What is Zelle® and how does it work?

Zelle® is a free and easy-to-use digital payments service at Capital One that's also already included within many banking apps. Learn everything you need to know to get started with Zelle® so you can send and receive money with ease.

Key takeaways

• Zelle® is a free digital payment service at Capital One you can use to quickly send money to and receive money from people you know and trust.

• Zelle® enables money to be sent directly from bank account to bank account instead of holding money in a third-party account. There’s no need to cash out.

• Zelle® is offered by over 2,100 financial institutions, and account holders at banks that offer Zelle® can access Zelle® through their mobile banking apps.

Zelle® is a digital payments platform similar to PayPal, Venmo and Cash App. Zelle® lets you send money to friends, family and other trusted recipients—even if you use different banks in the U.S. 

Capital One checking account holders can enroll in Zelle® through the Capital One Mobile app. And after enrolling your bank account, you can quickly and easily send money through the Capital One Mobile app or online. There are no fees to use Zelle® if you’re a Capital One checking account holder.

Unlike some services, Zelle® enables you to send money directly from your bank account to your intended recipient’s bank account. Most Zelle® payments are typically available in minutes when the sender and receiver are already enrolled in Zelle®. And you only need the recipient’s email address or U.S. phone number to send money. 

In comparison, traditional bank transfers can take several business days. Bank transfers may also require you to input details like routing and account numbers, which you or your recipient may not have on hand.

As a result, Zelle® is a convenient way to send and receive money compared to bank transfers. You can send money in a short period of time. And you don’t have to have details like your routing and account number on hand to initiate a payment.

Zelle® can be a good option for sending money to friends and family. But is it right for you? Consider potential benefits and things to be aware of before enrolling in and using Zelle®.

Curious about how you can send or receive money with Zelle®? Here are four steps to enroll in and start using Zelle®:

Check your mobile banking app for Zelle®. Many banks and credit unions have partnered with Zelle® and integrated the service into their mobile app or online portal. 

You can browse the list of banks that offer Zelle® to determine whether your bank works with Zelle®. And if your bank isn’t on the list, you can still use the Zelle® app to send and receive money with a Visa® or Mastercard® debit card associated with a U.S.-based account.

If you haven’t used Zelle® before, you’ll need to enroll through your banking app or the Zelle® app. Capital One checking customers can easily enroll in Zelle® through the Capital One Mobile app. To get started, navigate to your Capital One checking account and select Send Money with Zelle® to get started.

You’ll only need your U.S. mobile number or email address to enroll through your bank. 

One thing to keep in mind: If you previously enrolled in Zelle® through a different financial institution, you may be prompted to confirm you are OK with your U.S. mobile number or email address being removed from your previous account to be enrolled in the new account.

After you complete the enrollment process, you can send money to almost anyone who has a bank account in the U.S.

From the Zelle® page, start by choosing Send. Then you’ll see a prompt asking for the recipient’s contact information. Simply type in their full name, U.S. mobile number or email address to locate your recipient and select them from your contacts.

Finally, enter the amount of money you’d like to send.

Before you confirm your payment or request, make sure you double-check the information you provided. You may not be able to cancel the payment if you use the wrong email address or U.S. mobile number. 

If you’re certain the information is correct, tap or slide to authorize the payment. You can also include a note in the Memo field explaining why you sent the payment.

You can receive money in Zelle® two ways: by being paid directly by someone or by requesting money using the request feature.

Just as you would when sending money, you'll need to enroll in Zelle® first before you can receive or request a payment. 

To request money, select Request. Then click Request Money with Zelle. From there, you can select the person you want to receive money from. Note that if you are requesting money from someone not already enrolled with Zelle®, you must use their email address.

Once you’ve selected your contact, enter the amount you’re requesting. Confirm the amount, click Review, then tap or slide to send your request. Once the request has been received, the recipient can respond by sending you money, denying the request or ignoring the request until it expires in 14 days.

If the person you requested money from sends the payment, the money automatically shows up in your account linked to Zelle®. Once you’re enrolled, there’s nothing else you need to do to receive money from friends and family. 

That said, it may be a good idea to check your account and make sure the money shows up. 

Zelle® is a quick and easy way to send money to friends, family and others you know and trust. And you only need to share an email address or mobile number connected to your bank account to use the platform.

Using the payment platform means you don’t have to carry cash or checks, which could get lost or stolen. Unlike many other digital payment platforms, Zelle® doesn’t hold funds in a third-party account. Instead, it notifies your bank about the incoming payment. Then your financial institution directs the payment into your account. 

But it’s still important to use Zelle® wisely and carefully. If you accidentally send money to the wrong person, you may not be able to cancel a payment or get your money back. 

Zelle® is a fast and easy way to send money to and receive money from friends, family and others you trust, right from your mobile banking app. Plus, Capital One doesn’t charge fees when you send or receive money using Zelle®.

Ready to make P2P payments a breeze? Download the Capital One Mobile app and start sending and receiving money via Zelle® today.