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Do credit unions have Zelle®?
Credit Union of Southern California (CU SoCal) Members can use Zelle® through the CU SoCal Mobile Banking App. Zelle® is a fast and secure way to send and receive funds to friends, family, and people who you are interacting with to either buying or selling items and services.
At Credit Union of Southern California (CU SoCal), we make mobile banking easy!
Call 866.287.6225 today to schedule a no-obligation consultation and learn about our mortgages, home equity lines of credit, auto loans, personal loans, checking and savings accounts, and other banking products. As a full-service financial institution, we look forward to helping you with all your banking needs.
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What is Zelle®?
Zelle® is an easy way to send money directly between almost any U.S. bank accounts, typically within minutes. With just an email address or U.S. mobile phone number, you can quickly, safely, and easily send and receive money with more people you know and trust.
Whether you're divvying up costs on a group gift, chipping in for your part of dinner out, or paying others you know and trust, all you need is the recipient's U.S. mobile number or email to send money directly to their credit union or bank account.
How does Zelle® work?
Sending and receiving money is easy and there are no fees to send or receive money from your CU SoCal Mobile App.
Sending money. To send money using Zelle®, simply select someone from your mobile device’s contacts (or add a trusted recipient’s email address or U.S. mobile phone number), add the amount you’d like to send and an optional note, review your transaction, then hit “Send.” In most cases, the money is available to your recipient in minutes.
Requesting money. To request money using Zelle®, choose “Request,” select the individual from whom you’d like to request money, enter the amount you’d like to request, include an optional note, review your transaction, and hit “Request.”
Receiving money. To receive money, just share your enrolled email address or U.S. mobile phone number with a friend and ask them to send you money with Zelle®.
If you are the recipient of money, and have already enrolled with Zelle®, you do not need to take any further action. CU SoCal is a Zelle® participant, so the money will move directly into your CU SoCal account.
If you have not yet enrolled with Zelle®, log into CU SoCal’s Mobile App and select “Zelle®.” Following the prompts, enter the information requested, accept the terms and conditions, receive a verification code, enter it, and you are ready to receive the money using Zelle®.
Be sure the email address or U.S. mobile number where you received the payment notification is the one that you use to enroll with Zelle® using that email address or U.S. mobile number to ensure you receive your money.
Advantages of using Zelle®
Here are some of the advantages of using Zelle® to send and receive payments:
Secure. Financial institutions that partner with use Zelle® put measures in place to ensure user security. For example, when you use Zelle® within CU SoCal’s Mobile Banking App, your information is protected with the same technology used to keep your CU SoCal accounts safe.
Transactions are fast. Payments are sent and received within minutes.
Works with most credit union and banking apps. More and more credit unions and banks are participating in the Zelle® app platform.
No recipient info needed. When someone sends money to your enrolled email address or U.S. mobile number, Zelle® looks up the email address or mobile number in its “directory” and notifies your bank of the incoming payment. If the credit union or bank participates with Zelle®, the payment goes directly into your account, while keeping your sensitive account details private.
There are no receiving limits. Some credit unions and banks may set limits on the amounts that can be received, others may not set limits. If your bank or credit union does not yet offer Zelle®, your weekly send limit is $500, and your weekly receive limit is $5,000 in the Zelle® app. Please note that you cannot request to increase or decrease your limits. If you plan to send or receive a large amount of money, check with your credit union or bank first.
FAQs
Is Zelle® safe?
Your personal information is never shared with anyone with whom you are transacting. However, because money is sent instantly it is not possible to unsend money once the transaction goes through.
Who can I send money to with Zelle®?
You can send money to anyone within the United States. Because money transfers cannot be undone, it’s safest to send money only to people who you know and trust.
Does Zelle® have any fees?
Zelle® doesn't charge a fee to send or receive money. However, you may want to confirm with your bank or credit union that there are no fees for Zelle® transactions.
Can I use Zelle® without a bank account?
No, a bank or credit union account is necessary. However, if your financial institution doesn’t participate, you may still download and use the Zelle® app.
Does Zelle® work internationally?
No, Zelle® only works within the United States.
Is Zelle® safer than Venmo or PayPal?
Yes, Zelle® is as safe as Venmo and PayPal. Personal information is encrypted and never shared with the other transaction participant.
Do you have to pay taxes on Zelle®?
According to its website, Zelle® does not impose taxes on transactions made on its network. If payments you receive on the Zelle Network® are taxable, it is your responsibility to report them to the IRS.
How long does it take to receive money with Zelle®?
Money is typically received within minutes if the recipient is enrolled in the app.
Are all CU SoCal members eligible to use Zelle®?
No. Members are eligible to use Zelle® at CU SoCal if they are in good standing, at least 18 years of age and have a checking account.
How do I get started with Zelle®?
Mobile banking at CU SoCal is easy and safe. To get started, log into CU SoCal’s Mobile App and select “Send Money with Zelle®.” Following the prompts, enter the information requested, accept the terms and conditions, receive a verification code, enter it, and you’re ready to start sending and receiving with Zelle®.
Why savvy consumers choose CU SoCal
For over 60 years CU SoCal has been providing financial services, including mortgages, Home Equity Loans, HELOCs, car loans, personal loans, credit cards, and other banking products, to those who live, work, worship, or attend school in Orange County, Los Angeles County, Riverside County, and San Bernardino County.
Please give us a call today at 866.287.6225 today to schedule a no-obligation loan consultation with a CU SoCal Member Services specialist.
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