Send Money (Peer-To-Peer) FAQs

When is the money removed from my account?

• The money will be debited at approximately 5:00 p.m. the day your recipient accepts the transaction.

Do my contacts have to accept every transaction I send them?

• No, they must go through the acceptance process during the first transaction, which entails setting up how they wish to receive the funds (checking account or debit card). All future transactions are automatically deposited into their account.
• Your contacts will receive notifications every time you send them money.

Can my contact change their bank account information?

• Yes! Your contact will receive a notification either text or email. They can follow the link to update their banking information.
• Transactions remain scheduled until the recipient accepts the payment.
• The transaction will remain within your scheduled transactions in the Send Money widget until your contact accepts the funds.

How long does the recipient have to accept the funds?

• The Contact has 7 days to accept the funds. Several notifications are sent reminding the contact to accept the funds.
• If the contact does not accept the funds, it will be canceled within the Send Money widget and the transaction will have to be rescheduled.
• If the funds are not accepted the money will not be debited from the member’s account.

What account types can be used to send money?

• Transactions can be executed with any Consumer or Business checking or saving shares. (Exceptions: CDs, HSA, UTTMA, Rep Payee, and Coverdell ESA cannot be used.)
• Members cannot send money from a loan product or credit card.

Are there any fees?

• There are no fees to Unitus members to send money through the Send Money widget.

How long does it take for my contact to receive the funds?

• Once your contact accepts the funds, they will be received the following business day in the contract’s account. It may take 1-2 days for the funds to hit the recipient’s account depending on the other Financial Institution’s settlement practices.

Where can I learn more about the safety risks involved in Peer-To-Peer (P2P) products?

• You can learn how to protect yourself from P2P scams here.