1.
Funds Transfer
An Introduction to the
Funds Transfer Service
Account Eligibility
Security and Privacy
Creating Your Funds Transfer
Portfolio and Adding Accounts
Executing Funds Transfers
Checking the Status of Your
Funds Transfer Requests
Keeping Account Information
Up to Date
2.
Pay People [Sender]
About Pay People: The Basics
Making Payments with Pay
People
3.
Pay People [Receiver]
Understanding Funds
Transfers
·
How do funds get transferred?
·
How long does it take
to complete a transfer?
How do funds get transferred?
We process Electronic
Funds Transfers (EFT) via the Automated Clearing
House (ACH) secure network. This is the same network
used by the Federal Reserve to clear checks between
financial institutions. We submit a request to
the ACH network to transfer funds between the accounts
you've specified. ACH then uses its secure channels
to complete the transaction. This procedure is very
similar to the process employers use to create direct
deposit of payroll and that financial institutions
use to carry out automated payments for loans or
mortgages.
How long does it take
to complete a transfer?
Your funds transfer may take
up to four business days to process. Please note
that the completion of a transfer, including the
availability of funds in the destination account
and access to the transaction details, will depend
in part upon how quickly your institution updates
your account after receiving the transfer. Full
details regarding your funds transfer requests are
viewable on your Transfer Status screen.
Funds will be posted
to your destination account once the funds have
been successfully drawn from your source account.
Your transaction remains “In Process” for four business
days from the day you send your request. After
that, the status gets updated to “Complete,” indicating
a successful transaction, provided no problems have
occurred with the transfer.
Basics of the Funds
Transfer Service
·
How much will the Funds
Transfer Service cost?
·
What time will my transfer
be initiated?
·
How will I know when
a transfer is complete?
·
Are there any limits
to how much I can transfer?
·
Can I transfer funds
into someone else's account?
·
What about joint accounts?
·
Can I set up a transfer
now to be executed at a future date?
·
Can I set up regularly
recurring funds transfers?
·
Can I use the Funds
Transfer service to transfer money between accounts
at the same financial institution?
·
What should I do if
I wish to cancel a funds transfer request?
How much will the Funds
Transfer Service cost?
It’s just $1.75 per transaction.
What time will my transfer
be initiated?
We will enter your transfer
into the ACH system on the business day following
receipt of your request, provided you've requested
your transfer by 4:00 p.m. Pacific Time (7:00 p.m.
Eastern Time).
If you initiate a transfer
after 4:00 p.m. Pacific Time (PT), the transfer
will be posted two business days following the request
date. Please note that all transfers requested
during the weekend (after 4:00 p.m. PT on Friday)
will be posted on Tuesday.
Depending upon the destination
account’s financial institution, it may take an
additional business day for the transaction to be
reflected in the account balance of the destination
account.
How will I know when
a transfer is complete?
Your “Overview” screen
displays the status of recent transactions. For
additional transaction history, go to our “History”
screen.
Are there any limits
to how much I can transfer?
Once your accounts have been verified, you will
be able to transfer
·
Up to $2000.00 per transaction
·
Up to $2000.00 in total transactions per day
·
Up to $2000.00 in total outstanding transactions
(transfers that you've initiated but which haven't
been finalized)
·
Up to $5000.00 in total transactions per calendar
month
Can I transfer funds
into someone else's account?
Yes. Using the Pay People service you can send
money to someone else.
What about joint accounts?
Both owners of a jointly held account can transfer
funds into and out of the account. The account
holders must have separate Funds Transfer Portfolios.
The joint account can then easily be added to both
portfolios, using the standard "Add Account"
and account verification procedures. (Please see
the joint accounts section in Account Eligibility
and Conditions for more details.)
Can I set up a transfer
now to be executed at a future date?
For the present, we're unable to accept pre-dated
transfers. However, we'll be offering this capability
in the near future.
Can I set up regularly
recurring funds transfers?
Not at this time. This is a service enhancement
that's scheduled for the near future.
Can I use the Funds
Transfer service to transfer money between accounts
at the same financial institution?
These types of transfers take place at your financial
institution’s online banking site.
What should I do if
I wish to cancel a funds transfer request?
Once you have requested a transfer, we cannot recall
the request. You have the option to request a second
transfer between the same two accounts sending the
funds back their point of origin (in effect reversing
your first transfer).
Bank and Investment
Accounts to Use with the Funds Transfer Service
·
Which accounts are eligible
for the Funds Transfer service?
·
Which accounts are not
eligible for the Funds Transfer service?
Which accounts are eligible
for the Funds Transfer service?
·
Checking and savings accounts held at any bank or
credit union nationwide that is able to accept ACH
transfers.
·
Investment accounts held at any affiliated online
brokerage firms. We currently have accessibility
to ten of the nation's largest brokerage companies,
and we will be adding several major brokerages in
the near future. We'll keep working to expand this
roster steadily in the months ahead.
Which accounts are not
eligible for the Funds Transfer service?
