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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 Singaporeonly, 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.
✅ Verdict: The first win goes to Zelle
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.
✅ Verdict: Google Pay wins this round
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 alternatives such TorFX.
✅ Verdict: Google Pay has a wider disbursement network
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.
✅ Verdict: Google Pay has a slight advantage here
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.
✅ Verdict: Google Pay wins again
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.
✅ Verdict: Google Pay wins out of the two, but not by much
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.
✅ Verdict: Google Pay is the winner of this category
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.
Additional features
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.
✅ Verdict: The final round ends with a tie
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.
Bottom line - who is better?
Upon further inspection, it is clear that Zelle and Google Pay 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.
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!
