Quote:
Originally Posted by JustinD
This is why Zelle has become the new method of late other than PPFF for many sellers. A quick sweep of secondary marketplaces is now full of Zelle mentions since the states and then feds started launching these new methods for redistribution of funds to seemingly anyone but me, lol.
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Absolutely right, and makes perfect sense. And I wasn't aware of this till just reading this thread either. We can all learn and come across new information daily, as long as we keep an open and ever-inquiring mind.
Can easily see Zelle making a huge jump over other services like Paypal because of this new, lowered 1099-K reporting threshold, and apparent lack of fees (at least currently) for using Zelle. However, just to completely be up front, it also appears Zelle offers no protection for buyers using this payment service, like you'd otherwise have if using a credit card or Paypal - Goods and Services. Zelle is basically the same as Paypal - Friends and Family, no fees and no 1099-K reporting requirements, but also no similar sales/account protections.