·
Money Market Accounts
·
Individual Retirement Accounts (IRAs)
·
Custodial and/or Trust Accounts
·
Business Accounts for which more than one person
has check-writing privileges
·
Certificate of Deposits (CDs) or other time-based
accounts
·
Loan Accounts (including credit card and equity
accounts)
You may have other accounts that are ineligible
for funds transfers due to restrictions specific
to your financial institution(s). If in doubt,
please contact your institutions to ensure that
your accounts are eligible for funds transfers.
Keeping You Safe and
Secure
·
How is my privacy protected?
·
Is my information ever
shared with third parties?
How is my privacy protected?
There are multiple levels of security to ensure
the protection of your information from loss, theft,
and unauthorized access, modification or disclosure.
We make sure that our security measures conform
to all applicable federal, state and local laws.
Sensitive information, including account numbers
and account verification date, is encrypted with
state-of-the-art encryption software. For example,
we use 128-bit SSL encryption when communicating
data over the ACH network. For a full description
of the care we take in this area, please see our
full-length Security Policy.
Your login name and password, and all verification
information pertaining to your individual accounts,
remains encrypted. Please see the full-length Privacy
Policy for more details.
Is my information ever
shared with third parties?
Your information is never shared with a third party.
The Background
--What You'll Want to Know
·
How long does the sign-up
process take?
·
Why do I have to verify
my identity and accounts?
·
Can I make changes to
my portfolio after the initial set-up?
·
How often will I have
to go through the verification process?
·
Do transaction limits,
fees, and special conditions from my financial institution
apply to the Funds Transfer service?
How long does the sign-up process take?
Initial registration and identity verification:
It takes approximately five minutes to complete.
Individual account verification:
In many cases, we can complete online confirmation
of individual accounts for which you have Internet
access within minutes. For other accounts, we will
ask you to complete an offline verification procedure
that generally takes 2-4 business days. See below
for a detailed description of the account verification
procedure.
Why do I have to verify
my identity and accounts?
The ID verification and account verification are
double-check safeguards that help us make sure nobody
gets access to your accounts but you.
Can I make changes to
my portfolio after the initial set-up?
Yes. You can easily add or delete accounts at any
time.
How often will I have to go through the verification process?
For your protection, we'll ask you to a complete
the individual account verification process for
each account included in your initial set-up and
for any accounts you add thereafter. This is applicable
only to your non-host accounts, your host accounts
will be always auto enabled and you do not have
to go through any process for approving those for
the service.
Do
transaction limits, fees, and conditions attached
to an account by my financial institution apply
to the Funds Transfer service?
Yes. In all cases, transaction limits, fees, and
conditions placed on account transactions by individual
institutions apply to the Funds Transfer service.
Note that any and all fees resulting from such conditions
will be charged to you by your financial institution.
If you have any questions, contact your financial
institution
THE
PROCESS: CREATING YOUR PORTFOLIO STEP-BY-STEP
. How to begin
·
Adding accounts to your
Funds Transfer Portfolio
·
Verifying accounts with
your financial institutions
1.
How do I sign up for the
Funds Transfer Service?
·
Login to your online banking account at your financial
institution’s website.
·
Click the “Payment Manager” button located at the
top of the screen.
·
Click on either the “Funds Transfer” or “Pay People”
links on the page. You will be taken to the “Overview”
page.
·
Click on the link located under the “Overview” tab.
This link will take you to a page that will display
your e-mail address and ask for a 20-digit validation
code. You will find that code in the introductory
e-mail you received from us.
·
Cut and paste this validation code into the appropriate
field and click “Submit”.
You will then be taken to the “Overview” page.
Here you will find that all of your host checking
accounts are already enabled.
2.
Adding Bank Accounts and
Investment Accounts to your Funds Transfer Portfolio
· Adding
Bank Accounts
·
Adding Investment Accounts
·
Adding Joint Accounts
ADDING BANK ACCOUNTS
·
How do I add accounts?
(a step-by-step description)
Entering
your institution name
Providing
account information (and online account verification)
Adding
additional bank accounts
Verify
all accounts
Why can’t I find my
financial institution’s name?
·
What is an ABA routing
number?
·
How do I identify the
ABA routing number for my account?
·
How do I find my account
number?
How do I add accounts
to my Funds Transfer Portfolio?
Click “Add Accounts” at the top of your “Overview”
page. This will bring you directly to the “Add
Bank Accounts” page, where you'll enter each account
you would like to make eligible for the Funds Transfer
service.
Step 1--Enter your financial institution’s name
Enter the complete name of your financial institution
in the data entry field. Do not use abbreviations.
Once you perform the search, you'll see hyperlinks
for one or more institutions matching your search
data. Click on the link for your institution.
Step 2--Provide account information
You'll be brought to a screen asking for the account
number and ABA routing number of your account.
Enter the account number in the data field and select
the proper ABA routing number from the drop-down
list (See below for information about ABA numbers,
including what they are and how to find yours).
·
Online account verification: We can often
verify the account with your institution immediately
via the Internet. If this is the case, you'll be
asked to supply the password and pin number you
use to gain access to your online account with the
institution.
·
If online account verification is not possible,
you'll be asked to complete our offline account
verification process. See below
for details regarding online and offline account
verification.
When you have supplied all requested information,
click “Continue”. You will be brought to your “Overview”
page.
·
If you have completed a successful online verification,
the account will be listed under the “Enabled Accounts”
section of the “Overview” page with "Approved"
appearing in the Status column.
