Zelle Vs Google Pay
Zelle Key Features
- Low fees
Google Pay Key Features
- Internationally renowned bank
The main difference between Zelle and Google Pay is that Google Pay adds a 1.5% fee for uploading money to the eWallet using a debit card while Zelle users are not charged for domestic transfers.
Zelle and Google Pay are mobile app-based money transfer companies. Zelle focuses on domestic transfers between US banks and the company’s unique selling point is free, instant transfers. Whereas Google Pay offers transfers to India and Singapore from the US and Europe, with plans to expand global coverage in the future. This comparison of Zelle and Google Pay will look at key features such as payment options, customer reviews, trustworthiness, transfer speed and global coverage, and we will offer alternative companies in any cases where either brand falls short of industry standards.
At a Glance
- About Zelle and Google Pay
- Which brand has lower transfer fees?
- Which brand offers better exchange rates?
- Which brand covers more locations?
- Which brand is faster?
- Which brand offers more transfer and payment options?
- What do users have to say about each brand?
- What brand offers better ease of use, accessibility, transparency & security?
- Additional features
About Zelle and Google Pay
Zelle is a domestic money transfer service that supports transfers between United States banks in their network. The main objective of Zelle is to offer an easy way to send money to friends and family, even when they do not bank with the same institutions. Zelle is unique because it is integrated into various online banking systems and transactions are executed by using account details provided by the bank. It launched 5 years ago and during that time has gained over 100 million customers. The company is owned by Early Warning Services LLC and the headquarters are in Scottsdale, Arizona.
Google Pay features a variety of digital payment functions as well as international money transfer services. A product of Google, the smartphone-based service is compatible with iOS and Android devices, and has exceeded 100 million users since 2020.
It is worth mentioning early on in this comparison that both companies offer limited global coverage: Zelle only supports domestic transfers in the US, while Google Pay international transfers are restricted to India and Singapore only, although there is mention of future plans for expansion.
Which brand has lower transfer fees?
Zelle users are not charged for domestic transfers and it is this free service that appeals most to customers. However, your bank might charge you for the transfer so you should find this out ahead of time, to determine if there will be additional costs.
Google Pay also does not charge a fee for transfers. However, there is a charge of 1.5% for using a debit card to load funds onto and from your Google Pay eWallet balance. You should consider this fee when assessing the overall cost of Google Pay.
Neither brand charges a fee for their services, however, Google Pay does impose a 1.5% fee for uploading money to the eWallet using a debit card. Since most users will use a debit card as the form of payment, the fee could be considered as a transfer fee, and therefore Zelle is the winner of this first category.
Which brand offers better exchange rates?
Zelle does not offer currency conversions because they specialize in US-based domestic transfers between USD accounts only: there are no foreign exchange mark-ups for these types of transfers.
When making an international transfer, Google Pay uses the currency of your home country, determined by the address on the account. If it is not possible to assign a currency, then Google Pay will default to USD. The company will display the currency rate before confirming the transaction. Google Pay uses rates from leading financial institutions and guarantees no markups for converting currencies.
Google Pay is the winner in this category because Zelle cannot compete since it does not offer international money transfer services. You are getting the mid-market rate when converting currencies with Google Pay, which is the most competitive offer available.
Which brand covers more locations?
Zelle is limited to domestic money transfers for customers in the United States only. Therefore, the service is not applicable if you do not live in the US and have no plans of moving there. For international money transfer options that have worldwide coverage consider using Zelle alternatives suchTorFX.
At the time of writing, Google Pay only supports sending money to India and Singapore. However, in the near future there are plans to expand the service to include wider global coverage. It may include the full roster of available options at Wise and Western Union – the platforms that support payments at Google Pay.
Google Pay is the winner in this category because it allows for international transfers and has plans to increase their global coverage, whereas Zelle only supports US domestic transfers and does not plan to roll out international payments.
Which brand is faster?
Zelle offers instant processing times: the recipient should only have to wait a few minutes for the funds to arrive. If the recipient does not have a Zelle account, then it will take extra time to access the funds while an account is created.
The transaction speed at Google Pay is also instant; the recipient should be able to access the funds instantly after the transaction has been initiated. This is, in part, thanks to Google Pay’s partnership with Wise, which allows for fast processing times.
Although both brands offer instant transfers, Google Pay appears to have the advantage, due to partnering with Wise, one of the industry leaders in global remittances. Zelle funds can only be sent instantly between individuals who have an existing account with the company, whereas Google Pay transfers can be sent instantly to most accounts.
Which brand offers more transfer and payment options?
Zelle allows users to execute transfers between US banks that are on their network, so the only payment method available is bank transfer. This means you cannot access other payment methods that customers enjoy using such as cash transfers and debit card.
Google Pay facilitates a variety of payment options, which includes paying with debit card, eWallet balance or bank transfers. You can also use Wise and Western Union as the source of funds for more options. Cash pick up is one of the notable payment options that is not included.
Zelle is limited to USD bank transfers between accounts in the United States. On the other hand, Google Pay is the clear winner because the brand simply offers more options: bank transfers, eWallet, debit card, as well as facilitating Wise and Western Union as funding sources. You will have an easier time making payments with Google Pay because there are significantly more options.
