How do you pay your friend back for your share of dinner? What if you want to send some money to a family member quickly and easily? How about if someone needs to send you some money? It used to be that you generally had to carry cash or a check with you to pay […]
Pay Others- P2P
Person-to-person payments (P2P) is an online technology that allows people to transfer money to others. As a Union Bank online and mobile banking customer, you can access this free service by contacting us by phone or visiting your nearest branch. When family or friends need money quickly, you can turn to the Pay Others feature within online banking to make direct person-to-person payments. This is a great way to send money to loved ones on birthdays and other special events, to settle-up a restaurant bill or to help someone you want to pay quickly and efficiently. Lots of possibilities will present themselves, and this option will come in handy. It’s simple to set up, (you only need your debit card number) and even easier to send money (you only need to know the recipient’s mobile phone number or email address). And, you can do it all from the convenience of your desktop PC, tablet or mobile phone.
FEATURES AND BENEFITS
- Free to all Union Bank online and mobile banking customers with a Union Bank debit card that is linked to a personal checking account
- Enables customers to electronically send money from their Union Bank checking account to other Union Bank customers, as well as those who bank with another financial institution within the United States.
- Helps to streamline overall banking experience for customers and avoid going through a third party vendor
- Fast – money is sent instantly
- Secure – every transaction is authorized using your Union Bank debit card personal identification number (PIN) before being sent
- Easy – online and mobile banking customers can access the Pay Others service from within online banking to make a payment or send money electronically to any person in the U.S. without having to write a check or exchange cash
- Reduces the need to carry checkbooks and excess cash
HOW IT WORKS
Step 1- Sign-Up:
- Contact us by phone or stop in to your nearest branch to confirm your identity (to avoid fraudulent access to your account).
- Log-in to online banking and click the Transfer Money tab in the left menu
- Scroll down to the Pay Others tab
- Review introduction screen
- Review and confirm the Terms and Conditions and agree to use the service
- Enter and verify your Union Bank debit card information to enroll your card in the service.
- Now you are ready to send money from the main Pay Others (person to person (P2P) screen or mobile app.
- On the main screen you can now manage cards by adding new cards, deleting existing cards, or adding/editing card nickname
Step 2 – Send Money:
- Open the “Send Money” app
- Enter/select Receiver’s email or mobile number and the dollar amount to be sent
- Fill- in the optional memo field with a note
- Select debit card to send funds from (if more than one card is registered)
- Review information for accuracy
- Enter your debit card PIN – transaction complete and confirmation screen appears. Important note: For security purposes, the number pad will scramble after each number of your PIN is entered.
- Review History, close or continue with other online banking business
- Recipient receives a link via email or text to accept the funds
- Enters first and last name and debit card details for immediate transfer of funds or enter bank account details
- Accept the terms of service
- Click Deposit Payment
- Transaction complete and confirmation screen appears- no need to register with a third party service
Note: Recipients’ without an eligible debit card or for those who prefer to receive funds directly to their bank account; will need to provide account and routing number information. Funds will be received in approximately 1-2 business days. Funds will be returned to your account if Recipient does not claim the money after 10 days.
Security Tip: Please never ask for someone else’s debit card number, nor give another individual your number (other than to a business for a normal telephone or online purchase). And, never share your PIN (Personal Identification Number), passcode, or password with anyone.
Pay Others Frequently Asked Questions
What is Pay Others?
Also referred to as Person-To-Person or P2P, Pay Others is Union Bank’s payment system which allows you to send money electronically in a fast and secure way from your Union Bank checking account to another person’s bank account when logged-in to online and mobile banking.
Who can use Pay Others?
All Union Bank customers with personal and business checking accounts that are enrolled in online and mobile banking. The service in not available to Cash Management customers.
What are some of the reasons to use Pay Others payments?
To quickly send money to family and friends in an emergency or on a special occasion like a birthday or holiday.
What are some of the high-level features and benefits of Pay Others payments?
- Included with digital banking
- Easy to set up, and easy to use
- Send money quickly
- Convenient: Send money from desktop, tablet or mobile phone
- No networks to register with or join
- Highly secure
What mobile devices can be used?
iOS and Android devices are supported.
What do I need to send payments?
All that is needed to use the service is a Union Bank debit card and the recipients’ name, and email address or mobile phone number.
Where can I send payments?
You can send payments to just about anyone with a U.S. bank account.
How is a recipient notified?
The person you are sending funds to will be notified via email or text message and will be informed that funds are available. Typically, an embedded link is then activated to the website of the sender’s financial institution.
How quickly will a recipient receive funds?
For recipients with a debit card on a supported network, funds availability will be practically real-time. Other recipients should see funds deposited in 1-2 business days (via ACH).
Can I use a debit or credit card from another finanical institution to send funds?
Sorry, the answer is no. Only Union Bank debit cards may be used to fund transactions.
Is there a daily limit to how much money I can send?
Yes. To help protect you from fraudulent activity on your card, the Pay Others service shares the $1500 daily debit card purchase limit. For example, if you use your debit card to make a purchase on the same day you make a Pay Others payment, the combined amount cannot exceed the $1500 daily debit card purchase limit.
Are there any transaction limitations?
There are no restrictions on the number of transactions per day.
How much does it cost?
Pay Others is a free service. There are no charges to senders or recipients using the service.
How do I cancel a payment?
The bank may be able to cancel a payment, please contact our Customer Care Team at 1.800.753.4343.
Tell me more about security.
Payment requests are validated via a secure online PIN pad, along with all of the multi-authentication measures required when logging-in to online banking. Pay Others is a PIN transaction system which means senders or recipients using the service should never give their debit card number to anyone. All that is needed for a Recipient to receive funds is their mobile phone number (SMS text message) or email address.