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Person2Person Payment

What is a Person2Person Payment?

A Person2Person Payment is an electronic payment from your 360 Checking that allows you to send money securely to anyone’s bank account. You can send it to another 360 Checking or 360 Savings or to someone’s checking or savings account at another bank, as long as it is in the U.S. It's really convenient and safe, just like PayPal.

How does a Person2Person Payment work?

It's pretty simple. Just follow these steps:

  1. Sign in to capitalone360.com, click on the 'Payments' tab and select 'P2P Payment'.
  2. Select the recipient's information from your address book if you've sent them a payment before or enter their name, email address and the last four digits of his/her account number if this is your first payment to them.
  3. Enter the amount and any note you want sent with the payment.
  4. Click 'Send Payment' and tell the recipient to look out for an email from you stating the payment is ready to be picked up.

Note: Once you press the ’Send Payment’ button, the money will be deducted from your account and an email will be sent to your recipient. They'll use the link within the email to go to a secure page and confirm where the money should be sent. Provided their entry matches what you initially entered, the transfer will be completed!

A Person2Person Payment to another Capital One 360 account takes place at the time account information is confirmed – instantaneously.

A Person2Person Payment to an account outside of Capital One 360 takes up to 2 business days to post after the recipient picks up the payment.

Keep in mind, if the recipient changes their first or last name, you'll need to update their name in your address book for future payments to go through successfully.

Is a Person2Person Payment secure?

Yes. Sending a Person2Person Payment is secure because your recipient only needs to give you the last four digits of their account number for the transfer, but, they'll still input their full account info when they pick up the payment. The money is transferred using the Automated Clearing House (ACH), the same secure way all transfers are made at Capital One 360. In comparison, paper checks show the entire account number. In this case, less is definitely best.

Does a Person2Person Payment expire?

Yes, the payment will expire after 45 days, but the recipient will get reminder emails after 15 and 30 days. You can also resend the P2P Payment email, if the recipient can't find 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:

  1. Sign in to capitalone360.com with your Customer Number/Saver ID (Username) and PIN
  2. Click on your ‘360 Checking’
  3. 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 – convenience should always be 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 that we are only asking them to provide you with the last four digits of their account number. When they pick up your payment,  they'll confirm their full account information without needing to give it to you. Plus, 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:

  1. Sign in to capitalone360.com
  2. Click on your '360 Checking'
  3. In the "History" section, click on the payment you are interested in
  4. Review the P2P Payment Status on the second line of the P2P Payment Details page

Where can I send a P2P Payment from?

You can securely send them from a mobile device (if the person is already in your address book) or computer.

Can I send a P2P Payment to myself to test it out?

You sure can. Just follow the same steps you would to send a P2P Payment to someone else, but enter your own information instead.

Do I have to add someone to my address book every time I send a P2P Payment?

No. Once you enter the recipient's information, they're in there for good. This makes sending P2P Payments lightning fast. 

Keep in mind, if the recipient changes their first or last name, you'll need to update their name in your address book for future payments to go through successfully.

When is the money taken out of my account when sending a P2P Payment?

Once you press the ’Send Payment’ button, the money will be deducted from your account and an email will be sent to your recipient.

How do I pick up a P2P Payment?

You will receive an email from the sender with the subject line, "Your Person2Person Payment is Ready to be Picked Up." In order to pick up the payment, you need to click on the link within the email, which will redirect you to a secure page that asks you to enter your full account information where the money should be sent. Provided the account information matches what the sender initially entered, the transfer will be completed.

A Person2Person Payment to a Capital One 360 account takes place at the time account information is confirmed – instantaneously.

A Person2Person Payment to an account outside of Capital One 360 takes up to 2 business days to post after the recipient picks up the payment.

Do I need to have a Capital One 360 account to pick up a P2P Payment?

Nope. P2P Payments can be sent to any checking or savings account in the U.S.

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