Ally Bank Announces Popmoney, an Easy Way to Send Money

Posted in Community
June 22nd, 2011 at 10:47 am by Ally

Today’s big introduction is Popmoney, a service that makes it truly simple to send money to anyone in the U.S. All you need is their email address or mobile phone number.

So whether it’s sending money to your kids at school, home to mom, or just that $40 you owe your friend, Popmoney gives you a quick, easy and safe way to do it. You can even send money to people who aren’t Ally customers. It is, after all, meant to make your life easier.

And when we say easy, we’re not kidding!



Popmoney lets you receive or send money from your Interest Checking, Online Savings, or Money Market Account. Just remember that withdrawals from your Online Savings or Money Market Account count towards your six transaction limit.

Once you’ve sent Popmoney funds using a mobile phone number or an email address, the recipient will then be notified that you sent money and directed to www.popmoney.com/ally where they’ll receive instructions on how to retrieve their funds.

That’s everything there is to know about Popmoney. It’s really that simple!

Will Popmoney make transferring money easier for you? Who do you think you’ll end up sending money to the most?

Responses to this post (75 comments)

  1. 6/22/2011
    11:30 am
    Eric says:

    This is a free service correct? No fees as for other products.
    When are you going to offer mobile banking? Using a laptop at the lunch place to send money is not really the future. Thanks

    • 8/3/2011
      1:41 pm
      Ally says:

      Absolutely free from us, Eric, but please check your cellular carrier’s message and data rates if you’re sending money via cell phone number. And we’re going to have some news for you on that mobile banking front soon enough. We’d love to see your feedback on our new Idea Share tab too on mobile, so check that out as well: http://www.facebook.com/AllyBank?sk=app_112118792191546

  2. 6/22/2011
    12:32 pm
    Rich says:

    +1 for Mobile banking!!!!

  3. 8/1/2011
    2:17 pm
    Harry says:

    I used it and it worked great.

    • 8/3/2011
      1:47 pm
      Ally says:

      Great, Harry! Thanks for the feedback. It really is quite simple!

  4. 8/1/2011
    2:21 pm
    Andrew says:

    ++1 for mobile banking, especially since the website doesn’t reliably work with Chrome or Firefox.

  5. 8/1/2011
    2:21 pm
    MM says:

    What is cost for me to send the money and for the received to get it.

    • 8/3/2011
      1:47 pm
      Ally says:

      We don’t charge any fee for this service, MM and John, but if you send money via cell phone number, don’t forget to check your carrier’s message and data rates. Just another service to make things easier for our customers.

  6. 8/1/2011
    2:24 pm
    John says:

    Is there a fee for receiving a Popmoney request? I understand that there is no fee for sending one …

  7. 8/1/2011
    2:25 pm
    Bobby says:

    Please make available mobile app and I will use it for all bills and banking needs on the go. I hope you will bring out the best mobile app in the market as you have taken soo long.

  8. 8/1/2011
    2:26 pm
    Neil says:

    How is this easier than just scheduling an online check to the payee, just like any other check?

    • 8/3/2011
      1:43 pm
      Ally says:

      You’ll only need a cell number or an email address to send money along with it, Neil, which should make paying any type of incidental costs a little easier.

  9. 8/1/2011
    2:28 pm
    Nashda says:

    This is great but it would be awesome if there was an Android or iPhone app.

  10. 8/1/2011
    2:28 pm
    Kelley says:

    Sure would like a mobile banking app for iPhone.

  11. 8/1/2011
    2:32 pm
    Rafi says:

    +2 for Mobile banking!!!!

    Especially an Android App.

    Need help developing it, feel free to contact me?

    Rafi

  12. 8/1/2011
    2:33 pm
    Max says:

    Good feature, but if I could deposit checks with a Mobile App from Ally like Schwab I’d be bigger customer of Ally since we have no ATM’s. When do we get a mobile App?

  13. 8/1/2011
    2:34 pm
    Tina says:

    I am excited for Popmoney because it will make my money transfer to persons easier. I can use it pay my house rental.

