Money Link Invitations Just Got Easier
We created Money Link to make it easy for members to receive money from anyone with a bank account in the U.S. (if that account is with UW Credit Union the transfer is instant--otherwise it takes 3-4 business days). This free service is already used by many members.
Today, we made it easier to invite people to send you money. Just go to Money Link under the Transfers & Payments tab in Web Branch and choose to "Create a New Money Link." Now, you can easily import the names and e-mail addresses of your contacts from AOL, GMail, Hotmail and Yahoo mail. We just pass on your e-mail address and e-mail password to those services so there's no need to worry about your account information being used or compromised. And, of course, we never store or sell the e-mail addresses you enter.
Money Link is a great way to share in expenses with roommates, split checks when getting lunch or for parents to send students money at school. If you haven't tried Money Link, now is a great time to start.
Labels: Money Link, new features, Web Branch
Two Ways to Move Money—External Transfers and Money Link
We’ve received some questions from members on how our External Transfers and Money Link services work. While both systems have similar characteristics, they do very different things.
External Transfers involve accounts you own. One is here at UW Credit Union; the other is an account you own at another bank or credit union. External Transfers lets you move funds between your accounts here at UW Credit Union and your accounts at another institution. Moving money to your UW Credit Union account is free and there is a small fee for moving money out of your UW Credit Union account. You can transfer up to $2,000 each day and up to $5,000 each month. The funds take 3-4 business days to transfer. However, a one-day transfer option is available for a $10 fee. We are also working on increasing the daily and monthly limits for these transfers—more on that soon.
To get started with External Transfers, just login to Web Branch and go to the “Transfers & Payments” tab and choose “My External Accounts.”
Money Link is a way for anyone to send money to a UW Credit Union member. This system involves your UW Credit Union account and an account owned by someone else either at UW Credit Union or at any other financial institution in the country. This system is similar to PayPal, but it’s completely free.
To get started using Money Link, you need to invite someone to pay you. Perhaps someone owes you for lunch, or you share household bills and need an easy way to collect from your roommates. Maybe you’re in school and you’d like an easy way for your parents to send you money. Money Link is perfect for all of these situations and many more. To invite someone, login to Web Branch and go to the “Transfers & Payments” tab. Click on the Money Link logo and choose “Create a New Money Link.” From there all you need to do is enter the person’s name and e-mail address. They’ll get an e-mail from us and the system will guide them through the process. If the person you invited is a UW Credit Union member, they can connect one of their UW Credit Union accounts and transfer money to you immediately. If that person is not a member, they’ll have to go through a few additional steps to set up their account at another bank or credit union. Those transfers take 3-4 business days to be completed.
We hope you’ll find these services useful and a way to make your financial life even easier.
Labels: External Transfers, feedback, help, Money Link, Web Branch
