/images/2018/01/23/navina-side-hustle-mid_MPfEDfV.jpg)
/images/2019/12/06/smart_strategies_to_save_money_on_car_insurance.jpg)
/images/2025/07/11/person_using_cell_phone_1.png)
/authors/christy_rakoczy_updated.png)
/authors/steve-miller-headshot.jpg)
Exchanging money with friends and family used to be a big hassle. If you'd gone out to eat and decided to split the check, or if your friend borrowed some cash and wanted to pay you back, you'd typically have to exchange physical money or deal with a paper check.
Payment apps like Zelle changed all that.
Zelle was started in 2017 by a company called Early Warning Services, LLC, which is co-owned by seven big banks. It allows for the instant transfer of funds to anyone just by inputting basic information such as their name and phone number — all without paying any fees.
When it was launched, Zelle integrated with some banks, but not a ton. To allow more people to transfer funds, the company launched its own Zelle® app
In October of 2024, however, the company announced that its app would be discontinued beginning April 1, 2025.
This doesn't mean Zelle is done and that you can't use it anymore. However, it does mean that now you can only use the service if your bank uses it. The good news is, there are around 2,200 banks that use Zelle (credit unions included).
Here are some of our top banks that use Zelle:
SoFi®
- SoFi® pays interest on the SoFi Checking and Savings Accounts.
- Many member benefits are available.
- Huge ATM network with over 55,000 options.1 <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.</p>
Many checking account providers don't offer interest, but SoFi does. You can earn a 0.50% APY on checking account balances with direct deposit and up to 3.80% on savings with direct deposit2 <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> 3 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p> . This makes it easier for you to grow your money quickly over time, although you do need to either make a qualifying direct deposit or maintain a certain minimum daily balance to qualify for the best rates.
SoFi is an online-only financial service provider, so there are no physical locations, but the company does offer a host of member benefits, including free financial planning advice, access to an exclusive online community, discounts on home loans, and even great deals on SoFi Travel.
- Earn interest, even on checking accounts.
- Access a full array of financial products, including student loans, personal loans, home equity loans, investment products, credit cards, and more.
- The account has no monthly maintenance fee.4 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
- High direct deposit requirements to earn the best rates
- No brick-and-mortar locations or in-person support, so depositing cash is difficult
- Overdraft coverage is more limited than some competitors.5 <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p>
Member FDIC6 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
Visit SoFi Checking and Savings | Read our SoFi Checking and Savings review
U.S. Bank
- U.S. Bank offers interest on checking accounts.
- There's a $25 minimum deposit required.
- They provide in-person and online support.
Although it doesn't have "no minimum" deposit requirements like some banks do, U.S. Bank's minimum deposit requirement is a relatively affordable $25. U.S. Bank also stands apart from other banks by offering both in-person and online support, which is ideal if you prefer flexibility in how you get help.
Unfortunately, U.S. Bank has limited account choices, and some account fees can't be waived if you sign up for the Safe Debit Account. Still, if you are satisfied with one of the two accounts on offer and like being able to visit a bank branch, U.S. Bank may be an ideal choice.
- Access to local in-person support options
- Generous overdraft protection and forgiveness program
- Minimum $25 opening balance
- Fewer choices of account options than many competitors
- $4.95 monthly fee for a Safe Debit account, which can't be waived
- Available in only a limited number of states
Visit U.S. Bank Smartly® Checking | Read our U.S. Bank Smartly® Checking review
Chase
- Chase has more bank branches than other banks.
- Chase charges account fees on checking accounts unless you qualify for a waiver or exception.
- Accounts earn 0.01% (as of 04/04/25) APY on savings and no interest on checking accounts.
Chase offers many more options for in-person support than other banks on this list, with more than 4,700 branches nationwide. It also offers a full array of checking account options for children to get started learning about money, which is a huge benefit for kids and adults alike.
In addition to offering a choice of multiple checking account tiers, each with their own fees and perks, Chase also provides a wide variety of financial products to take advantage of, a top-rated mobile app, and a large ATM network to make accessing funds easy.
- Many options for in-person support nationwide
- Multiple checking account options to choose from, including student checking and Private Client checking for high-net-worth individuals
- Limited protection from overdrafts7 <p>With Chase Overdraft Assist℠, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.</p>
- Fees on all accounts unless you meet waiver requirements or have a kids' account with a qualifying parent account8 <p>$15 Monthly Service Fee OR $0 with one of the following, each monthly statement period: </p> <p>Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment network, or (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network,</p> <p> OR a balance at the beginning of each day of $1,500 or more in this account,</p> <p> OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.</p>
- No interest on checking accounts and very low APY on savings accounts
Read our Chase review
Bank of America
- Bank of America offers a full array of financial products.
- You can earn Preferred Rewards status to boost credit card rewards and more.
- A full-featured mobile app allows locking/unlocking accounts, alerts, and more.
Bank of America is an ideal choice if you're looking for the best of both worlds when it comes to both digital and in-person support. The bank has branches nationwide, a large ATM network with thousands of fee-free ATMs, and earns top ratings on its full-featured mobile app.
