P2P Payments is now LIVE in online access and our mobile app!

P2P (Person-to-Person) Payments is now LIVE in online access and our mobile app! This feature enables you to send money right from your phone to your friends and family, even if they use a different financial institution.

If you want to transfer funds to someone who is also a member of ARECU, then please use the member-to-member transfer feature. These transfers occur immediately. 

To use this feature, follow these simple steps: 

From our mobile app:

1. Sign up for online access.

2. Download our mobile app.

3. In the mobile app, click the menu button in the upper left corner, then scroll down the menu options on the left side of your screen and click on "P2P Payments."

4. Click "Add New Payment."

5. Follow the steps on the screen, read the disclosure, and click "Make Payment."

6. Let the recipient know you have sent them money and to be watching for a text or email to receive it! 

From Online Access: 

1. Sign up for online access. 

2. Click on the "Services" button in the menu block on the right side of the screen. 

3. Choose "Person to Person Payments."  

4. Click "New Payment."

5. Follow the steps on the screen, read the disclosure, and click "Make Payment."

6. Let the recipient know you have sent them money and to be watching for a text or email to receive it!

It is important to note these transactions do not occur instantly but it usually takes two to three business days to complete the transfer. The specifics will depend, in part, on the time of day you initiated the payment, how long it takes for the recipient to accept your payment request, and how quickly your institution updates your account after receiving the funds.If you need to cancel a payment due to sending it to the wrong email or phone number accidentally, you can click "Cancel Payment" in the description of the payment before the recipient agrees to receive the transfer or call the credit union to cancel the payment before the recipient agrees to receive the transfer. 

To receive a P2P Payment: 

1. Click the link in the email or text message from ARECU. 

2. Create a Person to Person Payment Portal login. 

3. Follow the steps on the screen to receive your payment. 

Recipients have 24 hours to agree to the payment transfer and follow the steps above. If the recipient does not do so within 24 hours, the transfer will be canceled automatically. 

P2P FAQ

What are P2P payments?
P2P, or Person to Person, is a transfer service to send money via email or text message.


What do I use P2P for?
P2P is an easy and convenient way for you to send money to others online.


How much can I transfer?
Maximum $500.00 per transfer
Maximum of 5 transactions per day
Maximum $10,000 per month


How long does it take to complete a funds transfer request?
It usually takes two to three business days to complete the transfer. The specifics will depend, in part, on the time of day you initiated the payment, how long it takes for the recipient to accept your payment request, and how quickly your institution updates your account after receiving the funds.


How does the service work?
To send money to an individual, select P2P payments, select new recipient or individual in drop down, select account for funds to be withdrawn, select date for funds to be sent,   enter the recipient's email address or mobile phone number, the payment amount, and a personal message you’ll send to the recipient, then follow the instructions to complete the payment. The recipient will receive an email or text message with instructions explaining how they can accept the payment. The recipient then enters email address or mobile phone number, and bank account information to accept the payment. Funds will be automatically debited from your account and then credited to the recipient's account.


Can I set up a payment for a future date?
Yes, just select the future date on the calendar in the box marked pay no earlier than.


Can I set up a regularly recurring payment?
Yes, just select how often in the payment frequency box. The selection is one time, every week, every other week or monthly.


Can I send payments internationally?
No, Payments may be sent to individuals who own an account in the United States.


What are the fees associated with using this service?
There are no fees to use the service. However, if a transaction you initiated fails because you don’t have sufficient funds in your account, or you initiate a transfer from a closed account, there is a $30 failed transaction fee.


What do I do if I wish to cancel a payment?
To cancel a transfer, click the plus sign under the correct payment and select the cancel button. Once your payment request has been accepted by the recipient/sender, there is a limited amount of time in which you may cancel the transfer. Payments are processed at 4:00 PM each business day. You can cancel the request when it is in Pending status, before it is in In Progress status. Once your payment request has been transmitted to the ACH network, you cannot cancel the transaction.


How can I check the status of my payment?
You can check the status of your request from the Person to Person Payment Status.


Will my account information be shared with the recipient?
No, your financial account information will not be shared with the recipient. The recipient will only see your name and the personal message you included with the payment request. Similarly, you won't be able to see the recipient's financial account information.


What are different ways to send/receive money to/from someone?
You can send money to someone using his or her:
• Email address: The recipient receives an email with instructions for how and where they can receive the funds.
• Mobile phone number: The recipient receives a text message with instructions for how they can accept the payment.
If the recipient does not respond to the payment notification after 24 hours, the payment will be canceled.


Why do I have limits on my payments?
Limits are put in place for your protection. There are limits on the amount of money that can be transferred and the frequency of payments over certain amount of time.

Why am I asked to enter a message to the contact?
The message is an opportunity for you to tell the recipient the reason for sending funds. It is helpful in creating the confidence that the money is coming from someone familiar.


Do I need the payee's bank account information to send a P2P Payment?
No. All you need is their name and valid email address/cell phone number 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.


What happens if a payee does not accept payment?                                                                  After 24 hours payment will be canceled.