What exactly is a P2P funds transfer? "P2P" stands for person-to-person. Univest's innovative tool allows you to electronically send money for free from your Univest bank account to another person's bank account FREE of charge. A P2P transfer is just like writing a check to someone else except P2P transfers are faster than using checks, more secure, and cheaper than using other funds transfer providers, check cashing stores, or wire services. You can even send money for free on a recurring schedule. This service is ideal for sending money for free to students away at school, friends, or family in the U.S.A. Person-to-Person funds transfers are set to a maximum of $2,500 per transfer. Already a Univest account holder? Why not click the P2P button to get started now? |
Send Money Online For Free (click above) |
How Do I Send Money For Free With Univest's Person-to-Person Funds Transfers and Payments?
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• Univest Account Holder Logs Into The System (no enrollment, no ID or password)
• Univest Account Holder Enters Account Information and Recipient's Name and E-mail |
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• Recipient Receives Notification E-mail From Univest
• Recipient Authorizes Transfer By Entering Bank Account Information |
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• Univest Electronically Moves Funds From The Sender's Univest Account To Recipient's Account
• Transaction Completed On Next Business Day |
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Will I Need To Obtain The Recipient's Bank Account Information?
You will never see the recipient's bank account information, and the recipient will never see your bank account information. The sender and recipient enter their associated information into secure web pages after they are prompted by e-mail. That is what makes Univest's Person-to-Person funds transfer so secure. Unlike paper checks, your bank account information is never exposed to the recipient with Univest's P2P funds transfer and vice-versa. Neither the sender's or recipient's bank account information is ever exposed to any third party vendors or individuals.
What Security Precautions Are In Place?
- Neither party ever sees the other's bank account information (see question above).
- All transactions are done using the standard web Secure Socket Layer (SSL) technology.
- The transfer dollar amount is never stated in any of the e-mail correspondences. The sender and recipient must communicate outside of the e-mail prompts in order for the amount to be revealed.
- Univest cannot withdraw money from either account without both parties agreeing to the transaction.
Do I Need Another ID and Password To Send Money For Free With Univest P2P?
Univest's person-to-person funds transfer tool does not require enrollments, ID's, or passwords. You log in using information you already have as a Univest banking customer. You will need the following information when you log in:
What Does It Cost To Make a Person-to-Person Funds Transfer or Payment? Can I Send Money For Free With This Service?
There is no charge to send money to someone else using this tool. Sending money using Univest's P2P funds transfer service is FREE to all personal Univest deposit account holders. Not a Univest account holder? Why not apply for a Univest Anytime Online Checking account today?
Do I Need To Be A Joint Owner Of The Recipient's Account?
You do not need to be a joint owner of the recipient's bank account. Unlike the Anytime Online Funds Transfer tool that involves funds transfers between two accounts that you own (Me-to-Me transfers), Person-to-Person (P2P) transfers allow you to send money for free to people who do not own bank accounts jointly with you.
What If The Recipient Never Approves The Payment?
The transaction will not be completed. No funds will be withdrawn from the sender's Univest account, and no funds will be deposited into any account owned by the recipient. All P2P transfer requests expire after 15 calendar days following the date of the original request.
Can Businesses and Non-Profit Customers Use This Tool ?
The Univest Person-to-Person Funds Transfer tool is for personal deposit account use only.
What Is The Daily Cut-Off Time For Sending Money For Free With Univest's P2P Tool?
In order for a transfer request to be included in a business-day's processing, the recipient must approve the transfer no later than 3:00 PM EST. Transfers are not fulfilled on weekends or bank holidays.
Do You Have Further Questions? Ready To Become A Univest Checking Account Customer?
Please contact the Univest Service Center at 1-877-723-5571, or e-mail us at web@univest.net if you have questions or comments. If you are not already a Univest deposit account holder, why not apply for a Univest Anytime Online Checking Account today?
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