Bad dealings on this forum ?

[Big Six]

Originally Posted by stlcardsfan

My bank is coming out with a new electronic payment program this year. If you are signed up with online banking you will be able to send and receive payments to and from other people's bank accounts. No fees other than if they charge you for online banking, which my bank doesn't. There's a name for this new program which escapes me now. Essentially an ACH payment between banks. Might make this MO business ( and some other forms of payment) obsolete. Obviously there must be an element of trust between sender and recipient because you have to exchange account information.

Shameless plug so here goes. What you are describing is Zelle and it is a new Person to Person (P2P) payment solution. I work for the company that came up with it...Early Warning Services. It is a fantastic solution and super quick...available through over 80 financial institutions via their Online/Mobile banking capabilities. There is even a standalone app if your Bank or credit union isn’t signed up. The caveat though is only use it to transact with folks you know or trust. You send money via Zelle to someone you don’t know, it’s as good as dropping cash in an envelope...bye bye cash. Hope you folks try it out...good luck and check out www.zellepay.com if you want more information. M@tt McC@rthy

Ps...you don’t exchange account information...it relies on email or mobile phone number to connect folks.

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