As you know, Zelle is been supported by more than two dozen banks in the U.S therefore you might be wondering if your bank supports Zelle payments too. If you have a bank account with Wells Fargo bank, then obviously you can use Zelle with Wells Fargo.
With Zelle, money transfer happens typically within minutes if the recipient and the sender both have a bank account partnered with Zelle.
Does Zelle have a transaction limit?
For your security, Zelle has a sending limit. There are daily and 30-day (rolling) limits.
The amount of money you can send through Zelle daily or 30 days varies based on your own bank account, your recipient’s funding account, and also the transaction history of the recipient.
How much money can I transfer or send using Zelle
Wondering whether you’re able to send larger amounts of money even if you don’t have a bank account in Wells Fargo? Well, it totally depends on your bank. As said Zelle is partnered with almost more than 2 dozen banks hence if your bank supports Zelle then yes your transaction limits are greater than compared to the ones whose bank doesn’t support Zelle.
To find out whether your bank supports Zelle you should contact your bank and find out.
If your bank doesn’t offer Zelle you might just be able to send $500 a week. But if your bank does offer Zelle, you might be able to transfer larger amounts. However different bank intuitions have different spending limits which you’ll need to find out. There are no limits on the amount of money you can receive through your email or phone number.
Every bank partnered with Zelle has different spending limits and terms. The daily restrictions can range from $1000 to $3500.
There are banks that allow you to spend $500 a day, and there are certain liberal banks that also have a spending limit of $5000 a day. Some banks allow you to send only $5000 a day.
Moreover, some banks, like Citibank, may reserve certain benefits for established clients. You have to have your account with the bank for a certain period to qualify for the higher daily limit.
What is the Zelle limit for Wells Fargo?
Wells Fargo clients have a daily limit of $2,500 and a monthly limit of $20,000.
However, it must be noted that Wells Fargo can either increase or decrease its spending limits depending on how long the user has an account in their bank account or the money source.
Discover Zelle transaction limit
If you want to send money in one day, Zelle Instant allows you to transfer money to anyone using just his/her email address or phone number, typically within minutes.
If there’s no rush, Zelle standard will transfer your fund the day after you pay, or on a future date. You need the recipient’s phone number or email address linked with their bank account.
Zelle standard has a higher transfer rate than Zelle Instant.
Here are the send limits of both ways:
|Daily Limit||Monthly Limit|
|Zelle Instant(Schedule to send money today)||$1,500||$10,000|
|Zelle Standard(Schedule to send money tomorrow or at a future date)||$5,000||$10,000|
Finding your sending limit
As the spending limit varies from bank to bank, hence to check your bank’s sending limit you need to follow these steps:
- Log in to you Online banking account
- Once in Zelle, click send.
- In the middle of the page, click on limit for more information regarding the spending limit.
There are no restrictions of receiving limits on Zelle, however, it depends on the sender’s limits of how much they can send. Senders can only send the amount of money their bank allows them to.
Transactions with Zelle
Having known all the transfer limits you can now start transferring money if you wish to.
- If you are willing to transfer money to someone follow the simple steps:
- Go to your mobile banking app or log in to their website.
- You can see the amount of money you have in your bank.
- To start transferring money through your online banking app. Tap on ‘Send money with Zelle’.
- Your contact list will appear on the screen. Select the person you want to send money to. Even if the person you want to send money is not in your contact list you can type the email address or phone number to send them money.
- Now enter the amount of money you want to send. Preview the details and add a memo if you like. Now click on Slide to Send to finish your transaction.
- You need to hit the confirm button to finish the transaction and the money would be sent to your recipient within minutes.
Giving a bank account number is not necessary.
You can contact your bank or contact the Zelle customer support team for any further queries through the toll-free number.