Can I use P2P apps like Venmo, Zelle or Cash App with my Haverhill Bank account?
Yes. Although these services are stand-alone apps that are not integrated within the bank’s mobile app or online banking system, customers can still utilize P2P apps regardless of whether or not the bank is a participating financial institution. In most cases, you only need to download the app and enter your Haverhill Bank account number & routing number (211370053) OR Haverhill Bank debit card number to link your bank account.
Are P2P payment apps secure?
While they do offer some security features, these apps are advertised as a service to be used only for sending money to friends, family or someone you know personally.
FYI - Fraudsters have started using P2P payment apps in scams, tricking people into sending money for products/services not yet received. Unlike debit/credit cards, the apps offer no (or very limited) protections regarding fraud and it’s nearly impossible to get the funds back. In most instances, you are liable for any transfers that you initiate.
Are there fees to send/receive money or transfer money to my bank account?
It varies by app & service; please refer to the app's Terms & Conditions to understand their fee structure(s).
Is there FDIC coverage for the funds I send/receive using P2P apps?
It varies by app & service; refer to the app's Terms & Conditions to understand your coverage.
Venmo is a service of PayPal, Inc. Zelle® is a trademark of Early Warning Services, LLC. Cash App is a payment service and financial platform offered by Square, Inc. Haverhill Bank is not associated with, or responsible for, losses as a result of using person-to-person payment apps.