Popmoney®* FAQs

What is Popmoney®?

With Popmoney® you can send and receive a FREE standard payment easily and quickly with your checking or savings account. Send money to family and friends, your child at college, a babysitter, pay back a friend, pay rent and more. No more having to write checks or take out cash. Get started today. Simply select Popmoney® from your NBSB Mobile Banking app or Online Banking account through Bill Pay.

 

What are different ways I can send money to someone?

You can send money using a recipient’s email address, mobile phone number, or routing and account number.

 

How does the recipient receive their money?

The recipient will get a notification informing them that you have requested to send them money. If they already use Popmoney®, they most likely will not have to do anything. If their financial institution offers Popmoney®, they can deposit payments directly through their online banking account. If they are new to Popmoney® and Popmoney® is not offered by their financial institution, they will need to create a Popmoney® account.

 

When will funds be deducted from my account?

If you make a payment before 8 p.m. ET on a business day, the funds will be debited from your Eligible Transaction Account the same day. You should see the transaction on your account statement the following day. If you make a payment after 8 p.m. ET or on a non-business day, the funds will be debited from your Eligible Transaction Account the next business day. If you use a debit card to make a payment, the funds will be debited from your account immediately.

 

Does using Popmoney® cost anything?

Standard Popmoney® payments are FREE! A fee will be charged for Next Day Popmoney® transactions. Fees for Next Day transactions are displayed on the Popmoney® screen.

 

How long will it take to send or receive a transfer?

Transfers will take 1-3 days to process for regular delivery. Overnight delivery is available for an additional charge.

 

When will the recipient receive the funds?

The timing to receive the funds depends on the type of account used to make the payment. The delivery speed will be displayed when you schedule the payment. It could take additional time if your contact has not used Popmoney® or will have to log in and accept the payment.

 

Can I cancel a payment?

You are able to cancel a payment as long as the payment hasn’t begun processing.

 

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. Limits may vary by user and apply to the amount you can send per transaction, per day and per month, as well as to total outstanding payments. To view these limits, click the icon next to the Amounts field.

 

Can I send a transfer to someone who doesn’t have a Popmoney® account?

Yes, but they will need to create a Popmoney® account to claim the payment. These recipients will receive an email or text notification instructing them on how to do this.

 

What if a recipient forgets to claim the transfer?

Recipients will have 10 days to claim a payment, and they will receive automatic reminders on the 3rd and 7th day. After the 10th day, the payment will be refunded to you and you will need to resubmit the transfer.

 

Is Popmoney® secure?

We consider your financial security a top priority. 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.

 


*A fee will be charged for Next Day Popmoney® transactions. Fees for Next Day transactions are displayed on the Popmoney® screen.