I like Zelle, but this is not comparable to the system I've used in the UK.
- Limits how much you can send
- Identity is based on email or phone number (what?!) that then needs to be managed/tied to the bank account. If you switch banks or whatever, you need to re-active with the new bank.
- For awhile, I could only associated one email with one account in Chase (despite having 4 checking accounts for business, etc.)
- Recipient also needs a Zelle account setup.
UK system is simple: give me your sort code + account #. Done.
- Limits how much you can send
- Identity is based on email or phone number (what?!) that then needs to be managed/tied to the bank account. If you switch banks or whatever, you need to re-active with the new bank.
- For awhile, I could only associated one email with one account in Chase (despite having 4 checking accounts for business, etc.)
- Recipient also needs a Zelle account setup.
UK system is simple: give me your sort code + account #. Done.