·
If offline verification is necessary, the account
will appear under the “Accounts Requiring Verification”
section of the “Overview” page. We recommend that
you wait until you have submitted all investment
and bank accounts you wish to add to the Funds Transfer
Service and then click “Verify All”.
Step 3--Verify all accounts
Each account you add needs to be verified before
it can be used for the Funds Transfer service.
The accounts that you have submitted
for the Funds Transfer Service and that could not
be verified online appear on your “Overview” page
under the “Accounts Requiring Verification” section.
·
When you've all the accounts that you wish, click
“Verify All” to initiate the verification process
for all accounts appearing in the Accounts Requiring
Verification box. (See below
for details regarding account verification.)
Why can’t I find my
financial institution’s name?
1) Your search may not be successful if you've
abbreviated or misspelled your financial institution’s
name. Try entering the name again. Check for spelling
errors and other typos.
2) Your financial institution may not be in our
database yet. While our listings include a vast
majority of banks in the U.S., there are still a
few, especially smaller institutions that are not
yet included.
3) Your account type may not be supported for the
Funds Transfer service. We only support the following
account types:
- Checking accounts
- Savings accounts
- Investment accounts held at one of our affiliated
brokerages.
What is an ABA routing number?
The ABA routing number is an identification number
assigned to each financial institution and each
branch office. That's why the larger your institution,
the more ABA numbers appear in the drop-down list
on the data entry screen.
How do I identify the
ABA routing number for my account?
Take a look at your check. You'll see a printed
row of numbers, usually at the bottom of the check.
The ABA routing number is the nine-digit sequence
that appears between the "I:" symbols.
How do I find my account
number?
You can find your account number on your account
statement, and it's also printed on your check,
in that same row of numbers where you found your
ABA number. Your account number appears on your
check between the "IIv" symbols.
ADDING INVESTMENT ACCOUNTS
·
Which brokerages are
supported for the Funds Transfer service?
·
How do I add investment
accounts? (a step-by-step description)
Selecting
a brokerage
Providing
account information (and online account verification)
Adding
additional investment accounts
Verifying
all accounts
·
What is an ABA routing
number?
·
How do I identify the
ABA routing number for my account?
·
What if my brokerage
doesn't appear on the "Available Brokerages"
list?
Which brokerages are
supported for the Funds Transfer service?
How do I add investment
accounts to my Funds Transfer Portfolio?
Click “Add Accounts” at the top of the “Overview”
page. You'll be brought to the “Add Bank Accounts”
screen. Click “Add Investment Accounts”. You'll
be brought to the “Add Investment Accounts” screen.
Step 1--Select a brokerage
Click on the name of your brokerage if it appears
on the screen.
Step 2--Enter account information
You'll be brought to a screen asking for the information
we need to add your brokerage account. If your
account includes check-writing privileges, you'll
be asked for the ABA routing number that appears
on your check.
Online account verification: You will be
asked to supply the password and pin number you
use to gain access to your online account with the
institution.
If online account verification is not possible,
you'll be asked to complete our convenient offline
account verification process. See below
for details regarding online and offline account
verification.
When you have supplied all requested information,
click “Continue”. You will be brought to your “Overview”
page.
·
If you have completed a successful online verification,
the account will be listed under the “Enabled Accounts”
section of the “Overview” page with "Approved"
appearing in the status column.
·
If offline verification is necessary, the account
will appear under the “Accounts Requiring Verification”
section of the “Overview” page.
Step 3--Verifying your accounts offline
Each account you add needs to be verified before
it can be used for the Funds Transfer service.
The accounts that you have submitted
for the Funds Transfer Service and that could not
be verified online appear on your “Overview” page
under the “Accounts Requiring Verification” section.
·
When you've all the accounts that you wish, click
“Verify All” to initiate the verification process
for all accounts appearing in the Accounts Requiring
Verification box. (See below
for details regarding account verification.)
What is an ABA routing
number?
The ABA routing number is an identification number
assigned to each financial institution and each
branch office.
How do I identify the
ABA routing number for my account?
Take a look at your check. You'll see a printed
row of numbers, usually at the bottom of the check.
The ABA routing number is the nine-digit sequence
that appears between the "I:" symbols.
What
if my brokerage doesn't appear on the "Available
Brokerages" list?
Unfortunately, if you don't see your brokerage in
this list, you won't be able to add accounts held
at that institution to your Funds Transfer Portfolio.
Check the "Coming Soon" list to see if
your brokerage is scheduled to be added in the near
future. We're working hard to expand our roster
of affiliated brokerages as quickly as we can.
ADDING JOINT ACCOUNTS
·
How do we set up a joint
account so that both owners can use the account
in Funds Transfer services?
How do we set up a joint
account so that both owners can use the account
in Funds Transfer services?
Both owners of a jointly held account can transfer
funds into and out of the account. The account holders
must each have a separately established Funds Transfer
Portfolio. For each account owner to use the account
for the Funds Transfer service, they must follow
this procedure:
·
The first owner, Owner #1, opens a Funds Transfer
Portfolio and submits the joint account along with
all the other bank and investment accounts Owner
#1 wishes to enable for funds transfers (see Creating
a Funds Transfer Portfolio, above).
