Frequently Asked Questions

What accounts can I use?
How do I sign up?
How long will it be before I can send my first payment?
How much does it cost?
What information do I need to send a payment?
How much can I send?
How quickly will my payment be received?
When does the payment come out of my account?
How long does the receiver have to claim the payment?
Can I cancel a payment?
Can I make a payment outside the United States?
Why not just use Bill Payment?

 

What accounts can I use?

In order to make a People Pay payment, you must have an active Marblehead Bank checking account. People Pay payments cannot be initiated from a savings account.

How do I sign up?

In order to sign up you must log in to your Online Banking Account and complete the enrollment process. You must enroll from a computer - you cannot enroll from a mobile device.

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How long will it be before I can send my first payment?

It takes up to two days to complete the enrollment process. You'll receive an email when you can start making payments.

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How much does it cost?

The fee for People Pay depends on the method of transmission. If you are sending funds directly to the recipient's bank account or the recipient's PayPal account, there is a fifty cent fee ($0.50). If you are sending an email address or mobile phone number or having a check mailed, there is no fee.

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What information do I need to send a payment?

Payment Method What you'll need

Deposit to bank account: Funds are sent directly to the recipient’s bank account.

Recipient's bank routing and account number

Send money instantly using PayPal: Funds are sent to the recipient’s PayPal account.

Recipient's email address or mobile phone number

Send to email or mobile phone number: Pickup instructions are sent to the recipient via email or text to give them the choice of having their funds deposited into their bank account or their PayPal account.

Recipient's email address or mobile phone number

Mail a check: A check with the your account number and the Bank's routing number is mailed to the recipient.

Recipient's U.S. mailing address

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How much can I send?

Depending on the method of transmission:

Payment Method

Transaction Limit

Daily Limit

Deposit to bank account

$750

$1,500

Send money instantly using PayPal

$250

$500

Send to email or mobile phone number

$250

$500

Mail a check

$2,500

$2,500

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How quickly will my payment be received?

Payment Method

Timeline

Deposit to bank account

Payments are sent via ACH and are sent in the next ACH window and received in 1-2 days.

Send money instantly using PayPal

Payments are sent immediately and the funds can be received in 1-3 business days after completing the transaction and claiming the funds.

Send to email or mobile phone number

Dependent on what payment method the recipient chooses, but the recipient must first accept or decline the payment.

Mail a check

A direct check is cut at end of business day and works the same as Bill Pay today.  Delivery time is dependent on the U.S. postal service but typically is 5-7 days.

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When does the payment come out of my account?

The way you send the payment determines when your account is debited for the money:

Payment Method

Debit to Your Account

Deposit to bank account

As soon as you authorize your payment.

Send money instantly using PayPal

As soon as you authorize your payment.

Send to email or mobile phone number

When the recipient claims the payment.

Mail a check

When recipient cashes the check.

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How long does the receiver have to claim the payment?

Payment Method

Expiration Period

Deposit to bank account

Because the payment happens in real-time and either succeeds or fails, there is no expiration.

Send money instantly using PayPal

Payment happens in real-time and either succeeds or fails. No expiration. If the Recipient does not have and does not open a PayPal account, the PayPal Payment must be permitted to expire and PayPal will return the debited amount to your Account. This typically takes 30 calendar days.

Send to email or mobile phone number

The Payment will expire in 10 days if the Recipient does not claim it.

Mail a check

The Direct Check has Marblehead Bank’s routing number and your account number as the funding account and a system generated check number.  Direct Check payment may be cancelled if the check has not cleared by telephoning us at 1-800-475-1871 to place a Stop Payment on the check.  After (90) days, these checks are not negotiable and considered stale.

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Can I cancel or edit a payment?

Payments sent to email or mobile phone number may be cancelled if the recipient has not claimed or picked up the payment yet. However, all other payment types begin processing immediately after you click the button to submit the payment and cannot be edited or cancelled.

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Can I make a payment outside the United States?

People Pay is only currently available for transfers to accounts within the United States.

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Why not just use Bill Payment?

Bill payment wasn't designed for the purpose of paying "people". Bill Payment was designed to pay your bills! If you pay an individual through Bill Payment you need to have their full name and address and it could take up to 5 business days for them to receive a check. With People Pay all you need is a mobile phone number, email address or the recipient's bank account information to send a payment, FAST!

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Questions?

If you still have questions, please give us a call! You'll be glad you did!

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