What is pop money?

Popmoney is a service that allows individuals to send and receive money directly from their bank accounts. It's often integrated into online banking platforms, making it a convenient alternative to traditional checks or cash.

Here's some key information:

• Functionality: Popmoney facilitates person-to-person (P2P) payments. You can send money to someone using their email address or mobile phone number, and they can deposit the funds directly into their bank account.
• Integration: It is typically integrated into the online banking platforms of participating banks and credit unions. This allows users to access Popmoney services directly from their existing bank account. Check to see if your bank provides this.
• Security: Because Popmoney operates through established banking networks, it generally offers a secure method for transferring funds compared to some other P2P payment apps. The security is offered by your bank, not Popmoney itself.
• Fees: Banks sometimes charge fees for using Popmoney. The fees depend on the financial institution and the transaction type. Check with your bank to understand any associated fees.
• Alternatives: There are numerous other P2P payment services available, such as Zelle, PayPal, Venmo, and Cash App. Each service has its own features, fees, and user base.
• Limitations: Certain sending limits may apply, determined by your bank or credit union. These limits are in place to help protect against fraud and manage risk. Make sure you can transfer the amounts you plan to use, before transferring.
• Account Requirements: Both the sender and receiver generally need to have bank accounts at participating institutions or create a Popmoney account.