Starting Out On Your Own, Managing Your Finances
Why We Love (and Need) Wallet Pay Apps Right Now
Date:15 June, 2021
Have you ever gone to dinner with a group of friends, but the restaurant wouldn’t split the check? Or—given the new social etiquette after the recent COVID-19 pandemic—would you like to avoid passing cash and cards physically between you and others? Rather than worrying about carrying around your most valuable financial assets, now we have smartphones to solve this problem.
Safe, convenient Payment App technology such as Apple Pay®, Google Pay™, and Samsung Pay® offer a better way to manage your personal finances by storing multiple credit cards or banking account/debit card numbers in a secure online “wallet” ready to complete your purchases quickly. This service is now compatible with your TGB debit card. Depending on your type of phone, and the app you choose to download, you may be able to pay by tapping your phone at a point of sale rather than swiping a debit or credit card. Other payment apps or phones could allow you to pay by displaying a code that the cashier can scan.
Here’s what you need to know about how wallet pay apps make sending money simple:
Pay Quickly at the Store
If you constantly find yourself fumbling through your bag trying to find the right card to pay, just link your credit cards or bank accounts/debit cards to the wallet app of your choice to make payments without having your cards or checks in hand.
Many Ways to Send Cash to Friends
Most wallet apps allow you to send money to an email address or phone number, while others let you send money to your friends through several social media channels.
It’s Important to Know How Each App Works
First, you’ll want to make sure the payment app is compatible with your phone. For instance, Apple Pay® won’t work on Android™ devices and vice versa. You’ll also want to consider how much the app costs to use. Most payment apps allow you to make and receive payments for free if you’re using a bank account/debit card or an app balance (meaning money that was sent to you through the app that you haven't yet transferred to a bank account). Note that other fees or limitations may apply. Be sure to carefully read the account policy rules for your chosen wallet app to confirm.
Privacy & Security Built into Every Payment
Using wallet pay apps is safer than swiping your card or paying with cash. Keep credit cards, debit cards, transit passes, and more stored in the secure mobile/digital wallet of your web-enabled phone/device for quick, easy access. Another nice perk is that you don’t have to worry about canceling a bunch of cards when you lose your wallet or purse. Even if you were to lose your phone, as long as it is adequately secured, you don’t have to worry about someone else accessing your payment information. Remember: All of the methods of access to your phone/device in turn allow access to your mobile/digital wallet. Therefore, it is critical to keep your phone/device secure, as well as the associated passcodes and all other methods that allow access to the device/phone.
Never Hand Over Your Card Again
Make life easy by sending money electronically to a friend (or even a whole group of people) to split expenses for dinner, bills, rent, and more. Wallet pay apps help you do the math and keep track of how you spend your money.
For questions or help with our banking services,
call the Texas Gulf Bank Customer Service Team at 800-467-7216.
*Money Market and Savings Accounts:
We prohibit transfers from these accounts to third parties by POS (Point of Sale); this also includes TGB Debit Card payments made via Mobile Pay Apps/Mobile Wallets. Other account and card limitations are reflected in disclosures provided at account opening (or later as applicable) or upon request.
Apple, the Apple logo, and Apple Pay are registered trademarks of Apple Inc., registered in the U.S. and other countries.
Android and Google Pay are trademarked products of Google, LLC, a subsidiary of Alphabet, Inc.
Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd.