Learn How to Safely Send Money When Using Zelle®

Home Blog Learn How to Safely Send Money When Using Zelle®

Posted On: September 7, 2023 by Peoples Bank of Kankakee County in: Personal Finances

Zelle® is a fast, safe and free1 way to send and receive money with friends, family, and other people you trust, typically in minutes,2 using the Peoples Bank mobile app. With just an email address or U.S. mobile phone number, you can send money to people you trust, regardless of where they bank2. It’s great to use when paying the babysitter, your child’s coach, or a coworker. Below you will find some valuable tips to ensure your safety when sending money with Zelle®.

Safety Tips

Transact with Trusted Individuals Only: It's advisable to limit sending money to people you know and have a high level of trust in. Once a payment is sent to an existing Zelle® user, it's irreversible. It cannot be canceled. So, you’ll want to treat Zelle® like cash. Never send money to unfamiliar recipients to prevent potential disappointment if things don't go as expected.

Stay Vigilant Against Payment Scams: Payment scams can occur when a scammer sells you something like a concert ticket or a new puppy but then never delivers the item. Unlike credit cards, neither Peoples Bank nor Zelle® offers purchase protection for payments made with Zelle®. Remain vigilant for potential scams and refrain from sending money if you are not 100% confident in the legitimacy of the recipient. Only send money to people you personally know and trust.

Verify Recipient Information: Prior to confirming a transfer, double-check that you possess the correct U.S. mobile number or email address of the recipient. This verification step ensures that your funds reach the intended person.

Maintain Updated Security Settings: Explore the available security settings to fortify your account. For instance, enabling dual authentication along with a robust password can serve as an effective barrier against any potential hacking attempts.

Implementing safety measures will help you safely pay people you know and trust with Zelle®. Click here to learn more about Zelle®, learn how to enroll, and watch our online video. As always, we are available and happy to help. Contact us today at 815-936-7600 if you have questions about Zelle®.

1 Mobile network carrier fees may apply.

2 U.S. checking or savings account required to use Zelle®. Transactions between enrolled users typically occur in minutes.

3 In order to send payment requests or split payment requests to a U.S. mobile number, the mobile number must already be enrolled with Zelle®.

Copyright © 2023 Peoples Bank of Kankakee County. All rights reserved. Terms and conditions apply. Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.