Zelle or Venmo or ???

[Velos]

We haven't carried a checkbook in a long time and some places, believe it or not., don't take cash?? 

I have been looking into Electronic or Mobile Payment Methods (Peer to Peer payments) and wondered if any one here has used either Zelle or Venmo? Do you use it often?  Is it easy to use? any comments appreciated.

https://www.creditkarma.com/savings/i/zelle-vs-venmo-what-to-know?fbclid=IwAR3iYMR1UFWvxMnuHnqakapsyQhlMDRrdK45nhD31vpvcpMv1DdWdY4cWZA

[Kirk W]

We have started to use Apple Pay. I have received money via Zell but never sent any.

[GlennWest]

PayPal is costly to person receiving. Guy I bought from wanted me to use Zele but I decided. He stated it was lots cheaper to use and he had great service with it. I still never used it though

[Barbaraok]

We use Zelle all the time to send money to our daughter for supplies for her classroom.  And since we send money for special items they would like for birthdays and Christmas, it is so easy and not have to worry about the mail system.

[docj]

We've used both Zelle and Venmo.  No problems with either of them.

But we rarely use those to send presents to grandkids.  It's difficult to beat Amazon gift cards.

[jamtracy]

I use Venmo and Zelle daily.

Venmo you can send money through them, from your bank account or a credit card. In case you didn't know paypal owns venmo.

Zelle is bank account to bank account.

Both have worked out great for me. Like anything else in the money transfer game there is risk.

[lappir]

Sad, just sad is all I can say.

Rod

[Velos]

Found these links on another page and thought they may be of interest here to others wanting to learn about P2P services:

Consumer Reports P2P Safety Tips: https://www.youtube.com/watch?v=0T6RCVvtrgU
How Venmo Works:  https://www.youtube.com/watch?v=HJ7EBa7OZ8I
How Zelle Works:  https://www.youtube.com/watch?v=IDZa1wRsCYM

[ms60ocb]

47 minutes ago, lappir said:

Sad, just sad is all I can say.

Ditto.  Sounds to me like putting all your eggs in one basket.

Clay

[Barbaraok]

1 hour ago, lappir said:

Sad, just sad is all I can say.

Rod

What is and why?

[Barbaraok]

15 minutes ago, ms60ocb said:

Ditto.  Sounds to me like putting all your eggs in one basket.

Clay

What?

[Duane Hinkley]

I use Zelle because it’s built into my USAA banking app. I also use Apple Pay and Google Pay. 

[whj469]

We use Zelle to send money and receive money. it is offered free from our bank, Chase. it has always worked well for us and it is fast. 

[lappir]

5 hours ago, Barbaraok said:

What is and why?

business that won't accept cash. 

[TXiceman]

3 hours ago, lappir said:

business that won't accept cash. 

RV park we are in will not accept cash.  Only checks and credit card with a 3% service fee.

Ken

[Darryl&Rita]

3 hours ago, lappir said:

business that won't accept cash. 

Cash is a pain, from the business point of view. It's an asset that's hard to insure, it needs to be inventoried, deposit runs to the bank don't yield tangible returns. When compared to the percentage the Credit Card companies withhold, that customers have been conditioned to pay, cash is an inconvenience.

[Kirk W]

36 minutes ago, TXiceman said:

RV park we are in will not accept cash. 

When we first moved to TX we lived in an apartment complex until we could find and buy a house. The apartment complex would accept checks or credit cards, but no cash. They told me that the reason was that they did not bond their employees. 

[mptjelgin]

1 hour ago, Darryl&Rita said:

Cash is a pain, from the business point of view. It's an asset that's hard to insure, it needs to be inventoried, deposit runs to the bank don't yield tangible returns. When compared to the percentage the Credit Card companies withhold, that customers have been conditioned to pay, cash is an inconvenience.

Not to mention the issue of actually handling the money. Money, especially bills, is really pretty dirty.

With the current issues related to COVID, many businesses would rather the customer handle the transaction themselves with a credit card and a card reader, or with some touchless system. 

[Ray,IN]

On 11/6/2021 at 9:19 AM, jamtracy said:

I use Venmo and Zelle daily.

Venmo you can send money through them, from your bank account or a credit card. In case you didn't know paypal owns venmo.

Zelle is bank account to bank account.

Both have worked out great for me. Like anything else in the money transfer game there is risk.

This is a direct copy N past from the Zelle terms and conditions:

"THE SERVICE IS INTENDED TO SEND MONEY TO FRIENDS, FAMILY AND OTHERS YOU TRUST. YOU SHOULD NOT USE THE SERVICE TO SEND MONEY TO RECIPIENTS WITH WHOM YOU ARE NOT FAMILIAR OR YOU DO NOT TRUST."

(to me this means both sender and recipient must have each others bank account numbers)

To me this means it should not be used to pay an RV park while traveling. In addition, the recipient must take actions to actually receive the money, it is not all that convenient.(per video link)

 

That brings up an important question; has anyone actually real ALL the Zelle terms and conditions before clicking accept?

Edited November 7, 2021 by Ray,IN

[2gypsies]

I'm just not comfortable doing financial transactions via the phone.

[LindaH]

I've used Zelle, but only to receive money.  Haven't ever tried sending money.

[jamtracy]

14 hours ago, LindaH said:

I've used Zelle, but only to receive money.  Haven't ever tried sending money.

I wish all of my transactions were incoming only!!!! LOL

[justRich]

Zelle - has worked for us many years now.

I haul our trash to the dump here and up north and both sites switched to credit / debit cards only - no cash.
And one site has the simplicity of the credit tap/touch screen device so that no hand-to-hand is no more.

 

[GlennWest]

Been long time cashless. Don't like bulky wallets. Simple card holder all I use. Don't drink soft drinks, use no vending machine. 

[Chalkie]

On 11/7/2021 at 2:54 PM, Ray,IN said:

(to me this means both sender and recipient must have each others bank account numbers)

Well, that is not true. You do not give your account number to anyone nor to you need the recipients account number. If you want to send money to someone all you need is their email address. It is up to the recipient to set up a Zelle account to receive the funds. 

Most of the Terms and Conditions in Zelle or other similar things is to make sure Zelle has no liabilities or their liability is limited to a very narrow scope. It is all lawyerese.