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Popmoney

Personal & Business Internet Banking Indiana

What is Popmoney?

Popmoney is an innovative personal payment service offered by leading financial institutions that eliminates the hassles of checks and cash. Now, sending and receiving money is as easy as emailing and texting. And you don't need a new account to send or receive money. Just use your current bank/financial institution account. 

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How does Popmoney work?

Sending Money

To send money, log in to your online banking account and look for Popmoney. Send money to anyone using their email address or account information. You will be notified when the transaction is completed.

Receiving Money

When someone sends money to you, you will receive an email or text message. 

If your financial institution offers Popmoney, you can log in to your account and direct the funds there. If your financial institution does not offer Popmoney, you can provide your account information at Popmoney.com, and your money will be sent to that account. 

If you do not provide your account information, the payment will be automatically returned to the sender's account.

Money sent directly to an account will be automatically deposited. No action is required by the recipient. 

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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. The following are just a few of the convenient ways that you can use Popmoney:

  • Send money to your child at college
  • Send a gift to family and friends
  • Reimburse friends for that fun outing
  • Pay your babysitter or your lawn care service
  • Pay rent to your landlord or roommates
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Will my account information be shared with the recipient?

No, your account information will not be shared with the recipient. The recipient will only see your first name, last name and the message you wrote for the payment. When you send a payment to an email address, the recipient will also see your email address. Similarly, you will not be able to see the recipient's account information.

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Do I need to verify my email address and phone number?

Verification of your email address and phone number may be 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.

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What are the different ways I can send money to someone?

You can send money to someone using their email address, mobile number or account information:

Email address: your contact will receive an email with instructions on how to direct the payment into his or her account.

Mobile number: a text message will be sent to the recipient on your behalf with instructions on how to direct the payment into his or her account.

Account Information: (routing and account number): the money will be deposited directly into your contact's account. You will also have the option to send an email to your contact. 

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When will the recipient receive the funds?

This depends on the delivery option selected by the sender. If the sender has selected 3-Day or Standard delivery then the recipient will receive the funds 3 business days after accepting the payment. If the sender has selected Next Day or Express delivery then the recipient will receive the funds 1 business day after accepting the payment.

If the sender does not have an option to select a delivery speed, funds will normally be available to the recipient on the next business day if you are sending money to someone who has used Popmoney and has selected the Automatic Deposit option. Funds will also be available on the next business day if you have provided your contact's account information. 

In some cases, like when you have exceeded payment limits, the funds will be available in 3 business days. 

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When will the funds be deducted from my account?

If you make a payment before 7:00p.m. Pacific time on a business day, the funds will be debited from your account on the same day.

If you make a payment after 7:00p.m. Pacific time or on a non-business day, the funds will be debited from your account on the next business day. 

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Why do I have limits on my payments?

For your protection, limits have been created on how much money and how many payments can be sent during various time periods. You can click the help icon next to the Amounts field to view your available limits. 

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Why are some of my contact options missing from the Send Method dropdown list?

For your protection, your contacts' accounts or email addresses in Popmoney may be placed on hold or suspended for various reasons. If this occurs, then you may not send money to these accounts. For example, if you fail verification when attempting to send money to them, this would result in a hold. 

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Why am I asked to enter a message to the contact? 

A personal message helps to give your contact confidence that they are receiving a payment from someone they know. It is also your opportunity to communicate the purpose of the payment. 

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What are the fees associated with the service?

A fee may be charged for each Popmoney transaction. Fees for the transaction are displayed below the amount field. 

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Can I cancel a payment?

Yes, you may cancel a payment anytime before or on the send date. Your contact will be notified if you cancel a payment after a payment notification has been sent. 

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How do I add a contact?

There are two ways to add a contact: 

Click on the Contacts tab and click on the Add Contact button. Enter the required fields and click Save.

Click on the Add New Contact link in the drop-down list that appears when you click on the To field. Enter the required fields on the popup window and click Save.

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Can I send money internationally?

No, currently you can only use Popmoney to send money within the United States. If you send a payment to your contact's email or mobile, your contact will be required to provide a US bank account to receive the funds. Otherwise, the payment cannot be processed and the funds will be returned to your account. 

