Morgan Stanley Wealth Management announced the latest enhancement of its cash management offering with a person-to-person (P2P) payments service called Morgan Stanley Send Money with Zelle. It is available on the Morgan Stanley Mobile App for iPhone and Android and enables Morgan Stanley’s Wealth Management clients to send money and receive money from almost anyone with a U.S. bank account using the recipient’s email address or U.S. mobile phone number.
“We are excited to offer our wealth management clients a convenient way to send and receive money from the Morgan Stanley Mobile App,” said Eric Heaton, Managing Director, Head of the Private Banking Group. “Morgan Stanley Send Money with Zelle lets clients make payments using their mobile device, without any additional costs.”
The Zelle Network connects the nation’s leading financial institutions, enabling consumers to send payments from their mobile phone. “By joining the Zelle Network, we are providing clients with an integrated platform that will help them manage their everyday cash management needs,” added Heaton.
By enrolling in the Send Money With Zelle feature on their Morgan Stanley app, and using it to make payments, clients may qualify for Morgan Stanley’s Premier Cash Management Program (Premier). Premier rewards clients for consolidating their everyday cash management activities with the firm.