Questions about Popmoney
1. What is Popmoney?
Popmoney is an innovative payment service offered by First National Bank that eliminates the hassles of checks and cash. Now, sending and receiving money is as easy as emailing and texting. Best of all, you don't need a new account to send or receive money. Just use your current bank account.
2. How does Popmoney work?
- To send money, you simply log in to your First National Bank Online Banking, Bill Pay and look for "Popmoney” tab.
- You can send money to anyone using an email address, mobile number or bank account information.
- You will receive an email or text message notification when the transaction is completed.
- The recipient will get an email or text message telling him/her that someone sent money. If the recipient is a First National Bank customer, that person just logs in to First National Bank Online Banking to retrieve the funds.
- If the recipient’s bank offers Popmoney, the recipient can log in to his/her bank account and direct the funds there.
- If the recipient’s bank does not offer Popmoney, the recipient can provide his/her bank account information at Popmoney.com. The recipient’s money will be sent to that account.
- If the recipient does not provide his/her account information, the payment will be automatically returned to the sender's account.
3. What can I use Popmoney for?
Popmoney is easy and convenient for you and the people you send money to... they can simply receive the money into their bank account online, saving them a trip to the bank.
Use Popmoney® to:
- Send money to your child at college
- Send a gift to family and friends
- Pay back friends for that fun outing
- Pay your babysitter or your lawn care service
- Pay rent to your landlord or roommates
4. What are some of the features?
- Personalize your gift payments with an e-greeting template
- Set up future-dated payments and recurring payments
- Import contacts from popular email services (such as Hotmail®, Yahoo!® ,Gmail®)
- Send money using an account number, in addition to using an email address or mobile number
- Add multiple email addresses and mobile numbers for any contact
- Respond to all Popmoney activity, including depositing payments and paying requests, from a central dashboard, or “To Do List”
- Receive money by simply verifying an email address or mobile phone number (without formally enrolling)
- Access the largest person-to-person payment network for financial institutions, with 1,400 participating banks and credit unions.
5. How secure is Popmoney?
From the moment information is sent to Popmoney to the time it is stored and accessed again, it is encrypted using industry leading software, hardware and algorithms. Security is also utilized at specific points and actions in the product. For example, to help prevent an unauthorized person from fraudulently depositing someone else’s payment, one-time passcodes are used. For every initial payment to a new email address or mobile phone number, a one-time passcode is sent to the user. The user must provide that passcode back to Popmoney to verify his “ownership” of that mobile number or email address before he can deposit the payment.
6. Will my bank account information be shared with the recipient?
No, your bank account information will not be shared with the recipient. Your recipient will see your first name, last name, and the message you wrote for the payment; if you sent the payment to your contact's email address, your recipient will also see your email address. Similarly, you won't be able to see your recipient's bank account information.
7. Why do I need to verify my email address and phone number?
Verification of your email address and phone number is required for security reasons. Entering the correct verification codes ensures that you have access to your email and phone. You may also be asked to verify your mobile phone in the future to send and receive payments.
To view the Popmoney section of the demo, click on the Bill Pay demo and select the Popmoney tab on the left.
For additional information about Popmoney, logon to Online Banking, select your checking account, click the blue Bill Pay tab and click on the Popmoney tab.