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Venmo funds are held as a Venmo balance in your account for you to spend or transfer, but Venmo is not considered a bank. Zelle is a peer-to-peer app designed to transfer funds between bank accounts.
Zelle lets you send money directly between linked bank accounts free of charge, but unlike Venmo, will not “hold” money in your Zelle account. With Venmo, you don’t need to stick to bank ...
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Zelle and Venmo make sending and receiving money easy but in different ways. Compare their fees and features to help you decide which app is right for you.
Zelle: Best for fee-free transfers. ... Bank wire transfer: Best for secure payments. ... Venmo calls money transfers “sharing payments” due to the social nature of the service.
Yes, payment apps like Zelle and Venmo are safe. However, scammers often use them because it’s more difficult for you to get your money back. If you do choose to use one of these apps, only send ...
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