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Technically yes, because Zelle is just the frontend, but banks can settle between themselves via ACH if they don't have another arrangement or a RTP (real time
by pests 20d ago
Technically yes, because Zelle is just the frontend, but banks can settle between themselves via ACH if they don't have another arrangement or a RTP (real time payment) setup.
To answer the original question, because Zelle is ran by a consortium of banks, they all trust each other enough to release funds immediately and settle up overnight if need be.
- LoganDark 20d agoZelle isn't the ACH or RTP though, is what I'm saying. Zelle is the real-time notifications and accounting, but the reason every bank needs to have bespoke support is because it's each bank's job to figure out how to do the actual funds transfers in the background after Zelle payments go through.
- AdamN 20d agoI'm lovin' RTP. I've used it a few times between IBKR and Chase and it works very well, even for some hefty sums.
- toomuchtodo 6d agohttps://www.paymentsdive.com/news/rtp-fed-race-on-fast-payments/829806/ https://www.paymentsdive.com/news/rtp-fed-race-on-fast-payme...