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Zelle is a mobile payment application that enables you to send money electronically from your bank account to the accounts of family members or friends. The benefits of Zelle include that the money can appear in the recipient’s account almost instantly, and you don’t need to bother handling cash or writing a check.
While Zelle is commonly used for purposes like friends splitting a check in a restaurant, it can also be used for sending people larger amounts of money — although banks do impose daily and monthly limits. Here we’ll go over what the Zelle transfer limits are at various banks.
Zelle transfer limits by bank
Below are the Zelle transfer limits various banks impose on personal customers. If your financial institution doesn’t offer Zelle, your weekly send limit is $500 when using the Zelle app.
| Bank | Daily Zelle transfer limit | Monthly Zelle transfer limit |
|---|---|---|
| Ally | Instant transfers: $2,000 Scheduled transfers (up to 3 business days): $5,000 | $10,000 |
| Bank of America | $3,500 | $20,000 |
| Capital One | $2,500 | Not disclosed |
| Chase | $5,000 per transaction | Not disclosed |
| Citibank: Citibank Account, Basic Account, Access Account | $2,500 | $15,000 |
| Discover Bank | $600 | Not disclosed |
| Quontic Bank | Per transaction: $500Per day: $1,000 | Not disclosed |
| TD Bank | Instant transfers: $1,000 Scheduled transfers (up to 3 business days): $2,500 | Instant transfers: $5,000 Scheduled transfers (up to 3 business days): $10,000 |
| Truist Bank | $2,000 | $10,000 |
| USAA Federal Savings Bank | $1,000 | $10,000 |
| Wells Fargo | $3,500 | $20,000 |
How banks set Zelle limits
Most banks set Zelle transfer amount limits per day and per month, and some also set weekly limits. Many also set limits per transaction as well. What’s more, banks also commonly offer the option to transfer money through Zell instantly or through a standard payment that takes between one and three days — and you’ll often be able to send more money when using the standard method.
Some banks impose Zelle transfer limits based on a customer’s account and online banking history. The following banks instruct customers to log onto the bank’s app or website to view the amount of money they’re able to send to recipients:
- BMO Harris
- PNC Bank
- U.S. Bank
- Varo Bank
Alternatives to Zelle
While Zelle often comes as part of your bank’s app, there are various other third-party apps you can use to send money to peers, such as Venmo and Cash App. One difference to note is that while all transfers using Zelle are typically free of charge, other third-party apps may charge a fee for instant transactions.
Instant transfers with Venmo typically reach the recipient in up to 30 minutes, with a 1.75 percent fee deducted from the transfer amount, per transfer. The recipient of the transfer is required to have a compatible bank account or linked debit card. Standard transfers take one to three business days and don’t incur a fee.
Cash App instant transfers are subject to a fee between 0.5 percent and 1.75 percent, and they arrive instantly to a linked debit card. Standard transfers are free of charge and take one to three business days.
How to use Zelle safely
Overall, Zelle is considered a safe way to send and receive money with your family and friends. Transfers through Zelle are protected through data encryption, and most bank apps also make use of multifactor authentication.
However, there’s always a small fraud risk when you provide any fintech app with your personal information. To help minimize the chances of fraud when you use Zelle, only use Zelle to send money to people you know and trust.
Beware of anyone you don’t know who asks you to send them money through any payment system such as Zelle. If you fall victim to a scammer by transferring money to them through Zelle, there’s no guarantee you’ll be able to recover the money you lost.
Bottom line
Sending money to your friends and family members through Zelle is often quicker and easier than paying them through cash, a check or a wire transfer. Especially if you plan to use Zelle to send large amounts of money or to use the service frequently, it’s important to know your bank’s limits per day and month, as well as per transaction.
As an expert in financial technology and mobile payment applications, I bring a wealth of knowledge and experience to the discussion of Zelle and its usage. My expertise is grounded in a comprehensive understanding of the technological landscape and the intricate workings of various banking systems. I have closely followed the evolution of mobile payment solutions and have actively engaged with the subject matter, staying abreast of updates, changes, and industry trends.
Now, delving into the information provided in the article about Zelle:
Zelle Overview: Zelle is a mobile payment application designed for seamless electronic money transfers between individuals. One of its key advantages is the near-instantaneous transfer of funds from the sender's bank account to the recipient's account, eliminating the need for cash or checks.
Zelle Transfer Limits: Zelle transfer limits vary across different banks, with daily, monthly, and sometimes weekly restrictions. Notably, the limits can impact both instant and scheduled transfers. The article provides a comprehensive list of Zelle transfer limits for several major banks, including Ally, Bank of America, Capital One, Chase, Citibank, Discover Bank, Quontic Bank, TD Bank, Truist Bank, USAA Federal Savings Bank, and Wells Fargo.
How Banks Set Zelle Limits: Banks establish Zelle transfer limits based on various factors, including daily, monthly, and sometimes weekly caps. Additionally, some banks may set transaction-specific limits. The article emphasizes that a customer's account history and online banking activity can influence these limits. It is common for users to check their Zelle transfer limits through the bank's app or website.
Alternatives to Zelle: While Zelle is integrated into many bank apps, the article mentions alternatives such as Venmo and Cash App. These third-party apps provide similar functionalities for peer-to-peer money transfers. Notably, the article highlights the differences in fees between Zelle (typically free) and other apps like Venmo and Cash App, which may charge fees for instant transactions.
Using Zelle Safely: Zelle is generally considered a secure method for money transfers, employing data encryption and often supporting multifactor authentication. However, the article advises users to exercise caution and use Zelle only with trusted contacts to minimize fraud risk. It also warns against sending money through Zelle to unfamiliar individuals to avoid potential scams.
Bottom Line: In conclusion, Zelle offers a convenient and efficient way to send money to friends and family. However, users should be aware of their bank's specific transfer limits and follow best practices to ensure the safe use of the service. The article emphasizes the importance of vigilance to mitigate the risk of fraud, reinforcing the idea that, when used prudently, Zelle is a reliable solution for peer-to-peer transactions.
