CPM Federal now offers you an easy way to transfer and receive money to and from anyone you know. Not only is this service easy to use, it's FREE to sign up for and transfers can be made between accounts in as little as one business day.
How It Works
|Sending Payments ▼||View snapshot|
To send money to a recipient’s account, users provide the recipient’s banking information. Popmoney users can add this information to existing contacts by editing the contact’s details on the Contacts page. Alternatively, the user can enter this information while creating a new contact. After entering the recipient’s first name, last name, and an optional nickname, the sending user can select the Bank Account option. Popmoney will prompt the sender to provide the recipient’s ABA routing number and account number, and will then allow the sender to send payments directly to the recipient’s account. The recipient of the payment does not have to take any action to receive the payment; the payment is automatically deposited into the recipient’s bank account using the information provided by the sender.
|Receiving Payments ▼||View snapshot|
Upon receiving a Popmoney payment, users are notified of the pending payment by email or SMS text message. Recipients who are already registered users of Popmoney receive their payment through their financial institution; alternatively, if the recipient hasn’t yet signed up for Popmoney, they are directed to Popmoney.com.
Upon accessing Popmoney to receive their payment, users will find a notification on the To Do List. From the To Do List, the recipient can choose “Deposit,” and then select the appropriate linked banking account for deposit of the payment. Additionally, the user can configure Automatic Deposit for this account, and have all future payments deposited to the specified account.
|Future-Dating and Recurring Payments ▼||View snapshot|
Users will be able to schedule future-dated and recurring payments. Future-dated payments can be scheduled for processing up to one year in advance.
Recurring payments can be scheduled using a number of different recurring frequencies, such as weekly, bi-weekly, or monthly. Recurring payments can also be configured with flexible durations: a Popmoney user can specify a sum-total amount to be paid, a particular number of payments to be made, or a future date upon which the payments should end. Alternatively, the recurring payment can continue to process indefinitely.
|eGreetings ▼||View snapshot|
The eGreetings feature of Popmoney allows a user to personalize an email payment with any one of the Popmoney electronic greeting card templates. Upon selecting the eGreetings link while scheduling an email payment, the user is presented thumbnails of dozens of unique eGreetings templates, many of which relate to special occasions. Upon receipt of the payment, the recipient will find the sender’s personal message and payment details wrapped in the chosen electronic greeting card template, adding a personal touch to the Popmoney payment.
|Importing Contacts to Popmoney ▼||View snapshot|
With Popmoney, users will find that they can now import contacts from Yahoo!®, Hotmail®, and Gmail®. Upon navigating to the Contacts page in Popmoney and selecting Import Contacts, the user is prompted to select and authenticate to the service of choice. A table is presented showing the first name, last name, email, and phone information for each individual in the user’s address book; checkboxes allow the Popmoney user to easily choose which contacts should be imported into Popmoney. Sophisticated contact recognition ensures that contacts which already exist in Popmoney are flagged appropriately for the user in order to avoid contact duplication.
|Contact Management ▼||View snapshot|
Popmoney incorporates a number of new features related to Contact Management. On the Contacts listing, users can see the last payment made to each contact alongside their contact’s email and mobile number information; additionally, users can update this contact information within the Popmoney system from this page. In the event a user has added recipient’s banking information, this information will also be presented in masked form, e.g. “Account xxxxx1234”.
|Member Support ▼|
If you have questions associated with your Popmoney transaction(s), you may call 800-877-8021 and speak directly to a Popmoney representative.
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