Forget Your Wallet? Pay Anyone Using Honor’s App
By Ryne Siebenmark | Honor CU
Built into Honor’s app and online banking platforms is one of my favorite and most used features – Pay Anyone. This easy to use and secure tool allows me to transfer money to friends and family members. The best part is Pay Anyone is free for Honor members to use, regardless of whether you’re sending money to another member, or a nonmember.
Because I have had so much success transferring money using Pay Anyone, I want to give you the inside scoop on it. Here’s what you need to know about Honor’s Pay Anyone tool.
What is Pay Anyone?
Pay Anyone is a FREE service available to all Honor members with a checking account. It’s a great way to send money digitally to other Honor members or nonmembers via a text or email. It’s safe, secure, free, and extremely easy to use! It can be used through the Honor app, or on a desktop computer in online banking. Transactions typically take 1-3 business days to process, but some do go through the same day.
How Secure Is It?
Due to the security features that are included with Pay Anyone, I trust this service more than other digital money transfer apps. I would recommend Pay Anyone to every Honor Credit Union member to ensure a safe, convenient way of sending money to your friends and family members.
Pay Anyone Security Advantages:
- Transaction data is encrypted
- Multi-factor authentication required to use Pay Anyone
- Recipient must answer a pre-determined security question to complete transaction
- Only you and the person receiving the payment are aware of the transaction
How does Pay Anyone work?
The process of sending money is very simple and can take less than 5 minutes to complete. Here’s what you need to do:
- If you have not done so already, you will need to enroll in Pay Anyone through your online banking account by hovering over “Pay & Transfer” and selecting “Pay Anyone.”
- Next, enter either an email address or a phone number for the person you’d like to send money to. This is comforting for the recipient because they do not have to give out their account numbers to receive the money transfer.
- You will then set up a security question for the recipient to answer before they can receive their transfer. This should be a question only the recipient might know the answer to.
- Enter the amount of money you would like to send and select “Send Payment.”
Once you click “Send Payment,” you will receive an email notification verifying that you set up the money transfer to the recipient for the correct amount. The recipient will also receive an email or text notification, depending on how you sent the money.
From there, it will take them to the secured website to answer the security question and enter their account information. Lastly, you will receive a final email notification letting you know when the money is on its way to your friend.