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Justin Pritchard

What is Popmoney?

By July 20, 2011

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You may hear that one of your friends paid you with Popmoney. Is this one of those scams designed to steal your bank account information?

Popmoney is legitimate (but you should of course make sure the text or email message is also legitimate -- from Popmoney, that is). It's a way to send money electronically, and it's gaining popularity as more and more banks make it available to customers.

What happens when you need to pay a friend? Perhaps you've shared a meal, or you need to pitch in for a group activity. You can write a check, pay with cash, or calculate some portion of the bill that you'll pay with plastic. Another (perhaps easier) option is to have one person pay while everybody else settles up, and electronic payment services make that easier.

It's getting a little bit easier every day. PayPal has been around for a while, and Popmoney is another option.

Further reading:

Comments
December 7, 2012 at 1:41 pm
(1) Mike says:

BEWARE POPMONEY.COM!!!! I had never heard of this outfit until the fraudulently removed $500+ from my Bank Acct. After 3 days of being passed off from one person to another, and waiting two days for call back, I was finally told my money was gone. They said they are only the “middleman”, so I’m on my own. Well, they say I’m out the $$, but we’ll see what a Jury decides. My opinion is DON”T TRUST these people with anything of Value, if you ever want to see it again! A Disabled Vet in Oregon

February 12, 2013 at 2:54 pm
(2) Ben says:

Popmoney is perfectly safe and an efficient way to send payment.

April 18, 2013 at 8:30 pm
(3) Michael says:

My mom tried to send me money through this service. When I went online to set up an account, they couldn’t verify me, so I asked them to delete my profile. Following this request, they sent me an email that was intended for someone else. Don’t trust them with private information

April 26, 2013 at 9:53 am
(4) Pax says:

Number 1 & 3: You must be doing something wrong. As an IT person and having used PopMoney service through my institution, I have never been happier with this solution. Easy, fast, ontime..what can you ask for?

June 1, 2013 at 2:16 pm
(5) happilyme says:

Well it is legit. Safe? I suppose until proven otherwise. Fast? He**2theNo!
if i had to describe it in street terms, it’s money flipping. My Bank S**Trust has 2 options: 1. enter the target account info with routing number and voia it should go straight there. Even better if the bank also uses Pop Money (might be required). Only thing is they say it will take 3 days to get there… directly! no explanation of why so long. 2: to telephone number or email address for pick up id and the receiver can enter their info. Which is advertised as being a 1-3 day option. Beware this cuz that person needs to have a STAR participation on their debit card OR else it’s back to the 3 day wait, of which has now turned into 7 days.
No matter what it’s hardly what you call fast. In the meanwhile, the money is out of my account and in the “flip-mode”. No wonder banks recovered so quickly from their last big scheme that required our assistance for bailout. So many tricks, so much time so many suckers. Free Checking… banks do nothing for free. Wake up and smell the coffee they offer

August 28, 2013 at 8:11 am
(6) Matt says:

Run away from POPMONEY! It requires both the sender AND the receiver to complete a questionnaire with an inordinate number of background questions before you can make a transaction. I understand necessary security steps but this one goes way overboard. Additionally, POPMONEY is slow as molasses. Four days to get the money!

September 4, 2013 at 4:58 pm
(7) C DeLutis says:

Its a scam. RUN away from this company. They hold your money for an unREASONABLE amount of time (making money off of you) and send when they damn well please. Neither bank or POP money customer service cares. Its a WASTE OF TIME!

September 9, 2013 at 1:08 am
(8) C Shell says:

Its a !@#$% SCAM…STAY AWAY!

October 1, 2013 at 12:18 am
(9) Chris says:

Popmoney payments do not go into an interest bearing account. This means that they do not make money off of payments that are held to be claimed and deposited. If a payment is done correctly, then the payment will either be received in 1 or 3 business days from the date that the payment was initiated (depending how the sender sent the payment).

October 22, 2013 at 8:02 pm
(10) JJ says:

Im going through the same sh@# as everyone , money is nowhere to be found and it’s been a week already, SO F@##$ng Pi$$ed

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