Zelle is a fast and safe way to send and receive funds with friends, family, and anybody else that you trust. Zelle integrates with various banks and credit unions in the US, and you only need to find it in your banking app to get started. We are used to the traditional ways of sending money using checks, wires, or ACH transfers from one bank to the other. But can I send money to Mexico with Zelle?
We will see whether the platform allows you to send money to other countries outside the US. We all know various money transfer services that allow you to move money worldwide, such as PayPal, Payoneer, and Remitly. There are lots of pros associated with international money transfers. You can easily purchase goods and services from other countries and make payments conveniently from where you are. That has revolutionized world commerce in a big way.
For your understanding, Zelle transfers are usually instant, meaning that the recipient can get the funds as soon as you send them. If there are delays, then maybe for a few minutes. The transfers usually happen online. Nowadays, almost every financial company offers online banking services to its account holders. That means you can manage your finances using your smartphone, computer, or tablet. Online banking saves a lot of time and resources for both the financial companies and the account holders.
How to open a Zelle account?
It’s easy to get started with Zele, especially if your bank or credit union supports Zelle®. You can see it in your mobile banking app or online banking, and you only need to tap on it once you have signed in to get started. There are only a few steps to follow to enroll in your Zelle® profile.
Upon registering, you can transfer money from Zelle to a bank or credit union with just a few taps. The list of the participating financial companies is long. However, you should not worry if you do not see your bank or credit union.
Zelle is still expanding and aiming to incorporate many financial companies into its system. Therefore, there is a possibility that your bank or credit union will one day support the service. The good news is that you can use Zelle® independently by downloading the app for Android or iOS from the relevant sites.
Once you download the app, you need to enroll with the service by first entering your basic contact information, such as your email address and US phone number. You also need a Visa® or Mastercard® debit card that links with a US-based account to fund your transactions.
Zelle does not accept debit cards from international deposit accounts. Again, the institution does not accept any credit cards. Therefore, you can use Zelle independently.
How to send money with Zelle?
You have seen how to get started with Zelle. The question is, how can you send money via Zelle? Can you send money internationally with Zelle? You will learn about Zelle international transfers shortly.
If you wonder how you can send money with Zelle and think it is a difficult affair, then that is not the case. The following are the steps you can use to send funds via the platform.
- Locate Zelle® in the mobile banking app of your bank. You do not need to download Zelle since it can work within your banking app. If your bank or credit union does not support Zelle®, you can download the Zelle® app to send money from there.
- Enter the email address or US phone number of the recipient. You can send money to anyone you know, whether you are a friend, college mate, parent, kid, etc.
- Enter the amount to send. If the recipient has a Zelle® account, the money will go directly into their bank, usually in minutes. If not yet enrolled, the recipient will get a notification explaining how to receive the funds.
Can I send money to Mexico with Zelle?
Zelle usually operates within the US. It has not yet started allowing international transfers. Mexico is not within the US, and thus you cannot transfer money to a bank or credit union in the country using Zelle.
If you want a service that can help you send money to international recipients, you should consider other platforms such as Payoneer, Western Union, and MoneyGram. Western Union is among the best ways to wire money internationally.
Western Union allows you to send money to numerous destinations in the world. You can send money online when you open an account or at a branch. The platform allows you to fund your account with your bank or payment card. Again, banks allow international transfers using either wire or ACH, although the transfers can take longer to complete.
How do I receive money through Zelle?
Someone, you know, says they have sent you money, and you do not know how to receive it? Since getting the money is not a complex undertaking, you do not have to worry. If you are enrolled with Zelle, there is nothing you should do to receive the funds, as they will automatically reflect on the account that links with Zelle. You can receive the money within a few minutes.
If you do not have a Zelle account, you can still receive funds from other Zelle users. You should follow the simple steps below, and you are all set.
- Click on the link sent to you.
- Select the bank or credit union that you have an account with.
- Follow the guidelines on the page to enroll and receive your money.
- If your bank or credit union does not support Zelle, you can download the Zelle® app and enroll your Visa® or Mastercard® debit card to receive the funds.
What is the limit to sending money through Zelle?
There is no specific limit that you should stick to when using Zelle with your bank or credit union. Therefore, you should contact your customer care to know the limit. However, there are limits if you are using an independent Zelle app.
Using Zelle independently, the weekly limit is $500 for sending money. The figure is fixed in that you cannot request an increase on the limit.
Can I change my bank or credit union?
If you are enrolled with Zelle in a particular financial company, it does not mean that you cannot move your Zelle account to another bank. For your understanding, Zelle cannot work with multiple banks or credit unions using the same mobile number or email address. However, you can have multiple accounts with Zelle as long as you use different phone numbers or email addresses.
To move your Zelle account to another financial company, you should contact the customer care of the financial company where you enrolled to assist you in removing Zelle from your account. Once you have removed your details, you can enroll the mobile number or email in the other bank or credit union account and start using the service.
What are the alternatives of Zelle for international transfers?
If you are very much interested in sending money internationally, we still have other options you can use. I mentioned that you could use your bank to send money internationally. However, we have other convenient platforms that you can use today, including the following.
i) PayPal
PayPay is among the cheapest ways to send money internationally. The platform operates online and allows you to send money to over 200 destinations worldwide. You can open your profile online, and once set, you can add a bank account or payment card to fund your transactions.
To send money to someone else on PayPal, you require their username, email address, or phone number. Funds arrive within minutes.
ii) Payoneer
Payoneer is almost similar to PayPal as far as its operations are concerned. The platform allows you to send and receive money from various countries. It operates online, and you can create your account using your email address, phone number, physical address, bank account, and identification document. You can send money using the recipient’s email ID.
iii) Remitly
Remitly operates from Seattle and allows you to send money to various parts of the world. The platform is best for sending money for pick up and home cash delivery. Its international transfer takes 2-3 days to complete. The platform is among the cheapest to use for your transfers.
iv) Western Union
Western Union is among the best money transfer platforms that allow you to move money internationally. It allows the recipients to receive money in their online Western Union accounts, or bank accounts or pick it up at the nearest location.
v) Wise
Wise, formerly TransferWise, is best for bank-to-bank transfers. If you are transferring money to another person in another country, you require their bank details to send them funds. The platform is among the cheapest money transfer platforms, and transfers take around two days to complete.
Bottom line
Zelle is a fast and among the safest ways to send and receive funds with friends, family, and anybody else that you trust. It integrates with various banks and credit unions, and you only need to enroll and receive money directly in your bank or credit union account.
If your financial company does not support Zelle, you can use the platform independently. You need to download the application and enroll. You cannot send money internationally with Zelle.
