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Popmoney & External Transfer FAQs

General Questions

Popmoney Questions

External Transfer Questions

Note: Business accounts are not eligible for Popmoney or External Transfer.


What is Popmoney and External Transfer?

Popmoney and External Transfer are our new online payment and transfer services.

Popmoney allows you to pay and request money from other people bysimply using their email address or mobile phone number.

External Transfer allows you to transfer funds between your accounts at Pentucket Bank and elsewhere.


Why should I use Popmoney and External Transfer?

Sending money to friends and family or transferring funds between accounts has never been easier. These convenient online payment and transfer services save you a trip to the branch/ATM or from having to write a check.


What can I do with Popmoney and External Transfer?

With Popmoney you are able to send and receive payments with anyone who has an email address or mobile phone number and a bank account in the United States. You can also send payments if you have their routing and account numbers.

With External Transfer you are able to transfer money between your Pentucket Bank accounts and your own accounts at more than 20,000 banks and brokerages.

Payments and transfers can be set up automatically recurring or scheduled in advance.

Note: Payments and/or transfers to international accounts are not allowed.


Are there fees for Popmoney and External Transfer?

There is no fee to register for Popmoney and External Transfer. You may incur a per transaction fee depending on the type of payment/transfer and delivery speed.


What accounts are eligible for Popmoney and External Transfer?

For Popmoney you can use all of the following Pentucket Bank accounts to send and receive payments:

  • Personal Checking
  • Personal Savings
  • Personal Money Markets

For External Transfer you can set up the following types ofaccounts to conduct transfers:

  • Personal Checking
  • Personal Savings
  • Personal Money Markets
  • Investment accounts at affiliated online brokerage firms

Note: Your Pentucket Bank accounts eligible for Popmoney and External Transfer service will be automatically enabled when you register.


What types of accounts are not eligible for Popmoney and External Transfer?

The following accounts are not eligible:

  • Individual Retirement Accounts (IRAs)
  • Custodial and/or Trust Accounts
  • Certificate of Deposits (CDs) or other time-based accounts
  • Loan Accounts (including credit card and equity accounts)
  • Business Accounts
  • Accounts outside of the United States

Note: Other accounts may be ineligible due to restrictions from your financial institution. If you have questions about your account’s eligibility for Popmoney and External Transfer, please contact your financial institution.


How long does it take for a payment or transfer to complete?

Standard payments/transfers can take up to 3 business days after the day you initiate the transaction to complete.

Next Day payments/transfers will be completed within 1 business day.

Note: For standard payments/transfers, funds will be debited from the sender's account on the first business day after the transaction was initiated. However, funds may not post to the recipient’s account until the third business day.


Are there cut-off times to submit a payment or transfer?

Yes. Standard payments and transfers scheduled before 10PM PST will be initiated the next business day. Standard payments and transfers scheduled after that cut-off time will be initiated 2 business days after. For example, if a payment/transfer was scheduled on Monday before the cut-off time, the transaction would be posted to the recipient's account on Thursday. If a payment/transfer was scheduled Monday after the cut-off time, the transaction would be posted to the recipient's account on Friday.

Next Day payments and transfers scheduled before 3PM EST will be processed the same day. For example, if a payment/transfer was scheduled before 3PM EST, the debit and credit would post to the sender's and recipient's accounts on the next business day. If a payment/transfer was scheduled after the cut-off time, the debit and credit would post to the sender's and recipient's accounts on the second business day.


Do account transaction limits and/or fees assigned by my financial institution apply to Popmoney and External Transfer?

Yes. Limits and conditions placed on account transactions by individual financial institutions apply to Popmoney and External Transfer transactions.

For example, your Pentucket Bank Bounce and Cushion Accounts (overdraft protection) are included in your available balance. Accessing these accounts for Popmoney and/or External Transfer transactions may result in you incurring the associated fees.

Due to federal regulations limiting preauthorized debits (including transfers), the limit of 6 preauthorized debits per statement cycle from a Pentucket Bank Money Market account applies to your Popmoney and External Transfer transactions. If you have reached your limit , your Popmoney or External Transfer transaction may not be successful.

