Does First Commonwealth Bank use Zelle?
It's easy — Zelle is already available within the First Commonwealth Bank mobile banking app! Check your app or sign-in online and follow a few simple steps to enroll with Zelle today.
Zelle is free through the FirstBank Mobile App and FirstBank Online Banking. Must have a bank account in the U.S. to use Zelle. Terms and conditions apply. To send payment requests or split payment requests to a U.S. mobile number, the mobile number must already be enrolled with Zelle.
It's easy — Zelle® is already available within the Commonwealth Credit Union mobile app!
Important: While you can typically use Zelle® with people at different banks, at least one person must have a bank in the Zelle Network in order to send and receive money.
If your bank or credit union is NOT listed, then download the Zelle® app and enroll your Visa® or Mastercard® debit card. Note: Make sure you check that the email address or phone number that you provided to the sender is enrolled with Zelle®.
However, while Zelle may appear more secure, applications like Venmo and PayPal are just as secure. All of them use data encryption to protect users against unauthorized transactions and store users' data on servers in secure locations. Venmo also offers users the ability to set a PIN code for access to the mobile app.
Using a prepaid debit card or relying on a friend or family member's account can provide a way to utilize Zelle's services. Additionally, alternative payment apps like Venmo, PayPal, Cash App, and Google Pay offer similar functionalities without the need for a bank account.
Initially, you'll use your online banking username and password to link your bank account to the Zelle® app. After you're enrolled, you'll use your Zelle® password to log into the Zelle® app. You can also use Touch ID or Fingerprint to log in if your phone offers that feature.
If your bank or credit union offers Zelle®, please contact them directly to learn more about their sending and receiving limits through Zelle®. 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.
First Commonwealth Bank has been recognized by the Federal Deposit Insurance Corporation's (FDIC) Money Smart Success Stories-Winter 2020 edition.
What banks are part of Zelle?
Zelle (/zɛl/) is a United States–based digital payments network run by a private financial services company owned by the banks Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo.
PayID® and other instant transfers
PayID transfers and most transfers made to a BSB and account number are usually processed instantly, or within a few minutes. First-time and some other transfers may be held for 24 hours though as a security measure.
FAQs. Can I send $5,000 through Zelle? Most banks have daily sending limits that are less than $5,000. You can split up a $5,000 payment into transactions on multiple days to adhere to their limits.
Zelle's daily limit typically ranges from $500 to $2,500, depending on your bank or credit union. This means you can send up to $500 to $2,500 per day using the service.
Zelle® does not report any transactions made on the Zelle Network® to the IRS, even if the total is more than $600. The law requiring certain payment networks to provide forms 1099K for information reporting does not apply to the Zelle Network®.
Your Zelle® payment will be automatically rejected when it has been awaiting approval for more than 30 days. In this case, you can either: reinitiate the payment. use another payment method, such as ACH.
Ask for the recipient's Zelle email address — not a phone number. Spotting typos in email addresses is easier (and more obvious) than identifying incorrect digits in a phone number. Remember that you don't need a Zelle business account to make and accept payments on Zelle.
You have not enrolled in Zelle.
To receive money on Zelle, you need to enroll your Zelle account with your bank or credit union. If you have not enrolled in Zelle, the payment will be returned to the sender.
How to Get Your Money Back. Zelle is processing each scam claim they receive on a case-by-case basis. If you haven't already done so, file a claim directly with Zelle through their app or by phone (844-428-8542). You'll also need to file a claim with the bank or credit union your funds were taken.
For those looking for a digital wallet that allows you to accrue and hold funds, Venmo might be the better option, as you cannot maintain a cash balance with Zelle. Additionally, payments sent through Zelle can't be canceled if the recipient is already enrolled with Zelle.
Is accepting Zelle risky?
Zelle strongly recommends that users only use the app to send payments to and receive payments from people they know and trust. Because Zelle scams are common, it's best to avoid accepting Zelle payments from strangers when selling items online.
Zelle use more than 1,800 U.S. banks and credit unions in the United States, including all of the major banks such as Bank of America, U.S Bank, Capital One, Wells Fargo Bank, Ally Bank, Citi, Truist, JPMorgan Chase, and PNC Bank, ABCO Federal Credit Union and more.
You can check to see if there's a purple "Z" next to the recipient's name; this indicates they're registered with Zelle. If that's not available, ask your recipient which item they've registered (phone or email) and if they've verified the item is linked to the deposit account they want.
More than 1,700 banks include Zelle in their banking app. Unlike many money transfer apps, Zelle does not charge a fee for instant transfers. Zelle transfers are generally secure, but the app does carry risks, including the risk of glitches at banks that can affect money transfers.
Yes, but you must use a different email address or U.S. mobile number for each bank account you enroll with Zelle®. Since this is a unique identifier that tells us where to deposit or transfer funds, you'll need a different email address or U.S. mobile number for each account you enroll with Zelle®.
