quote:

Originally posted by bendable:
Turns out that xfering $ from one bank to a different bank gets expensive fast.
Both will charge you xfer fees

Not with Zelle

quote:

Originally posted by bendable:
Turns out that xfering $ from one bank to a different bank gets expensive fast.
Both will charge you xfer fees

I've never been charged a fee using Zelle

I don't even pay a fee transferring funds from my CU to my bank...unless a want it done in a hurry (less than 3 business days)

quote:

Originally posted by bendable:

Turns out that xfering $ from one bank to a different bank gets expensive fast.
Both will charge you xfer fees

I have never been charged a fee for this.

My experience was with US bank.

Two different acct. holders and two different banks.

quote:

Originally posted by 229DAK:
Not that I care to use it, but I cannot use Zelle. It will not work for bank/credit union accounts registered in a trust. I tried once; they told me no.

Interesting. Our accounts are in trust name and I’ve had no issue at all using Zelle.

quote:

Originally posted by bendable:
My experience was with US bank.

Two different acct. holders and two different banks.

You need to find better banks.

quote:

Originally posted by bendable:
Turns out that xfering $ from one bank to a different bank gets expensive fast.
Both will charge you xfer fees

I have accounts with 4 different banks/brokerages, and routinely move money between them via ACH.

I have never paid a transfer fee.

I also sometimes transfer money to other people at other banks, using ACH or Zelle. Again, never any transfer fee.

The only time I've ever encountered a transfer fee is if I was sending a wire transfer, which is a special type of especially speedy bank transfer, and which comes with a fee. Mainly used for high dollar, international, and/or time-sensitive money transfers. Mine have involved real estate transactions.

But ACH transfers (including Zelle) are always free.


So either you were inadvertently sending wire transfers instead of ACH transfers, or your bank is taking advantage of you with fees and it's time to find a better bank.

quote:

Originally posted by bendable:
My experience was with US bank.

Two different acct. holders and two different banks.

US Bank doesn't charge for normal (ACH) transfers.

From US Bank's website at https://www.usbank.com/custome...-base/KB0070126.html

quote:

How much do external transfers cost?

It’s free! We don’t charge a fee for external transfers.

But according to their fee statement at https://www.usbank.com/dam/en/...cing-information.pdf , wire transfers specifically cost $15-$50, and they charge for both incoming and outgoing wires.

So it sounds like you were sending wires.

The easy way to avoid these fees is to just not send wires... Use the free ACH transfers instead (with Zelle being one way to do so).

Zelle is supported by ALL of the big banks. No issues provided you send the money to the correct person and phone number.

quote:

Originally posted by bendable:
Turns out that xfering $ from one bank to a different bank gets expensive fast.
Both will charge you xfer fees

Not with Zelle. It’s zero out of pocket to you. I imagine it’s because it’s just automated data entries in both accounts. The banks are either connected to each other or via the clearinghouse.

Will have to talk to my bank manager, either I misunderstood or
perhaps company policy is different.

I am now wondering if it matters depending on how
Much money is being delt with.

^^^^ If you actually used Zelle as was charged a fee, then it came from your financial institution, whatever their policy is, because Zelle itself has no usage fee.