FNBO Direct’s POP Money Feature

FNBO Direct just announced a new feature called POP Money. POP stands for Pay Other People. POP Money is a secure way to send and receive money from anyone at any time. The best way I can describe it is PayPal for banks. Although with POP Money, you don't need the other person's bank account information. You only need an email address or a cell phone number.

Prior to POP Money, the transfer options at FNBO Direct included (1) transfers between FNBO Direct accounts (free and quick), and (2) transfers between FNBO Direct and other bank accounts you own (free and slow). This new feature adds a quick way to give and receive from others. However, it's not free.

POP Money is now offered by FNBO Direct, First Hawaiian, and PNC. However, you can also go direct to the POP Money website and deposit money there.

Added Convenience

What separates POP Money is the ability to send money without knowing bank account information. While you can include that information, POP Money doesn't require it. If you don't include it, they'll just text or email the other party, who will then have to provide that information to receive the funds.

POP Money could be used to:

  • Send rent to your landlord or roommates
  • Send money to your child at college
  • Send a gift to family and friends
  • Pay back friends
  • Pay household help

What it Costs

Standard Delivery (3 Days) will cost $2, while Next Day Service costs $10.

I'm surprised FNBO Direct went with a charge for the 3 day delivery. Capital One 360 has a P2P Payment option that is free. Although, Capital One 360 doesn't have the email/text option.

Limits Apply

The minimum transfer you can make is $10. The maximum is $1,000. And the maximum per month is $5,000.

For some, this new service may be just what is needed. The cost and limits may be nothing compared to the need to send money more easily. I'll probably pass on using this service. I just don't see the need at this time, nor do I think the $2 could be justified. But I have accounts elsewhere. Someone who just banks with FNBO Direct could see some added benefit from this feature.

Although, if all I had was an FNBO Direct account and I had to decide between POP Money and PayPal, I would compare the $2 to the 3% PayPal charge. Looks like the break even point is $67. So, if your transfer is more than that, use POP Money.  I do like what FNBO Direct offers in their savings account product: high-yield, trusted name, FDIC insured, no minimums or fees. Read more in my FNBO Direct Review.

About Philip Taylor

Philip Taylor, aka "PT", is a former practicing CPA, blogger, podcaster, husband, and father of three. PT is also the founder and CEO of FinCon, the conference and community dedicated to helping other financial influencers and brands. He created this website back in 2007 to share his thoughts on money, hold himself accountable, and to meet others passionate about moving toward financial independence.

PT uses Personal Capital to keep track of his financial life. This free software allows him to review his net worth regularly, analyze his investments, and make decisions about his financial future.

PT keeps a portion of his emergency fund in Betterment, the automatic investing tool that makes investing super simple. Betterment focuses on what matters most: savings rate, time in the market, investing costs, and taxes. PT recommends this service to anyone looking to get started investing for themselves.

All the content on this blog is original and created or edited by PT.


  1. Jeremy Olexa says:

    Meh. I’ll use free billpay services to mail checks to people I need instead of paying $2 for this “service”