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FAQ’s About InstaPay

What is instaPay™?

instaPay™ is a new way to send money that’s instant, simple, and secure. It can be used to send funds to almost any Financial Institution in the U.S. and the only information you need to know is either the email or cell phone number of the person you want to send money to.

How long does it take for funds to be received?

The receiver must first accept the request and choose a method of deposit. If the receiver provides their account and routing number their account will be credited within 1-2 business days. If they provide debit card information credit can been seen within minutes.

Why won’t instaPay™ accept my friends debit card information?

Some Financial Institutions have not made their debit cards elligible for these types of transactions yet. In this situation account and routing would need to be provided for the deposit instead.

How will an instaPay™ transaction appear on my account?

These transfers will appear on your account like any merchant transaction would when using debit card and pin number.

Can I use instaPay™ Internationally?

No, only Financial Institutions located in the U.S. will be compatible with instaPay™.

Are there any fees for using instaPay™?

Not at all, instaPay™ is absolutely free for our members!

How safe is instaPay™ to use?

Keeping our members accounts safe is a top priority at Altura. That’s why we made an effort to provide a person to person transfer system that can be accessed from the security of your online account. instaPay™ offers a great service and takes away the risk of providing sensitive account information to another company.

What will happen if the receiver uses incorrect account information?

This will depend on the method chosen for deposit. If incorrect card information is provided the transaction will fail and funds will be placed back into the sender’s account. If an incorrect account number is entered then it will either fail or, someone else will receive credit for this transaction and the receiver would have to contact their Financial Institution.

I was sending money to a friend and entered the wrong phone number. What do I do!?

Please call us at 888-883-7228 so we can cancel the transfer on your behalf as soon as possible. As long as the transfer hasn’t been accepted by the receiving party canceling the transaction shouldn’t be a problem.

Will the person I’m sending money to be notified?

Yes, the person receiving your transfer will be notified by text or email, your choice. They will then be asked to enter either their debit card information or account and routing number.

What will happen if I send money and the other person forgets to accept it?

After a waiting period of 10 days the transaction would be reversed and your account would be credited.

Is there a limit to how much I can transfer through instaPay™?

Yes, there is a daily limit of $500.00

Can anyone who banks with Altura use instaPay™?

In order to use instaPay™ members must be 18 years or older and have a personal checking account; MyMoney and Business Accounts for instance will not have this feature available to them.

Who can I send money to with instaPay™?

Anyone with a debit card or account and routing number can be sent money using instaPay™. The only exception is Instapay cannot be used if the receiver’s Financial Institution is outside of the U.S.

What’s the difference between using Instapay and using Bill-Pay?

Bill-Pay is great for managing bills but instaPay™ gives you access to real-time transfers on the go. Need to split a purchase with a friend? No problem, instaPay™ can credit an account within minutes. Bill-Pay would take at least 2 business days.