If you have any questions about restrictions and/or conditions, including fees, on your external accounts that may pertain to your Popmoney and External Transfer transactions, please contact your other financial institutions.


How do I signup?

It’s easy! Simply follow these steps:

  • Login to Online Banking
  • Go to Popmoney & External Transfer in the Transfers tab
  • Select “Pay Other People”(Popmoney) or “Transfer Between My Accounts” (External Transfer)
  • Accept the Terms & Conditions
  • Provide some personal information to confirm your identity

That’s it! You can then add contacts or accounts from other financial institutions to begin making payments/transfers.

Note: Make sure your Online Banking email address is correct since it will be used to setup and send notifications from your Popmoney and External Transfer service. To update your email address, login to Online Banking and click on My Settings.


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Popmoney

How is Popmoney different from the External Transfer?

Popmoney allows you to make and receive payments with individuals. The External Transfer service is used to move funds between your own financial accounts.


How do I access Popmoney?

Popmoney is conveniently located within Online Banking. Simply follow these steps:

  • Login to Online Banking
  • Go to Popmoney & External Transfer in the Transfers tab
  • Select "Pay Other People" (Popmoney)


How do I add contacts to send payments to?

Once you are logged in to Online Banking and on the Popmoney page:

  • Click the Contacts tab
  • Select Add a Contact
  • Enter recipient’s first and last name (nickname is optional)
  • Enter recipients email address, mobile phone number or bank account information
  • Click Save at the bottom of the page


How do I make a payment?

Once you are logged in to Online Banking and on the Popmoney page:

  • Click the Send Money tab
  • Enter the name, email or mobile number of the recipient
  • Enter the payment amount
  • Select a delivery date
  • Select a delivery speed (if applicable)
  • Select the From Account from the drop down menu
  • Enter a message to be sent to the recipient (20 characters maximum; this message will only be seen by the recipient) 
  • Click Continue at the bottom of the page and verify the payment details


Can I check the status of my Popmoney payments?

Yes. Once you are logged in to Online Banking and on the Popmoney page, click the Activity tab. You will be able to review your Popmoney transaction history and the status of each payment.


Can I cancel a Popmoney payment?

Yes. Once you are logged in to OnlineBanking and on the Popmoney page, click the Activity tab. Find the transaction and click Cancel.

Keep in mind, only transactions that are in “Pending” status can be cancelled.


How will my recipient know that I have sent a Popmoney payment?

An email or text notification is sent to your recipient announcing your Popmoney payment. The notification will include instructions and link to collect the payment. First time users will be instructed to complete a short registration form.

Note: There is a known issue impacting users with AOL email addresses. Delivery of payment notifications may be delayed. If you or your recipient has an AOL email address and have not received a notification after scheduling a payment, we recommend you update your Popmoney profile to an email address with a different domain.


How will I know when my recipient has collected my payment?

Once you are logged in to Online Banking and on the Popmoney page, click the Activity tab. You will be able to review your Popmoney transaction history. Payments that have been collected will have a status of “Completed”.


How long does the recipient have to collect my payment?

The recipient has 30 days from receiving the email or text notification to collect their Popmoney payment.

Note: Payments not collected within 30 days will automatically be returned to the sender’s account.


What happens if I try to send a payment from an account with insufficient funds?

If you attempt to send a Popmoney payment from an account with insufficient funds, the payment will be stopped (unless you have overdraft protection on the account) and you will receive an email notification. The payment will be resubmitted once automatically. In the meantime, for security reasons, the account in question will be temporarily suspended for further transactions. If the payment goes through the second time, you will receive an email notification, and the account will be reinstated for activity.


How do I update my contact information and preferences?

Once you are logged in to Online Banking and on the Popmoney page, click the Preferences tab. From this screen you will be able to:

  • Add, delete and validate your email address
  • Add, delete and validate your phone number
  • Enable and select your automatic deposit account to receive Popmoney payments

How can I unsubscribe from Popmoney?

You can request to unsubscribe from Popmoney by any of the following ways:

  • Email: Login to Online Banking, go to the Support tab and click on the Email Us link to send a secure email
  • Phone: Contact us at (978) 556-5414
  • In person: Visit a branch near you and speak to a bank representative

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External Transfer

How is External Transfer different from the Popmoney?

