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Ask HN: How Does Zelle Work?

13 pointsby michaelrknover 2 years ago
I'm curious: Does it use ACH behind the scenes? The RTP network? Some other system? Thanks to anybody who can satisfy my curiosity!

4 comments

bell-cotover 2 years ago
Advice: Avoid paying via Zelle. At $Job, we are a long-time customer of one of the large banks which <i>owns</i> Zelle. Said bank told us to avoid paying for anything via Zelle, unless we had <i>very</i> clear &amp; easy legal recourse in case of fraud. The did not quite say &quot;Zelle is only a better payment solution if you are cheating people&quot;...but they came fairly close.
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denimnerd42over 2 years ago
Depends on the implementation. Initially used ACH for settlement and now they are moving towards RTP. (<a href="https:&#x2F;&#x2F;www.earlywarning.com&#x2F;press-release&#x2F;early-warning-services-clearing-house-enable-zelle-payments" rel="nofollow">https:&#x2F;&#x2F;www.earlywarning.com&#x2F;press-release&#x2F;early-warning-ser...</a>)
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yuppie_scumover 2 years ago
The banks just venmo each other afterwards to settle up.
solarmistover 2 years ago
patio11 could probably write an entire essay on this. (In fact, he might have, just not named it as such.)
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