Re:PayPal’s updated acceptable use policy [pdf]
by toomuchtodo on Sunday October 02, 2022 @11:32PM
(#33063199)
Early Warning Services is a consortium owned by the largest US banks themselves.
https://www.earlywarning.com/about
If your threat model is that you don’t trust your bank with your deposit account balance and transaction history, that is hard to mitigate. I don’t necessarily trust my bank, but I do know what regulators to call for recourse when they misstep.
Zelle is a trade name of Early Warning Systems, which maintains databases of what you do in your bank account (checks paid and deposited, monthly balances, etc.). I would assume the banks that have native Zelle integration are required to become members and share this information anyway.