What is Zelle®?

Zelle® is a fast, safe and easy way for small businesses to send, request, and receive money directly between eligible bank accounts in the U.S.¹. If your customers use Zelle® within their mobile banking app or online banking, they can send payments directly to your Wintrust Community Bank account with just your email address or U.S. mobile number. With Zelle®, payments typically arrive within minutes.¹

How do I use Zelle® with a small business account?

You can send, request, or receive money with Zelle®. To get started, please contact your banker or treasury management sales representative.

Who can I send money to with Zelle® when I have a small business bank account?

When you use Zelle® with a small business account, you can send money to other small businesses with an eligible account at a financial institution that offers Zelle® to small businesses. You can also send money to consumers who have access to Zelle® through their mobile banking app or online banking. At this time, we don’t support sending to (or receiving from) consumers who are only enrolled in the Zelle® app.

If the small business or consumer you send money to has already enrolled with Zelle® through their bank’s mobile app or online banking, the money is sent directly to their bank account and cannot be canceled. It’s important to only send money to people you trust, and always ensure you’ve used the correct email address or U.S. mobile number when sending money.

If you try to send money to a consumer enrolled in the Zelle® app, and the payment won’t go through, a message will pop up to let you know the payment cannot be completed. With small business accounts, Zelle® does not currently support sending money to users enrolled in the Zelle® app.

If you sent money to the wrong person, please immediately call our customer support team at 847-939-9050 so we can help you.

I have a small business bank account. Who can I receive payments from with Zelle®?

You can receive payments from consumers using Zelle® through their bank’s mobile app or online banking, but at this time you cannot receive payments from consumers enrolled in only the Zelle® app. You can also receive payments from other small businesses if their financial institution offers Zelle® to small businesses.

How long does it take to receive payments with Zelle®?

Once you’re enrolled with Zelle®, the money you receive is typically available within minutes.

How do I receive payments with Zelle®?

First, reach out to your banker or treasury management sales rep. After you have access to Zelle®, you should enroll your email address or U.S. mobile number with Zelle® through online banking and associate it with your small business banking account. Second, share your enrolled email address or U.S. mobile number with your customers and ask them to send you payment with Zelle® right from their banking app. You don’t need to share sensitive account details; they can send you money using your enrolled email address or U.S. mobile number to identify you. After the consumer sends you payment with Zelle®, you will receive your money directly into your enrolled bank account.

How do I request payments with Zelle®?

You can also request payments directly through online banking by clicking “Send Money With Zelle®,” selecting “Request,” entering your customer’s email address or U.S. mobile number, confirming the recipient is correct (make sure you’ve entered the correct email address or U.S. mobile number of the person or business you want to request payment from), and tapping “Request.” Payment requests to persons not already enrolled with Zelle® must be sent to an email address.

If your customer is using Zelle® through their bank’s mobile app or online banking, they’ll be able to pay you with Zelle®. You’ll receive a payment notification once your customer has sent you money in response to your request. If your customer is enrolled in the Zelle® app, they will not be able to send you money with Zelle®, and you should arrange a different payment method.

How do I tell my customers that they can pay me with Zelle®?

There are a few ways you can encourage your customers to pay you with Zelle®.

• Tell customers verbally that you accept payments with Zelle® and that they can easily send you money from their banking app.
• Include it on an invoice. We recommend adding “I accept payments with Zelle®” or “Pay me with Zelle®.”
• Use Zelle® to request money¹ from your customers (which will send them a notification telling them you’ve requested payment with Zelle®).
• Add pre-approved Zelle® content to your business website: zellepay.com/smallbusiness-toolkit.

Please note that you’ll only be able to receive payments from consumers using Zelle® through their financial institution’s mobile banking app or online banking. You will not be able to receive payments from consumers enrolled in only the Zelle® app.

Does Zelle® or Wintrust offer purchase protection?

Neither Wintrust nor Zelle® offers a protection program to reimburse costs on any authorized payments made with Zelle® – for example, if you do not receive the item you paid for, or the item is not as described or as you expected.

Are there any fees to use Zelle® with a small business account at Wintrust?

No, Wintrust does not charge a fee to use Zelle® with a small business account. However, for the Entrepreneur Checking, Business Community Checking and Have-It-All Checking accounts, Zelle® transactions will count towards the number of free transactions for the month. If you exceed the number of allowed transactions for your account, a fee will apply for each additional Zelle® payment sent or received.
 

I want to use Zelle® to send and receive money with friends from my personal bank account and receive payments for my small business from my business account. Are there any differences in the experience?

Whether you use Zelle® with a business or a consumer account, Zelle® uses the same network to initiate payments to small businesses and consumers. Consumers who are already enrolled with Zelle® through their mobile banking app or online banking don’t need to do anything different to send money to a small business, they use the existing Zelle® experience they already know and trust within their bank’s mobile app or online banking. However, the experience is slightly different for small businesses, as small businesses cannot currently send payments to or receive payments from consumers who are only enrolled in the Zelle® app.

I already use Zelle® through my personal bank account. How do I enroll to use Zelle® with my small business bank account?

To get started, please contact your banker or treasury management sales representative. To enroll a small business bank account with Zelle® , you must use a different U.S. mobile number or email address than the one you used to enroll your personal bank account with Zelle®. For example, name@email.com would be connected to your personal checking account, and 555-555-1234 would be connected to your small business account.

Who should I call if I have questions or need help?

Please call Wintrust Treasury Management at 847-939-9050 so we can help you.

Can I cancel a payment if I sent money using Zelle®?

You can only cancel a payment if the small business or consumer you sent money to hasn’t yet enrolled with Zelle®. To check whether the payment is still pending because the recipient hasn’t yet enrolled, you can go to your activity page, choose the payment you want to cancel, and then select “Cancel This Payment.”

If you send money to a small business or consumer already enrolled with Zelle® through their bank or credit union’s mobile app or online banking, the money is sent directly to their bank account and cannot be canceled. This is why it’s important to only send money to people you trust and always ensure you’ve used the correct email address or U.S. mobile number when sending money.

If you sent money to the wrong person, please immediately call our customer support team at 847-939-9050 so we can help you.