National Pay Back a Friend Day!! Do it!!!!

National Pay Back a Friend Day 2018 – October 17

After conducting an in-depth study on how money affects relationships, Bank of America designated October 17 as National Pay Back a Friend Day. This study, which is called the “Friends Again Report,” found that 53% of its participants have ended a friendship after they loaned a friend money and were never paid back. As a way to combat this issue, National Pay Back a Friend Day was created. So on October 17, put away the bad feelings, pull up your mobile payment apps, and start paying your (ex) friends back.

National Pay Back a Friend Day – History

2017

Another payment app popped up

Zelle, a payment app owned by many of the big banks (Bank of America, Wells Fargo, and Chase to name a few), launched a person-to-person payment system.

2012

PayPal came out on top

Braintree acquired Venmo for $26.2 million. (PayPal later bought Braintree for $800 million.)

1998

The trailblazer for online payments launched.

Did you know PayPal started under the name Confinity?

How to Observe National Pay Back a Friend Day

1. Pay back a friend (duh)
Obviously, the best way to celebrate National Pay Back a Friend Day is to pay back a friend. And thanks to all the apps out there these days, finding someone is easy — and so is paying them back.

2. If you can’t pay them back (yet), find other ways
Offer them free babysitting. Or dog sitting. Or whatever. Just be sure to acknowledge that they loaned you money — and thank them for helping you out.

3. Organize your finances
Use National Pay Back a Friend Day as an opportunity to figure out other debts you may have (credit card, money you may owe to family members, student loans, etc.) and make a proactive plan to get caught up.