Selling a bike with Zelle

[jm714]

My research shows that most banks limit Zelle transactions to $3500 per day at most. I have a bike on facebook marketplace for $5750 and the guy wants to use Zelle.

Does anyone know of Zelle allowing that amount in a single transaction?

[dave thompson]

Call your bank in the A.M.

[MO Will]

Some people prefer Zelle to PayPal etc. Can the buyer not send the money over several days. I have done so in the past without issue.

[p nut]

Daily limit is set by your bank. My bank, it’s $2k per day, $16k per month.

I prefer Zelle to pp or Venmo.

[Ralph]

At my bank, it's $2000 in a 24 hour period. 7 days a week. I like Zelle.

[alexihnen]

I would highly recommend that you search Zelle payment scams. It's been a while, but the only requests I've received to pay by Zelle have been scams. I won't use it.

[prototoast]

Originally Posted by alexihnen

I would highly recommend that you search Zelle payment scams. It's been a while, but the only requests I've received to pay by Zelle have been scams. I won't use it.

But in this situation, the OP is the seller. I'm not sure the same risks apply to being paid by Zelle, as paying by Zelle.

[Ralph]

Originally Posted by alexihnen

I would highly recommend that you search Zelle payment scams. It's been a while, but the only requests I've received to pay by Zelle have been scams. I won't use it.

He's getting money, not sending money. That make it safer? I won't send money either, unless I know the person (my lawn man).

[jm714]

I'm the seller. The buyer says he can use Zelle for up to $10k a day and my bank (Wells Fargo) says they will accept that amount.

However, when my wife spoke with Wells Fargo they still advised that cash and cashiers checks are still the best way to do the deal.

[Dired]

Zelle has no seller or buyer protections. There is no possibility of a chargeback like there is with venmo or paypal. I think that you're in the clear on this as the seller.