Peer-to-Peer Payments (P2P)

What is P2P? P2P stands for Peer-to-Peer. These are tools that will allow you to transfer money to or request money from people no matter where they bank without having to use cash or check.

P2P apps act as a passthrough or bridge to other institutions. Many have gone to lunch with a friend and had that awkward conversation about who will cover the bill, who will pay the other back, and how. These P2P apps take that worry out of the equation and give stress free options for you to send money. You usually will get a statement each month from the app so you can keep track of your spending too.

How Do I Get My Money?

Many of these apps offer different options for receiving money including direct deposits, quick deposit, or a pay card. Most times, the quick deposits will be instant using your linked debit card, but will also have a small fee. Sometimes there is a flat fee and other times it will take a percent of what you are accepting in your deposit. Make sure to carefully consider if these fees are worth it, or if you can wait a day or two for your funds.

At Evergreen Credit Union, we work with Plaid to make connected P2P apps easy for our members. Through Plaid, you are able to pair your Evergreen account with most P2P apps using your online banking credentials. Popular Plaid-based apps include CashApp and Venmo. Zelle is not compatible. Make sure you are selecting Evergreen Credit Union – Wisconsin.

To protect you from fraud, there are transaction limitations when using P2P apps. Some limits are applied by the app, while Evergreen has a daily debit card limit. Please contact that credit union at (920)729-2999 if you need to increase your your daily debit card limit.

About Plaid

A huge part of integrating P2P apps in your financial experience is safety. Plaid is described as a privacy tool and they take your security as seriously as we do. They will always let you know what information they are using and how they are using it, as well they make it easy for you to control where your information is shared through them. Plaid also has fraud monitoring integrated into their services. Find more at their website: https://plaid.com/legal/

Information current as of 9/25/25. Subject to change without notice. Evergreen Credit Union is a money-smart and earth-kind financial in Neenah and Appleton, Wisconsin. Membership is open to everyone who lives or works in Outagamie, Waupaca, Waushara, Calumet, or Winnebago counties.