The practice of transferring money instantly is ubiquitous in today's economy, and Zelle is one of the most popular digital payment services, with many over 2,300 banks and credit unions in the U.S.

Zelle has quickly become a go-to option for person-to-person payments in the U.S. One reason is the nearly instant money transfers — often within minutes — which can be a lifesaver if you’re splitting ...