What Link Payment Is and How It Works

Link Payment is a way to send money to someone using just their phone number or email address, without needing their bank account details. The person receiving the money gets a notification and can claim it into their own bank account, even if they bank somewhere different from you.

The system works through a network that connects participating banks and payment providers. When you send money via Link Payment, it sits in a holding account until the recipient claims it. They then direct it to whichever bank account they choose. This makes it safer than sharing account numbers and faster than waiting for a wire transfer.

Link Payment is available through most major banks' mobile apps and online banking platforms. The exact name and process varies slightly by bank — some call it "Send Money by Phone Number" or similar — but the mechanics are the same across the network.

Key Takeaways

  • Link Payment lets you send money using only a recipient's phone number or email, not their bank account details.
  • The money goes into a temporary holding account and the recipient must claim it within a set timeframe, usually 7 to 14 days.
  • You initiate the transfer from your bank's app or website, and the recipient gets a notification to complete their side.
  • Both you and the recipient must be enrolled with banks or payment services that participate in the Link Payment network.
  • Transfer limits and fees vary by bank, so check your institution's rules before sending a large amount.

How to Send Money Through Your Bank's App

Start by opening your bank's mobile app or logging into online banking. Look for a "Send Money," "Transfers," or "Payments" section — the exact label depends on your bank. Most banks put this near the main menu or in a tab labeled "Payments" or "Move Money."

Select the option for sending money by phone number or email. You will be asked to enter the recipient's phone number or email address. Double-check this information carefully, because sending to the wrong number means the money goes to someone else's temporary account. Some banks let you save frequent recipients so you do not have to type the details each time.

Enter the amount you want to send. Your bank will show you any fees that explore — these are typically small, often $0 to $2, but vary by institution. Review the details one more time, then confirm the transfer. Your bank will send a confirmation to you and a notification to the recipient.

What Happens on the Recipient's End

The person receiving your money gets a text message or email notification (depending on which contact method you used) telling them money is waiting for them. The message includes a link or instructions on how to claim it. They do not need to be your customer at the same bank — they can claim the money into any bank account they have.

The recipient typically has 7 to 14 days to claim the money before it returns to your account. The exact window depends on the bank or payment network handling the transfer. If they do not claim it in time, you will see the money back in your account and may get a notification that the transfer expired.

Once the recipient claims the money, it goes directly into their chosen bank account. The transfer is final at that point — you cannot cancel it. This is why it is important to send to the correct phone number or email address.

Transfer Limits and Fees

Most banks set daily and monthly limits on Link Payment transfers. A typical daily limit might be $500 to $2,000, though this varies widely. Monthly limits are often higher, sometimes $5,000 to $10,000 or more. Your bank's app will show you your specific limits before you send.

Fees for Link Payment are usually small or free. Many banks charge nothing for sending money this way, while others charge $1 to $2 per transfer. Some banks waive fees for customers with certain account types or balances. Check your bank's fee schedule or ask customer service what you will be charged.

The recipient typically pays no fee to claim the money, though this can vary by their bank. If you are sending money to someone at a smaller bank or credit union, ask them first whether they charge a fee to receive Link Payments.

When Link Payment Does Not Work

Link Payment only works if both you and the recipient have banks or payment services that are part of the network. If the recipient's bank does not participate, they will not receive a notification and cannot claim the money. Your bank's app usually tells you whether a phone number or email is registered with a participating institution before you send.

If the recipient's number or email is not in the system, you have two options: ask them to register with a participating bank first, or use a different payment method like a wire transfer, ACH transfer, or a third-party app like Venmo or PayPal. Your bank can tell you which other methods are available.

Link Payment also does not work for international transfers. If you need to send money outside the United States, you will need a wire transfer or an international money transfer service.

Security and What to Watch For

Link Payment is generally safe because the recipient must actively claim the money — it does not automatically deposit into their account. This means if you send to the wrong number by mistake, the person who receives the notification cannot access the money without knowing the recipient's identity or having access to their phone or email.

However, you should still be careful about who you give your phone number or email to for payment purposes. If someone asks you to send them money via Link Payment, make sure you trust them and that the request is legitimate. Scammers sometimes pose as friends or family asking for urgent money transfers.

If you send money to someone and they claim they never received it, check your bank's transaction history first. The money may still be in the temporary holding account waiting to be claimed, or it may have expired and returned to you. Contact your bank's customer service if you cannot find the transaction.

Alternatives to Link Payment

If Link Payment is not available or does not work for your situation, several other options exist. ACH transfers let you send money directly to someone's bank account if you have their routing and account numbers — these are free but take 1 to 3 business days. Wire transfers are faster (often same-day) but cost $15 to $30 and require the recipient's full banking details.

Third-party apps like Venmo, PayPal, Square Cash, and Zelle offer similar send-by-phone functionality. Zelle, in particular, works through many banks' apps and is similar to Link Payment. Venmo and PayPal are separate apps but widely used for peer-to-peer payments. Each has its own limits, fees, and processing times, so compare them based on your needs.

For large amounts or regular business payments, ask your bank about bill pay or recurring transfer options. These give you more control and often lower fees than one-time transfers.

Frequently Asked Questions

Can I cancel a Link Payment after I send it?

Yes, but only before the recipient claims it. Once they claim the money into their bank account, the transfer is final and cannot be reversed. If the money is still in the temporary holding account, contact your bank right away to cancel it. You will get the money back, usually within one business day.

What if I send money to the wrong phone number?

The money goes to a temporary account tied to that phone number. If the person who receives the notification is not the intended recipient, they cannot claim it without additional verification. Contact your bank when ready and ask them to cancel the transfer. Do not wait — the longer you wait, the more likely the recipient will claim it.

How long does Link Payment take?

The recipient gets notified when ready or within minutes. Once they claim the money, it usually appears in their bank account within one business day, though some banks process it faster. The entire process from send to deposit typically takes a few hours to one business day if the recipient claims it right away.

Do I need the recipient's bank account number?

No — that is the main advantage of Link Payment. You only need their phone number or email address. The recipient chooses which bank account to deposit the money into when they claim it, so you do not need to know their banking details in advance.

Is there a limit to how much I can send?

Yes, your bank sets daily and monthly limits. These vary by institution but typically range from $500 to $2,000 per day. Check your bank's app or call customer service to find out your specific limits. If you need to send more than your limit allows, you may be able to request a higher limit or use a different payment method.