·
When Owner #1’s Portfolio is up and running and
the joint account has been verified, Owner
#1 will be able to use the joint account for Funds
Transfer services.
·
The second owner, Owner #2, follows the same procedure
to open a Funds Transfer Portfolio. When Owner
#2 submits the financial institution and account
number of the joint account, Owner #2 will
see the following message:
“This account is registered to another customer.
If this is a joint account, please enter the social
security number of the co-owner of the account.”
·
Owner #2 supplies Owner #1’s social security number
and completes the rest of the account verification
process.
Once Owner #2’s co-ownership of the account is
verified with their financial institution, the account
will become active in Owner #1’s Portfolio. At
that point, both owners will be able to use the
account for Funds Transfer services.
4. Verifying
Accounts with Your Financial Institutions
·
Online Account Verification
When
is online account verification possible?
What's
the process for online account verification?
(a step-by-step description)
What
if I don't have online access to the account?
·
Offline Account Verification
How
can I tell which accounts still have to be verified?
What's
the process for offline account verification?
Before activating your accounts to send and receive
funds transfers, we'll verify each one with the
appropriate financial institution, in keeping with
our commitment to protect the security of your accounts
and the payment system as a whole.
ONLINE ACCOUNT VERIFICATION
When is online account
verification possible?
·
You have online access to an account.
·
The account is at an institution with which we have
an online verification arrangement.
What's the process for
online account verification?
When you enter the name of your
financial institution on the “Add Bank Accounts”
screen, you'll be asked to provide the bank's ABA/routing
number and your account number.
If online verification with
the institution is possible, you'll also be asked
for the password, pin number, and user name you
use to gain access to your accounts. Click “Continue”
and you will be brought to the “Overview” page.
If online verification is successful, the
account will appear under the “Enabled Accounts”
section of the “Overview” page with the status listed
as “Approved”.
If online verification is unsuccessful, the
account will appear under the “Accounts Requiring
Verification” section of the “Overview” page.
What if I don't have
online access to the account?
Just provide your account number and ABA number,
leave all other information fields blank, and click
“Continue”. You'll be brought to the Funds
Transfer “Overview” page, and the account will appear under the “Accounts
Requiring Verification” section.
OFFLINE ACCOUNT VERIFICATION
How can I tell which
accounts still have to be verified?
The accounts that you have submitted for verification
and have not been verified appear on your “Overview”
page under the “Accounts Requiring Verification”
section
What's
the process for offline account verification?
Click the “Verify All” link on your Funds Transfer
“Overview” screen. You'll be brought to a screen
displaying your name, customer ID, and all accounts
in need of account verification.
Print this screen, and fax the printout to (408)
434-6913, along with:
- A photocopied voided check (for each bank account
to be verified)
- An account statement (for each investment account
to be verified)
- Within two business days of receipt of
your fax, we'll send you an e-mail confirming
the verification of your accounts. Go to your
Funds Transfer “Overview“ screen--the accounts
will now be located in the “Enabled Accounts”
section of your “Overview” screen.
·
How do I initiate a Funds Transfer?
· The Background : what you need to know about executing funds transfers
How do I initiate a Funds Transfer?
- Click the “Funds Transfer” tab located at
the top of your screen.
- Select the accounts you want in the “Transfer
From” and “Transfer To” sections of the page.
- Enter a transfer amount in the data field, and
click “Confirm”. You'll be brought to a Confirmation
screen where you'll see the details of your funds
transfer request.
- If everything is correct, click “Confirm”.
- Otherwise, click “Edit”. You'll be returned
to the “Funds Transfer” screen, where you can
make any necessary changes. Once you’ve made
your changes, click “Confirm”.
- Once you click “Confirm”, you will be returned
to your Funds Transfer “Overview” screen. The
details of the transfer will appear in the “Recent
Transfers” section located near the top of the
screen
THE BACKGROUND:
What you need to know about executing funds transfers
·
Are there any limits to how much I can transfer?
·
How long does it take to complete a funds transfer?
·
Under what circumstances will a transfer be unsuccessful?
·
What time will my transfer be initiated?
·
How will I know when a transfer is complete?
·
Why don't all of the accounts I've submitted appear on my
Funds Transfers pages?
Are there any limits
to how much I can transfer?
Once your accounts have been verified, you will
be able to transfer
·
Up to $2000.00 per transaction
·
Up to $2000.00 in total transactions per day
·
Up to $2000.00 in total outstanding transactions
(transfers that you've initiated but which haven't
been finalized)
·
Up to $5000.00 in total transactions per calendar
month
How long does it take
to complete a funds transfer?
Your transfer may take up to four business days
to finalize. Please note that the completion of
a transfer, including the availability of funds
in the destination account and access to the transaction
details, will depend in part upon how quickly your
institution updates your account after receiving
the funds transfer. Full details regarding your
funds transfer requests are viewable on your “Overview”
page.
The funds will be posted to your destination account
once the funds have been successfully drawn from
your source account. Your transaction remains “In
Process” for four business days from the day you
send your request. After that, the status gets
updated to “Complete,” indicating a successful transaction.
Under what circumstances
will a transfer be unsuccessful?
