It is possible to use Zelle with Ally Bank. However, you must take into account some features to be able to make this kind of operation. We are going to tell you the most important ones and also some useful complementary information.
To begin with, you should know that it is possible to use Zelle in this bank, as it is also possible in other banks that we will detail later. You can operate from your bank account by selecting Zelle as your payment method. Let’s see how.
Trading with Zelle at Ally Bank
First, for this operation, you should log in to your account. Then, to continue trading, you should select Zelle Payments from the menu.
Please note that if you are already registered with your email address or cell phone number in another financial institution that offers this service, you must indicate this option in the mobile application (or in online banking) to receive funds in your Ally Bank account.
Another important piece of information is a daily limit of $500 on your money transfer transactions with Zelle from Ally Bank. That is important information because, regardless of the bank you use, your maximum daily limit with this app will be $1,000.
To make an Ally transfer from Zelle, you must first select the transfer option, then the bank transfer option, and in the link account section, choose the account of your choice. Remember that the bank must perform an account ownership verification. Generally, these verifications are instantaneous, but sometimes, it may take two to three days. That situation happens when micro verification deposits are made.
It is also important to know that there are no transaction fees or commissions for using Zelle. That means you can send the maximum daily limit, and you will not have an added cost of commission or fee.
How to use Zelle and its main features
A very important aspect is that it is an application backed by a bank. As is usually the case, this support translates into greater reliability and peace of mind for the user. However, the security levels are similar to those of large payment platforms such as PayPal.
Another interesting aspect is that it will be possible to use this application regardless of whether you have a bank account or not. That is, you do not need to have an associated bank account to receive money. What you need is to download the application.
Within limits, as we saw above, it is possible to send up to $1,000 per week or up to $5,000 per month. However, here the bank with which the service is associated does matter. Before sending, it is important to check the limits of each bank. You will find from banks with low limits to others that can exceed the monthly limits of $20,000.
It is also important to know that if your bank does not offer this service, the maximum sending limit will be $500. Moreover, this limit cannot be changed in any case.
The standard period to receive a wire transfer is low, usually within a few minutes. However, if the recipient does not have the application installed, it can extend the period to three business days from the time of registration.
It is important to remember that when a first transaction is made, it may take a few days to clear. It could be blocked in the account for at least ten days.
To get the Zelle account, you should first login to the mobile application and register your US email or cell phone number. After a verification process, the new statement will become operational. You can link payment methods from the customer area and perform the steps we have indicated above.
Sending money is also very simple; select the recipient’s email address or US cell phone number.