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Zelle as a payment

Same as sending cash to someone you don't know.

Lots of folks use it.
Do your own diligence and have a quick video chat with the buyer or seller before doing the transaction.
If it's an amount that won't bug you if you lose it, then no big deal.
If it's an amount you would be upset to lose, then do a bit of checking before the deal and do a quick video chat before making the transaction.
 
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Major Banks use it--like USAA. Its not fly by night, but like said, do your due diligence. It will in fact send the money to who you tell it to. Be sure you got the right person and be sure they are legit.

I usually send $1 the first time then have the recipient confirm they got it. And a lot of times there are transaction limits....larger purchases may be several transactions a few days apart.

ZY
 
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If it works for you, its fine
You may or may not get any customer service if you have an issue
and once you send money, its gone, no getting it back

I think Zelle is a POS platform with more bugs than say Paypal

bank of america is involved, that could be why it sucks lol

Zelle’s network operator, Early Warning Services LLC, is owned by seven major banks: Bank of America, Capital One, Chase, PNC Bank, Truist, U.S. Bank and Wells Fargo.
 
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We often use Zelle to pay people for the used optics that we buy. Payment is made once we have received, and inspected, the optic. We've never had a problem, but we are the payer, not the payee, so there's not much risk to us.

The downside is that the payment limits, for first time payees, can be kind of unpredictable. We usually warn people that request payment by Zelle, that we may have to mail them a check.
 
I started leaning in Zelle more heavily to accept payments for my business account for group buys on HKPro, as an established vendor there.

Last year there was that flurry on 1099-Ks for Paypal/Venmo to tell the IRS if you've received over $600 for the year. That made me dump those platforms. Those platforms were given a 1 year grace period to update their systems but this is the man coming after every little transaction you'll be doing from splitting checks to sending a few dollars to your brother... anything...

It will be up to you if you want the government in your business or not. Choosing which platform you chose to use will affect it.
 
PayPal, Venmo, Zelle. I use them all. However for Venmo and Zelle I am usually receiving payment (looking at you @Huskydriver). So no issues on that front. As mentioned above, a quick phone call or video chat goes a long ways to verify someone being legit as does good feedback. So yeah. Do your due diligence and it would be no different than exchanging cash ftf.
 
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