Goodbye, Popmoney®. Hello, Zelle®
We wanted to take this opportunity to inform you that our Popmoney® personal payment service partner has decided to discontinue the Popmoney® service, effective 06/30/2023. As a result, Popmoney® will no longer be available to members of Somerset Federal Credit Union as of 06/21/2023.
In an effort to improve your online and mobile banking experience, we will be adding Zelle® to our product offerings on 06/22/2023.
Zelle® is a fast and easy way you send money to friends, family and others you trust. Payments are typically delivered within minutes to an enrolled recipient’s U.S. bank account. With Zelle® you can send and receive money for things like splitting the cost of the dinner bill or sending a last-minute gift to a loved one. We will share more information about timing and how to enroll in Zelle® soon.
What you need to know about the Popmoney® service discontinuation:
- Payments created on 06/21/2023 until 6 p.m. EST will be processed. No new transactions will be processed after 6:00 p.m. EST on 06/21/2023.
- We recommend canceling recurring or future-dated payments that are scheduled for delivery after 06/21/2023. No recurring or future-dated payments will be processed after 06/21/2023.
- Transactions initiated before 6 p.m. EST on 06/21/2023 will be processed. Recipients who are registered Popmoney users will receive payment automatically. If the recipient is not a registered Popmoney user, they will get notification through email or text messages with instructions on how to accept the payment. If the payment is not accepted after 10 days, funds will be returned to the Sender.
- If you are the recipient of any pending Popmoney payments, please accept or cancel the payments by 6 p.m. EST on 06/21/2023. Cancelling the payment will result in the funds being returned to the sender.
- While you will no longer have access to Popmoney, you may review your Popmoney transactional activity in your bank statement.
We appreciate your understanding. For questions and concerns, please contact our customer service representatives at 508-678-2851, option #3 .
