Talk:Zelle

Wiki Education Foundation-supported course assignment

This article was the subject of a Wiki Education Foundation-supported course assignment, between 25 August 2020 and 10 December 2020. Further details are available on the course page. Student editor(s): User212197. Peer reviewers: Apa5230, GFL123.

Above undated message substituted from Template:Dashboard.wikiedu.org assignment by PrimeBOT (talk) 05:26, 18 January 2022 (UTC)

News to include

• Coming this June | MK17b | (talk) 02:17, 13 June 2017 (UTC)

• Bandwagon time—this June-ish WurmWoode^T 14:28, 13 June 2017 (UTC)

References

COI edit requests

Hi! I work for a communications firm that represents Early Warning Services, the owner of clearXchange and Zelle. I have some requests for updates to this article. For clarity's sake, I'll break them out by section. I've also mocked up all the changes here, in my sandbox.

Article as a whole:

• Renaming the article from clearXchange to Zelle, as clearXchange itself has been renamed. Links on the Early Warning and Zelle disambiguation pages will also need to be updated.

Lead:

• In the beginning of the lead, replacing clearXchange, also known as Zelle, with simply Zelle and updating most mentions of clearXchange throughout the article to Zelle.
• Updating Early Warning to Early Warning Services. Still a red link, but more accurate.
• Removing "and businesses" from the first sentence of the lead, as this is inaccurate: Only individuals can send money through Zelle.
• Updating U.S. individuals to electronically transfer money from their bank account to another person's bank account to individuals to electronically transfer money from their U.S. bank account to another person's U.S. bank account for the sake of precision.
• Removing As of Dec 1, 2017, the clearXchange web interface has been discontinued. (a recent edit) as unnecessarily confusing. (Details of the transition are clarified elsewhere in the article.)
• Removing Instead, that information is held by the clearXchange service, and as technically inaccurate (the participating financial institution holds this information) and superfluous.
• Specifying "mobile" before "phone number of the payee".
• In the first paragraph, replacing To receive payments, the payee must register their bank account with clearXchange and associate it with their email address or phone number. with To receive payments, the payee must register their email address or mobile number with a Zelle-participating financial institution or the Zelle app and associate it with their bank account. for clarity.
• At the end of the first paragraph, adding When using Zelle, at least one side of the transaction (sender or receiver) must have an eligible account at a Zelle-participating bank or credit union.
• Deleting the second paragraph—

Like an ACH transfer, the service allows transactions initiated by the payer or the payee. You can send or request money from your contacts in your smartphone. Once initiated, a payment cannot be canceled, but can be reversed in case of fraud. The service's web site says that "Your recipient will generally receive the funds within 5 business days".

—which is almost entirely inaccurate. Zelle does use ACH for settlement, so the metaphor is a little awkward. And while Zelle does allow users to send "payment requests", that is not exactly the same as initiating a transaction.

• Near the end, updating

Before it was sold to Early Warning in January 2016, clearXchange was owned by a group of banks consisting of Bank of America, Capital One, JPMorgan Chase, US Bank, and Wells Fargo.

clearXchange was reported to have been rebranded as "Zelle" in August 2016, although the service has also continued to operate using the clearXchange name.

to

Before Zelle was launched in June 2017, predecessor clearXchange was available through banks including Bank of America, Capital One, JPMorgan Chase, US Bank, and Wells Fargo.

• Updating A mobile app called Zelle was released in June 2017 to A Zelle mobile app was released in September 2017
• Deleting "much" from provides much faster money transfers to maintain neutral tone.
• Replacing Transactions between accounts at financial institutions that participate in the "Zelle Network" are typically completed within minutes. with Transactions between users who are both enrolled with Zelle are typically completed within minutes.
• Removing the last sentence, However, as of June 2017, the clearXchange FAQ says that transactions may take as much as five days or longer and that no faster method is offered., as no longer relevant.

