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Forgot Your Checkbook? No Cash on Hand? No Problem! U.S. Bank Introduces Zelle Innovation to Customers with June 17 App Release

MINNEAPOLIS--(BUSINESS WIRE)--Jun. 12, 2017-- U.S. Bank is integrating Zelle℠ – the fast, easy and secure new way to move money -- into the U.S. Bank Mobile App and U.S. Bank Online Banking, making it easier for customers to send money to others without the need for cash or checks. Zelle will appear in the U.S. Bank Mobile App and on usbank.com starting June 17. The service will be free for U.S. Bank customers.

“We’ve all had that moment when you need to pay someone but you don’t have cash on hand or you left your checkbook at home,” said Gareth Gaston, executive vice president and head of Omnichannel Banking at U.S. Bank. “Maybe you’ve come across a fantastic collector’s item at a yard sale. Maybe your niece or nephew asked you to contribute to their fundraiser, but they need the money sooner than the next time they’ll see you, or faster than a check could arrive. Maybe you forgot to swing by the ATM on your way home from a night out and you realize you don’t have cash to pay the babysitter. Today, with Zelle, U.S. Bank customers can quickly send money to almost anyone in the country using only their mobile number or email address. Zelle truly creates possibilities that might otherwise be missed.”

Gaston will announce the upcoming launch of Zelle on June 14 at the Digital Banking Conference in Austin, Texas, where he is speaking about the work U.S. Bank is doing to transform banking through innovations such as Zelle.

Zelle is backed by a large and growing number of financial institutions, which means U.S. Bank customers can send money to family and friends even if they bank elsewhere. The capabilities of Zelle are embedded in the U.S. Bank Mobile App and Online Banking, so customers don’t have to leave the security of their bank to send money. Payments are sent using either a registered email address or mobile number, which means customers never have to share their account information. Zelle payments typically complete in just minutes, moving directly and securely from account to account with no stops in between.

“We’re moving digital payments to the mainstream,” Gaston said. “Moving money faster, more safely and conveniently is important to a broad range of customers. It’s not just for millennials. For a growing number of people who are using their mobile devices for just about everything these days, Zelle is a natural fit.”

Known for its ethical and influential leadership in financial-services innovation, U.S. Bank was one of the first banks to sign on to Zelle. U.S. Bank stays on top of emerging trends for the benefit of its customers, offering them the opportunity to bank when, where and how they want.

Minneapolis-based U.S. Bancorp (NYSE: USB), with $450 billion in assets as of March 31, 2017, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,091 banking offices in 25 states and 4,838 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. www.usbank.com

Source: U.S. Bank

U.S. Bank Corporate Communications
Teri Charest, 612-303-0732

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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