A transfer will be returned if it cannot successfully
be posted to your account. The most common reasons
for failed or returned funds transfers are:
·
An incorrect account number or bank ABA routing
number
·
Lack of sufficient funds in the source account
·
Exceeding the dollar limit for an individual transaction,
total transactions per calendar month, or outstanding
transfers (transfers that you've initiated but which
haven't been finalized)
You will be notified by e-mail if your transaction
is unsuccessful. Full details will be available
on your “Overview” page.
What time will my transfer
be initiated?
We will enter your transfer
into the ACH system on the business day following
receipt of your request, provided you've requested
your transfer by 4:00 p.m. Pacific Time (7:00 p.m.
Eastern Time).
If you initiate a transfer
after 4:00 p.m. Pacific Time (PT), the transfer
will be posted two business days following the request
date. Please note that all transfers requested
during the weekend (after 4:00 p.m. PT on Friday)
will be posted on Tuesday.
Depending upon the destination account’s financial
institution, it may take an additional business
day for the transaction to be reflected in the account
balance of the destination account.
How will I know when
a transfer is complete?
You can go to your “Overview” page for an up-to-date
status report on your funds transfer request.
Four business days after your request date, you
should also be able to confirm the completion of
the transaction with your financial institution.
Why
don’t all of the accounts I've submitted on my Funds
Transfers pages?
Only accounts that have been verified appear on
the “Transfer Funds” page. If verification of the
account is still pending, or if you haven't begun
the offline verification process, you'll see the
account listed under the “Accounts Requiring Verification”
section of the “Overview” page.
When the verification process
has been completed, the account will automatically
be listed under the “Enabled Accounts” section of
the “Overview” page and appear on your “Transfer
Funds” page.
·
How can I check on the
status of my recently initiated transfers?
·
What does it mean when
my transfer is “In Progress”, “Complete”, “Complete
(returned)”, or “Unsuccessful”?
·
How can I get more details on why my transactions
failed?
How can I check on the status of my recently initiated
transfers?
Click “Overview” tab near the top of the screen.
The “Recent Transactions” section on the page contains
the following information on your most recent transactions:
- The reference number of each transaction
- The date you requested each transfer
- The origin account (funds transferred from)
and destination account (funds transferred to)
of each transfer
- The dollar amount of each transfer
·
The current status of each transfer
What does it mean when my transfer is “In Progress”,
“Complete”, “Complete (returned)”, or “Unsuccessful?
·
In Progress: We have not yet received confirmation
of a successful transaction. However, you may see
an indication of the transaction in the account
balance of the source account but not the destination
account of your funds transfer.
·
Complete: The transfer is confirmed. The
transaction will be reflected in your account balances
with your institutions as a withdrawal from your
source account and a deposit in your destination
account.
·
Complete (returned): Occurs when a return
is received from the ACH system indicating a problem
with the transaction. If money was debited from
the source account, it will be returned.
·
Unsuccessful: We were unable to remove the
funds from the source account or place the funds
in your destination account. Typical causes of failed
or returned funds transfers are
- Incorrect account number or bank ABA routing
number provided during the account setup.
- Lack of sufficient funds in the source account.
If we receive return due to non-sufficient funds
(NSF) in the source account, we'll automatically
try the transaction a second time. A funds transfer
will be designated unsuccessful only after a second
NSF return.
You will be notified by e-mail
if your transaction could not be completed.
How can I get more details
on why my transactions failed?
If a transaction is unsuccessful, “Unsuccessful”
or “Returned” will appear in the “Status” column
of the “Overview” screen. Click on this link to
receive full details about the reason why the transaction
was unsuccessful.
How do I change my contact information?
Click the “Edit Profile” link found at the bottom
of every Funds Transfer screen. Edit the data entry
fields as necessary, and click “Update”.
How do I change my Funds Transfer password?
To change your password:
- Click the “Edit Profile” link located at the
bottom of every Funds Transfer page.
- Click the “Edit Security PIN” button located
located on the page.
- Enter in your existing PIN, and enter your new
PIN in twice. Click “Submit”.
What is Pay People?
Pay People is a convenient service that allows
you to send and receive personal payments of up
to $250 per payment. For example, you can send
money to your kids who are away at college.
How is Pay People different from the Funds Transfer
service?
The Transfer Funds service is used to move funds
between your own financial accounts. The Pay People
service is used to make and receive payments to
businesses and individuals.
Are there any limits to the amount of money
I can send via my Pay People service?
For security reasons, your financial
institution places the following limits on Pay People
transactions:
·
Up to $250.00 per payment
·
Up to $250.00 in total payments per day
- Up to $250.00 in total outstanding payments
(payments that you've initiated but which haven't
been finalized)
- Up to $500.00 in total payments per calendar
month.
To whom can I send payments?
You can send payments to anyone who has an e-mail
address and a checking or savings account.
From whom can I receive payments?
You can receive payments from
anyone who has an e-mail address and a checking
or savings account.
Which of my accounts can I use to send or receive
payments?
You can send payments from, and receive payments
into, any of your host financial institution checking
and savings accounts.
Will I be charged for Pay People online payment
transactions?
A nominal fee of $1.75 per Pay People payment.
