Yes. PNC customers can send money domestically with Zelle, a peer-to-peer payment service, using the mobile app. Here's what you need to do. If you have already enrolled with Zelle, you do not need to take any further action. The money will move directly into your bank account associated with your. Over the past year, PNC has introduced new commercial payment options Tokenized Business-to-Consumer Payments via Zelle via email or text message without having to obtain or maintain customer bank account information. or as recommendations to engage in any specific transaction, and does not purport to be.
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: Does pnc bank have zelle
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Does pnc bank have zelle -
To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here. PNC's connection issue stems from new security measures that prevent data aggregators like Plaid, which Venmo uses, from accessing its clients' account and routing numbers.
PNC clients can reportedly circumvent this issue and still use Venmo by manually inputting their account information, which can take one to two days, and the bank has requested Plaid and other aggregators make adjustments to meet its security requirements, per The WSJ.
This squabble pits Venmo's and Zelle's key strengths — Venmo's popularity with consumers and Zelle's network of financial institutions FIs — against each other. PNC's move to promote Zelle as an alternative to Venmo makes these strengths particularly important because it seems the bank is trying to leverage Zelle's tie to FIs to overcome Venmo's popularity. Efforts from banks to push consumers toward Zelle rather than Venmo, whether they're intentional or not, could benefit them or backfire.
Banks' clients may begin using Zelle if Venmo becomes complicated to connect with. But some consumers may be willing to leave a bank or open another account elsewhere to be able to use Venmo easily.
And considering Venmo has added a debit card and other financial offerings that might make it easier for consumers to lean more heavily on it, it may be well positioned to battle both banks and Zelle.
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