Electric Orange Checking - Person2Person Payment
What is a Person2Person Payment?
A Person2Person Payment allows you to send money securely to anyone’s bank account. You can send it to another ING DIRECT Electric Orange or Orange Savings Account or to someone’s checking or savings account at another bank, as long as it is in the U.S.
How does a Person2Person Payment work?
After you enter the person’s information into your Address Book – his/her name, email address, and account number (and external bank routing number, if it's to a non-ING DIRECT account in the U.S.) – you click on 'Person2Person Payment’. Select the person you want to pay and enter the amount and any note you want sent with the payment.
Once you press the ’Send’ button, the money will be deducted from your account and an email will be sent to your recipient. Tell them to look for it. They can then use the link within the email to go to a secure page and confirm their account information. Provided their entry matches what you initially entered, the transfer will be completed!
A Person2Person Payment to another ING DIRECT account takes place at the time account information is confirmed – instantaneously.
A Person2Person Payment to an account outside of ING DIRECT takes up to 2 bank business days to post after the recipient confirms his/her account information.
Is a Person2Person Payment secure?
Yes. Sending a Person2Person Payment is secure because you and your recipient exchange information that only you two know. The money is transferred using the Automated Clearing House (ACH), the same secure way all transfers are made at ING DIRECT.
Does a Person2Person Payment expire?
Yes, the email payment will expire after 45 days. The recipient will get an email reminder after 15 and 30 days to remind them to pick up the payment. You can also resend the P2P Payment email, if the person cannot locate it.
Can I set up a future-dated Person2Person Payment?
Yes, you can schedule a future dated Person2Person Payment, up to 364 days prior to the delivery date. Keep in mind that you’ll receive an email 2 days before the payment is scheduled to be sent, reminding you when the payment will be debited and an email notification will be sent to the recipient.
How do I delete a Person2Person Payment?
To delete a P2P Payment:
- Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
- Click on your ‘Electric Orange’
- In the ‘History’ section, click on the transaction you want to cancel
- If the payment has not been picked up, click the ‘Delete’ button to cancel the payment
- If the payment has already been picked up, it cannot be cancelled
How much does it cost to use Person2Person Payment?
Nothing – it‘s completely free.
Are there any transaction limits on Person2Person Payments?
Yes. Each Person2Person Payment is limited to $5,000, and P2P Payments are limited to $5,000 per day, regardless of how many you make in a day.
My friends don't want to give me their account number – what can I do?
We understand the importance of security when it comes to account information. Remind your friends and family every time they wrote a check in the past, they were disclosing their account number, even if they didn't realize it. It's at the bottom of the check. Plus, unlike a paper check that touches many hands before being deposited, a Person2Person Payment is a secure, direct transfer between you and your friend.
How do I know if a Person2Person Payment has been picked up?
To see if the payment has been picked up:
- Select ‘Account Details’ from QuickLinks
- Click on the transaction
- The status of the payment is the first item on the Transaction Details page