Pros
- Fast and convenient way to send and receive money between U.S. bank accounts.
- No fees for most users when sending or receiving money through participating banks and credit unions.
- Widely available, with over 2,200 financial institutions offering Zelle in their mobile apps or online banking platforms.
- Offers secure way to transfer money, with authentication and security features.
Cons
- No cancelation or purchase protection for sent payments.
- Potential for fraud and scams if not used carefully.
- Requires sharing personal information with Zelle and your bank.
- Transfer limits may vary by financial institution and account type.