Can I Use Zelle To Send Money to My Other Bank?

We are in a world today where every business is based mostly online and some even exist totally online without any physical location and for this reason, transferring money online has become far more essential than in the past years.

Zelle is one of the best financial apps that lets users transfer money between banks and for this, most users often wonder if they can use Zelle to send money to their other bank accounts.

Zelle is a well known P2P payment service mostly based in the United States and it lets users send and receive money to and from their bank accounts in less than no time.

As time goes on, the banks witnesses an increase in the amount of money transferred annually and this, thanks to the bank's instant bank-to-bank transfer service.

From Zelle's statistics, consumers and businesses sent 1.8 billion payments via Zelle Network as of the year 2021, which is a 49% increase from a year earlier. Now, Early Warning Services, LLC, the network operator in charge of Zelle, announced the payments has risen to about $490 billion, which is up by a whooping 59%.

This spike in the amount of funds transferred through Zelle Network, simply shows how easy and convenient the Zelle app is for most of those making use of it.

With all these advantages, sure you might be shocked to know that getting started with Zelle is totally free and will not cost you a dime. All you have to do is to download the Zelle app, signup for an account, and then link your U.S bank account or debit card to it.

If your bank is part of Zelle's Network, then you can easily enroll with Zelle via your bank mobile app.

As soon as you are done linking your bank to Zelle, you can send money to any U.S bank within just a few minutes.

Individuals that have more than 1 bank account might surely want to know if it is possible to use Zelle to send money to my other bank account.

Stay glued to this article as will provide you with clear explanations to help you leave here without any of such doubts.

What is Zelle?

Zelle is a popular digital payments platform in the United States that enables users to send and receive money quickly and securely through their banking app or online banking platform. It is a peer-to-peer (P2P) payment system that allows users to transfer funds directly to friends, family, or anyone else who has a bank account within the Zelle network.

The platform was developed as a collaboration between major American banks, including Bank of America, Wells Fargo, JPMorgan Chase, and others. Zelle offers a convenient way to send money, split bills, or make payments for various purposes, such as rent, utilities, and shared expenses.

Can I Use Zelle To Send Money to My Other Bank Account?

Yes, you can use Zelle to transfer money to your other bank account only if you have another email address and U.S phone number to enroll your other bank with Zelle.

With Zelle, you can only link a single bank account to your profile. This means that there is no way ot you can use more than one bank account with your Zelle account.

This simply means that sending money to your other bank account would demand you to open a Zelle account with a different phone number and email address.

It is clearly stated in Zelle's terms that each user is entitled only to one Zelle account. So it is good you know that opening another Zelle account is against Zelle's terms.