  14. 8/1/2011
    2:35 pm
    Chris says:

    Ally really needs an iPhone app with full mobile banking including taking pics to deposit checks.

  15. 8/1/2011
    2:36 pm
    Garrison says:

    This service sounds great for people like me that have given up on cash. I have the awkward moment from time to time where I’m out with similar-minded friends and for whatever reason, we all agree to purchase something together. Then none of us have cash to pay the one guy who puts it on his credit card. This should be a great solution. It’s great to have a bank that’s not behind the times.

    As for the mobile banking question, I find that the website works fine from a smartphone. As someone who’s had to support mobile banking from non-smartphones, I can say it’s something I would have avoided as well.

  16. 8/1/2011
    2:38 pm
    Ma says:

    Sounds easy to do. Will there still be fees from the other banks when you do an electronic transfer?

  17. 8/1/2011
    2:39 pm
    RNOBMS says:

    When will I be able to scan checks and deposit them the same day?

  18. 8/1/2011
    2:53 pm
    Bob1 says:

    Sounds like a cool process, But what are the fees associated with this transaction?

  19. 8/1/2011
    2:58 pm
    Conrad says:

    Is it free? If not, what are the charges?

    Are there requirements about the recipient’s mobile phone service? For example, must they be able to receive text messages?

    How does their mobile phone number or email address allow them to receive money?

  20. 8/1/2011
    3:05 pm
    Todd says:

    Agree with Eric. Need mobile banking a la Chase, where you can use their iphone or Android app to deposit checks, pay bills, make transfers, see your transaction history, AND pay anyone with a phone number or email address.

  21. 8/1/2011
    3:08 pm
    jim says:

    Can this be used for international transactions?

    • 8/3/2011
      1:45 pm
      Ally says:

      Sorry Jim, you can only send money to people who have U.S. bank accounts.

  22. 8/1/2011
    3:10 pm
    Elaine says:

    How long does it take for the money to be received in their account? Is there an account verification and time period?

  23. 8/1/2011
    3:10 pm
    David says:

    What if you don’t have a mobile phone number?

    • 8/3/2011
      1:44 pm
      Ally says:

      You can always use either your Popmoney account from the site or even an email address to move the process along, David.

  24. 8/1/2011
    3:15 pm
    Skip says:

    Sounds cool! I plan to use it.

  25. 8/1/2011
    3:30 pm
    Scotty says:

    Must be a fee if they dont mention it being free. In the fine print I’m sure. You send $40 to your friend and it cost you $42 and your friend only gets $38. Like paypal.

  26. 8/1/2011
    3:36 pm
    Dave says:

    So, where’s the Ally app already! (I speak Android, of course) ;-)

  27. 8/1/2011
    3:39 pm
    ROn says:

    Hi. Nice idea, now if you can come up with a way to RECEIVE money, like sending a payment button to a recipient who can then make a payment to you, we could get rid of Paypal:-)

  28. 8/1/2011
    3:40 pm
    Patricia J. Powers says:

    Sounds good!

  29. 8/1/2011
    3:47 pm
    Scott says:

    When are you going to offer a mobile app that allows checks to be deposited by taking pictures of the front and back of the checks?

    • 8/3/2011
      1:45 pm
      Ally says:

      Rest assured, everyone, that we are working on a mobile app and will have some news on it in the near future. In the meantime, help us mold the mobile solution at our Idea Share:http://www.facebook.com/AllyBank?sk=app_112118792191546

      You’ve all given us a good idea for a FAQ too about Popmoney since there seems to be a lot of different questions. We’ll be sure to update the post here to link to it once we put it together and hopefully that will help provide a bit more information!

  30. 8/1/2011
    4:13 pm
    dolce_sl says:

    Need mobile banking that can make deposit (like Chase). Nice gesture on popmoney, but really, paypal can already do that. Look forward to Android + iPhone apps.

