His blog, KP Talks, at is praised as one of the top marketing and technology blogs in the industry. Keith is an accomplished keynote speaker, visionary, and marketing & tech innovator. This article originally appeared at Īnyone can reach out to me and get my help. Of course for business, American Express wins, hands down! But on the casual, PayPal is the winner in my house. It looks like PayPal is going to be the winner for online transactions with family and friends. He said, he’s seen too many reports in the last few months of these fraudulent transactions from his customers. My banker recommended I not setup Zelle again on the new accounts. They both get money out of your bank account or credit card and into someone else’s. Ultimately, Venmo and Paypal do the same thing. Now the fun begins - reestablishing direct deposits, setting up new bill pay processes, etc., etc., etc. Paypal, we used two full-membership accounts to examine the user interface, transaction process, features, fees, and balance transfers. He got me straight in the end, but man, what a pain - deleted checking account, deleted Zelle account, inactivated debit card, then reestablished and recreated them all. I spent 1-1/2 hours in the bank yesterday with my guy. Some were caught by the bank’s fraud protection system, but some went through and withdrew the funds from my account. Paypal withdrawals can take from 3-5 days. Withdrawing money to your bank is faster with Venmo, which only takes 1-3 days. Venmo has a transaction limit of 4,999.99 Paypal only limits transactions at 10,000. Seven fraudulent Zelle transactions hit my bank account. No fee for debit card payments with Venmo Paypal charges 2.9 plus a 0.30 fixed charge. That means security and comfort, right? Yea, that’s what I thought.Įnter July 4th weekend. Venmo is a social payments service to make and share payments with friends, family, and businesses in the United States. There are several pros to Zelle over PayPal and Venmo including no fees and immediate transfer, but the kicker is that Zelle is associated directly with our banks. Trying to decide between various software apps can be overwhelming and can be more stressful when financial transactions come into the picture.įor quite some time, I’ve been relying on Zelle to transfer money to friends and family when necessary.
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