Popmoney

elannis

So I'm on my bank's website and see the option for "Pay Other People". I guess there is something called Popmoney.com where you can skip checks and cash and just directly deposit money from your account to theirs online. I've never heard of this, but it is on my bank's website, so I assume it's secure. It's just kind of different, lol. I'm not all that up to date with computer stuff and resist change, lol.

Has anyone ever used this?

elannis

This would come in handy though because I have to pay for my checks and BF doesn't and usually we both split the bills and put 2 checks in the envelope, but if I used this, I wouldn't have to use my checks and our landlord wouldn't accidentally lose one of the checks and try to charge us 50$ for late payment!

elannis

That sounds very similar to the popmoney thing and hopefully it'd show up on my account more quickly than waiting for someone to cash a check. I never knew that you could do that kind of thing. I need to get out more I think, lol.

Swazzle

Hmm I never heard of this!  I wonder if my bank (PNC) does something similar.  I usually just use PayPal for that sort of thing. 

Ollie08

I've never heard of that particular program. I have BofA like Liv and I usually do things like she does either through bill pay or through online transfers.

elannis

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_popmoney?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:317a4516-33ba-4759-b074-163319b41cbcPost:f9e8ddcf-44fb-443a-8afb-0216a96ca751">Re: Popmoney</a>:
[QUOTE]Hmm I never heard of this!  I wonder if my bank (PNC) does something similar.  I usually just use <strong>PayPal </strong>for that sort of thing. 
Posted by rdr716[/QUOTE]

For some reason, I never thought about doing that, lol.

Swazzle

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_popmoney?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:317a4516-33ba-4759-b074-163319b41cbcPost:c73b22cf-d2c6-4ac3-bda5-1964b68fba83">Re: Popmoney</a>:
[QUOTE]In Response to Re: Popmoney : For some reason, I never thought about doing that, lol.
Posted by elannis[/QUOTE]

<div>Yea! It's really easy actually.  Right now my friends & I have our final deposit due for the villa we rented for vacation.  I'm putting the full deposit on my credit card (yay points!) & they're all PayPal-ing me theirs. One girl sent hers late yesterday & it's already processed. It'll probably be in my bank account tomorrow.  </div>

cu97tiger

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_popmoney?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:317a4516-33ba-4759-b074-163319b41cbcPost:f9e8ddcf-44fb-443a-8afb-0216a96ca751">Re: Popmoney</a>:
[QUOTE]Hmm I never heard of this!  I wonder if my bank (PNC) does something similar. <strong> I usually just use PayPal for that sort of thing. </strong>
Posted by rdr716[/QUOTE]

<div>This. The only thing is sometimes PayPal takes out a small fee. I haven't figured out what combination of choices (personal/business/selling item, etc) results in a fee, but it is SUPER easy to use. All you need is the email address of the other persons PayPal account.</div>

elannis

Cool. I may try that then instead.

I looked at PayPal's website and it says that there is only a fee if you use a credit/debit card. Using your PayPal balance or your bank account should be free though.

Swazzle

Yea I've never been charged a fee.  I've always done bank account to PayPal or PayPal to bank account & no fees ever!

bsidebella

Both banks I have used do this. For one, you can "link" two accounts if you belong to the same bank and you have to exchange money often (like FI and I do). I think there's a fee to exchange if you're in different banks, though.

Beads921

Never heard of it. I wonder if we have it in Canada?

I've done email money transfers, which essentially accomplishes the same thing, but there is a small fee attached to it (so it's not something you'd want to do regularly).

While I love online banking, I still prefer the security of doing a lot of it in person. I pay most of my bills online through my bank's website, but when it comes to actually transferring money from my account to BF & my joint account, I'd rather write and deposit a cheque. I don't like involving that third party (which Popmoney or PayPal or the email transfer does).

elannis

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_popmoney?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:317a4516-33ba-4759-b074-163319b41cbcPost:b04f876f-7776-42c0-8c9a-76647691dbec">Re: Popmoney</a>:
[QUOTE]Both banks I have used do this. For one, you can "link" two accounts if you belong to the same bank and you have to exchange money often (like FI and I do). I think there's a fee to exchange if you're in different banks, though.
Posted by bsidebella[/QUOTE]

Hmm, my BF does have a different bank, so if I wanted to send money to him through Popmoney.com, I'd have to pay a fee for that? I think I'll just try the PayPal method because I'm not fond of fees, lol.

bsidebella

Stupid question for me to ask but ... have you tried going to your bank and asking what their policy is on this, or if it's even an option?

elannis

That's actually how I found it. It was their main way to transfer funds to other people, so I know they accept it, but I haven't done much research on it, so I thought I'd ask here.

bsidebella

Ah, sorry. I misread your OP

I would go to the bank or call customer service and ask exactly what this entails.

elannis

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_popmoney?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:317a4516-33ba-4759-b074-163319b41cbcPost:f2d1cd84-998d-4cc2-9c58-3cdac98c7b8e">Re: Popmoney</a>:
[QUOTE]Ah, sorry. I misread your OP =) I would go to the bank or call customer service and ask exactly what this entails.
Posted by bsidebella[/QUOTE]

Yeah, I probably should. I need to change my address anyways, so I guess I can do that when I call them for that!