What are Person-to-Person (P2P) payments?

Person-to-Person (P2P) is a convenient way to send money to anyone with a United States bank account using Guaranty’s Mobile Banking App or Online Banking.

What does it cost to use Guaranty Pay?

There is no fee for Guaranty Pay.

What options are there to send a Person-to-Person payment?

Person-to-Person payments can be sent using either the recipient’s email address or mobile phone number.

Is there a limit to the amount I can send via Guaranty Pay?

The daily limit is $500 and the weekly limit is $1000.  However, the amount of each payment is also subject to your daily debit card limits.  

How many Person-to-Person payments may I make in a day?

There is no daily limit to the number of Person-to-Person payments.

Does the recipient have to be enrolled in Guaranty Pay to receive a payment?

No, but they need to have a United States bank account to receive payment.

What is the timeline for payments to be received by the recipient?

The timing of funds received will depend on when the person receiving the funds responds to the email/text message and when their financial institution posts the transfer.  The posting of the transfer depends on the business day of their institution.  In general, if the recipient elects to receive the funds by entering their debit card information, it is made at the time they submit this information.  If the recipient elects to receive the funds by entering their routing and account number, then it may take 1-3 business days to post to their account.

When is the payment debited from my account?

The payment is debited from your account when the payment is sent.

How long does a recipient have to claim a payment?

The recipient has up to 10 calendar days to claim the payment after it is sent.

What happens if my recipient does not claim the payment?

If the recipient has not accepted payment within 10 calendar days, the funds will be deposited back to your account.

What do I do if I need to cancel a payment that I’ve already sent?

If the recipient has not claimed the payment, then you may cancel the payment.  Simply log into Guaranty Bank & Trust mobile banking app and select “More” and then “Guaranty Pay.”  When in Guaranty Pay click “Menu,” select “Transaction History,” click “Cancel” and then “Cancel Payment,” or you can log into online banking and select “Accounts” and then “Guaranty Pay.”  When in Guaranty Pay click “Menu,” select “Transaction History,” click “Cancel” and then “Cancel Payment.”

Can I use a debit or credit card from another financial institution to send funds?

No.  Only Guaranty Bank & Trust debit cards may be used to fund transactions.

Can a Person-to-Person payment be made for commercial purposes?

No, it generally cannot be used for commercial purposes.

Can I request money from someone?

No, with Person-to-Person payments you can send money, but not request it from someone else.

Is my personal information shared with my recipient?

No account or financial information will be shared with your recipient.  In order to process your transaction, we may share your name, email address and phone number with the recipient, in addition to anything you enter into the optional memo field.

Note: Card Valet users must have preferences set to allow for e-commerce transaction in order to process payments.

For questions about Guaranty Pay, stop by one of our locations or call (888) 572-9881.