How to Use Facebook Messenger to Send and Receive Money
You can do a lot more with Facebook Messenger than just chat—you can send payments to and request funds from friends who owe you money. If you spend a lot of time on Messenger, it could be a good way to send and receive money online.
On a desktop, you can use Facebook Messenger, and on a mobile device, you can make in-app payments. Whether you send or receive payments, they are always free.
You can easily split the cost of something with a group of people when you use Facebook Messenger to send and receive payments. For example, if a group discussion preceded an event, you can choose to split the payment among the participants.
Before using the service for payments, you should familiarize yourself with the following requirements:
Payments must be made with a Visa or MasterCard debit card issued by a U.S. bank or a PayPal account.
To use the service, you must be at least 18 years old.
You can send money to friends and family who you trust.
Both you and your friend must reside in the United States.
How to Transfer Funds
It’s about as simple as sending a private message to send money through Facebook.
Using Facebook’s Messenger app or the company’s website
Begin a conversation with the person you want to reimburse. Enter the amount you want to send by tapping or clicking the “$” icon. When you click “Next,” the money will be sent to you. If that icon isn’t visible, you should contact Facebook Support.
The Initial Payment
You must provide funding information the first time you use Messenger payments. It’s most convenient to submit this information while you’re making a payment. However, by modifying your payment settings, you can add or delete funding methods.
Enter your debit card number or PayPal account login information, as well as any other information that is needed. If you’re using a phone, you can also generate a personal identification number (PIN) during this process. Unauthorized purchases are stopped as a result of this. Choose a code that is difficult to decode and that no one else is aware of.
The money will be taken out of your checking account almost immediately because Messenger uses your debit card.
Before you use Facebook Messenger to make a payment, make sure you have enough money in your account to avoid overdraft fees, bounced checks, and other issues.
How do I get the money?
You’ll get a notification if someone sends you money through Messenger. Messenger will send the money right away if your debit card or PayPal account is already linked.
Please enter your account information.
To accept the payment, you must provide debit card information if you do not already have it on file. After that, funds will be transferred to the checking account associated with your debit card.
Facebook does not keep the money, but it may take several days for your bank to post the payment to your account.
If You Need Money Right Now,
If you need the money right away, Zelle could be a good alternative to Messenger payments because Zelle transfers are usually completed within minutes. You may already have access to Zelle through your bank, and when both your bank and the sender’s bank use Zelle, payments clear quickly.
Is it safe to make payments on Facebook Messenger?
Facebook claims to encrypt your personal information as well as your credit card information.
It also ensures that your financial information is kept separate from your account information.
However, as with any transaction involving money, you should take precautions to avoid fraud and other problems.
You can’t stop Messenger payments from going through, but recipients can refuse them if you make a mistake. Furthermore, the funds are immediately deducted from your account. Facebook makes no mention of consumer protection, and you’re not supposed to use Messenger for business transactions, such as eBay or Craigslist purchases.
Con artists may use this service in the same way that they use Venmo, Zelle, and other similar services.
Set up a PIN for Messenger payments to protect yourself (or Touch ID, if available on your device).
Touch ID and other biometric security features are only available on mobile devices when using the Messenger app. You have the option of skipping that extra step, but why take the risk?
Messenger payments are about as safe as they are with any other app or online service. In 2014, Facebook hired David Marcus, the former CEO of PayPal, to help with Messenger payments (so you would expect industry-standard security).
Facebook claims that all payment information, including your card number and transaction details, is encrypted. Facebook keeps that information “separate from other parts of the Facebook network,” and it devotes additional resources to fraud prevention.
The importance of privacy cannot be overstated. If you already have everything on Facebook and aren’t concerned about it, a little financial information may not be necessary. However, data can be mined and analyzed in unexpected ways, so keep that in mind when sending and receiving money. Your name, profile photo, and payment amount are shared with your friend and stored on Facebook’s servers when you make a payment in Messenger. When making a group payment, all members of the group can see the payment amounts, so pay one-to-one if that’s important.