Person-to-Person (P2P)

P2P is now available at Morgan Federal Bank!



Put an end to splitting checks or figuring out how to send your roommate money for half the rent!  Send money quickly, safely, and conveniently to friends and family, by using your web-enabled mobile phone or computer.


Frequently Asked Questions

What is Person-to-Person (P2P)?

Person-to-Person (P2P) is a service that allows you to send money to virtually anyone who has a bank account and an email address. It is easy, convenient, secure, and fast.

What do Person-to-Person (P2P) payments cost me?

You can use Person-to-Person (P2P) to send money for only $0.50 per transaction, regardless of the transaction amount. Charges will be deducted from your account once a month.

Do I need to be a Morgan Federal Bank customer to use Person-to-Person (P2P)?

Yes and no. To send money you need to be a Morgan Federal Bank customer. However, the person receiving the funds does NOT need to be a customer of Morgan Federal Bank.

Who can I send funds to?

You can send funds to anyone in the United States who has an email address and bank account. For example, you can:

  • send money to friends
  • send money to your children in college
  • pay your sitter
  • pay the neighborhood lawn service

How do I enroll to use Person-to-Person (P2P)?

You will need to be an Online or Mobile Banking user. Once you are enrolled for Online or Mobile Banking, you can use Person-to-Person (P2P). Person-to-Person (P2P) is not available to businesses.

How do I send money using Person-to-Person (P2P)?

It is very easy to send money:

1. Log in to Online or Mobile banking.

2. Under ‘Transfer Funds’ on the menu bar, Click <Person-to-Person (P2P)>.

3. Enter the name, the amount, the email address, and a password you will share with the recipient. If you have paid this recipient before, we remember their information so you don’t have to type it again.

4. The recipient will receive an email, browse to a secure URL, enter the payment password, provide their bank information within a secure portal, and accept the payment request.

5. In one to two business days, the funds will be delivered to the recipient’s bank account.

It’s that easy!

Is Person-to-Person (P2P) secure?

Security is important to Morgan Federal Bank. Several things ensure that the account information of both you and the recipient remains secure:

Neither the sender nor the recipient needs to know the other’s bank account information, and no card number is exchanged.
The recipient’s account information is encrypted within a secure portal.
Funds are transferred securely via ACH, not via email.
How much money can I send using Person-to-Person (P2P)?

Person-to-Person (P2P) payments are limited to amount greater than $1 and less than $1,000. You can transfer up to $1,000 per day.

Can I send funds outside the USA?

No. Funds can only be sent to banks inside the United States.

Does the recipient have to have an email address?

Yes. The recipient must have an email address or know the email equivalent of their mobile phone number.

What if all I know is the person’s cell number?

At this time, sending payments via a cell number is not available.

When does the money leave my account?

The money leaves your account immediately when the receiver accepts the payment.

How long will it take for the recipient to receive the funds?

Normally, it takes two business days for the funds to reach the recipient after they have accepted the funds.

What email alerts will be sent?

Email alerts are sent immediately after a payment is created to notify both the sender and the recipient of the requested payment.  Other alerts may be sent to the sender, including when an unaccepted payment is about to expire, when a payment has been altered or deleted, and when a new recipient has been created or deleted.

Will the receiver see my account number?

No. Neither party sees the other’s account information.

Do I need to know the receiver’s account number?

No. Both parties only need to know their own account number.

What if the receiver doesn’t accept the funds?

If the receiver doesn’t accept the funds within a designated time period, both the sender and the receiver will receive an email message warning them that the payment is about to expire. When a payment expires, the receiver can no longer receive those funds. The sender may choose to send a new payment.

What happens if I don’t have enough money to cover the payment?

You will receive an alert telling you that you do not have sufficient funds. The receiver will also receive an email stating that there was an issue and that they should contact you to check on the payment. No information will be given to the receiver about the lack of funds.


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If your ATM/Debit card is lost or stolen, please contact us immediately at 970.867.2443 Monday through Friday. On weekends, holidays, or after-hours please call 1.800.523.4175.

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