Submitted by iAmTheHYPE- t3_10fh9lk in news
peterkeats t1_j507c45 wrote
Reply to comment by NAGDABBITALL in Customers report problems with Zelle transactions on their Bank of America accounts by iAmTheHYPE-
Basically doesn’t Zelle work by fronting money on your behalf? It verifies both ends, that you have cash and the account transferred to exists. It’s just the appearance of instant transfer.
Otherwise it would be a form of wiring, which is still a separate option.
This means Zelle can only transfer based on cash in hand.
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