November 15th, 2010

Paying People Is Easy and Free with POPmoney

Every day there seem to be fewer and fewer reasons to write checks. Nowadays you buy your groceries with your debit card. You put your holiday shopping spree on your VISA®. You pay your electric bill with SMCU’s Bill Pay.

Like many people, you can probably count the number of checks you write in a year on one hand. The only time you use your checkbook is when you need to pay your buddy, Milt, for your share of team’s fancy new bowling shirts or send a graduation present to your favorite niece.

Even then, checks aren’t terribly convenient. First, you have to fill in every blank by hand. Then you put the check in an envelope, write even more stuff, lick the delicious adhesive on the back of the stamp and envelope flap and put it all in the mail. If you’re not mailing the check, you stuff it in your purse or wallet and wait until the next time you see Milt. After all that, you may never know that the person has received your check.

Fortunately, SMCU makes it easy to pay people electronically using POPmoney.


 

POPmoney transfers are convenient

POPmoney is a great service offered within SMCU’s Online Banking that allows you to send money to someone and have the money deposited directly to their bank account. To send a POPmoney payment you only need to have their email address or mobile phone number.

Once you submit the transfer, the recipient receives an email or text message telling them they have a pending POPmoney transfer. They then log into the POPmoney website or access POPmoney through their financial institution and input where they want the money deposited. Standard transfers are deposited into the account within 3 business days of the receiver entering their deposit instructions.

Standard transfers are free

There is no fee for Standard transfers through POPmoney. Next Day transfers are only $2.00 and are processed the business day after the receiver inputs their deposit instructions.

POPmoney is secure

POPmoney uses the latest security and encryption techniques to ensure that your information is protected. Since neither the sender nor recipient knows each other’s account information, your privacy is ensured throughout the entire transaction. Plus, if the recipient doesn’t acknowledge the transfer within 10 days, the money is returned to your account, so you don’t have to worry about whether or not they received their money.

Send and Receive from Within SMCU’s Online Banking

To access POPmoney all you have to do is log into your SMCU Online Banking account. From there you’ll have access to all of the POPmoney functions and be able to:

  • Send money to other people using POPmoney
  • Receive money from other POPmoney users
  • Set up future and recurring payments
  • Designate your preferred deposit account for incoming POPmoney transfers.

SMCU and POPmoney make it easier to send money to anyone, anywhere without having to write a check. Try it today at smcu.com.

Click here for a detailed tutorial on how to access POPmoney through SMCU’s Online Banking.

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