Zelle is an American digital payments network operated by a private financial services company. The service is owned by several major banking institutions, including Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo.
The platform allows registered users to electronically transfer funds from their bank accounts to other registered users via a mobile device or the website of a participating financial institution. These transactions are typically completed within minutes. While there is currently no fee for users to perform these transfers, participating banking institutions are charged a fee per transaction.