Zelle and Venmo Comparison
Zelle and Venmo differ in features. Zelle transfers money between bank accounts instantly with no fee. Venmo charges for instant transfers. Venmo holds funds while Zelle offers basic transfers. Both prioritize security but approaches differ.
- Zelle provides cheaper and more convenient transfers unlike Venmo and Cash App.
- Zelle happens instantly while Venmo transfers take one to three days unless you pay a fee.
- The difference is Zelle has zero fees while Venmo has free next day transfers or instant for a 1% fee.
- Zelle lacks fraud protection for authorized payments. You have no recourse if unpaid.
- Venmo allows users to transfer easily between friends with emojis. Its two-step authentication provides extra security.
Security Comparison
Venmo provides encryption for safe transactions. Users control profile access with two-factor authentication.
Zelle seems more secure, backed by major banks. People cite it makes them “feel more secure”. Immediate transfers and no social feed are prominent reasons some prefer Zelle.
Venmo Features and Convenience
Venmo can hold transferred money. You can spend, send or transfer Venmo money to your bank. It offers a social, interactive way to split expenses.
Venmo can be a “parking place” for cash. You can spend, send or transfer Venmo money to your bank. It offers a social, interactive way to split expenses.