Chase QuickPay with Zelle makes it easy to send or receive money directly from a Chase account. The service is free, and Zelle works with most banks, so you can send money and receive money with almost anyone in just a few minutes. To send or receive money all you need is the other party's U.S. mobile phone number or email address. Money is moved directly between checking accounts.
The amount of time required to receive payments with Chase QuickPay varies, and the longer end of the window (5 days as per the website) is significantly longer than real-time payments offered by others in the industry. Additionally, the app is limited and does not contain many common mobile wallet features.
It is important to note that if you already have and use the Chase Mobile App you don't need to download a new app because all money transfer benefits are available in the Chase app. All you'd have to do is sync your mobile contacts to make it easier to send and receive funds with friends and family.
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Chase QuickPay enables users to make and receive payments to/from anyone with an email address or U.S. mobile phone number. As far as a mobile wallet, it is important to note that this app is best suited for sending money between two parties for purposes such as:
While Chase QuickPay can also be used by businesses, this app really shines in secure person-to-person payments.
Sending payments is easy and secure with Chase QuickPay and there is no need to exchange financial information. Money is sent using a checking account.
In order to send payments, users sign into their app and perform the following steps:
The user can then see a confirmation of the payment and the recipient receives an email letting them know they have funds which await their acceptance. If the recipient does not yet have a Chase QuickPay account, they must enroll before the funds are released. Accepting payment is as simple as logging into the app or online and clicking/tapping "Accept", after which the funds are transferred into their account. Funds are then deposited directly into their bank account. If the transaction is between two Chase customers, the money is usually deposited the same day or by the next business day. For a non-Chase customer, the wait may be longer.
Chase QuickPay is also accepted with many financial institutions. As stated earlier, the user does not have to have a Chase account but does need a bank account. Chase QuickPay will work with any valid U.S. bank account. It is also supported by any device that can access the internet.
Not only can you send and receive money through Chase Quickpay, but you can also easily deposit funds into your Chase account either through Chase QuickDeposit, Chase ATMs, and Direct Deposit.
Chase QuickPay offers all of the same security enjoyed by account holders of Chase Bank. Financial information is encrypted and stored on secure servers.
When using the Chase Mobile App, after five failed attempts to log in, the app locks and users are not able to unlock it and log in until their account is accessed online and the password is changed. The Chase Mobile App will log out users after 12 minutes of inactivity as an added layer of security and to protect the user in case their phone is ever lost or stolen. Chase QuickPay is secure for users because no financial information is needed to send or to receive money.
While it is possible for merchants to have customers pay using Chase QuickPay, it is not very common nor is it convenient. The merchant needs to have a Chase account and let customers know this is an option for payment by providing their email address. It is much more common and convenient for Chase QuickPay to be used for transactions between individual people which limits the ability of it becoming a full replacement for a physical wallet.
While there are no limits to the amount of money you can receive, there are limits on how much money you can send depending on the type of account you are using. These limits are as follows:
Please note that transfer limits for participating Zelle banks and out-of-network banks will vary.
There is no rewards or incentive program in place for using Chase QuickPay. While this isn't necessarily a common practice among mobile wallet companies, some do offer rewards or benefits that can be accessed by using the app.