Bank Of America Zelle Fees 2022: Everything You Need To Know

In this article, wes shall be talking about the Bank of America Zelle fees; to understand whether there is a fee involved when making transactions between Bank of America and Zelle. It is apt to know that Zelle works with most of the popular financial institutions in the United States to render excellent financial services to the users.

But does Zelle charge fees when you use it to send money? This is a pending question that we are going to be answering in this write up. However, it is important to know Bank Of America Zelle Fees because it will enable you to prepare your budget ahead of time which would invariably give you financial peace of mind.

On the other hand, do you know that from October 5, you will no longer be able to access your Zelle app because by then, Zelle will be linked directly to the Bank of America.  Hence, to continue utilizing the services offered by Zelle, all you need to do is to start using the Zelle in your Bank of America mobile app. Just click “Transfer Zelle” in your banking mobile app to get started. Meanwhile, your contact will remain unaffected and your account history will remain unchanged.

If you want to know more about Bank Of America Zelle Fees and this recent development as it concerns linking of Zelle directly to Bank of America, keep scrolling through the article

Bank Of America Zelle Fees

 

Zelle doesn’t charge fees for sending money from Zelle to Bank of America, and also, it doesn’t charge fees for sending money from Bank of America to Zelle.

It is one of the best features of Zelle because it is unlike other financial institutions which charges fees for financial transactions.

With Zelle, it is possible to transfer money to anyone with a functional bank account in the United States. 

Important Points To Note When Using Zelle To Transact Business With Bank Of America 

 

1.When transfering funds from Zelle to any Bank of America, ensure that the recipient is your close associates like a family member, friends who you are familiar with.

2. It is required that the recipient of the transfers should be enrolled into the service or the transfer must be made from a recognized Bank of America consumer deposit account to a domestic bank account or debit card.

3. The recipient has only fourteen days to enroll to enable them receive the money or the transfer will be cancelled automatically after fourteen days. Once you make the transaction with the recipient’s correct phone number or email address, the transaction will be completed within minutes. Once that is done, you will receive a mail which will contain the delivery details after you schedule the transfer.

4.If you want to request money from people who don’t have a Zelle account, that could only be possible if such a request is made within the United States.

Recent Development For Bank Of America Zelle

 

Did you know that from October 5, you will no longer be able to access the Zelle app because by then, Zelle will be linked directly to Bank of America. What this means is that all the financial transactions with Zelle will be carried out within your bank of America mobile app or via online banking before you can send or receive money.

However, there is no cause for alarm because all your Zelle contacts and transaction history will not be erased but what will you do so that you won’t be left out.

For you not to be left out, you need to start using Zelle in your bank of America app. All you have to do is to login in to your account and click on ” Transfer Zelle” to get started. As I have stated earlier that after October 5, you will no longer be able to access the app. Instead, you will be directed to use the Bank of America app.

Quick Facts About Bank Of America Zelle

 

  • With Zelle app, you won’t be charged any fee for sending or receiving money
  • The transactions can be completed within few minutes
  • The only thing you need to carry out the transaction is the recipient’s U.S. phone number or their active email address
  • It is also good to know that the app is encrypted which means that your confidential financial information remains private.

Bank Of America Zelle Limit

 

S/N Bank Daily Limit ($) Monthly Limit ($)
1. Citibank Account, Basic Account and Access Account $2,000 $10,000
2. Citibank Citi Priority, Citigold and Citi Private Bank $5,000 $15,000
3. Citizens Bank $1,000 $5,000
4. PNC Bank    $1,000 $5,000
5. Ally Bank $5,000 $10,000
5. Bank of America $2,500 $20,000
7. U.S. Bank $2,500 $10,00
8. USAA $1,000 $10,000
9. Wells Fargo $2,500 $20,000
10. Chase Business Checking or Chase Private Client $5,000 $40,000
11. Chase Personal Checking $2,000 $16,000

FAQ’s

Why Can’t I Use The Zelle App Anymore?

 

Zelle is working assiduously to ensure improvement in their service delivery. However, sooner or later, the Zelle app may not be accessed by the subscribers’ because it will soon be linked directly to Bank of America. But nevertheless, all your details will be retained and you would be able to use the Bank of America mobile app instead of Zelle.

What Should I Do Now So I Can Continue Using Zelle?

 

To continue utilizing the services offered by Zelle, all you need to do is to start using the Zelle in your Bank of America app. Just click “Transfer Zelle” in your banking mobile app to get started. Meanwhile, your contact will remain unaffected and your account history will remain unchanged.

What Happens If I Don’t Do Anything?

 

If you don’t do anything till October 5 which is the deadline, you will be unable to access the Zelle app. However, to continue utilizing the services offered by Zelle, you will be required to use Zelle via your Bank of America app or online banking.

What Happens To My Pending Payments?

 

Nothing will happen to your pending payments. All the pending payments that you have sent to your associates will not be impacted.

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Why Is My Zelle Payment Pending?

 

One of the major reasons that causes Zelle payment to pend is if the recipient has not been enrolled into Zelle. If that is the case, the recipient is required to enroll into Zelle with their phone number or working email address by creating an account which would invariably help them to claim the payment.

Is There A Limit On Zelle For Bank Of America?

 

Yes, there are daily and monthly limits for most of the popular Bank of America that is affiliated with Zelle. The limit of some selected banks include U.S Bank which has daily limit of $2,500, USAA which has $1,000 daily limit, Bank of America is $3,500 daily limit etc.

Conclusion

 

In a bid to ensure that they offer you only the best financial services, Zelle will be merging to Bank of America soonest which is aimed at giving you excellent financial services. So don’t be left out.

Meanwhile, Zelle doesn’t charge fees for sending or receiving money from Bank of America.