The mobile banking already existed...this Zelle feature was an add-on. I've been transferring money from one bank to the other for awhile and really see no difference since the "Zelle" feature was added.
I have both B of A and Chase accounts....both are set up for mobile banking with different email addresses registered on the mobile banking. I keep less than $200 on one account for lunch money, gasoline, and charges at Mom & Pop shops - the places most likely to be hacked. All the crook will get is less than $200 IF they are successful at getting any monies. I work in the field and don't carry cash.
Very easy to send money from Chase to B of A or vice versa. You CAN send money to persons of other banks that allow transfer via email/mobile # so long as the person registered and set up mobile transferring at their bank to send/receive money (via email or mobile #). The transfer doesn't HAVE to be done via phone app. It can be done on a desktop, laptop, tablet, or phone. I usually send "lunch money" from one bank to the other via my desktop but it is great when I'm on-the-go and need to replenish the "lunch money" debit card. The money is transferred in minutes (literally).
The Zelle feature hasn't done anything different than what was already going on - at least to ME it has made any difference.
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