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Popmoney review: Safety, fees, and step-by-step guide

Connected to approximately 1,700 banks nationwide, business owners and individuals are turning to Popmoney to send cash.

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How Does Popmoney Work?

Setting Popmoney Up

To set up Popmoney, you have to sign up at your bank’s website or at Popmoney’s site. Popmoney’s personal payment service goes directly from bank account to bank account, but it doesn’t work with every bank. Check with your bank before signing up for Popmoney.

Sending Money on Popmoney

Popmoney charges a flat $0.95 per transaction. To send money, you can either go to Popmoney’s website or download their app to your phone. Then, enter the email address or phone number of whomever you’re sending money to – they don’t need to have a Popmoney account. They’ll get notified to deposit their money, enter their bank account information and the money will be directly transferred there.

Requesting Money on Popmoney

Requesting money works a lot like sending money. From your Popmoney account, enter the email address of phone number of whomever you’re sending money to, they’ll enter their debit card information and the money will go directly into your account.

Popmoney get started screen

Is Popmoney safe?

Popmoney has not suffered any outright security breaches, however information regarding the specifics of their security systems are sparse. Apart from verifying the account using SMS or email verification codes, Popmoney tends to skirt questions regarding how they protect user information. While most money transfer services assure their users their information is encrypted, Popmoney does not mention it anywhere.

Popmoney is also particularly susceptible to scams – you may receive texts or emails from your “friends” requesting money and payment information. If Popmoney doesn’t encrypt information, hackers can easily access who you’ve sent money to and create fake, but misleaading email accounts in their names. Plus, Popmoney doesn’t provide buyer protection like some other money transfer services (such as Venmo) do.

Pros:

  • It’s easy to use! Especially for those who are not particularly smartphone savvy (or don’t have a smartphone at all), you can easily manage all of your transactions on a computer.
  • The people you send the money to don’t need to have a Popmoney account – just a bank account and an email or phone number.
  • Money moves directly from bank account to bank account. Unlike services like Venmo, there is no middle account to transfer money in or out of.

Cons:

  • As with PayPal, sending money through any email service is susceptible to scams. That’s one of the reasons why choosing a trustworthy source, like Popmoney is so important.
  • They charge a flat $0.95 fee per transaction.
  • It can take awhile. Transferring from bank to bank can take several business days.
  • You can’t transfer money internationally. If this is what you’re after, check out our guide on sending money overseas for more options.

Compare Popmoney to other providers

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Airwallex
Airwallex
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Western Union
Within minutes
From $0
Enjoy $0 fee on your first online transfer. Western Union makes money from currency exchange. Not valid on credit cards or sends to Cuba.
Western Union sends money online to friends and family in 200+ countries and territories around the world.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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