(Topic ID: 233023)

Anyone use Zelle?


By Coz

3 months ago



Topic Stats

  • 18 posts
  • 13 Pinsiders participating
  • Latest reply 3 months ago by Mank
  • No one calls this topic a favorite

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    Topic poll

    “Do you recommend using Zelle?”

    • Yes 4 votes
      67%
    • No 2 votes
      33%

    (6 votes)

    #1 3 months ago

    Does anyone use Zelle pay? I’ve never used it and don’t know much about the service. I’ve got a potential game purchase from a seller that will only accept Zelle and not PayPal. He’s about 3 hours away and I’m just uncertain with this new service. Any advice, opinions etc are greatly appreciated

    #2 3 months ago

    Yes every month. It works great. Same bank hits almost immediate. $1500 limit though no big $$$

    #3 3 months ago
    Quoted from whthrs166:

    Yes every month. It works great. $1500 limit though no big $$$

    I sold a car and got paid $2000 with it. We both had the same bank so maybe that affects the limit, not sure.

    #4 3 months ago

    The limit has to do with the payer and his bank's relationship with him not receiver. The guy I have paying me pays rent every month.

    #5 3 months ago

    Great for now.

    Haven’t heard of a way to get frauded yet unless buyer were to use a stolen bank account for payment.

    Cheaper faster easier than a wire transfer without having to disclose info like an account number

    #6 3 months ago

    I used it once to sell 2 games and worked great. As always make sure you trust the person you are dealing with and don't use it for any more than you can afford to lose.

    #7 3 months ago

    Someone just hacked my online banking account this week and stole $500 using Zelle. Apparently Zelle is the easiest way to steal money from an account. My bank couldn’t stop the pending transaction. Not a fan.

    #8 3 months ago
    Quoted from tbanthony:

    Someone just hacked my online banking account this week and stole $500 using Zelle. Apparently Zelle is the easiest way to steal money from an account. My bank couldn’t stop the pending transaction. Not a fan.

    We’re you able to recover the stolen funds?

    #9 3 months ago
    Quoted from Coz:

    I’ve never used it and don’t know much about the service.

    Zelle's own web site (FAQ #3) recommends NOT using their service to pay someone you don't know. Send a $100 deposit and pay the rest when you pick up the game, but know that you could lose the $100.

    #10 3 months ago

    I use it monthly thru my bank. Works great with no issues

    #11 3 months ago

    I sold my motorcycle long distance and the dumb kid couldn’t figure out how to wire transfer, so he sent me the money via Zelle and since my bank doesn’t support Zelle it was a huge pain in the ass. What is wrong with wire transfers this Zelle, Venmo stuff is BS and has no protections I can’t understand why banks let it access accounts.

    I would love to block Zelle on my accounts the same way I block ACH and use legitimate services like Posituve Pay etc.

    Convince of things like Apple Cash $20 or PayPal $200 fine but thousands or more shouldn’t be too “convenient”

    #12 3 months ago

    I've had no problem with Zelle other than if you have multiple accounts, you need to set the correct account as default before receiving the transfer (as the seller.)

    Zelle is integrated with many big financiall institutions. The risk is all on the buyer if the seller is a scammer.

    It works just like a wire transfer, (but there is no fee, and you can do the transfer by logging into your bank's website.)

    I've used it with pinsiders sending them money, trusting their reputation / length of pinside membership.

    If you are the seller (recipient) and both parties are Zelle members, your cash is safe and cannot be backed out once it is received.

    Zelle is perfectly legit, but you gotta trust the seller.

    It's super easy to sign up in Zelle. And will automatically work if both party's already bank with member institutions.

    #13 3 months ago
    Quoted from tbanthony:

    Someone just hacked my online banking account this week and stole $500 using Zelle. Apparently Zelle is the easiest way to steal money from an account. My bank couldn’t stop the pending transaction. Not a fan.

    Your bank account got hacked. Blame your bank for not protecting your money.

    Zelle is a service that requires you to authorize the transfer. If you didn't authorize it, then your bank failed you, not Zelle.

    My bank will call me whenever they suspect fraudulent activity. Change banks.

    #14 3 months ago

    Be careful with it, we see issues pop up with it at work:

    https://www.nytimes.com/2018/04/22/business/zelle-banks-fraud.html

    #15 3 months ago

    I’m thinking I’ll be ok using it for a deposit. I’m dealing with a seller in our Facebook group, so I somewhat trust him. I’ve never dealt with him before, so that makes me a little nervous

    #16 3 months ago

    I've used Zelle as both a buyer and seller for my last couple of purchases with no issue, except as someone pointed out some banks have daily limits you have to work around. From my understanding, it works essentially the same as a certified check without the waiting hassles. For a seller, I was told by my bank that I am secure once I get the funds (which shows up within seconds on my app) and no worries on waiting for a check to clear or that the check was fake. As a buyer, it's just like a certified check (or wire transfer) in that the risk is on you that the seller is trustworthy since you don't have much recourse beyond police/fraud reports if they rip you off. I prefer it to PayPal since there is no fees to do it, no hold on your money when you get it, and someone can't do a charge back months later on a whim.

    #17 3 months ago
    Quoted from tbanthony:

    Someone just hacked my online banking account this week and stole $500 using Zelle. Apparently Zelle is the easiest way to steal money from an account. My bank couldn’t stop the pending transaction. Not a fan.

    You need a new bank....

    #18 3 months ago

    So last night at dinner I was talking to my college age daughter and Venmo came up, which she uses all the time.
    I asked her if she ever used Zelle?
    She said, "Dad, I'm not 85 years old."

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