Millions of people download and use Zelle® and Venmo — and sometimes both — making them incredibly popular peer-to-peer mobile payment apps.
With both platforms, you can send or request funds domestically.¹ Both are easy and convenient and have safety measures built in.
Trying to compare Zelle® against Venmo? We can help with fast facts on each.
Eight fast facts about Zelle®
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Money is transferred directly to and from your bank account in minutes² for free.
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It’s free to use in the Fremont Bank mobile app or online banking.
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Your account and transaction details are not visible and stay safe with your bank.
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You cannot overdraw on your account.
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It connects directly to your bank account.
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Daily and monthly transaction limits are set by Fremont Bank for your security.
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It is FDIC insured with strict security protocols.
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It was developed by leading banks.
Remember, you can use Zelle® at more than one bank! Simply enroll your U.S. mobile number at Fremont Bank and your email address at another bank.³
Eight fast facts about Venmo
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It acts like a digital wallet. You can carry a balance in the app, but it is not insured.
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Transactions can be shared in a social manner and are set to public by default.
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You can send money instantly using Venmo balance, bank account, or credit card, but you can overdraw, which leads to usage restrictions or fees.
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Free transfers to a linked bank account can take 1-3 days. Instant transfers are available for a fee.
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You can get a debit card connected to your Venmo account.
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Weekly limits are set by Venmo based on account type and verification status.
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Security is carried out through encryption and adherence to industry standards.
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It is owned by PayPal.
Stay safer using payment apps
Whichever peer-to-peer payment app you choose, you want to ensure your transactions are as safe as possible. Remember:
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Only use these apps with friends or family you trust.
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Payments sent to incorrect recipients are not refunded.
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Keep any payment app updated because outdated versions are more easily hacked.
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When in doubt, use Zelle®.
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Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC, and are used herein under license.
1 Must have a bank account in the U.S. to use Zelle®.
2 Transactions typically occur in minutes when the recipient's email address or U.S. mobile number is already enrolled with Zelle®.
3 Zelle® should only be used to send money to friends, family, or other people you trust. If you are unsure of a recipient’s email address or U.S. mobile phone number, before using Zelle® to send money to that person, you should contact the recipient to confirm the information.
Venmo is a service of PayPal, Inc., a licensed provider of money transfer services (NMLS ID: 910457). All money transmission is provided by PayPal, Inc., pursuant to PayPal, Inc.’s licenses. © 2021 PayPal, Inc.