PayItNow allows person-to-person and account-to-account transfers from your 5Point account.

PayItNow is located in 5Point's Mobile app and in Home Banking. PayItNow allows you to send money to almost anyone with an email address or mobile phone number.

To transfer funds using PayItNow you will provide the email address or mobile phone number for the intended recipient, as well as specify the amount to be sent. The recipient is notified by email or text message that you are sending money. This notification includes instructions on how to securely accept the funds. Once completed, the funds are electronically transferred in 1-2 businesses days, and the transaction is complete.

PayItNow offers an added layer of security by using a secret question and answer function to help ensure your funds are transferred as intended.
 

The minimum amount that can be sent is $0.01.

The maximum amounts that can be sent are below:

P2P Payments

Existing Members
Single Transaction: $2,500
Daily: $5,000
Daily Amount – Debit Card: $2,500
Monthly Amount: $10,000
 
New Members
Single Transaction: $500
Daily: $500
Daily Amount – Debit Card: $250
Monthly Amount: $2,500

A2A Outgoing Transfers

Existing Members
Single Transaction: $10,000
Daily: $20,000
Monthly Amount: $40,000
 
New Members
Single Transaction: $1,000
Daily: $2,000
Monthly Amount: $5,000

A2A Incoming Transfers

Existing Members
Single Transaction: $5,000
Daily: $10,000
Monthly Amount: $20,000
 
New Members
Single Transaction: $500
Daily: $1,000
Monthly Amount: $2,500
 

Using the pay-by-debit card option is the quickest way for the recipient to receive their funds. For this transaction to be instant, this requires the person paying the recipient to use the debit card payment, and then the recipient must accept the payment through their debit card. If the recipient does not accept the payment using the debit card option, this will result in the transaction taking 1-2 business days to process. Though this is the fastest way, you cannot use the debit card option for recurring or future-dated payments.

The recipient does not need to be a member of 5Point Credit Union. When the recipient receives the notification that the money is being sent to them, they will be prompted by PayItNow to follow a few steps to accept the funds.

The recipient is notified by email or text message as soon as you set up the payment. Once the recipient has followed the steps needed to accept the funds, they will appear in the recipient’s account in 1-2 days. The recipient has 10 calendar days to accept the funds before the transaction is canceled.

No, the funds stay available in the sender's account until recipient accepts the transfer. Once the recipient has followed the steps needed to accept the funds, they will appear in the recipient’s account in 1-2 days. The recipient has 10 calendar days to accept the funds before the transaction is canceled.

Should you wish to put the funds on hold in your account to until the recipient accepts the transfer, login to online banking and select the “Add Transaction” option. Next enter the date, description, and amount. The hold will be displayed at the top of the transaction history and can be deleted at any time.

No, the only thing the recipient is able to do is accept a payment.

Yes, recipients you have sent money to in the past can be stored for future use.

If the recipient has not yet accepted the payment, the sender can cancel the payment by selecting it from scheduled payments and then cancelling it. The recipient will then be notified that the payment has been cancelled and to contact the sender with any questions.

There are several ways that PayItNow helps ensure your transfer gets to the intended recipient.

When you begin the process, you’ll be asked to input the recipient’s name, and email address or mobile phone number, twice, for confirmation. Verify this information with the recipient before you set up the transfer and check it carefully when entering it.

You will be asked to input a security question and answer when you set up your transfer. The recipient will be prompted for the answer to the question before the transfer can be completed.

If you think you have been a victim of fraud, please contact 5Point Credit Union immediately at 1.800.825.8829.

First, the routing number will be verified as your recipient enters it. Once your recipient enters a valid routing number and adds their account number, the payment instruction is sent to your recipient’s financial institution for processing (which takes 1-2 business days to post to your recipient’s account). If the recipient entered an incorrect account number, the transaction will fail. The funds will then be returned to your account, typically within 3-4 business days.

If your recipient inadvertently enters an account number that is valid but not owned by your recipient, your recipient will need to reach out their financial institution to research the transaction for them.

Payments that are unclaimed after 10 days are canceled. You will have to set up another payment if you wish to send it to the recipient again.