[radlad]

IMO, Zelle qualifies as a terrible 3rd party app...

My landlord takes payment via Zelle, and I tried to setup a payment from Discover but it told me that my limit was something ridiculously low like $500. I called to ask them to increase it and they said they were unable to.

Meanwhile, I can send huge amounts from my Ally bank account with Zelle...

[dboreham]

This is all a scam to force low-volume customers to use costly wire transfers.

[orangepurple]

Even those wire transfers are not instantaneous. They often don't get sent on weekends and you have to wait hours. Sometimes days like in the case of Synchrony bank. You have to call customer service to initiate a wire from them too. What a shit show.

Meanwhile, iDEAL exists for so long and its effortless. Just not for Americans. https://dutchreview.com/expat/financial/what-is-ideal/

[gs17]

My landlord also wants Zelle. My bank limits it to $1000 per day, but even if I was willing to pay over multiple days, Zelle will not deliver to their account. They also said they can't increase the limit, and can't tell me what the other issue is. My girlfriend is at a different bank, with both no limit and the payments actually go through. I Zelle her my half of the rent and it "works".

I really need to switch banks.

[lotsofpulp]

Sounds like your bank (Discover) is restricting you from transferring a certain amount of money. Why would you hold that against Zelle?

[woodruffw]

Zelle's job is arguably to abstract over banks; the fact that they pretend to do instant settlement by using debit transactions (which are then subject to all kinds of weird per-bank and per-network limitations) means that they fail at this basic task.

[lotsofpulp]

Isn't Zelle one network already, that the big banks got together and made to provide a better experience than ACH?

Presumably, the limits are set by each bank (for their own customers). For example, BoA has these:

https://www.bankofamerica.com/online-banking/zelle-transfer-...

There is no limit to receive, but if you want different limits for sending, then perhaps you should change banks? Although, the above limits seem pretty generous for an instant, non reversible transfer of money.

If you want to instantly transfer more than, say, $15k, then presumably you would want more reversibility.

[woodruffw]

> Isn't Zelle one network already, that the big banks got together and made to provide a better experience than ACH?

Zelle is lying when it says that it's a "network." All it does is shoot debit payments between supported banks; it's not doing any settlement on its own. The fact that it can be pushed around/constrained by each bank shows this.

> There is no limit to receive, but if you want different limits for sending, then perhaps you should change banks? Although, the above limits seem pretty generous for an instant, non reversible transfer of money.

I bank with a large investment bank that otherwise has excellent service (as in, "a human picks up the phone anytime of day" levels of service). I'm not going to drop them because Zelle fails to abstract over them correctly; every other third party payment app does this correctly.

> If you want to instantly transfer more than, say, $15k, then presumably you would want more reversibility.

My bank's Zelle limit is well below $15k per month, not even day. And to be clear: I don't personally care about instant settlement; I'm forced to use Zelle.

[adrr]

Zelle doesn't control what limits your bank puts around electronic transfers. My bank let's me do $5k a day on zelle.

[happymellon]

Because Zelle chose to use Visa and MasterCard.

Why would you hold it against Discover to prefer to not use Visa and MasterCard networks?