A Look at Citi Obopay Mobile P2P Fees
Earlier today, Citi and Obopay announced a new mobile person-to-person mobile payments pilot. According to the fee schedule announced for the pilot, sending money has a transaction fee (paid by the sender) of $0.25 for amounts up to $50 and 1.5% of the amount for transactions above $50. So, for example, on a $500 transaction, the sender's fee would be $7.50. Note that Citi and Obopay are waiving all send money fees through the end of October.
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