Pay a person allows online banking users to pay other individuals electronically.
This digital payment method is fast, simple, and secure!
How it works:
Click on Pay a person under your dashboard.
You can “Add a contact” or once added pay the same individual again.
You will be sent a verification code for security.
When adding a new contact, you will need their name and either their phone number or email. This is how they will receive notice of your payment.
You will also type a security question and answer. The person receiving the payment must be able to answer your security question.
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Next you will enter the amount, a memo if you wish, and select the LSB account that you want to pay them from. You will also select the date of your payment and if you want a one-time payment or a reoccurring payment.
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The person you are paying will receive notice right away and will answer the security question you set. They can then select how they would like to receive the payment. Options are: Entering their bank information (non-LSB) and they will receive the payment in 1-2 business days, entering their LSB bank account information and will receive funds instantly, or entering their debit card number and receive funds instantly for a fee of $2.00 per transaction.
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Other information:
This service has its own independent fraud monitoring service for extra security.
Minimum amount to transfer is $5.00.
In your account history, a transaction made through Pay a person will read as PayRailz Withdrawl PERSON PAY (name of who you paid).