MoneySend |
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Frequently Asked Questions General Questions What is MasterCard MoneySend? MoneySend is a person-to-person payments service that links your everyday MasterCard payment card or bank account to your mobile phone. How does this service work? Once you have registered with MoneySend and your designated account is linked to your mobile phone number, you can send or receive funds anytime, anywhere. Who can use this service? Anyone with a working U.S. mobile phone and a participating bank account can use MoneySend. It works to and from any 10-digit, U.S.-based mobile phone. Where can I use this service? You can make a MoneySend transaction anywhere within the United States. Is it safe? MoneySend is more secure than your checkbook and safer than the cash in your wallet. Using the service requires that you enter your MoneySend PIN. Your personal and financial information is never stored on your mobile device or sent over the mobile network. What if I lose my phone? If your mobile phone is ever lost or stolen, your MoneySend account is safe because it is protected by a pass code. It is recommended that you call your mobile provider for a phone replacement. Once you get your new phone, as long as it has your original MoneySend designated phone number on it, your MoneySend service will be right there waiting for you. What if my card gets lost or stolen? Just call your bank to report the lost or stolen card. When the new card arrives, log on to the MoneySend website to update your profile. Is my account information stored on my phone after I register? No. Your account information is securely stored when you sign up and is not transmitted when you send or receive money. Does everybody in my network need to bank with the same bank? No. Senders and receivers can use either their existing MasterCard or a bank account, provided the bank offers MoneySend. Alternatively, they can use a MoneySend pre-paid account. Sending Money Can I send money straight from my account? Yes. The best part of MoneySend is that you can send and receive funds using your everyday account, whether it’s a credit, debit, prepaid, or other financial account. No secondary funding account is required. Is there a minimum or maximum amount I can send? There is no minimum. The maximum amount of money you can send per transaction is set by your bank. The maximum amount of money you can send with MoneySend is $2,500 per calendar month. Are there any restrictions on who I send the money to? The person you send money to must be 18 or older, be a U.S citizen, and have a ten-digit U.S. mobile phone number that works with MoneySend (all major carriers will work). Beyond that, there are no restrictions. How much does it cost to send money? Your bank may charge a small fee for sending money directly from your account. What if I don’t have an established bank account? If you do not have a credit, debit, prepaid or other financial account, you can choose to open a separate prepaid account, which can either be “virtual” or come with a physical card. With a physical card, there is a small, one-time activation fee. There are also fees associated with maintaining a prepaid card. Click here for full details. Receiving Money How do I know there is money being sent to me? You will receive a text on your mobile phone when someone sends you money, and if you have signed up for MoneySend you can also check online. Will I be charged for receiving money? No. There is never a charge for receiving money. How soon can I get my money after I have received notice of pending funds? Once your account is set up, it’s usually as fast as a few seconds, but never longer than a business day in rare cases for the funds to be credited to your account. |