What do users have to say about each brand?
Zelle is rated 1.1 out of 5 stars on Trustpilot, a poor score overall which indicates that most users are not happy with their experience of Zelle. One of the recurring comments is a lack of speed, in spite of Zelle’s promise of offering instant transfers.
Additionally, there are multiple reports that Zelle is often targeted by hackers. Several media publications report on hacking claims which adds weight to these claims.
Google Pay has a below average score of 2.4 out of 5 on TrustPilot. The score is higher than Zelle’s, but does not fill prospective customers with confidence. The main complaint from users is the lack of customer support: many feel that the support team does not care or help to resolve recurring issues.
Some customers mention their account was suddenly frozen without warning and therefore experienced issues retrieving funds.
The overall sentiment from customers is that both platforms have their own unique problems. Despite it being a below average score, Google Pay has been rated higher on Trustpilot, but both money transfer services must work to improve their reputation among customers.
What brand offers better ease of use, accessibility, transparency & security?
English is the only available supported language on their mobile app or website. Also, bank transfers are the only remittance option and sending money is limited to US bank accounts. To overcome this limitation you should consider international money transfer services.
Security details are not required when sending money through the Zelle mobile app. The funds will arrive instantly after the transaction has been initiated. It means that transactions cannot be cancelled, so the sender must enter the correct details. The bank will not offer insurance for transfers that have been incorrectly completed.
You can download the mobile app from the App Store and Google Play, which have excellent ratings of 4.8 and 4.3. It suggests the mobile app does an excellent job of delivering on useful features that customers need to send money.
There is no fee for using the Zelle app to send and receive money. Zelle charges banks a fee of $0.50 to $0.75 for providing their banks with instant transfers to a wide network of customers.
Google Pay only offers international money transfers to India and Singapore. So, like Zelle, they offer limited worldwide coverage. However, Google Pay plans to improve by adding many more countries. It is rumored that they may offer the same volume of available countries that you can find on Wise and Western Union.
Using Google Pay is easier than Zelle because of the many payment options available. You can deposit funds with bank transfers, debit cards, Western Union and Wise. Also, transfers are executed instantly so the recipient does not have to wait long.
The Google Pay app has a score of 4.1 on Google Play and 4.3 on the App Store. This indicates that the user experience is positive and the available features work as intended. The app allows customers to send and receive money. Also, a Visa card is available that can be linked to the eWallet account.
Like Zelle, Google Pay offers free transfers. The only caveat is that you will be charged 1.5% for using debit card payments. This is unfortunate since many customers will want to use debit cards because it is convenient.
Google Pay provides better functionality and ease of use, with more payment options and plans to add a significant number of countries to the service’s disbursement network in the near future.
Disbursements: using Zelle customers can receive funds from universities, businesses and government organizations.
Without a smartphone: no smartphone is required when sending money with Zelle. You will need to log into your bank or credit union that are on the Zelle network.
Easy transfers: the transfer process with Zelle is quick and simple. You only need the recipient’s US mobile number and email address. The lack of long bank account numbers means you can send money from memory.
More countries coming: Google Pay plans to improve the global coverage of their service by adding more countries. You may discover that the countries available on Wise and Western Union will be included. These are the payment processors that are currently supporting Google Pay.
History: you can tap on any contact you sent money to for a transaction history. The information is presented in a chat-like view, which is easy to understand at first glance.
Pay from eWallet: you can send money directly from your eWallet. It means you do not need to find a payment method every time you want to send money.
In conclusion, Zelle is the right choice if you want to avoid using an app to complete transfers. Also, the process is simple and accessible to anyone that does online banking. On the other hand, Google Pay offers extra features such as intuitively viewing the transaction history with a contact and you can pay from an eWallet. The biggest additional information is that Goggle Pay will increase the available countries where you can send money.
Upon further inspection, it is clear that Zelle and Google Pay both are the best money transfer apps that offer completely different digital payment services. Zelle focuses on domestic transactions between US bank accounts, while Google Pay offers international transfers and multiple payment options. However, keep in mind that at the time of writing, Google Pay only offers transfers to India and Singapore. You will need an alternative specialist service for transfers to other countries. Consider using Xe, which has a vast global network of 170+ countries and multi-lingual support. You can also check our Zelle vs PayPal comparison to discover who offers the best international money transfers for the customers.
There are a few similarities between Google Pay and Zelle. They both offer highly rated mobile apps that indicate excellent functionality and user experience. Also, the transfer speeds are instant, which is a big factor to consider when choosing an international money transfer service.
In conclusion, the better transfer service is Google Pay. That is because it offers more payment options, better global coverage and their customer reviews are slightly better. It is a service that is worth investing in as more countries will get added to their service in the near future.
Additional support from MoneyTransfers.com
You can learn more by reading the Zelle Review and Google Pay review on our website. The reviews go deeper into the features and possible use cases for each money transfer service. However, the biggest restrictions of Zelle and Google Pay are the limited available countries where you can send money. Most customers will not download these apps and look for competitive alternatives instead. For access to a global network of over 150 countries choose WorldRemit. They offer competitive transfer fees and flexible payment options. You may also want to check out our extensive list of money transfer providers in our Reviews section, and compare them with our very handy comparison tool!