This is an interesting development from Facebook. Facebook users can now send money to one another through the Messenger app. A dollar sign icon shows up above the keyboard which opens a payments screen where users can type the amount they wish to send. Facebook lets users add a debit card to their account which is used to fund the transfer to your friends. If a friend doesn’t have a bank account linked, it is simply held until he or she adds one. Everything is FREE.
You’ll need to add a Visa or MasterCard debit card issued by a US bank. Users can create a PIN or enable Touch ID if they have an iPhone to add a level of security to the payments.
The new feature will be rolling out to Android, iOS and the Web over the coming months in the US. It is definitely something to watch out for and hopefully we’ll get more details soon. When it is rolled out, you can use a rewards earning debit card, until we see some other opportunity.
To send money:
- Start a message with a friend
- Tap the $ icon and enter the amount you want to send
- Tap Pay in the top right and add your debit card to send money
To receive money:
- Open the conversation from your friend
- Tap Add Card in the message and add your debit card to accept money for the first time