This amount will be deducted from the account
you use for your payment.
Getting started--Setting up
the Pay People service for sending payments
Do I have to enable each of my host accounts
individually for use with my Pay People service?
No. When you activate your Pay People service,
you'll find that all of your checking and savings
accounts are already enabled for sending and receiving
payments via the Pay People service.
What is the Security PIN?
This is an added layer of protection for this service.
When you first try to initiate a payment or transfer,
you will be asked to designate a four-character
Security PIN. This code must be 4-digits long and
can consist of numbers and/or letters and is case
sensitive. Enter the code you've selected twice.
(Thereafter, you'll only have to enter the code
once.) Please keep this Security PIN in a secure
place. You will need it every time you want to
execute a payment or transfer.
Is my transfer security PIN the same as my payment
security PIN?
Yes. The same PIN is used for both payments and
transfers.
Can I remove accounts from this service?
You can remove any account that is held at an institution
other than the institution providing you this service.
Go to your “Overview” page and click "Remove."
You'll be asked to confirm that you want to remove
the account.
Does the person I’m sending money to have to
be registered for this service?
No. You can send money to anyone
with an e-mail address and savings or checking account.
They will receive an e-mail directing them to a
web page where they can register to receive payments.
Can I add additional email addresses for use
with the Pay People service?
Yes. To add one or more new e-mail addresses:
- Click the “Edit Profile” link located at the
bottom of every Funds Transfer page.
- Click the “Add E-mail” button. Enter a new
address in the appropriate field and click “Submit”.
- You will have to validate this e-mail address.
An e-mail will be sent to this address containing
a validation code. Click on the “Edit Profile”
link located at the bottom of every Funds Transfer
page.
- Click the “Awaiting Validation” link located
next to the e-mail address you are validating.
- Enter the validation code provided in the e-mail
and click “Submit”.
How do I validate my newly added email address?
- An e-mail will be sent to this address containing
a validation code. Click on the “Edit Profile”
link located at the bottom of every Funds Transfer
page.
- Click the “Awaiting Validation” link located
next to the e-mail address you are validating.
- Enter the validation code provided in the e-mail
and click “Submit”.
How do I deactivate email addresses from the
service?
- Click on the “Edit Profile” link located at
the bottom of every Funds Transfer page.
- Click on the “Delete” link located next to the
e-mail address you wish to delete. NOTE: You
will not be able to delete your main e-mail address.
- Click “Yes” to remove the e-mail address.
How do I change my main e-mail address?
- Click on the “Edit Profile” link located at
the bottom of every Funds Transfer page. Your
main, or default, e-mail address will appear with
the word "main" in bold print next to
it.
- To select a new main address, click the "Change
Main" link on the page and follow the directions.
When you've completed this process, you will receive
a confirmation e-mail.
How do I initiate a Pay People payment?
·
Click on the “Pay People” tab located at the top
of every Funds Transfer page.
·
On the “Pay People” page, you will be asked for
the following information:
·
Recipient's Full Name: If you are sending
payment to a particular recipient for the first
time, enter his or her first and last name in this
field (i.e. Bob Smith)
OR
If you have previously sent a Pay People payment
to this person, his or her name should appear in
the Recipient's Full Name drop-down list. Simply
select the appropriate name from this list.
·
Recipient's E-mail Address: Type in the full
e-mail address of the payment recipient.
·
From Account: This is a drop-down list of
your host accounts that are eligible for use with
Pay People. Select the account you'd like to use
to make your payment.
·
Shared Secret Code: This is a code that you
select to ensure that no one but your intended payee
will be able to collect your payment. Select a
single alphanumeric code (no spaces or symbols)
consisting of four to twenty characters. Your recipient
will have to know this code in order to collect
the payment, so be sure to communicate the code
to your payee as soon as possible. No one but you
knows this Shared Secret Code and only you can share
it with your payee.
·
Message to the Recipient: Enter a message
of up to 200 words. Think of this as the "memo"
section on a paper check. This message will appear
on the e-mail that your payee will receive announcing
your payment.
·
Amount: Enter the amount of your
payment.
·
On the bottom of the “Pay People” page you will
see the following information:
·
Your Remaining Monthly Limit: The figure
listed here represents the amount of money you are
currently eligible to send, based on the limit imposed
by your financial institution.
·
Charge: Is a nominal fee of $1.75 per Pay
People payment. This amount will be deducted from
the account you use for your payment.
·
Click "Confirm" to send your Pay People
transaction, or "Cancel" if you decide
not to send payment at this time.
What is the Shared Secret Code and how does
it work?
The Shared Secret Code ensures that the intended
recipient collects the payment. Each Pay People
payment has a Shared Secret Code, which is known
only to the payer and the recipient. The payer
enters the Shared Secret Code when initiating the
transaction, and the recipient must supply the same
code to collect the payment. The Secret Code must
be a single alphanumeric "word" (no spaces
or symbols) of from four to twenty characters.
No one but you knows this Shared Secret Code and
only you can share it with your payee.
What happens if the recipient doesn't enter
the Shared Secret Code correctly?