  31. 8/1/2011
    4:27 pm
    SUSIE says:

    Please offer mobile banking!!!!!!! Also, where the details on how to retrive money NOT sent directly to bank account???

  32. 8/1/2011
    4:47 pm
    Tiffany says:

    + 2 mobile banking

  33. 8/1/2011
    4:48 pm
    Z. says:

    Sounds good on paper but my friends don’t want to give out thier bank account info – to me or to you. Try again…how about a simple phone app to check accnt and pay bills?

  34. 8/1/2011
    4:58 pm
    Derrick says:

    +2 for Mobile banking.

    I’d like to be able to deposit my checks via smartphone camera also. That is the future…

    Thanks!

  35. 8/1/2011
    5:03 pm
    Chris says:

    This is cool…and free as opposed to PayPal. Would be nice to be able to do it with any old phone via text tho.

  36. 8/1/2011
    5:18 pm
    Carl says:

    I used to use this all the time when I was with PNC Bank. I’m excited to see that ALLY has picked this up!!

  37. 8/1/2011
    5:20 pm
    Will says:

    Will this be service work for sending money to people not located in the US?

  38. 8/1/2011
    5:23 pm
    Dustin says:

    For a direct bank, you’re VERY slow to implement tools for your consumer base like Mobile Banking (2 more people commented on this as well), Text Banking, Mobile apps, and remote deposit capture. You’re a little behind; right now I DON’T love my bank!

  39. 8/1/2011
    5:40 pm
    Alice says:

    This is nice, but I would love to see mobile banking. It’s not always convenient to log onto a computer/laptop.

  40. 8/1/2011
    5:44 pm
    Bill says:

    Does this mean I can transfer funds to another Bank?

  41. 8/1/2011
    5:48 pm
    Aaron says:

    I am also curious as to what fees may be lurking around the corner for this service. It seems a bit too convenient to be free . . .

  42. 8/1/2011
    6:42 pm
    Michael says:

    I would love to have an Android app for mobile banking. Just about every Major bank has an app. I do love my bank, and a mobile app would make me love it even more.

    Thanks

  43. 8/1/2011
    7:08 pm
    Rich says:

    How about my sending money to a worldwide bank (US and international branches), but in a European country? I need to pay back a friend who loaned me money during travel. Is this possible?

  44. 8/2/2011
    1:03 am
    Dave says:

    Why do you need our mobile phone number? I have a cell phone, but it does not take text messages. Does that mean I can’t use your service?

  45. 8/2/2011
    11:31 am
    Tay says:

    I am also requesting a mobile app. An Internet bank with no ATMs should have a way to perform general banking without having to maintain a storefront account to perform simple actions such as cashing a check. Making use of the available technology should be a no brainer for a progressive Internet banking system. The popmoney feature will be useful but I would much rather have a way to deposit checks using my iPhone.

    • 8/2/2011
      11:40 am
      Ally says:

      Mobile app is a priority for us over here and we’ll have an update very soon, guys.

  46. 8/2/2011
    4:03 pm
    Denise says:

    This is a great addition to the awray of services Ally currently provides, however I too look forward to the introduction of a mobile App that will make available remote capture and deposit…

  47. 8/3/2011
    1:26 am
    Jose says:

    From popmoney.com FAQ’s:

    “…If your bank offers Popmoney, you can deposit payments directly through your online and mobile banking site. If your bank does not offer Popmoney, please provide your bank account information at Popmoney.com. Your money will be sent to that account.

    Does it cost anything to deposit a payment to my bank account?
    CURRENTLY, Popmoney.com does not charge any fees…”

  48. 8/3/2011
    12:03 pm
    Jen says:

    This is nice and convenient, but like everyone else has said it doesn’t mention the cost – free or fee? So far I’m happy with Ally. I love the chat option when I have a question, because I’ve always hated having to go through bank’s phone menu and having to repeat the info I’ve already entered via the phone. As an internet bank however, I expected Ally to be more technologically advanced than other banks – awesome mobile phone app, remote check deposit, etc. Do these things and I’ll drop my last Wells Fargo account!