History section:

• Adding , the predecessor to Zelle, after the first mention of clearXchange for clarity's sake.
• Deleting "account-to-account", which, as I understand it, has a very specific meaning in this industry that is not applicable here.
• Deleting Until early June 2017 when a pop-up announcement and page header were added saying "clearXchange is becoming Zelle!", there was no mention of Zelle on the clearXchange official website. as non-notable.
• Combining the "In October 2015" and "In August 2016" sentences into a single paragraph to avoid several short paragraphs in a row.
• Replacing In October 2015, clearXchange was acquired by Early Warning risk management service. with In October 2015, Early Warning Services announced it was acquiring clearXchange. for accuracy.
• Replacing In June 2017, a mobile app was released using the "Zelle" name. with In September 2017, the Zelle mobile app was released. for accuracy.
• Deleting The website about Zelle says that users should register at the clearXchange website in order to use the Zelle mobile app. from end of section as no longer true.
• Adding to end of section: Early Warning has announced that all remaining "person to person" clearXchange profiles will be deactivated in December 2017. After that, clearXchange will no longer support person-to-person payments but will continue to provide payments from companies and government entities to certain customers. Once their clearXchange accounts are deactivated, former clearXchange users may enroll with Zelle through participating financial institutions or the standalone Zelle app to continue to use the service.

Service section:

• At the beginning of section, adding "almost" before "anyone with a United States bank account". (To enroll, the recipient must have an eligible debit card issued by a bank in the United States.)
• Replacing "member financial institutions" with "Zelle-participating financial institutions" for clarity.
• Replacing "through clearXchange's website" with "through the Zelle mobile app". Adding immediately after that: To register directly with the Zelle mobile app, users must enroll a supported MasterCard or Visa-branded debit card issued in connection with a U.S. bank account.
• Adding at end of first paragraph: Each email address or mobile phone number may only be actively enrolled in Zelle to receive payments at one financial institution. To register at multiple banks, users need to provide a different email address or mobile phone number for each.
• Replacing

However, as of June 2017, the clearXchange FAQ says that transactions may take as much as five days or longer and that no faster method is offered:

• Q: "When will my recipient get the payment I sent?"
  A: "Your recipient will generally receive the funds within five business days."
• Q: "I need my money faster, what can I do?"
  A: "Unfortunately we can't speed up payments. However after you set up your clearXchange profile, you typically receive the money within 1–2 business days."

In contrast, the newer website about the Zelle mobile app

with

The website for Zelle

as the information about clearXchange's processing time is no longer relevant.

Participants section:

• Replacing "on the clearXchange website" with "using the Zelle mobile app". I also think it makes sense to remove "As of June 2017".

References

I've tried to lay these out so they'll be easy to review and implement. And again, all the changes are mocked up in my sandbox. If any additional info is helpful, please let me know and I'll provide it. Due to my COI, I won't be editing the article myself. Thank you for your time and consideration! Mary Gaulke (talk) 21:43, 9 January 2018 (UTC)

Hi, thanks for your edits. Your writing seems rather well thought out, and it's refreshing to see ethical COI editing once in a while. I might look at it more thoroughly later if I get around to it, but for now, why did you remove the bit about transactions being reversible in the case of fraud? Benjamin (talk) 22:35, 9 January 2018 (UTC)

Thank you very much, Benjaminikuta. I really do strive to be a more honest and helpful COI editor. The answer to your question is that payments cannot be reversed; they can only be canceled if they are still incomplete (source). Fraud cases are handled with individual attention and there isn't any official policy documentation to point to as a source. Of course, if the removal seems egregious to you I'm happy to circle back with my client and pin down new wording that is more accurate. Thanks again! Mary Gaulke (talk) 03:41, 10 January 2018 (UTC)

I've moved the page to its new home. I think to limit confusion, it would be best if the information regarding the company as it was organized under the name clearconnect should be limited to the history section. This makes room for the new company's details to be added. I'll keep the template open to bring other editors who might wish to help with this construction process. Regards, Spintendo ᔦᔭ 19:14, 11 January 2018 (UTC)

Thanks Spintendo! To be clear, clearXchange is still operating for certain types of transactions, so Zelle and clearXchange technically coexist—it's just that for most consumers, Zelle is effectively replacing the role clearXchange played for them. Also, neither Zelle nor clearXchange is a company; both are products of Early Warning Services. Mary Gaulke (talk) 00:43, 12 January 2018 (UTC)

I disagree with the idea that historical information about clearXchange is "no longer relevant". Wikipedia is an encyclopedia. It is intended to document history, not just recent news and current offerings. —BarrelProof (talk) 18:34, 12 January 2018 (UTC)

