Zelle

Cost

Free (but check with your bank to ensure it doesn’t charge an additional fee)

Transfer speed

Instant: transactions typically occur in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle

Standout features

No need to download an extra app; Zelle is already included with most mobile banking apps

Links to accounts

Yes, to U.S. bank accounts

Availability

iOS and Android; must have U.S. bank account linked to an email address or compatible U.S. phone number

Security features

The Zelle app uses authentication and monitoring features to make your payments more secure

Pros

Fastest money-sending method (when both sender and recipient are signed up)
Compatible with hundreds of U.S. banks and credit unions

Cons

You can’t link your account to credit card to use as payment method
You can’t send money to international bank accounts
Recipients must sign up for Zelle to receive money (if the recipient doesn’t enroll within 14 days, the payment will expire, and the funds will be returned to your account)

Website: https://www.zellepay.com/