It looks like they didn’t make a decision to move, which is in effect, making a choice. If another platform emerges that works better for them, they will.

Banks use Zell but it has many flaws and experts warn against it.

Banks have their own ANSI (American National Standards Institute) security standards.

Therefore, I cannot understand why banks would use a system with flaws in it! It just doesn't make sense.

FWIW

Clark Howard hates Zelle because there is no way to get back money if it goes to the wrong person or a mistake is made elsewhere along the route.  Banks are signing people up without their knowledge.

https://clark.com/personal-finance-credit/banks-banking/zelle-things-to-know/

Showtalk said:

Clair Howard hates Zelle because there is no way to get back money if it goes to the wrong person or a mistake is made elsewhere along the route. Banks are signing people up without their knowledge.

Yet another vulnerability that can make life ore expensive and difficult.

It sounds like a major bank fraud site if you ask me.

Example:

I create a bank account at one of the banks that use that app.

I connect to Zelle using YOUR email address and YOUR phone number.

Anytime somebody wants to send you funds via Zelle by entering your email address and phone number, those monies go to my account!

I wouldn't touch it with a 10 foot or even a 100 foot pole.

Any bank that automatically connects your account to Zelle without your knowledge should be taken to court for misuse of your private account without your knowledge!

Why should you have to opt out of something you never opted in for?

And should anything happen to your account via Zelle, as the bank automatically connected your account to Zelle without your knowledge, there is no way that you should be responsible whatsoever... that would totally be the responsibility of the bank that automatically connected you!

FWIW

Yes. Thank you for quoting so I saw my typo. It should say Clark Howard.

Exactly. People are complaining and I’m hoping banks dump it soon. if not, people will switch banks if they find out. Either way, their business plan is going to fall apart.

It sounds like something the Democrats would do.

No matter what they do, everything seems to backfire on them.

The same is true for all those who went woke... and they end up going broke.

FWIW

I have no idea who made that decision. Zelle has good salespeople.