Unfortunately I run into folks using Zelle frequently now, without other transfer options. To access Zelle I must go through my bank’s website, and they limit me to three transfers per day. It’s 2022, Venmo and Paypal and Cashapp have all set the bar for user interfaces for transferring money. Zelle is like a 90’s website from your bank. That this became the dominant paradigm for self-service inter-account transfers is pretty vexing.
@georgyo @billiegrace I've set up Zelle only so that I can pay our catsitter (after they stopped accepting PayPal)
> Zelle is a United States–based digital payments network owned by Early Warning Services, LLC, a private financial services company owned by the banks Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo.
This is similar to Hulu, were all the big studios banded together to create a great platform.
I imagine this is going to be deemed both anti-trust and anti-competitive soon, and Zelle will de-integrate and degrade like hulu did.
@billiegrace I don't know anyone that has Zelle as their only method, but it's pretty amazing that the banks adopting this squeezed out the incumbents.