Do you want to cash out on Zelle?
Are you looking for a guide to you transfer your money using Zelle?
If you need help and looking for a guide, you have reached the right web page.
Here, we will be providing you with a guide to cash out on Zelle.
So, let’s dive right into the details without any further ado.
How to cash out on Zelle
Technically, you cannot cash out on Zelle. It is because, unlike payments app like Cash App, Zelle doesn’t hold your money. So, you do not have to cash out your money if Zelle doesn’t hold your money on their own platform.
Zelle is one of the most popular payments app in the USA. And many users like how Zelle actually operates. Zelle can be used in two different ways – with a banking app or as a standalone app.
Zelle has partnered with more than a thousand banking apps as well as credit unions. With the online banking apps, Zelle works as an integration feature, and you do not have to download Zelle’s app to enjoy the features.
Whereas, in the Zelle app, users can add their bank account and use it to transfer money to other users using their Zelle user name, email address, and even their phone number.
Zelle transfers money directly from the sender’s bank account to the recipient’s bank account. There is no other platform where money is being held. That’s why we said why the idea of Zelle cashing out is technically impossible.
But, a lot of users search for ways to cash out their bank account to another account using Zelle. And if you are looking for a guide to cash out your bank account, you are at the right place.
ALSO READ: How to delete Zelle account & close it properly
Here, we will be mentioning a guide on how you can cash out on Zelle. Proceed with step 1 and make sure to implement the steps as intended.
Step 1 – Create new Zelle account
First of all, you will be required to create a new Zelle account if you want to cash out your current bank account. It is because you cannot transfer money from one of your bank accounts to another if it is associated with the same Zelle account.
A new Zelle account will be having a new Zelle username and phone number associated with it.
Step 2 – Enroll email address & phone number
As we mentioned above, you will need to have an email address or phone number in order to use your Zelle account. But, you will have to arrange a new set of phone numbers and email addresses.
Along with creating a new account, register your phone number, email address, and other details with it.
This will be called your secondary Zelle account, and details associated with it will be a secondary phone number and email address. This makes it easier for you to understand the procedure.
Step 3 – Link new bank account
Now, you are required to link a new bank account, or we must say your secondary bank account to your secondary Zelle account.
You can link any bank account which is eligible to use with Zelle. This is the bank account where the cash-out money from your primary bank will be transferred.
Enter the details of your secondary bank account correctly to link the bank account to your new Zelle account.
Step 4 – Enter secondary Zelle account username
Now, reach out to your primary Zelle app. And initiate the cash-out procedure.
To do this, you are required to enter the secondary Zelle account username as the recipient of the payment.
You can enter the username of the secondary Zelle account and even the phone number or email address associated with it.
Step 5 – Now select the amount
In the next step of the transaction, you will be required to select the amount you want to send to your secondary bank account. And if you are to cash out your bank balance, you will have to choose the entire amount you have in your primary bank account.
On selecting the amount, you can continue to the next step.
Step 6 – Confirm cash out
Now finally, you will have to confirm the transaction.
Check the details carefully before proceeding with the payments.
And that’s it.
That’s how you can cash out on Zelle by using a different Zelle account and bank account.
You will have to create a new Zelle account if you want to cash out to your secondary bank account. You can even choose a different bank account like someone in your family member or friend, where you can hold your money.
Limit to cash out on Zelle
Well, before you proceed to cash out on Zelle, you must know that there is a limit to the money you can transfer with Zelle. There is a daily limit and monthly limit, and you can send in that limit only.
The limit also varies from bank to bank. Here, we have mentioned the daily and monthly limits for all the major banks that are supported by Zelle.
You can check out the limit below.
| Bank | Daily Limit | Monthly Limit |
|---|---|---|
| Ally Bank | $5,000 | $10,000 |
| Bank of America | $2,500 | $20,000 |
| Chase Personal Checking | $2,000 | $16,000 |
| Chase Business Checking or Chase Private Client | $5,000 | $40,000 |
| Citibank Account, Basic Account and Access Account | $2,000 | $10,000 |
| Citibank Citi Priority, Citigold and Citi Private Bank | $5,000 | $15,000 |
| Citizens Bank | $1,000 | $5,000 |
| PNC Bank | $1,000 | $5,000 |
| U.S. Bank | $2,500 | $10,000 |
| USAA | $1,000 | $10,000 |
| Wells Fargo | $2,500 | $20,000 |
If the limit for your bank is not mentioned in the list above, we will suggest you contact your bank and ask for the transfer limit.
There is no receiving limit for Zelle, so you have to ask for the limit for your sender’s bank.
How much time does cash out on Zelle take?
Cash-out on Zelle takes just a few minutes to complete. The transfer of money from bank to bank is instant. You do not have to wait for it at all. But, sometimes, if it takes more than three days, this simply means you might not have entered the correct details of the recipient.
Sometimes, the delay occurs which means that the user hasn’t enrolled with Zelle completely. Make sure to enter all the details like email address and phone number as well.
Final Words
And that’s it, ladies and gentlemen.
Here, we have included all the important details you need to know before you proceed with the procedure to cash out on Zelle.
The steps involved are very basic and can be implemented easily. But, if you still have any queries, let us know in the comments section below.
Ankit Kumar is an Engineer by profession and a blogger by passion. Over the last several years, he has written tons of articles, solving queries on Quora. He also has years of experience in investing in Cryptocurrencies, Funds, and Stocks.