Mobile P2P FAQs

Q. What are P2P Payments?
A. An easy, secure way for you to make payments to another person (payee) via your mobile device using their email address.

Q. How do I send payments?
A. Log in to Mobile Banking and choose “P2P” from the menu.

Making a payment to a new payee:

• Select “Person to Pay – Select Payee.”
• Choose “Add Person to Pay.”
• Add payee's name, nickname (not required), email and a “keyword.” You will provide this keyword to the payee once you have set up the payment. They will enter this keyword during the payment retrieval process.
• A “Payee Confirmation” will display.
• Select “Pay From Account – Select Account…” and choose from the list provided.
• Add payment amount.
• Select the “Process Date.” (The date to send the payment.) The estimated delivery date will display.
• Add a Memo. You can add a personal message to payee that will appear on the email sent to payee notifying them that you are requesting to send them a payment. (A memo is not required).
• Once you hit submit, an email will be sent to the payee informing them that you would like to send a payment and providing instructions on how to accept the payment. This is where they will add the keyword you provided them.

Making a payment to an existing P2P payee:

• Select “Person to Pay – Select Payee” and choose from the list provided.
• Select “Pay From Account – Select Account…” and choose from the list provided.
• Add payment amount.
• Select the “Process Date.” (The date to send the payment.) The estimated delivery date will display.
• Add a Memo. You can add a personal message to the payee that will appear on an email sent to payee notifying them that you are requesting to send them a payment (A memo is not required).
• An email will be sent to payee informing them that you would like to send a payment along with instructions on how to accept payment. This is also where they will add the keyword you provided them.

Q. Do I need the payee's bank account information to send a P2P Payment?
A. No. All you need is their name and valid email address so you can set them up as a payee and send the payment. The payee will add their own financial institution information once they receive the email informing them of your payment.

Q. Does the payee have to have a First Ipswich Bank account to accept a payment?
A. No. The payee does not have to have a First Ipswich Bank account. They must have a valid U.S.-based bank account to accept payments.

Q. Will my account information be shared with the payee?
A. No. Your bank account information will not be shared. The payee will only see your name and any personal memo you sent with the payment request.

Q. What happens if a payee does not accept payment?
A. After several days you will receive an email informing you that the payee did not complete the setup process to accept payment. The payee will be removed from your payee list and any payments to them will not occur.

Q. What are my payment delivery time/date options?
A. Assuming you are paying an established payee, the standard delivery is the next business day provided you make your payment request prior to the 3 pm ET cutoff time. Payments made later than 3 pm ET will be sent in two business days. (Note: Newly set up payee payments may take longer.) You can also set up future scheduled payments.

Q. Can I send payments internationally?
A. It doesn't matter where the person is located – just where their bank is located. Payments can only be made to a U.S.-based bank account. If your Payee has a U.S.-based bank and is travelling overseas, you can make a payment to them.

Q. Are there fees associated with P2P payments?
A. No (other than your phone/data carrier's service charges).

Q. How do I cancel a payment?
A. To cancel a payment you must log in to Online Banking and go to the Bill Pay to review your scheduled payments. You must cancel the payment prior to the 3 pm ET cutoff time on the day it is schedule to be sent.

Q. Is there a limit on how much I can send a payee?
A. Yes. Both the daily and per payment limit is $2,500.

Q. How long does it take for a payment to be sent?
A. Once you have established a payee, a payment will be sent in one business day if the payment is imitated prior to the 3 pm ET cutoff time.