The person receiving the Pay People payment has
three chances to enter the Secret Code correctly
when attempting to collect payment. After the third
incorrect attempt to enter the Code, the recipient
will be offered the following choices:
- The recipient may click on a link that will
cause an e-mail to be sent to the sender, alerting
you of the problem and asking that you resubmit
your payment transaction (see "Resubmit"
instructions, below). You can either resubmit
the original Shared Secret Code or create a new
one. Be sure to contact the recipient to confirm
the Shared Secret Code of the resent payment.
- The recipient may also choose to cancel the
transaction at this time. On the “Overview” page
they can click the “Cancel” link located next
to the transaction in question. If the transaction
is cancelled, an e-mail notification will be sent
to the payment sender and the funds will be returned
to the sender’s account within the next 2 business
days.
How do I resubmit a payment?
To resubmit a pending payment, simply go to your
“Overview” page and click on the "Resubmit"
link next to the transaction in question. You'll
be brought to the “Make Payments” screen for the
transaction. Enter a Shared Secret Code. You may
choose to resubmit the original Shared Secret Code
or create a new one. Click "Submit."
The payee will receive an e-mail notification that
the payment has been resent. Be sure to contact
the payee to ensure that he or she knows the correct
Shared Secret Code.
Can I cancel a pending Pay People transaction?
Yes. Click on the “Overview”
tab. Find the transaction you wish to cancel under
the “Recent Transactions” section of the “Overview”
page. Click the "Cancel" link located
next to the transaction in question. You will be
asked to confirm your cancellation. Click "Yes."
The funds will be returned to the payment’s source
account.
How will I know when my Pay People payment has
been processed?
Click on the “Overview” tab at the top of each
Funds Transfer page. Your new Pay People payment
will be listed under the “Recent Transactions” section.
You'll also find the same transaction listed on
your “History page” under the “Payments Made” section.
When will the payment recipient be able to collect
the payment?
Pay People payments are generally
available for your payee to collect within two to
three business days from the day you submitted your
request.
How will the payment recipient be notified that
I have sent them a payment?
The payment recipient will receive an e-mail
notifying them of your payment. The e-mail will
include instructions on how to collect the payment.
Don't forget to contact your recipient separately
to pass along the Shared Secret Code for your payment
transaction.
How am I notified when the payment recipient
has collected my payment?
Each of your recent Pay People transactions is
listed on both your “Overview” page and on your
“History” page. The notation in the Status column
for the transaction on both of these pages will
change to "Complete" when your recipient
has collected the payment. You'll also receive
an e-mail when your payee has initiated the process
of collecting your payment.
How long does the recipient have to collect
my payment?
The recipient must complete the collection process
within 30 days of receiving email notification of
your Pay People payment. If there has been no response
from your payee, the funds are automatically returned
to the source account.
What happens if the email notifying the payee
of my Pay People payment is undeliverable?
If the Pay People payment notification e-mail is
undeliverable, you will receive a return e-mail
notifying you of the problem. This problem most
frequently occurs because the sender has entered
a misspelled or otherwise incorrect e-mail address
on the “Make Payments” page.
To correct or change your recipient's e-mail address,
go to your “Overview” page. Find the payment
in the “Recent Transactions” section. "E-mail
Undeliverable" should appear as a link in the
“Status” column. Clicking on this link will bring
you to the "Make Payments" page for the
transaction. Re-enter the e-mail address of your
payee. Click "Submit". We'll send out
new e-mail notifying the payee of your Pay People
online payment at the revised e-mail address.
Will the recipient receive email reminders during
the 30-day period?
Yes. We will send out an e-mail reminder to the
payee 2 days after our initial e-mail notification.
We will also send you an e-mail if the recipient
has not collected payment seven days after the original
notification.
What happens if the recipient doesn't collect
the funds within 30 days?
The Pay People payment will be automatically cancelled
and the funds will be returned to the source account.
You will receive an e-mail notification that this
has occurred, and the “Status” column for this transaction
on your “Overview” and “History” screens will change
from "Awaiting Collection" to "Funds
Returned."
What happens if I try to send payment from an
account with insufficient funds?
If you attempt to send a Pay People payment
from an account with insufficient funds, the payment
is stopped. You will receive an e-mail informing
you of the situation and your account will be temporarily
suspended from use with the Funds Transfer service.
We will then resubmit the payment once automatically.
If the payment goes through the second time, we'll
send you a follow-up e-mail to let you know, and
the account will be reinstated for activity. If
the payment does not go through on the second try,
you will receive an e-mail informing you of the
situation. This e-mail will include contact information
needed to reactivate your account.
I've received an email informing me that my
transaction did not go through but which doesn't
specify a reason. What happened?
There are a variety of situations involving incorrect
information or other problems that will prevent
the completion of a Pay People payment. The e-mail
you've received contains a link to your “Overview”
page. You'll see the reason for your problem displayed
on this page. Please contact your financial institution’s
customer service for assistance.
I’m not registered for the Funds Transfer service,
how do I collect a Pay People payment?
The e-mail you've received contains a hyperlink
that will take you to the online Collect Payment
Registration Form. You'll need to fill out this
form to establish an account so that you can receive
personal payments by e-mail via Pay People.
- User Name, Password: You'll be asked
to select a user name (6 to 16 characters, numbers
and/or letters) and a password (6 to 16 characters;
at least one number and at least one letter).
