Peer2Peer

Zelle vs Cash App

by
Finanzy

Posted on April 20, 2020 6:42 AM



Today we explore two of the most popular options used by people to buy and sell crypto from one another, ZELLE and CASH App.

There are some significant differences between the two: 

1. Zelle is owned by banks while Cash App is run by Square, a company founded by the same people who run twitter.

2. Zelle payments use email or phone number whereas Cash App uses a username called a “CashTag” which looks something like this $CashTag

3. Signing up for Zelle is sometimes complicated and the app is not as simple to use as Cash App.

4. Both Zelle and Cash App say that payments are irreversible but for Zelle, this is a lie, Zelle is used massively by fraudsters to reverse payments after buying your crypto, with Cash App there is no such problem. 

5. Zelle and banks in general will ban your bank account for dealing with Bitcoin, Cash App is a supporter of crypto currencies and will not ban you from using it for crypto transactions.

6. Zelle has strict monthly limits on how much money you can send, usually $5000 a month, Cash App has monthly limits up to $25000.

7. Zelle punishes you for conducting business on your bank account by closing your bank account, there are many horror stories of people’s accounts being closed by Zelle, Cash app has no such problems. These are some of the stories from real people about getting their bank account banned by Zelle) 
a)Scammed on Zelle and Bank account closed: https://www.reddit.com/r/Bitcoin/comments/dcvtn7/scammed_on_localbitcoins/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
b) Bank closed account because I invested in Bitcoin: https://www.reddit.com/r/Bitcoin/comments/922u89/my_bank_closed_my_salary_account_because_i/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
c) Bank of America closed my 10 year old accounts: https://www.reddit.com/r/Bitcoin/comments/70q4ge/bank_of_america_closed_my_accounts/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

If you’re in the crypto space, you are well aware that Banks hate Bitcoin, the above links are just a few examples of their actions and attitudes to crypto.

Based on these differences and findings, we can easily conclude that Zelle is NOT the optimal way to carry out Peer-to-Peer purchases or sales of Bitcoin, it’s like a terrible version of PayPal run by banks, if you ask me, I would recommend CASH App. 


CASH App has lower risk, avoids fraud and is much more user friendly. Save your bank account, use CASH App.

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