Join Us Friday, April 4

Zelle network ended cash transfer services on its standalone application Tuesday, redirecting users to the over 2,200 banks and credit unions already offering its services instead.

When attempting to sign in on the app, users are met with a message stating it’s “no longer available for sending and receiving money.”

TRADING APP TRACKS PORTFOLIOS OF FAMOUS POLITICIANS AND INVESTMENT MANAGERS LIKE PELOSI AND BUFFETT

“You will be able to log in until August 11, 2025,” the pop-up continues, “but not send or receive money. To continue using Zelle®, please enroll through one of the more than 2,200 mobile banking apps that offer Zelle®.”

The news doesn’t come as a surprise. In fact, it was the prevalence of financial institutions offering Zelle’s services on their own platforms that drove users away from the standalone app, the company noted in an Oct. 31 release — and that was the reason they elected to pull the plug on it. 

Only 2% of Zelle users were still making cash transfers through the standalone app as of Tuesday. The vast majority access the payment network through their preferred financial institutions.

AMAZON MAKES BID TO BUY TIKTOK AS DEADLINE LOOMS

Despite no longer being usable for financial transactions, the Zelle app remains available and accessible. However, it will be spending the rest of its lifespan as a consumer education platform and directory of banking apps that offer its services.

Zelle popup

Launched in 2017, Zelle quickly became one of the largest payment-processing apps on the market, with a user base north of 151 million people. 

Most of its users, who already access Zelle through online banking, will be unaffected by the app’s shutdown, the company noted in the October release.

Read the full article here

Share.
Leave A Reply

Exit mobile version