Just checking on the status of this request. Has everything been taken care of? Or are there still some remaining issues, and if so, what are they. Please advise, thank you! Spintendo ᔦᔭ 01:04, 18 January 2018 (UTC)

Hey Spintendo, thanks for checking. Seems like there's an ongoing discussion about whether Zelle and clearXchange should have separate articles, and as a COI editor, I'm hesitant to overstep in how much I weigh in on that decision, so I've been sitting back for the past week or so to see how things pan out. Of course, I'll be happy to help with providing useful information and sources for whatever page or pages result from the discussion—just want to be respectful of other editors' opinions here. Mary Gaulke (talk) 21:54, 18 January 2018 (UTC)

Spintendo ᔦᔭ 00:09, 19 January 2018 (UTC)

I don't know whether there would really be enough ongoing interest in clearXchange to maintain a good-quality separate article about it. That might depend on what happens to clearXchange in the future. The article gives the impression that clearXchange is now just a remnant, but it still exists as a separate offering. It's not clear to me why Zelle was created as a separate service and clearXchange continues to exist. If they just wanted to do business as a new name for marketing reasons, that would presumably be easier to accomplish without disabling all clearXchange P2P accounts and launching a separate new service. —BarrelProof (talk) 12:05, 1 February 2018 (UTC)

Any real connection?

Is there any real connection between the older "clearXchange" service and the newer "Zelle" service, other than the ownership of the services and perhaps a marketing campaign? Currently the article says "Once their clearXchange accounts are deactivated, former clearXchange users may enroll with Zelle." OK. I suppose that is true. But they may also not enroll with Zelle. And people who did not have clearXchange accounts may also enroll with Zelle. And people who were enrolled with clearXchange may also just go enroll in something else that's not Zelle – e.g., they may enroll with Venmo. Maybe they were already enrolled with Venmo. Why should there be a presumption that they should enroll with Zelle instead of with something else? I know the company that owns the two services would like to encourage them to sign up for Zelle, but there's no automatic transfer of user accounts from clearXchange to Zelle, right? Those are just two different services, aren't they? It's not a renaming of the same service – the user needs to take explicit action if they want to sign up for the new, different service. One service is deactivating its users' accounts. Those people can just go away, or they can sign up (or not sign up) for any other payment transfer service they want to, just like anyone who had not signed up for clearXchange. Am I missing something? Perhaps, instead of one article that talks about both topics, there should just be two separate articles – one about clearXchange and one about Zelle. The article says Zelle was "previously known as clearXchange", but it wasn't. Zelle is a different offering, and clearXchange is something that continues to exist in some form. Or perhaps the title of the article should be "Early Warning Services", the name of the company that owns the two service offerings. —BarrelProof (talk) 04:01, 12 January 2018 (UTC)

I saw we create a new article for Zelle, leave the old one for clearXchange and then add a passing mention in each such as "Zelle evolved from the companies previous service called clearXchange" etc. If we take this route this page should really be moved back and a new one started for Zelle for history and attribution reasons. EoRdE6^{(Come Talk to Me!)} 23:10, 12 January 2018 (UTC)

Missing information about how the system works

Can a payee request a payment (i.e., send a bill to a payer) within the system? Can a transfer (e.g. an accidental one) be cancelled/rescinded? (In Venmo, a payment can be canceled before it is finalized, and this feature has been used by fraudsters.) —BarrelProof (talk) 07:09, 12 January 2018 (UTC)

Yes a payee can request, no cancellations as far as I can tell. Need sources for this information. EoRdE6^{(Come Talk to Me!)} 23:10, 12 January 2018 (UTC)

Revised COI edit request

Hi all, this article has changed A LOT since I posted my previous edit request a few weeks ago. I'm still pondering how best to fit the components together, but how do we feel about starting with adding back in the Service section, with some updates? This was a big component of the old clearXchange article and I think it would still be helpful here.

== Service ==

Zelle enables users to send money to almost anyone with a United States bank account. Users access the network within the websites and apps of Zelle-participating financial institutions, and through the Zelle mobile app. To register directly with the Zelle mobile app, users must enroll a supported MasterCard or Visa-branded debit card issued in connection with a U.S. bank account. The network connects with existing bank accounts, so consumers do not need to fund a separate account to use the service. Only the recipient's email address or mobile number is needed to send money directly from bank account to bank account. Each email address or mobile phone number may only be actively enrolled in Zelle to receive payments at one financial institution. To register at multiple banks, users need to provide a different email address or mobile phone number for each.

