I just got a notice from my bank about a new program called Zelle. From my brief look at the service, it looks like you can send up to $2000 a day to a "Trusted friend or relative" with no fees. Of course you would lose any "scam" protection that you would have with Paypal or other similar service. With proper due diligence I would feel confident using Zelle with most UU, Flea Market, or reputable folks like Mim. Maybe I'm missing something but I'll certainly consider it when making future purchases or sales.
New Digital Payment Network
- Thread starter bariukish
- Start date
Our family uses Zelle and it's very fast, free, and convenient. For us, payments have posted within minutes. Some do banking with "banks" while others are Credit Union members. Your bank has to 'offer' Zelle servicing to participate. FWIW, we have small community banks that participate, so if yours doesn't, it's easy for them to join the network. Haven't used Zelle for non-family, and I agree with OP, due diligence is essential.
