Overview

First Horizon’s person-to-person payments service enables customers to initiate real-time and near-real-time transfers using mobile banking, online banking, or in-branch assistance. The service supports transfers between First Horizon accounts and transfers to recipients at other banks or via supported digital networks. Designed for simplicity, the workflow guides users through recipient setup, transfer amount, optional memo, and confirmation, making recurring or one-time transfers intuitive and transparent.

Key Features

• Instant and Scheduled Transfers: Choose immediate delivery when available or schedule a payment for a specific future date.
• Multiple Funding Sources: Use checking, savings, or eligible linked accounts to fund transfers, with clear display of available balances.
• Recipient Management: Add, edit, and organize recipients with nicknames, labels, and transaction history for quick reuse.
• Payment Methods: Send via internal account transfer, ACH, or supported real-time networks where available, with the method clearly indicated before confirmation.
• Split Payment Tools: Easily split bills and request payments from multiple people with a single action, with automated reminders for outstanding requests.
• Notifications and Receipts: Real-time push notifications, email confirmations, and downloadable receipts for record-keeping and expense tracking.
• Limits and Controls: Daily and per-transaction limits help manage risk and exposure, while account-level controls let customers set additional internal thresholds.

Security and Privacy

Security is central to every transaction. First Horizon employs multi-layered protections including encryption of data in transit and at rest, multi-factor authentication for transaction initiation and confirmation, device recognition, and behavioral anomaly detection. Every P2P payment is evaluated through fraud detection systems to flag unusual patterns. In addition, customers can enable optional alerts for transfers above a chosen threshold and temporarily disable P2P functionality directly from their account settings.

Privacy practices ensure that personally identifiable information is handled in accordance with applicable regulations and internal policies. Bank-grade controls manage access to payment details, and sensitive account data is never exposed to recipients.

User Experience

The P2P interface is integrated into both mobile and online banking for a consistent experience. A clean transaction flow lets users complete a payment in a few taps: select recipient, enter amount, choose funding source, review fees and estimated delivery, add an optional note, and confirm. Helpful prompts and contextual help explain common questions, such as expected settlement times and how to manage linked recipients.

For users who prefer assisted service, in-branch representatives and customer service teams can set up transfers, walk through dispute procedures, and help interpret transaction histories. Accessibility features are included to support customers with assistive needs.

Fees, Limits, and Timing

Fee structures are transparent and presented before confirmation. Depending on the chosen delivery method, nominal fees may apply for expedited or cross-network transfers, while many internal transfers remain free of charge. Daily and per-transaction limits are published in account disclosures and can vary based on account type, customer profile, and regulatory requirements. Typical timing includes instant delivery for supported networks and 1–3 business days for standard ACH-style settlements.

Business and Personal Use Cases

The P2P service supports diverse real-world scenarios:

• Family transfers: send allowances, reimbursements, or emergency funds quickly and securely.
• Friends and groups: split dinners, rent, or shared expenses and track who has paid.
• Small vendors and contractors: facilitate quick payouts for occasional services without requiring merchant accounts.
• Account consolidation: move funds between personal accounts or across products to manage liquidity and savings goals.
• Care and support: direct transfers to caregivers, household helpers, or community members with a clear audit trail.

Compliance and Consumer Protections

All person-to-person payments operate within regulatory and compliance frameworks designed to protect consumers and maintain systemic integrity. Processes include identity verification for recipients when required, transaction monitoring for suspicious activity, and dispute resolution pathways for unauthorized or erroneous payments. Customers have access to clear instructions on how to report and resolve problems, and protections are applied in accordance with governing law and bank policy.

Getting Started

Existing First Horizon customers can enable P2P payments by enrolling through their online or mobile banking profile. Enrollment includes verifying account ownership, confirming contact information, and consenting to terms of service related to electronic transfers. Once set up, recipients can be added by name and contact information, by account and routing details when necessary, or by using supported identifiers on participating networks.