RBC customers can now transfer money on Facebook

RBC is the first bank in North America to set up money transfers using Facebook Messenger contacts, through the RBC Canada app.

The bank’s customers can now send an Interac e-Transfer directly to their contacts on Facebook Messenger.

Read: Appetite for mobile banking growing

Until now, sending an Interac e-Transfer required the recipient’s email address or a mobile phone number. Now, through the app, a client selects a recipient from her Facebook Messenger friend list, transfer the funds and provide a message for the receiver.

The receiver will receive a message in their Messenger inbox, and will be directed to log in to the Financial Institution of their choice to deposit the funds, just like with any Interac e-Transfer today.

“Every day, 9.4 million Canadians use Facebook on their mobile device,” said Jordan Banks, global head of vertical strategy and managing director, Facebook Canada.

As RBC will also donate $1 for every Interac e-Transfer messaged via Facebook in support of Kids Help Phone, up to $100,000.

Read: Protect clients’ digital estates

This new capability is available now on iPad, with iPhone coming in February 2014 and other platforms later in the year.

In July, RBC introduced the RBC Secure Cloud solution that allows clients to more safely and securely pay for purchases using their mobile devices, keeping sensitive client data secure with RBC in the cloud, not on the phone. The plan for RBC Secure Cloud is to work on all phones, with all carriers, all financial institutions, all card products, and all merchants.

Read: Rogers introduces mobile wallet

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.