Pay a Person, fast and secure
Benefits of Pay a Person
Sending money, simplified. Transfer funds directly to friends, family, or anyone at all, securely in digital banking,
- Send money to anyone with just their email or mobile number.
- Money moves directly from bank account to bank account.
- Your recipient can choose when they'll receive their funds, real-time or 1-2 business days via ACH.
- Recipients don't have to have a UCU account.
Using Pay a Person
- How P2P payments work about How P2P payments work P2P is designed for payments made between individuals, replacing the need for cash, checks, or separate payment apps. The recipient can be anyone in the US with a checking or savings account at any credit union or bank; they do not need to be a member of UCU. You will only need their email address or mobile phone number to send, request, and receive payments.
- Different ways to send P2P payments about Different ways to send P2P payments
There are two ways to send a P2P payment:
Email address: Your contact will receive an email with instructions on how to direct the payment into their bank account.
Mobile number: A text message will be sent to the recipient with instructions on how to direct the payment into their bank account.
- Receive P2P payments about Receive P2P payments
P2P payments are electronic and can be sent in real-time or via ACH (Automated Clearing House) in 1-2 business days. Recipients can select how quickly they want to receive their payment.
ACH payments incur no fees. Real-time payments incur a $1 fee for the recipient, deducted from the funds sent. A $1.01 minimum payment is required to send funds to a recipient.
- Scheduling and claiming P2P payments about Scheduling and claiming P2P payments
When a payment is sent, the sender and the recipient are both notified when it is delivered. Payments can be delivered instantly or scheduled on a future date and set up as recurring or one-time payments.
When a payment is scheduled, a notification will be sent to the recipient, prompting them to claim their money. If the recipient does not claim the payment, both the sender and the recipient will be notified, and the payment will be canceled. If this happens, the payment will need to be sent again.
- UCU Member to Member transfers about UCU Member to Member transfers
You can send and receive funds to other UCU member-owners in real time using Member to Member (M2M) transfers.
To use M2M, go to 'Make a Transfer' in digital banking and select 'Add a Member to Member Account.' The other UCU member can provide you with their account number information or an 'M2M Code', a secret passphrasethey create.
You can also create your own 'M2M Code' and provide it to the other UCU member, allowing them to send funds to your account.
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- How do I use Pay a Person? Click On How do I use Pay a Person? To access P2P, log into digital banking, select 'Make a Transfer,' then 'Pay a Person.' Enter their phone number or email and the amount you want to send or request. Once processed, view the completed transaction in your University Checking Account.
Learn More - What is a P2P? Click On What is a P2P? P2P is a digital payment service that replaces the need for carrying cash, downloading a separate payment app, or writing a check to pay an individual. In digital banking, you can easily pay using the recipient’s email address or mobile phone number.
- Are UCU’s Pay a Person payments secure? Click On Are UCU’s Pay a Person payments secure?
Yes, P2P payments help keep your financial information safe by eliminating the need to share banking details. University Credit Union’s Pay a Person service is part of our highly secure banking platform. Learn more about how we keep your data safe, plus other safety tips.
- What are the requirements for using UCU’s Pay a Person? Click On What are the requirements for using UCU’s Pay a Person? To use UCU's Pay a Person , you need your recipient's email address or mobile phone number. You also must have an active checking account with UCU.
- Does using Pay a Person cost anything? Click On Does using Pay a Person cost anything? UCU members pay nothing to use P2P. Recipients of payment will not pay a fee to receive funds via ACH and only a $1 fee for real-time transactions. You must send a minimum of $1.01 to send funds to a recipient.
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University Credit Union offers membership to employees, students and alumni of UCLA, Pepperdine University, Loyola Marymount University, Santa Clara University, Saint Mary's College, UC Irvine, UC Davis, UC San Diego, Georgia Tech, University of Texas at Arlington, Mount St. Mary's University, Chabot College and Las Positas College, West Coast Conference Universities, The Big West Universities, Western Athletic Conference Universities, Southland Conference Universities, and other universities throughout California. UCU offers a variety of products and services including checking accounts, credit cards, home mortgages, auto loans, personal loans, commercial loans, insurance, investments, as well as digital banking.