Card not connecting? Get answers today.
Have you struggled to connect your card in the Zelle payment app, or had issues receiving or sending funds? If so, you're not alone. We heard reports from our members, having difficulty connecting their debit cards to Zelle, and decided to investigate. As a result, we uncovered some interesting bits of information that we think you might like to know.
Read below to find out what we learned about Zelle.
Four things to know about Zelle Pay
#1 - Zelle was created by a network of big banks.
#2 - Less than 3% of US Financial Institutions are currently compatible with Zelle.
#3 - To use Zelle, you must have an account at a participating bank.
#4 - There are free alternatives to Zelle, without account restrictions.
Exercise Caution Using Any P2P System
While P2P payment systems can seem useful and convenient, your protection in most of these systems is limited. It’s important to take precautions to protect your information and accounts while using any peer to peer platform. If money is accidentally sent to the wrong account or if your credentials are stolen, there are typically limited options for recovery. Add two-step authentications whenever possible, safeguard your login credentials, and ensure you only send money to other accounts that you know, and have verified their identity, if you choose to use P2P.
P2P at Credit Union West
Here at Credit Union West, we are always working to improve our services for members and make new technology and options available. We are actively reviewing P2P options, in order to find the best, most secure option for our members.
*Institution count taken from Callahan, 09/2019 data. Participating banks were found on the Zelle website.
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