MIDVALE, Utah, June 21, 2011 -- Ally Bank has begun offering Popmoney, a service that allows customers to send money to other people via e-mail or text message.
"We're focused on finding the best ways to help our customers use their money, and this person-to-person payment service provides a convenient way to do so," said Diane Morais, Ally deposits executive.
To use Popmoney, customers log in to their Ally Bank account and provide either the recipient's e-mail address, mobile number or bank account information. The recipient will get a text or e-mail to go to popmoney.com/ally and follow the steps to deposit the money online. If a bank account is provided by the sender, the money is sent directly to the recipient's account.
Popmoney can be used for one-time payments and gifts, or can be scheduled for recurring payments. Some specific ways customers can use Popmoney include:
1. Sharing is caring: Popmoney can be used to contribute to a friend or colleague's fundraising efforts or other charitable initiatives.
2. Chipping in: From birthdays to bridal showers, Popmoney allows for an easy way to go in on a present or participation in celebratory activities with others.
3. Tickets for ten, please: Popmoney can take the burden out of booking travel or accommodations when vacationing with friends or family. Customers can text or e-mail the cost of plane fare and have one person book the whole trip.
4. Safe sending: Popmoney offers a secure way to send funds and can help reduce the risk of stolen checks or lost cash.
5. Settling with the babysitter: Parents can text babysitters their hard-earned cash on the spot as they release them from child duties for the night.
6. Dear Dad: Parents can e-mail money to their kids to keep them liquid while away at college.
About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposits, no monthly fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years and IRA Plans and products. Follow us on Twitter @allybank or at facebook.com/allybank. Member FDIC.