What bank is behind zelle?

Zelle is a popular person-to-person (P2P) payment service that allows users in the United States to send and receive money quickly and easily using their mobile devices or online banking platforms. It is a standalone digital payment network that facilitates transactions between bank accounts. Zelle is often used for various purposes, such as splitting bills, paying rent, and sending money to friends and family. But what bank is behind Zelle?

Zelle is not owned or operated by a single bank. Instead, it is a collaborative effort among a consortium of major banks in the United States. The Zelle Network, as it is officially known, was formed in 2011 and originally named “ClearXchange.” It was rebranded as Zelle in 2017 to create a more cohesive and recognizable brand for the service. The Zelle Network is operated by Early Warning Services, LLC, a financial technology company that is jointly owned by the participating banks.

So, who are the banks behind Zelle? The Zelle Network is comprised of more than 1,000 financial institutions, including many of the largest banks in the United States. Some of the prominent banks that are part of the Zelle Network include:

1. Bank of America: Bank of America is one of the largest banks in the United States and is a founding member of the Zelle Network. Bank of America customers can use Zelle to send and receive money directly from their Bank of America accounts.
2. JPMorgan Chase & Co.: JPMorgan Chase & Co., commonly known as Chase, is one of the largest banks in the United States and is also a founding member of the Zelle Network. Chase customers can use Zelle to send and receive money directly from their Chase accounts.
3. Wells Fargo & Company: Wells Fargo & Company is another major bank in the United States and is also a founding member of the Zelle Network. Wells Fargo customers can use Zelle to send and receive money directly from their Wells Fargo accounts.
4. Citibank: Citibank, a subsidiary of Citigroup, is a global bank that is also part of the Zelle Network. Citibank customers can use Zelle to send and receive money directly from their Citibank accounts.
5. Capital One Financial Corporation: Capital One Financial Corporation, commonly known as Capital One, is a major bank and financial services company in the United States. Capital One is also part of the Zelle Network, allowing its customers to send and receive money using Zelle.
6. PNC Financial Services Group, Inc.: PNC Financial Services Group, Inc. is a bank holding company that operates one of the largest banks in the United States. PNC is also a member of the Zelle Network, enabling its customers to use Zelle for P2P transactions.
7. U.S. Bank: U.S. Bank, a subsidiary of U.S. Bancorp, is a prominent bank in the United States and is part of the Zelle Network. U.S. Bank customers can use Zelle to send and receive money directly from their U.S. Bank accounts.

These are just some of the many banks that are part of the Zelle Network. The consortium also includes regional and community banks, credit unions, and other financial institutions across the United States. The collaborative effort among these banks has made Zelle a widely used and trusted P2P payment service in the United States, with millions of transactions processed every day.

It’s important to note that while Zelle is backed by a consortium of banks, it operates as a separate entity from the individual banks. Zelle has its own standalone platform and mobile app, and users can send and receive money between different banks that are part of the Zelle Network. Zelle.