PayPal for Cell Phones. Send money via text message.

This is COOL. I just signed up for obopay.com a new service from Citibank that allows you to TEXT someone money from your account. It only costs $0.10 to send money, nothing to receive.

You get $10 completely free just for signing up.

If you use PayPal, this is the same exact thing, but for your cell phone. You can pay people or receive money safely instantly when you're no by the computer.

For example, if you are at lunch you can split the bill and then text someone the money and they will receive it. If they don't have an account, it's the same thing wtih PayPal, they just pick it up when they get back to their computer and they can push the money to their checking account free. (Unlike PayPal where you can be charged money to receive it, so sending someone cash via PayPal is not exactly the most welcome transaction -- they loose money when you owe them and send it to them). With Obopay, it's fee free on their side and only $0.10 for you to send.

No brainer - sign-up and try it. You'll get $10 instantly to try it out.