The FINANCIAL -- Wells Fargo & Company announced on June 12 that beginning June 24, its 28 million mobile and online customers will have access to Zelle person-to-person (P2P) payments through Wells Fargo Online and Wells Fargo Mobile.
Zelle allows customers to send and receive payments with almost anyone with a U.S. bank account, using only the recipient’s registered mobile phone number or email address. Funds sent through Zelle are typically available in the recipient’s bank account within minutes – ready to spend, withdraw, or transfer, according to Wells Fargo.
“The rollout of Zelle at banks across the country represents an advance in the speed, connectivity and security of P2P payments, and we’re excited to bring Zelle to our 28 million digital customers starting June 24,” said Brett Pitts, head of digital for Wells Fargo virtual channels. “As we’ve worked with other banks to develop and roll out Zelle, we’ve already seen how much our customers love the ability to safely and quickly send money to millions of people across the country, all within the mobile and online experiences they already use. We’re so excited for more of our customers to discover Zelle in the weeks and months ahead.”
As of June 24, Wells Fargo customers will be able to use Zelle to send, receive, and request money with mobile banking consumers across the U.S. Zelle will replace the Wells Fargo SurePay service on all of the bank’s platforms. According to Early Warning Services, the Zelle Network handled more than 51 million transactions in just the first quarter of 2017, representing nearly $16 billion in payments. Wells Fargo customers initiated approximately 23% of that volume, sending more than $3.7 billion through the Zelle Network in the first quarter alone.
Wells Fargo Mobile is the company’s fastest growing channel, with more than 20 million active customers. This year, Keynote awarded Wells Fargo first place on its biannual Mobile Banking Scorecard, citing the bank’s leadership in digital functionality, quality and availability, ease of use and mobile app experiences. Additionally, Wells Fargo took first on Keynote’s recent Bank Scorecard, which cited the company’s redesigned Wells Fargo Online banking experience.