickPay name could fade away.

    Источник: https://www.reuters.com/article/us-usa-banks-payments-zelle-idUSKBN1931C2

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    Posted by: | on October 2, 2012
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