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You may already use Venmo or the Cash App to get free instant payments for free from friends and family. If you bank with Chase, the Chase QuickPay tool can be a good substitute. You can send or receive instant payments from your friends, regardless of which bank they use.
If you have a Chase Sapphire banking account, QuickPay can be another perk of using Chase. And if you’re looking for a faster way to transfer money between friends, you may want to check out Chase QuickPay, especially if you have a Chase checking account.
How Does Chase QuickPay Work?
Chase QuickPay is a free money transfer app powered by Zelle® Pay. If you’re not familiar with Zelle®, it is powered by different U.S. banks to rival Venmo or the Cash App. The one difference between apps like Chase QuickPay and Venmo is the money transfers directly from bank accounts. With Venmo, you have the option of keeping your funds in your Venmo digital wallet.
Many bank and credit union apps only let you transfer funds with other bank members. Chase QuickPay lets you transfer or receive money from any U.S. bank or credit union for free.
To use Chase QuickPay, one person in the transaction must have a Chase checking account or Chase Liquid prepaid debit card. The other person only needs a U.S.-based bank account. It doesn’t have to be with Chase.
You can also split transactions between multiple people. In the same instance, each person needs a U.S.-based bank account. Only one person needs a Chase checking account for the transaction to happen on QuickPay.
Enrolling in Chase QuickPay
You can enroll online in your Chase account under the “Pay and Transfer” menu. You will need a Chase checking account or Chase Liquid prepaid debit card to enroll. If you only own a Chase credit card, you won’t see the QuickPay option. Your only options will be paying your card balance and balance transfers.
Once you enroll in Chase QuickPay, you will have the option in the Chase app or online website to send or receive money.
Non-Chase Customers
If your friends are not Chase customers, you can still send them money. Non-Chase customers can also send you money. All transfers are free. However, they will first need to enroll in ZellePay before you can transfer money in Chase QuickPay.
It might be easiest for non-Chase customers to enroll in ZellePay directly through their bank. If their bank or credit union isn’t a Zelle partner, they will need to download the Zelle app. Either way, it’s free to use Zelle.
Some of the Zelle partner banks include national banks like Bank of America, Ally, and Wells Fargo. Many regional banks also participate like BB&T and the Bank of Hawaii.
How to Transfer Funds
Chase QuickPay makes it easy to send money to the correct person. You can sync QuickPay with your phone contacts. Select the one person you want to send money to or request money from. After they approve the transfer request, Chase completes most transfers within minutes.
Splitting Charges
You can split charges with multiple people. QuickPay members can log into their Chase checking account, Liquid card, or credit card (like the Chase Sapphire Preferred) to start the request.
Transfer Speeds
Most Chase QuickPay transfers complete within minutes to other Chase customers and banks who are Zelle partners. But if the person’s bank account isn’t a Zelle partner, the transfer can take several business days.
Transfers happen within minutes between Chase customers. If you transfer money between a Zelle partner bank who accepts real-time payments, these transfers happen within minutes.
But it can take several days for transfers to complete if the bank doesn’t accept real-time payments. If the non-Chase bank is a Zelle partner (some Zelle partners don’t accept real-time payments), it takes between 1 and 3 business days.
The longest wait time can be receiving money from a bank that isn’t a Zelle partner. Even though you have Chase QuickPay, it can take 4 or 5 days to receive cash from your friend. This is because it takes your friend 1 or 2 business days for Chase to receive the funds. Then Chase places a hold until the transferring bank confirms the transfer is legit.
Chase QuickPay is best when you transfer funds with other Chase QuickPay members or Zelle partner banks.
Transfer Limits
Chase QuickPay isn’t an ideal option for making large purchases. But the transfer limits are enough to cover most bills between friends and family.
Below are how much you can transfer each day or month from your Chase account:
- Personal checking accounts and Chase Liquid cards: Up to $2,000 per day and $16,000 a calendar month
- Chase Private Client or Private Banks accounts: Up to $5,000 per day and $40,000 a calendar month
- Chase business checking accounts: Up to $5,000 per day and $40,000 a calendar month
There are no limits to how much you can receive each day or month.
Related: Need a new business credit card? See what the best Chase business credit card is for you.
Is Chase QuickPay Worth It?
Chase QuickPay is a convenient and free way to instantly transfer money with other friends at participating banks. These banks include Chase and many of the largest national and regional banks.
For example, if you currently pay a small fee to instantly transfer your Venmo or PayPal balance to your debit card, it’s free to transfer money with Chase QuickPay.
Venmo, Paypal, and Cash App can be a better option if your friends don’t bank with a Zelle partner. Transfers might be quicker. These digital wallets can also be easier to send money using social media or you are already familiar with using Venmo or Cash.
Finally, you must decide if having a Chase checking account or Chase Liquid debit card are worth the monthly fee. If you can waive the fee, are those requirements achievable?
Summary on Chase Quick Pay
Chase QuickPay is a nice perk if you are a Chase Bank customer or your friend banks with a Zelle partner. You can make free instant money transfers when other apps might charge a small fee. But if you only want to use Chase for their best Chase credit card options, you have other options that let you transfer money and split charges for free.
