What You’ll Love About Using a Mobile Wallet
March 28, 2022
You use your mobile device for nearly everything. Now you can use it to make everyday purchases. A mobile wallet is an app on your mobile device that stores payment information so you can use the device to make purchases. Whether you’re shopping online or in person, you can use your favorite RCU Visa® debit and credit cards in a faster and more secure method.
It’s only natural to feel a little wary when trying something new, so we’d like to put your mind at ease by sharing some key benefits of going mobile:
Convenience – The next time you leave your card at home, or you’re online shopping and your wallet’s not handy, you have convenience and peace of mind with 24/7 access to your cards digitally right on your mobile device.
Rewards – Mobile credit card payments function just like regular cards. If your card is compatible with the payment reader, you’ll continue to earn your usual rewards.
Touch-free – Looking for ways to reduce the amount of physical contact you have with potentially contaminated surfaces? By using a mobile wallet, you reduce the need to touch things other than your phone.
Safer shopping – Mobile wallets offer better security than swiping your physical debit or credit cards. With your mobile wallet, every single transaction is encrypted, which means your card number and PIN are never transferred or stored with the merchant, so they’re less likely to be compromised.
Time savings – No need to dig through your wallet and type in card numbers when shopping online. Now, you can just quickly hold your phone over the checkout terminal or select the mobile wallet option online and voilà!
Tap into the convenience of going digital. Set up your mobile wallet.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
Leaving Our Website
You are leaving our website and linking to an alternative website not operated by us. Redwood Credit Union does not endorse or guarantee the products, information, or recommendations provided by third-party vendors or third-party linked sites.