Does Chime Work with Zelle? Step-by-Step Guide 2023
Mobile banking apps are extremely popular in the US right now, as it makes banking and transferring funds easier. You can transfer money and buy things online from the comfort of your home.
Just like any other mobile banking app, Zelle is gaining popularity among Americans very quickly. It is a very efficient method to manage your payments with only a tap of your fingers.
If you are a Zelle user and wondering does Chime work with Zelle, then this post is just for you.
What is Zelle? All About Zelle Money Transfer App
Zelle is a digital payment service company based in the United States. It was founded in 2017 and is owned by Early Warning Services. Zelle claims to be an easy and fast gateway to send and receive money from your family and friends.
Think of it as another mobile app like Venmo and Paypal. You can download the Zelle app on your mobile phone and use it as an e-wallet to transfer funds to anyone you want. All you need to know is their email address or phone number.
You can send money to your loved ones or pay a share of your rent just by clicking a button on Zelle. No matter what bank they use, if they are an authorized user of Zelle, then you can send money to them using the Zelle platform.
How to use Zelle & What Can I Do Using Zelle?
Zelle has been working hard to offer its users services so that they can move money in a matter of seconds. You do not need to stand in a queue at the bank to write a check or make a transfer, all you need is an account in Zelle and you can transfer funds within a few clicks.
Unlike Venmo, people can use Zelle directly from their banking apps. Many major banks in the US are affiliated with Zelle; therefore, you do not even have to download the Zelle app if you are using these banks’ services.
While most bank apps require you to put in an account number to transfer money, and may usually take a few business days to make the transfer. Zelle is made to eliminate this waiting period and move money directly from one bank account to another in a few minutes.
The best way to use Zelle is to download their mobile app. Then you can register for a Zelle account using your email and phone number. You also have to put in your debit card details to be able to send and receive money.
If you have a Visa or a Mastercard debit card, you can use Zelle’s services. If your bank is a participating partner to Zelle, then you can link up your bank to the Zelle app or just use your banking app to send money through Zelle.
Even if your bank is not a partner of Zelle, you can still transfer funds using the Zelle standalone app.
See the complete list of participating banks that work with Zelle here.
What is Chime & what can I do with Chime?
Chime is a financial technology company that provides banking services with their banking partners, Stride Bank, and Bancorp Bank. therefore, Chime is not a bank, it is a technology corporation that offers a mobile banking app.
Moreover, Chime does not have any physical operation, everything is online. You have to use their mobile app to make transactions online. It is one of the few financial institutions that provide a checking account without any monthly fees.
You can open two types of bank accounts in Chime, a checking account and a savings account. The Chime checking account has no monthly maintenance fee and there are no minimum balance requirements. You can send money to your friends using a checking account without any fee.
The Chime savings account has an APY of 0.50%. However, you will need a checking account to open a savings account. Chime also offers a Visa debit card that can be used in over 60000 ATMs nationwide. You can link your Chime debit card to your Google Pay or Apple Pay wallets too.
Since Chime’s operation is entirely online-based, you have to download their mobile app using the Google play store or the iOS play store.
Does Chime Work with Zelle in 2023?
Since Chime is not a bank, you might be wondering if can Chime work with Zelle. The answer is YES. Chime can be used to send money via Zelle.
However, there is a catch. Chime is not one of the participating banks of Zelle, and therefore you cannot directly use the Chime app to send money on Zelle. We have found a way around it that will make Chime work on Zelle using the Zelle app itself. Read more to find out.
How Can You Connect Chime with Zelle easily?
Even though Chime is not a physical bank and is not linked with Zelle, you can still send money from Chime bank using Zelle. For this, you will need to operate using the Zelle app. Follow the steps below to know how to Chime on Zelle.
- The first step is to download both the Chime and Zelle apps. The apps are available for free on iOS and Android.
- Open the apps and register for your Chime bank and Zelle accounts. Signing up is easy. All you need to provide is your email address and mobile number.
- Open the Zelle application and go to the “Where do you bank?” section.
- Type in Chime in the search section. However, Chime will not come up in your searches. Don’t worry as this is normal. You will then need to click on the “Don’t see your bank” tab.
- This will take you to a new page where you have to add a debit card. Enter your Chime debit card details and press “Continue”. You should already have a Chime debit card since you have already registered for a Chime account.
- Finally, choose a strong password to continue with your new Zelle account.
Now you are all set up to use your Zelle account to send money to Chime bank. Your Chime debit card is saved on the Zelle app and you can now send money from Chime with Zelle.
What is the fee for using Chime with Zelle?
Unlike other peer-to-peer payment services, Zelle does not charge a fee. This means that you can instantly send money from Chime on Zelle without any extra fees.
Interestingly, even if Zelle does not charge a transfer fee, sending money from Chime bank using Zelle is not as quick as other native banks. Since you have to use Chime bank’s debit card to send money, it may take a few business days to issue the transfer.
Are there any transfer limits on Zelle Money Transfer App?
If your bank does not offer Zelle, then the transfer limit to sending money from Zelle is only $500 per week. Therefore you can only send $500 per week from Chime bank with Zelle.
However, the participating banks that offer Zelle have different transfer limits according to each bank. For example, Ally bank has a transfer limit of $5000 per day whereas Bank of America has a limit of only $2500 daily.
Some alternatives to using Zelle with Chime
If you are still on the fence and asking will Chime work with Zelle, there are other alternatives that work just as well with Chime bank.
- Paypal
Paypal is a famous online mobile payment service that is used to send and receive money quickly and safely. Paypal allows you to make transfers using Chime. You can also make international transfers using Paypal.
- Venmo
Venmo is another peer-to-peer online app, owned by Paypal. Its services are available only in the US and therefore you cannot send money internationally.
However, Venmo can be used to send money using Chime instantly. Note that there is a small fee when you want to make instant transfers on Venmo. Normal transfers that take 1-2 business days are free of charge.
- CashApp
CashApp is just like Venmo, it is used to make quick transfers or payments to friends ad family. You can connect your Chime account in CashApp similarly as you did on Zelle. However, there is a 1.5% fee to make transfers with Chime on CashApp.
In summary
Zelle is a mobile banking app that offers a fast and efficient way to transfer money to your family and friends. It is supported by a lot of major banks in the US to help move money easier. Chime, on the other hand, is a financial institution that offers banking services using Stride and Bancorp Bank.
While Chime isn’t a physical and native bank, it is not supported by Zelle. In order to make Chime work with Zelle, you have to link your Chime debit card to the Zelle app.
Does Chime work with Zelle? Yes, it does but it will take three business days to make the transfers and the limit is only $500. You can use other mobile apps to send money on Chime such as Venmo and CashApp.
