Megan Brooks
East West Bank offers Zelle® for eligible small businesses to send and receive money directly from its BusinessExpress platform. With Zelle®, users can send and receive money quickly, safely, and easily, with payments typically available within minutes. To use Zelle®, users must have a U.S. checking or savings account and a U.S. mobile number or email address. Transactions can be made between enrolled users or by sending payment requests to an email address for non-enrolled users. East West Bank does not charge for Mobile Banking, however, standard data charges may apply.
| Characteristics | Values |
|---|---|
| Zelle® availability | Available for eligible small businesses and consumer customers |
| Zelle® transactions | Send, receive, and request money |
| Zelle® transaction time | Transactions between enrolled users typically occur in minutes |
| Zelle® transaction requirements | U.S. checking or savings account required to use Zelle®. Payment requests to persons not enrolled with Zelle® must be sent to an email address |
| Zelle® transaction security | No need to provide account information to send and receive payments |
| Mobile banking charges | East West Bank does not charge for mobile banking, but your mobile service provider may charge for sending and receiving text messages on your phone |
| Mobile app features | Transfer money between accounts, send Red Envelopes, access a variety of premium banking products and services |
| Mobile app limitations | Account availability may be limited based on your geographic location or mobile carrier country |
| FDIC insurance | Up to $250,000 per depositor, per insured bank, for each account ownership category |
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What You'll Learn
East West Bank's Zelle® Terms of Service
East West Bank offers its customers the ability to use Zelle® to send and receive money. This service is available to eligible small businesses and individuals. Zelle® is a fast, safe, and easy way to send and receive money with the security you can trust from East West Bank.
Eligibility
To use Zelle®, you must have a U.S. checking or savings account with East West Bank. Transactions can only be made between enrolled users. To enrol, you must select the U.S. mobile number or email address you would like to use. If you have a foreign mobile number registered with the bank, you will need to enrol with your email address. You will then receive a 6-digit code to verify your mobile number or email.
Sending and Receiving Money
Once enrolled, you can send money to an existing person or business from your contacts or by entering the recipient's email address or U.S. mobile number. You will receive an email confirmation of your payment, and the money will typically be available to the recipient within minutes.
To receive money, the sender must be enrolled with Zelle® and have your email address or U.S. mobile number. Payments will be deposited directly into your East West Bank account and are typically available within minutes.
Fees
East West Bank does not charge for Mobile Banking or for using Zelle®. However, your mobile service provider may charge fees for sending and receiving text messages. Please check with your service provider for details on specific fees and data charges that may apply.
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Zelle®'s compatibility with East West Bank accounts
Zelle® is compatible with East West Bank accounts. Eligible small businesses can send and receive money directly from the East West Bank BusinessExpress platform with the security offered by the bank. This means that East West Bank account holders can use Zelle® to send and receive money from their customers directly to their bank account. This can be done via the BusinessExpress Mobile App or Online Banking.
To use Zelle®, you must have a U.S. mobile number or email address. If you have a foreign mobile number registered with the bank, you will be asked to enrol with your email address. Zelle® will then send a 6-digit code to verify your mobile number or email address. Once verified, you can start using Zelle® to send, receive, and request money.
To send money, select an existing contact or enter the email address or U.S. mobile number of a trusted person or business. You will then see an email confirmation of your payment. Typically, the money will be available to the recipient in minutes.
To request money, use the "Request" option and select an existing contact or enter their email address or U.S. mobile phone number. To split the request between multiple people or businesses, select "Split" and then select the relevant contacts.
East West Bank does not charge for Mobile Banking, but your mobile service provider may charge for sending and receiving text messages. Check with your service provider for details on specific fees and data charges that may apply.
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Using Zelle® on the East West Bank Mobile App
Zelle® is a fast, safe, and easy way to send, receive, and request money with eligible small businesses and individuals directly from the East West Bank Mobile App.
To use Zelle® on the East West Bank Mobile App, you must first download the app and have a U.S. checking or savings account. East West Bank does not charge for Mobile Banking, but your mobile service provider may charge for sending and receiving text messages on your phone. Check with your service provider for details on specific fees and data charges that may apply.
Once you have downloaded the app and agreed to any terms, you can start using Zelle® to send, receive, and request money. To send money, select an existing contact from your list or enter the email address or U.S. mobile number of the person or business you want to send money to. You can also use a recipient's QR code by tapping "Scan the QR code to send money with Zelle®", scanning or selecting the QR code, and confirming the name of the recipient. You will see a confirmation of your payment, and in most cases, the money is available to the recipient in minutes.
To receive money, share your Zelle® QR code to easily and securely receive money. To request money, use the "Request" button and select an existing contact from your list or enter their email address or U.S. mobile phone number. To split the request with more than one person or business, select "Split" and then select the contacts you want to split the expense with from your list, or enter their email address or U.S. mobile number.
Please note that Zelle® supports U.S. mobile numbers only. If you have a foreign mobile number registered with the bank, you will be asked to enrol with your email. You will receive a 6-digit code to verify your mobile number or email.
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Sending money with Zelle® to other businesses
East West Bank offers Zelle® for small businesses to send and receive money directly from the BusinessExpress platform. This service is fast, safe, and easy to use, with transactions typically occurring in minutes. To use Zelle®, you must have a U.S. checking or savings account and be enrolled with Zelle® directly through East West Bank's online or mobile banking services.
To send money to another business using Zelle®, you can select an existing business from your contact list or enter the email address or U.S. mobile number of the business you wish to pay. You will then receive an email confirmation of your payment, and the money will typically be available to the recipient in minutes. It is important to note that Zelle® supports U.S. mobile numbers only, so if you have a foreign mobile number registered, you will need to enrol with your email address.
Zelle® can also be used to request money from other businesses. To do this, select the "Request" option and choose an existing contact or enter the email address or U.S. mobile number of the business you wish to request money from. You also have the option to split the request with multiple businesses.
When using Zelle®, it is important to only send money to businesses you know and trust, as transactions made through Zelle® are not protected in the same way as credit or debit card transactions. Once you send the money, you cannot cancel the payment, and neither East West Bank nor Zelle® offers a protection program for authorised payments.
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Receiving money with Zelle® from customers
Zelle® is a fast, safe, and easy way to receive money from customers. It is available to eligible small businesses and allows you to receive money directly from the East West Bank BusinessExpress platform with the security you trust from the bank.
To receive money with Zelle®, you must first enrol your email address or U.S. mobile number with Zelle® through online banking or the mobile app and associate it with your small business account. You can then share your enrolled email address or mobile number with your customers and ask them to send payments with Zelle® right from their banking app.
If you are enrolled with Zelle®, the money will move directly into your enrolled bank account, typically within minutes. Your customers do not need to know your account information to send you payments. You can also request payments from your customers with Zelle®, which will send them a notification.
To receive money with your Zelle® QR code, log in to the mobile app, tap 'Pay & Transfer', then 'Zelle®', then 'Settings'. Select your preferred contact method, then tap 'QR code'. You can then print or share your QR code with your customers.
Please note that East West Bank does not charge for Mobile Banking. However, your mobile service provider may charge for sending and receiving text messages on your phone. Check with your service provider for details on specific fees and data charges that may apply.
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Frequently asked questions
Yes, East West Bank offers Zelle for eligible small businesses.
You can use Zelle through the East West Bank BusinessExpress Mobile App or Online Banking.
You need a U.S. mobile number or email address to enroll with Zelle. You will also need a U.S. checking or savings account.
No, East West Bank does not charge for Mobile Banking. However, your mobile service provider may charge fees for sending and receiving text messages.
