For much of the last decade, person-to-person payment technology has let bank customers move money directly into one another’s accounts using Internet or mobile phone technology. It’s hard to believe that a little over 10 years ago, this innovation (also known as “P2P”) didn’t exist. But by 2008, 3 billion P2P transactions were made in the United States. Since then, more and more banks have decided that P2P technology is a must-have offering.

This past summer, Ally unveiled Popmoney, a person-to-person payment system. Popmoney is an amazingly easy way for Ally Bank customers to transfer money to anyone with a telephone number or e-mail address. It comes in handy when you’re short on cash but need to reimburse a friend for movie tickets, or need cash to pay the neighbor who mows your lawn. And Popmoney is secure, convenient – and best of all, costs nothing to use.

Customer nicknamed ‘HappyWithAlly’ pointed out on our Ratings and Reviews page just how simple and convenient it is to use. “I love the ease of transferring back and forth between accounts!” they told us.

We’re happy to bring the convenience of P2P technology to all of our Interest Checking, Online Savings and Money Market Account customers. If you’re not yet banking with Ally, Popmoney is just one of many offerings that may make it worth your while to switch.

Have you used Popmoney to send funds to someone? Which of Ally’s services make your life easier?