Zelle offers person-to-person (P2P), business-to-consumer (B2C), and government-to-consumer (G2C) payments.

In 2015, clearXchange announced the availability of a real-time payment system.

The website for Zelle that was launched in June 2017 says that "Transactions made between financial institutions in the Zelle Network typically complete within minutes. If your recipient does not have access to Zelle through their bank or credit union, transactions could take between 1 and 3 days to complete."

References

NB: All the ref names are currently in use in the live article.

Tagging Spintendo, Benjaminikuta, BarrelProof and EoRdE6 since you've worked on or discussed the article recently. What do you think?

Thanks for your time, all. Mary Gaulke (talk) 21:14, 31 January 2018 (UTC)

Y The content has since been integrated into the article, with some changes. In particular, the wording above contained some confusion between clearXchange and Zelle, which are two different things. The first sentence was also a bit imprecise and had a somewhat "salesmanship" tone. —BarrelProof (talk) 11:41, 1 February 2018 (UTC)

Thank you, BarrelProof. I apologize, but one detail has changed since I first drafted this, at the very end: The website for Zelle that was launched in June 2017 says that "Transactions made between financial institutions in the Zelle Network typically complete within minutes. If your recipient does not have access to Zelle through their bank or credit union, transactions could take between 1 and 3 days to complete."

This is no longer accurate. Payment timing is the same for participant vs. non-participant bank accounts. The first payment may take up to 3 business days, regardless of in or out of network. You'll notice that the citation for those few sentences no longer contains the quoted information either. I recommend we revise to something like The website for Zelle that was launched in June 2017 says that "Transactions between enrolled Zelle users typically occur in minutes. If your recipient is not yet enrolled with Zelle, it may take between 1 and 3 business days after they enroll."

Thank you again, and sorry for the oversight on my part. Mary Gaulke (talk) 00:00, 4 February 2018 (UTC)

Y The attention to getting the details correct is appreciated. —BarrelProof (talk) 16:36, 4 February 2018 (UTC)

Thank you, thank you! Mary Gaulke (talk) 00:57, 5 February 2018 (UTC)

quick COI edit request

Hi all! As noted above, I work for a communications firm that represents Zelle. I have a tiny edit request: a couple months ago, an IP editor added SunTrust to the list of owner banks named in the article's first sentence. Per the source cited there, this is inaccurate, and SunTrust should get removed from the list. (SunTrust is a partner bank, but not an owner.) I don't want to edit the article myself due to my COI—would someone else please make the change? Thank you! Mary Gaulke (talk) 21:13, 2 August 2018 (UTC)

 Done  spintendo  16:51, 3 August 2018 (UTC)

Thanks much! Mary Gaulke (talk) 18:07, 3 August 2018 (UTC)

"Competition" with Paypal's [Clearly Inferior] Venmo Service

Only the first paragraph of this section makes any actual reference to competition between the two platforms. Based on the rest of the content, I'm going to propose that this section be retitled with the more accurate heading "Top Four Reasons Paypal's Venmo Service Obviously Sucks Compared to Zelle".

Or, y'know, the section could be tweaked to read a little less like that's the intended message. - 71.234.116.22 (talk) 23:00, 11 February 2019 (UTC)

Well, it does describe at least two advantages to Venmo:

• "Venmo is more popular, based on public awareness, opinion polling, and active engagement with users" and
• "Venmo payments can be canceled before they are finalized. This provides some ability to correct accidental payments and rescind transactions that have not proceeded to the satisfaction of the payer."

The ability to cancel a payment (e.g. an accidental payment or a payment to someone who turns out to be a fraudster) is a big advantage to the sender of the money. Of course, it's also a big disadvantage to the recipient, who cannot be assured that the money they thought they received will stay in their account.

If you have any specific suggestions about edits that need to be made, let's hear them.

—BarrelProof (talk) 04:36, 25 May 2019 (UTC)

Origin of name

The article doesn't explain where the name "Zelle" came from and what it signifies, if anything. It should. --38.49.92.241 (talk) 14:48, 20 January 2023 (UTC)