Earlier today, MasterCard announced a free MoneySend application for BlackBerry smartphones. MoneySend lets MasterCard owners “Send,” “Pay,” or “Request Funds” in the United States person-to-person using their BlackBerry smartphone. To use the service, users link a credit card or bank account to a virtual prepaid MoneySend account, similar to what PayPal offers. Once setup, MoneySend users can manage their money, request funds, pay bills, and send money to others. Pretty cool right?
MoneySend is free, but there are a numerous fees involved. For example, it costs $0.29 to send $0-$50 to another account, $0.99 to send $50.01-$200, and $2.95 to send $200.01 or more. While MasterCard is currently offering free transfers from credit card or bank accounts into your MoneySend account, there is normally a 1.5 percent fee associated with that as well. However, transfering money back into a bank account is free.
For more info, head over to MasterCard’s MoneySend website. The app can also be picked up here at the BlackBerry App World.