Zelle is available at Ally Bank. Therefore, it is possible to send or receive money through this service. However, it is important to consider the service’s limitations for sending and receiving money and those the bank applies in terms of limits and amounts.
As you know, Zelle is a system that allows you to send and receive money within the United States. We will tell you a little more about how it works and the limits and functionalities within Ally Bank.
Operate with Zelle at Ally Bank
The first thing to know is that if you operate with Ally Bank and Zelle, you have the option to select this payment method for sending or receiving money in the client area of your digital banking.
If you want to send money, you select Zelle as the payment method and follow the usual steps for this operation. On the other hand, remember that this is a service that only operates in the United States. That implies that the phone number you send the money must be American. You can also manage by sending money through an e-mail, but, in any case, you cannot make international transfers.
Another important aspect is that Zelle’s functionalities make it faster to operate when you are enrolled in a partner bank. Here is the list of these Zelle partner banks.
Limits at Ally Bank to operate with Zelle
You must consider Zelle when sending money, although there are some limits to this type of service.
Generally, Banks will apply these limits. Thus, some banks will allow higher monthly amounts or a higher volume of money transfers per month. On the other hand, other banks will only allow small amounts.
In the case of Ally Bank, you can send up to $500 daily. It is important to note that the application allows a maximum of $1,000 per day regardless of the bank with which it is associated.
That means that, for example, you can split a single transfer into several payments. For example, imagine you want to send $ 1,000 to a relative: the first day, you can send $ 500 and the next day another $ 500. There is no additional charge or cost for this type of splitting of money transfers.
When you want to make a transfer, you must first select the option to link an account to the service. Once you have connected the account, remember that all payments will come out of your existing balance. Also, the deposits will come to that bank account.
Account verification can be instantaneous, although in some cases, it may take a few days: especially if some micro transactions are made to verify the account.
Finally, it is also important to know that you will not be charged any transaction fees or commissions. In other words, you could send money daily (within limits) and would not be charged any additional fees or costs.
How to use Zelle
The first thing to know is that it is an application directly associated with banks. In this case, specifically to banks operating in the United States. Therefore, it will not be able to use internationally.
Another important aspect is that it is usually recommended to be directed to operations in known environments. That is to say, for example, a payment between friends, sharing money, family gifts, etc.
It is not usually recommended as a payment method to purchase products from third parties, mainly because there is no cancellation possible. Once the money has been credited to the recipient’s account, the only way to cancel the transaction is if the receiver agrees to return the money.
However, if a transaction is pending, when the recipient does not have the application registered, it is possible to cancel it from your digital banking section.
Just because the recipient does not have an associated bank or the application registered does not mean they cannot receive money. If you send money to a US phone number you know but do not have the application, they will receive a link through which they can download the application and later claim access to the funds.
In no case will it be possible to access the funds if you do not have the application downloaded and are registered and verified in the system.