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The current technological development has enabled Facebook developers to develop a way of sending and receiving money using the FacebookMessenger on Android and iOS phones.

It aims at making the social network more interestingto increase the number of users on a daily basis as never experienced before. You can conduct the transaction (either sending or receiving money) with your Facebook friends who are always active, and you normally chat with them through the Facebook Messenger app on your phone.

Now,this kind of money transactions over the Facebook Messenger is only applicable to bank accounts which are within the United States, but still the service has a voluminous potential customer.

The other money transaction systems being used globally usually charge a transaction fees for any transaction done by the users and the charges depends on the amount being transferred. However, this method rolled out for transferring money via Messenger does not charge any transactions fee for sending or receiving money. It is free of charge. What a good advantage to the users?

The following are the simple steps to follow so as to either send or receive money on your iOS or Android phone using the Facebook Messenger app.

To send money to your friend

  • Open Facebook Messenger on your phone, either Android or iOS phone.
  • Start a conversation with a friend then taps the settings icon located at the upper right Conner.
  • Click payment option and click the $ sign
  • Enter amount that you want to send
  • Enter your debit card’s details, the debit card should be the one issued by the banks based within the US.
  • Tap on the pay icon located at the top right on your screen.

After following the above procedure, money will be transferred from your bank account to the bank account of your recipient automatically. Remember that the process is free so you are not going to be chargedany transaction fee.

In case you would want to send money to the same friend next time, you will not have to follow the whole procedure but instead you simply: start a chat with the friend, click the dollar sign, enter amount to send then click send.

To receive money from a colleague

  • Open your conversation with the friend
  • Tap add card displayed in the message then add your debit card details.
  • Tap on the“accept money using this card” option so as to receive the money in your bank account.

Point to note is that the transaction may take a number ofdays depending on the bank system you are using. You can also set up a personal PIN number that should be requested for whenever you are doing any transaction using Facebook Messenger. This enhances security to your transactions.