External Transfer allows you to move funds between your own accounts at different financial institutions . Popmoney is used to make and receive payments with individuals.


How do I access External Transfer?

External Transfer is conveniently located within Online Banking. Simply follow these steps:

  • Login to Online Banking
  • Go to Popmoney & External Transfer in the Transfers tab
  •   Select “Transfer Between My Accounts” (External Transfer)


How do I add accounts to transfer?

Once you are logged in to Online Banking and on the External Transfer page:

  • Click the Transfer Funds tab
  • Click Add a New Account
  • Complete the account set-up form
  • Click Add at the bottom of the page
  • You will then be prompted to verify the account


Why can’t I find my financial institution during account set-up?

  • You may have entered the financial institution name in a way that doesn't match our database.
  • You may have entered a financial institution that isn't in our database yet.
  • You may be trying to add an account type that is not eligible for External Transfer.

If in doubt, contact us at (978) 556-5414.


How do I identify the ABA routing and account number?

If your account has check writing privileges, take a look at a check. The ABA routing number is usually a 9-digit number found at the bottom of your check on the left hand side. The ABA routing number can sometimes be found on your financial institution’s website as well.

Your account number is usually the number following the ABA routing number on your check.

If you need further help identifying your ABA routing and account number, please contact your financial institution.


How do I verify the account?

You may be able to verify the account immediately if you have online access to the account.

For all other accounts, you will verify your account using trial deposits. Here’s what to expect:

  • Two small deposits will be sent to the external account you are adding.
  • It can take 3-4 business days for the trials deposits to post to your external account.
  • You can find out the amounts of the trial deposit by reviewing your accounts online, calling you financial institution or reviewing your monthly statement.
  • Once you have received the trial deposit, login to your Pentucket Bank Online Banking and go to the External Transfer page to complete verification.
  • Click on Settings and select Accounts.
  • Enter the two trial deposit amounts and click Confirm.

That’s it! Deposits and withdrawals can now be made between this account and your Pentucket Bank accounts.


How can I tell which accounts still have to be verified?

Accounts pending verification will appear on the Overview page of External Transfer.


Why do I have to verify my external accounts?

The account verification process helps us ensure nobody but you has access to your accounts.


Can I make changes to my accounts after they are set-up?

Yes. Simply follow these steps:

  • Login to Online Banking and go to the External Transfer page
  • Click Settings and select Accounts
  • Select the account to edit or delete


How do I make a transfer?

Once you are logged in to Online Banking and on the External Transfer page:

  • Enter the Amount
  • Select the From Account from the drop down menu
  • Select the To Account from the drop down menu
  • Select a delivery date
  • Select a delivery speed (if applicable)
  • Enter a memo (this message will only be seen by the recipient)
  • Click Continue at the bottom of the page and verify the transferdetails


Can I cancel an External Transfer?

Yes, you can cancel your transfer anytime before the cut-off time. Simply login Online Banking and on the External Transfer page, click the Overview tab. Find the transaction and click Cancel.

Keep in mind, once the cut-off time has passed, the transfer cannot be cancelled or reversed.


How will I know when my transfer was completed?

You will receive an email notification once your transfer is complete.

Also, you can login to Online Banking and on the External Transfer page click the Activity tab. You will be able to review your External Transfer transaction history. Transfers that have been posted will have a status of “Completed”.


What could cause an External Transfer to be unsuccessful?

The most common reasons for an unsuccessful External Transfer are:

  • Incorrect ABA routing or account number
  •   Insufficient funds
  • Exceeding the dollar limit for an individual transaction, total transactions per day or total transactions per month

You will receive an email notification when a transfer has been unsuccessful. Full details are available in your transaction history screen. If you have further questions about your unsuccessful transfer, please contact us at (978) 556-5414.


How can I unsubscribe from External Transfer?

You can request to unsubscribe from External Transfer by any of the following ways:

  • Online: Login to Online Banking, go to the External Transfer page, click on Settings, and select Unsubscribe
  • Email: Login to Online Banking, go to the Support tab and click on the Email Us link to send a secure email
  • Phone: Contact us at (978) 556-5414
  • In person: Visit a branch near you and speak to a bank representative

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