UBP2PHub

UBP2PHub is our new person-to-person payment service which replaces our Pay Others service. See below for funds transfer options that are available to you and learn more about our new service.

CONFIRM YOUR CONTACT INFORMATION

Ensuring your contact information is up-to-date is always important in case we need to contact you, and can help avoid delays.  Updated contact information is also important and required in order to add new recipients or initiate a payment in P2PHub. Ensure your information within the Setting option in Online/Mobile Banking is up-to-date. Select the Address Change option to review and make any required updates to the address, phone and email address we have on file.

UBP2PHub FEATURES AND BENEFITS

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 when it launches this summer by contacting us by phone or visiting your nearest branch. When family or friends need money quickly, you can use the UBP2PHub 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. The benefits and features of our new service include the following:

• Enhanced Security – Includes additional out-of-band security question/answer shared between you and the recipient, as well as the ability to create payment alerts (text or email) for initiated payments, delivered payments, or upcoming future dated payments.
• Recipients Can Select How to Receive Funds – Recipients can select how to receive funds with UBP2PHub. Recipients will be able to select from real-time transfers using their eligible debit card, or via Automated Clearing House (ACH) using their account number and routing number.
• Send Funds to Multiple Recipients with One Transaction – Need to send money to a number of friends? You can now transfer funds to all of them with one transaction.
• Future Dated and Recurring Payments – You can schedule payments for a future date or schedule them to transfer on a recurring basis.
  • Want to pay someone but don’t have the funds until pay day? You can schedule the payment for pay day.
  • Need to pay your landlord on the 1st of each month? You can do that with UBP2PHub.
• Send Funds from Any of Your Checking Accounts – Which account you use for sending a P2P transfer is no longer dependent on which account is tied to your debit card.
• Integrate New Payment Options – UBP2PHub is specifically designed to incorporate new payment options as they become available.
• More to Come!

HOW IT WORKS

Step 1- Sign-Up & Set Up

• Contact us by phone, or stop in to your nearest branch to confirm your identity (to avoid fraudulent access to your account).
• Sign into online banking and click the Transfer Funds menu.
• Select UBP2PHub.
• On the Welcome to UBP2PHub screen, select Continue to Settings.
• Within the Settings page, select your Default Funding Account from the drop down menu.
• In the Payment Alerts section, confirm or update the Send to email address.
• Activate the “when payments are sent” and “when payment is delivered” alerts.
• Within the Manage Contacts section, select the plus (+) sign to add a new contact/recipient.
  • As an additional security feature, you will be prompted with a 2-step verification prompt.
• Select the email or cell phone # you wish to receive your Verification Code at and press the “send code” button.
• You will then be asked to enter the code that was emailed or sent via text to you on the Verify screen.

Step 2- Add Contacts:

• Add a contact you wish to send funds to (or to be able to send funds to in the future) by selecting the plus (+) sign in the upper right corner.
• Enter the name and mobile phone number and/or email address.
• Complete the Security Question and Answer for the contact (this step adds another security feature which the contacts will need to answer in order to receive the funds)
• We recommend that the question/answer be something that the recipient will know the answer to, or that you contact (call) the recipient and provide them with the answer when you send the funds to them.

Step 3 – Send Money:

• Select the “pay menu” option.
• Enter the recipient.
• Enter any comments
• Select the payment date and frequency (one time payment or recurring).
• Select “pay”.
• Note: if you activated the “when payments are sent” and “when payments are received” alerts, you will receive confirmation that the payment has been successfully sent, and when it is received by the recipient.
• Note:  if a recipient does not accept a payment within seven (7) days, the payment will be terminated.  Recipients will be notified about an outstanding payment after two days, again after five days, and will be notified a final time after seven days that the payment has been terminated.

Step 4- Receive Money:

• The recipient of a UBP2PHub payment will receive a text or email (depending on what you entered in the contact information) with a link for them to select to receive the funds.
• Note: some email carriers/providers may direct the notification email to spam.  It is always good to communicate with people when you send funds to ensure they are expecting it (and possibly delete the notification thinking it is a scam).  You can also advise them to search their spam or junk email if they have not received the notification within a minute or two of when you send it.
• After selecting the link, the recipient will receive notification that you sent them money and will be prompted to answer the security question.
• Once confirmed, the recipient may elect to receive funds: almost immediately with an eligible debit card, or on the next business day when they include their bank routing number and account # before 8pm EST.
  

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P2PHub Frequently Asked Questions

1. What is P2PHub?

   Also referred to as Person-To-Person or P2P, P2PHub 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.

2. Who can use P2PHub?

   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.

3. What are some of the reasons to use P2PHub?

   To quickly send money to family and friends in an emergency or on a special occasion like a birthday or holiday.

4. What are some of the high-level features and benefits of P2PHub?

   • 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

5. What mobile devices can be used?

   iOS and Android devices are supported.

6. 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.

7. Where can I send payments?

   You can send payments to just about anyone with a U.S. bank account.

8. 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.

9. 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).

10. Is there a daily limit to how much money I can send?

    	Maximum Transfer $Amount	Daily P2P $ Limit	Weekly P2P $ Limit	Monthly P2P $ Limit
    New UBP2PHub Consumer (1st 60 Days)	$250	$500	$1,000	$1,000
    UBP2PHub Consumer (after 60 days)	$1,500	$2,500	$5,000	$7,500
    New UBP2PHub Bus. User (1st 60 Days)	$500	$1,000	$2,000	$2,000
    UBP2PHub Bus. User (After 60 Days)	$1,500	$25,000	$5,000	$7,500

11. Are there any transaction limitations?

    There are no restrictions on the number of transactions per day.

12. How much does it cost?

    P2PHub is a free service. There are no charges to senders or recipients using the service.

13. How do I cancel a payment?

    Payments can be cancelled through the app if they are still in a scheduled status.  When you select the UBP2PHub option, you will be presented with the “scheduled payments” screen.  Select the payment in question and select the “delete” or “edit” button.  When you confirm the deletion, the recipient will receive notification that you have cancelled the payment.  With the “edit” button, you can change the amount, comments in the payment, the account the funds are being drawn from, the date and frequency.  If you have additional questions on canceling a payment, please contact our Customer Care Team at 1.800.753.4343.

     

14. Tell me more about security.

    Payment requests are validated via a secure online verification code. Additionally, before a recipient can receive funds, they must answer a security question where you create the question, and the answer, and then share the answer with the recipient. There are also multi-authentication measures required when logging-in to online banking. Senders or Recipients using the service should never share credentials or one-time passcodes with anyone. All that is needed for a Recipient to receive funds is their mobile phone number (SMS text message) or email address.

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