  49. 8/4/2011
    2:50 am
    Tangie says:

    This new feature is great, but my main issue has always been the 2-3 business days it takes for a transfer to be deposited into my acct from an outside bank. My boyfriend is currently out of the country and every time he transfers me any money from his bank I always have to wait at least two business days to receive the money in my Ally acct. There must be a faster way to do this.

  50. 8/20/2011
    1:33 pm
    Becky says:

    Finally! love popmoney and haven’t tried it yet. We have it in Canada and its sooooooo convenient! love emailing money :)

    • 8/20/2011
      1:45 pm
      Ally says:

      Thanks for the feedback, Becky! Our customers are really enjoying it.

  51. 9/27/2011
    4:32 pm
    Craig says:

    It costs a dollar for the two to three days and three dollars for the next day.

  52. 9/30/2011
    2:05 pm
    Bob in Bucks says:

    Anyway we can obtain evidence of payment other than our account?

  53. 9/30/2011
    2:31 pm
    Carter says:

    +++++1 For mobile banking. Even my “local” home town bank has an app now.

  54. 9/30/2011
    3:28 pm
    Laura says:

    What if I want to receive money? Does the other person need a popmoney account to send money to me?

  55. 9/30/2011
    4:39 pm
    Justin G says:

    How long will popmoney be free with you guys because i have my checking account with another bank and they have popmoney also. It was free for like the 1st week and now it cost money so if you guys are gonna keep it free i will open my checking with you and get rid of that bank. Thank you!

  56. 9/30/2011
    5:48 pm
    Ron says:

    I’ve never understood why, in this age of automation and almost instant debiting of a transaction, why it takes 2-3 days for a credit transfer to occur. As a retired banker, in my mind there should be no more than a 1-day drag on a transfer. Depending on the time of day, the Federal Reserve and the ACH should be able to move money around in nanoseconds. There are no more “float” issues to contend with, as in the old days, so once I hit the “Send” button, my transaction should start processing immediately. Oh well, what do I know? It’s not Ally’s fault….this is a problem with the system overall.

  57. 10/2/2011
    2:56 pm
    Paul says:

    I am a National Account Manager for a mobile software company. We have banking apps for iPhone, Android, Blackberry, iPad and all other smartfones.
    If your IT guys would talk to me (which they haven’t so far), you could have live mobile banking apps in a month.

    • 10/3/2011
      2:14 pm
      Ally says:

      We appreciate that, Paul, and will pass on your comment. That said, we’ve made some real progress with our team now and are looking forward to churning out the best product we can right now.

  58. 4/11/2012
    4:50 pm
    Jean Luc says:

    Any idea on when the check deposit will be available on android ?
    I already have an ALLY account opened but waiting for this function to transfer all my accounts from Chase to you guys ..

    Thanks

    • 4/11/2012
      4:55 pm
      Ally says:

      Ally eCheck Deposit will be available during our second mobile rollout, scheduled for later this year, Jean. The Straight Talk Blog will continue to provide updates on our upcoming mobile release. Look out for that!

  59. 9/26/2012
    1:35 am
    here says:

    do you guys have a fb page to like?

  60. 5/9/2013
    5:44 pm
    Tina N says:

    Hi,
    I was wondering if Ally has a feature that will let me transfer money from my Paypal account, or Paypal debit card account into my Ally Money Market account?

  61. 8/5/2013
    10:41 am
    Frank says:

    I’ve found this service very frustrating. My wife (also at Ally bank) will send me a payment, but I don’t receive any notification (an e-mail or SMS would be nice) which means that I have to talk to her about it, she needs to log in and check the status,etc. When I was with ING, the recipient would receive an e-mail notification that money was being processed.
    Can we get functionality like that at Ally? It seems fairly intuitive.

    • 8/6/2013
      3:44 pm
      Ally says:

      Thanks for the recommendation, Frank. We’ll pass it along to the appropriate team.

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