- Personal Information: You’ll also be
asked for some personal information including
your name, address, social security number, telephone
numbers and e-mail address.
- Account Setup: This is where you'll designate
the checking or savings account into which you'd
like to deposit the Pay People payment you've
received. Enter the name of your bank, your account
number (to ensure accuracy, you're asked to enter
the account number twice), and your financial
institution’s 9-digit routing number. You can
find your financial institution’s routing number
on the bottom of your check. There is a graphic
on the page that demonstrates where the routing
number can be found.
Review and Submit: You'll see a link that
will take you to the Terms of Use for the service.
Check the box that indicates you've read this agreement.
Once you've done so, click "Submit."
You'll be taken to the “Receive Payments” page,
where you will complete the process for receiving
your Pay People online payment.
I’m registered for the Funds Transfer service,
how do I collect a Pay People payment?
Click on the “Pay People” tab located on each of
the Funds Transfer pages. Click on the “Receive
Payments” located at the top of the page. Here
you'll find a listing of all your pending Pay People
payments. For each payment, you'll see the date
the payment was sent, the e-mail address of the
payer, and the dollar amount of the transaction.
To collect a payment:
·
Click on the selection box to the far left-hand
side of the payment(s) you wish to collect.
·
Enter the Secret Code for each selected transaction.
The payer created this code at the time the transaction
was sent. If you don't know the Shared Secret Code
for this transaction, contact the person who is
sending you the payment.
Please note that you will have three tries to enter
the Secret Code correctly for each transaction.
If you enter the Shared Secret Code incorrectly
on your third try, the sender will receive an e-mail
with the alert that you have been unable to enter
the Secret Code successfully. The e-mail will suggest
to the payer to return to the transaction on his
or her History screen and re-enter the Shared Secret
Code.
·
For each pending payment, you'll see a drop-down
list on the right-hand side labeled "Select
Account" containing all of the accounts enabled
to receive Pay People payments. Select the account
you wish to use for the current transaction(s).
·
Click "Confirm." You will be brought
to a confirmation screen that will display the relevant
information regarding your transaction(s). Please
review this information carefully. To change any
of the details of your transaction(s), click "Edit."
You'll be returned to the previous screen. If everything
is correct, click "Collect Payment."
- You will be sent an e-mail confirming your collection
of each payment. The person who sent each payment
will also receive an e-mail confirmation at this
time.
How long does it take for the funds to be deposited
to my account once I have accepted the payment?
The funds will be deposited
to your account within the two business days.
How long do I have to collect a Pay People payment?
You have 30 days to collect your payment. If you
do not collect the payment within the 30-day limit,
the payment will be cancelled and the funds will
be returned to the payer's bank account.
What is the Shared Secret Code and how does
it work?
The Shared Secret Code ensures
that the intended recipient collects the payment.
Each Pay People payment has a Shared Secret Code,
which is known only to the payer and the recipient.
The payer enters the Shared Secret Code when initiating
the transaction, and the recipient must supply the
same code to collect the payment. The Secret Code
must be a single alphanumeric "word" (no
spaces or symbols) of from four to twenty characters.
No one but you knows this Shared Secret Code and
only you can share it with your payee.
What if the payment recipient doesn’t enter
the Shared Secret Code correctly?
The person receiving the Pay People payment has
three chances to enter the Secret Code correctly
when attempting to collect payment. After the third
incorrect attempt to enter the Code, the recipient
will offered the following choices:
- The recipient may click on a link that will
cause an e-mail to be sent to the sender, alerting
you of the problem and asking that you resubmit
your payment transaction (see "Resubmit"
instructions, below). You can either resubmit
the original Shared Secret Code or create a new
one. Be sure to contact the recipient to confirm
the Shared Secret Code of the resent payment.
·
The recipient may also choose to cancel the transaction
at this time. On the “Overview” page they can click
the “Cancel” link located next to the transaction
in question. If the transaction is cancelled, an
e-mail notification will be sent to the payment
sender and the funds will be returned to the sender’s
account within the next 2 business days.
I've received an email informing me that a payment
I've received and deposited cannot be completed
because my account information is incorrect. What
should I do?
You will receive this message when the information
you supplied when adding an account to collect you
payment is incorrect. Go to the Funds Transfer
service and click on the “Overview” tab. The status
of the transaction will be shown as "Resubmit
and Cancel" in the “Payments Received” section
of the “Overview” page. Find the account in question
under the “Accounts Set Up to Collect Payment” section
on the “Overview” page and click the “Remove"
link. Next, click the “Add Accounts” tab and resubmit
the account, being sure to double-check all information.
Once this process has been completed, click "Resubmit"
next to the transaction on the “Overview” page,
select the correct receiving account and follow
the simple instructions.
Once you have completed this process, the funds
should arrive at your account within two business
days.
Please note that if the resubmitted account information
is still incorrect, the transaction will be cancelled
and the funds returned to the sender's account.
If this occurs, both the sender and recipient will
receive e-mail notification.
Please note that if the resubmitted account information
is still incorrect, the transaction will be cancelled
and the funds returned to the sender's account.
Both the sender and the recipient will receive email
notification should this occur.
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