Paying someone back for purchasing that concert ticket or banquet meal for you has gotten easier with technology and smartphones.  No more hand writing checks and popping them in the mail.  And you have several options these days.

PayPal has been around for years and now has their own app so that transactions can be created from your phone or device.  You may have already used it to purchase items online from Etsy or another retailer.  All you need to pay back a friend is their email attached to their PayPal account.  Obviously, they need to have an account set up, as do you, with a bank account linked.  Your friend can then transfer the funds into their linked account or use those funds for their PayPal credit account.  PayPal also allows you to link a credit card for payment.

Impress your grandkids this year and instead of sending a birthday check, send them funds through Apple Pay!  Of course, both you and your grandkids would have to have an iPhone or iPad.  You will have to have a debit card or bank account linked to your Apple Pay app on your phone (sorry, no credit cards for transferring funds) then you go to the Messaging app, click on your conversation, and “Hello Junior, Happy Birthday! Here’s some fun money for your special day. Grandma loves you!” click the icon under the message field and viola!,  Junior is in the money and Legos ensue.

Now, if you are more comfortable on a desktop you might try your bank’s money transfer app.  Many use a service called Zelle, (where your payee will link to their own bank account) you go to your bank’s online site, put in their email or cell phone number, set up the payment and off it goes.  The payee receives an email or text letting them know you have sent a payment and they take it from there.

There are, of course, more apps and services than these that you can find.  Do be careful however, and do a little research.  You want to use a reputable service from a reputable company.  Ask your bank, your financial savvy friends, or of course, the teenagers in your life.  When in doubt call customer service to find out how the service works. 

And, our advice, never use one of these fund transfer services to pay someone you DON’T know well or haven’t met.  If you just found the greatest deal on craigslist for that bike you’ve been wanting, please never pay before you have received the merchandise.  Besides, there is no need, these services are so quick you will both be able to confirm the payment seconds before you saddle up and ride off to train for the Tour de Palm Springs!