PM Methodology
One of three options offered by PM is to send money to a contact for which a bank account and routing number is provided. If you are asking about the legality or legitimacy of allowing someone to deposit money to a bank account without prior permission, I can't say. But this approach is similar to a wire service, so I think money can always be sent to a bank-account-number/bank-routing-number.
So, basically, from my PM page within my Credit Union's online banking page, I created a contact named NoAgenda Show and provided the bank account and bank routing number. I then sent funds to this contact.
I do not believe PM really wants the sending of monies directly to a bank account to be a primary method. In fact, my mobile banking app doesn't even offer it - just the web app. There is nothing innovative about this. They probably support it because it is a natural thing to do and because the methods that they *do* wish to promote ultimately deposit to a bank account number and routing number, so why not?
What I think PM wants to promote is "easily sending money to anyone via their email address" or "easily sending money to anyone using their mobile phone number.” These options are useful.
Thus, three methods of sending money to a person are available: Email, Mobile Phone Number, and traditional bank transfer to a bank account (which is what I did).
Commentary: I think it is a good system, And they claim that over 1400 banks and credit unions support it. It is often free in these cases because these banks are also using Fiserv's banking software and paying a whole lot of money every year for the privilege. So it is a perk to the bank's customers. It is also possible for someone to sign up directly with PM in which case they pay around $1.95 per transaction.
Another problem I encountered was that PM wanted your mobile number in addition to the email address. I experimented with this and discovered that they only ask for this if $100 or more is being sent. They consider this to be extra secure (they may use it for a multi-factor authentication). I think this is potentially a great way for producers to donate. The service does support scheduled, recurring payments.
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