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Can I create a payment with a future date?

Yes, Popmoney allows you to schedule one time or recurring future payments.

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What are the different ways I can request money from someone? 

You can send money to someone using his/her:

Email address: your contact will receive an email with instructions on how to pay the request.

Mobile number: a text message will be sent to the recipient on your behalf with instructions on how to pay the request.

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When will I receive the funds?

3 business days after the recipient of the request makes the payment. The money will be deposited to the account you selected when sending the request.

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Why do I have limits on my requests?

For your protections, limits have been created on how many requests and value of requests can be sent during various time periods. Please click the Icon next to the Amounts field to view your available limits.

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Can I request money from multiple contacts at a time?

Yes. You can request money from multiple contacts by entering their phone numbers or email addresses in the "From" field. You can also request and specify different amounts from different people in the same request.

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Do I pay a fee if my request is not paid?

No. Fees will be deducted only if you receive a payment. No fee will be charged if the request is not paid.

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Why am I asked to enter a message to the contact?

A personal message gives the contact the confidence that he/she is receiving the request from someone they know. It is also an opportunity for you to communicate the purpose of the request to the contact.

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Can I cancel a request?

Yes, you may cancel a payment anytime before or on the send date. Your contact will be notified if you cancel a payment after a payment notification has been sent. 

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Why don't I see a payment that I'm expecting?

If you are expecting a payment and you do not see it in your Incoming Payments, this is most likely because you have not added the email address or mobile number to which the payment was sent. Have you added this email address or mobile number? If not, go to Preferences to add and verify it. Once you are done, you will be able to see the payment immediately.

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When will the funds be available in my account after I deposit the payment?

Click Activity to view the estimated date when the funds will be available. All payments are available within 3 business days, though some may be available sooner depending on delivery speed and the date that the payment was sent. 

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Why am I asked to verify my mobile number to deposit a payment sent to my email address?

As a security precaution, the sender provided your mobile number when they scheduled the payment. You need to verify access to this mobile number in order to confirm your identity and receive the funds. 

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    Tuesday, April 15, 2014

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Mutual Blog

Personal Banking Security Measures for the 21st Century

clientuploads/21st-Century-Securitysquare180.pngMany of us are constantly connected to the online world these days. This means that the potential is there for our computers and personal information to be compromised which greatly increases the risk of ID theft and financial fraud to occur. However, by taking some basic precautions you can significantly reduce the risk of your computing environment being compromised. Following these simple guidelines should help your computing environment become more secure:

Keep your computer and software up-to-date

Keep your computers and network equipment secured with the latest software updates and enable automatic updates whenever possible.  This includes updates to third party applications such as Java and Adobe Products.  

Use hard drive encryption

In the event your machine is lost or stolen, drive encryption can prevent others from accessing the data on your hard drive.  The purpose is to encrypt or scramble your data on your machine so that it can only be read with your encryption key.Many operating systems offer drive encryption.  Microsoft offers Bitlocker and Apple has FileVault. There are also other third party encryption offerings.   

Enable your firewall

Think of the firewall to your computer as the fence around your property.  If there were multiple holes cut in the fence, it wouldn’t be very useful at keeping people out.  Firewalls are typically enabled by default on Windows machines, but double check to make sure it’s on.  Here are instructions to do so if you are using Windows 7. Only allow necessary applications inbound access through your firewall. The same principles apply to your network firewall. 

Configure your screensaver

Set an auto-locking screensaver so your account gets locked out after a few minutes.  This is useful if you forget to lock your machine when are away from it. On Windows machines this can usually be done by pressing the “Windows Key” and the “L” button simultaneously.

Make your passwords stronger

The longer and more complex the password, the better.  At least 16 characters with a combination of upper and lowecase letters, numbers, and special characters is a best practice.

Configure your router

Use the strongest wireless security available (currently WPA2-CCMP) with a long and complex password for your wireless network. Disable WPS on your wireless router for greater security.   

 


Think that some secure banking information
of yours has been compromised?

If you suspect that your personal financial information has been compromised, call MutualBank Customer Support at 800-382-8031.


 

Monday, April 7, 2014

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