Where Bank of America really shines, though, is its loyalty rewards.
You can earn Preferred Status once you have at least $20,000 invested across Bank of America or Merrill Investment accounts. Earning status comes with generous perks, including boosted credit card rewards and discounts on other financial products. If you want to do all your banking and investing in one place, Bank of America's rewards program can't be beat.
- Generous Preferred Rewards program encourages customer loyalty
- Multiple support options, including in-person and mobile support
- Hefty sign-up bonus for new customers
- Monthly fees for all accounts (unless you meet the requirements to waive them)
- Minimum deposit requirements of at least $25 on all accounts9 <p>Minimum opening deposit: $25 for Bank of America Advantage SafeBalance Banking®, $100 for Bank of America Advantage Plus Banking ® and Bank of America Advantage Relationship Banking®. </p>
- Very low annual percentage yield (APY) on savings accounts
Read our Bank of America Advantage Banking review
CIT Bank
- Customers earn 0.25% (as of June 12, 2025) APY on checking accounts with a $25,000 minimum balance.
- A $100 minimum balance is required to open an account.
- CIT charges no ATM fees and offers up to $30 in reimbursement for foreign ATM fees.
If you have a good amount of money you want to keep in your bank account — and don't mind an online-only arrangement — CIT Bank is the place for you. Customers with a minimum balance of $25,000 will benefit from a 0.25% (as of June 12, 2025) APY on their checking account, which is generous, since many other banks pay no interest at all on checking accounts.
Don't have quite that much? You'll still get 0.10% (as of 03/20/25) APY. You do need to open your account with a minimum $100 deposit, though, so if you don't have a lot of cash, a different bank may be a better bet.
The good news is, you can access your money easily and at little cost since CIT Bank will reimburse up to $30 a month in other banks' ATM fees, making it exceptionally easy to get ahold of your funds no matter where you are.
If you're in the market for a savings account as well, CIT Bank Platinum Savings offers a 3.85% APY on balances, so you could earn interest on both checking and savings.10 <p>Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of Sep. 23 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.</p>
- Earn interest on checking and savings account balances
- Up to $30 in other banks' ATM fees reimbursed monthly
- No monthly maintenance fees, overdraft fees, or fees for incoming wire transfers
- $100 deposit required to open an account is higher than most competitors
- Minimum of $25,000 needed to get the highest APY on your checking account
- Limited financial products on offer so you may not get all your banking needs met in one place
Visit CIT Bank Platinum Savings | Read our CIT Bank Platinum savings review
Alternatives to Zelle
If you read any Zelle review, you'll see that the company has many devoted followers. The good news is, you can still use Zelle if you pick the right bank.
However, if you prefer a standalone app to transfer cash, or your bank doesn't use Zelle and you don't want to switch banks, there are plenty of Zelle alternatives to choose from.
Cash App
Cash App is similar to Zelle in that it allows fast and easy funds transfers without having to go through a long process to transfer money to another bank. You can just enter a phone number, email, or $cashtag and can add friends and family as contacts to pay them effortlessly.
Cash App does more than just allow you to move funds around, though. You can use it as a banking alternative — and one with no fees at that. Cash App allows you to deposit paychecks, access cash via a debit card, save your money in Cash App savings, and buy investments, including Bitcoin. You can even send money to someone without a bank account.
While Cash App is convenient and its fee-free features are nice, you should know the app's operator was recently ordered to pay $175 million, due to weak security protocols. The app has been ordered to fix the issues.
Visit Cash App | Learn more in our Cash App review
Venmo
When comparing Cash App vs. Venmo, there are some major similarities. For example, both services allow you to deposit your paycheck into the app, as well as to transfer money seamlessly; with Venmo, you just need to know someone's Venmo account details.
Venmo charges no fees to sign up, send money, or maintain a monthly account, although you do pay a 3% fee if you use a linked credit card. You can also split up group payments with Venmo Group, which makes sharing recurring costs simple, as you just create a group, add expenses, adjust for each member's share, and hit Tap to Pay.
Venmo offers a debit card as well and has a standalone app for transferring funds, which Zelle no longer does.
FAQs
What banks can you use Zelle with?
Zelle is available in more than 2,200 banking apps across the U.S. You can see a comprehensive list at zellepay.com.
Does Cash App have Zelle?
Cash App is a standalone money transfer service. You do not need to use Zelle with Cash App, as it has its own money transfer feature.
Is Zelle shutting down?
Zelle is not shutting down. You can still use the service through participating banks. The standalone Zelle app, however, did shut down on April 1, 2025.
Bottom line
If you want to make sure you retain access to Zelle, now that the payment company's app is shut down, check out the banks above that still use this service.
You may find a bank that's offering you better perks than your current financial institution — even beyond Zelle access — so it's worth taking a look at these and more of the best banks to find one that works for you.
/images/2024/07/31/sofi_logo_-_cropped.png){kind=logo}
