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Changes Are Coming To Funds Transfer And Popmoney

Our Popmoney and Funds Transfer features will be replaced by a new external transfers feature on Nov. 19, 2020. This page provides specific details about the transition, including important deadlines and actions that you may need to do before the change happens.

Popmoney Change Information
Funds Transfer Change Information

Popmoney Will Change To External Transfers On Nov. 19

From Nov. 17 to Nov. 19, 2020, we will be replacing our Popmoney service with a new external transfers system. This change affects Members like you who have used Popmoney to send money to other people.

Important Deadlines

  • On Nov. 17 at 4 p.m., Popmoney access will end. No contacts, history, or future scheduled transfers will be migrated from Popmoney to the new external transfers system.
  • Popmoney transfers scheduled after Nov. 17 will be cancelled. Popmoney transfers that are waiting for the recipient to accept funds as of Nov. 17 at 5 p.m. will continue to allow the recipient to receive funds for the normal acceptance time.
  • On Nov. 19 at 8 a.m., the new external transfers system will be ready to use! You’ll find it under the Move Money menu in online banking or the More menu in our mobile app. You’ll be able to set up your contacts and scheduled transfers and start sending people funds.

What To Do Before The Change

  • Create a record of your current Popmoney contacts and transfer history if you wish to keep them. You’ll need to set up your contacts and scheduled transfers in the new external transfers system on or after Nov. 19. 
  • For Popmoney contacts that use the recipient’s financial account information, plan to use the recipient’s mobile phone number or email address instead. The new external transfers system does not support using recipient account information.
  • In Popmoney, Members could also request incoming funds from their contacts. Please note that this feature will not be available in the new external transfers system.

Funds Transfer Will Change To External Transfers On Nov. 19

From Nov. 17 to Nov. 19, 2020, we will be replacing our Funds Transfer service with a new external transfers system. This change affects Members like you who have used Funds Transfer to move money between Royal and non-Royal accounts.

Important Deadlines

  • On Nov. 12 at 5 p.m., we will migrate your non-Royal account information to the new external transfers system. Non-Royal accounts that are not in an approved status and non-Royal accounts added after that time will not migrate.
  • On Nov. 17 at 4 p.m., Funds Transfer access will end. Transfers that are processing during this time will still be completed within three days.
  • Any Funds Transfer account transfers scheduled after Nov. 17 will be cancelled. 
  • On Nov. 19 at 8 a.m., the new external transfers system will be ready to use! You’ll find it under the Move Money menu in online banking or the More menu in our mobile app. You’ll be able to set up transfers between your Royal accounts and non-Royal accounts.
  • After November 19, 2020, your use of the external transfer service to transfer funds to or from a migrated external account indicates your agreement to our External Transfer Agreement. Read the External Transfer Agreement here.

What To Do Before The Change

  • Create a record of your transfer history and any future scheduled transfers if you wish to keep them. You’ll need to set up any scheduled transfers in the new external transfers system on or after Nov. 19.