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5 March 2023

PayPal Vs Zelle | Difference | Comparison

The main difference between PayPal and Zelle is that Zelle is a completely free service with no fees for sending or receiving money. Whereas PayPal has a very complicated fee structure with many variables. Let us discuss some more differences between PayPal Vs Zelle with the help of the comparison given below.

What is Zelle?

Zelle is the newest addition to this competitive marketplace and has gained some traction among people who had never used Venmo before. Zelle is an online service that allows you to transfer from your bank account to the bank account of another person. Early warning services, a fintech company owned by seven major Us banks, including JPMorgan Chase, Bank of America, Capital One, PNC, US bank, and well Fargo owns Zelle.

What is Paypal?

Paypal is a financial technology company that provides individuals and businesses with online payment services. It is core services revolve around electronic payments, allowing you to send money to friends or shop securely online by acting as an intermediary between people and businesses. Paypal operates in nearly every country on the planet and has an astounding 360 million+ active accounts.

Paypal Vs Zelle | Difference between Paypal and Zelle


Paypal serves as a payment processor for a variety of purposes, ranging from online vendors to commercial users, and each service has a fess. A comprehensive list of PayPal fees can be found here. In our full PayPal review, you can learn more about the overall cost of PayPal money transfer.

Zelle is a completely free service with no fees for sending or receiving money. However, make sure that the bank or financial institution linked to your Zelle account does not charge any additional fees. 

Location covered

Paypal available in over 200 countries and facilitates transfer between 25 popular foreign currencies

Zelle is only available to customers in the united states, you must have a bank account in the united states to use Zelle services. You can use Zelle alternatives to make international payments outside of the united states.

Exchange rate

Paypal charges an exchange rate margin of 3.5 to 4 % on most currency conversions, though the exact percentage is not displayed when you initiate a transfer. If PayPal is not the most cost-effective option for transferring funds, you can look into PayPal alternatives to avoid the high fees charged by PayPal.

 All Zelle transactions are completed in USD, currency exchange markups are not an option.

Transfer time

Because of the variety of payment services offered by Paypal, the transfer time of their financial services ranges from minutes to up to 5 working days. Money is transferred instantly from one Paypal account to another. Withdrawing funds from your bank account and converting them into a foreign currency, on the other hand, will take 3-5 working days.

Zelle transfers are instant and typically complete in a matter of minutes, though transfer times vary by bank.

Thanks for reading the article. Still, if you have any questions or queries in your mind on the Difference between PayPal and Zelle then please ask us in the comment section below.

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