Account-To-Account Transfers (A2A)
Our members can now transfer funds to and from other U.S. financial institutions through our Online Banking service. Just log in to your Online Banking account, click on the Accounts tab, then select Account To Account Transfer from the drop-down menu. There is a $3 fee to send money to another financial institution. There is no fee for incoming transfers. Transfer funds must be generated FROM a checking account and can be applied TO a savings or checking account. You can only set up transfers to/from accounts where you have the authority to transfer funds. Reminder: Funds can be transferred from a savings or an eligible loan to a checking account before sending a transfer.
To use this feature, you need to first setup an account. We need to know some information about the account at the other financial institution before we are able to use that account. During the account setup process, we verify you have authority to access the other account for your security protection. Just complete these three simple steps:
1) Set up an account within Online Banking for your account at another financial institution.
You can do this by pressing the Setup New Account button.
The next screen displays information necessary to transfer funds with the other financial institution:
- Account From - Account that you want money taken from.
- Account To - Account that you want money sent to.
- Amount - The amount of the transfer (subject to daily and 30-day monthly limits)
- Transfer Start Date - When do you want this transfer to be sent (not applied).
- Email Address - Email address you would like to be notified at when the transfer is sent.
- Memo - Optional memo line that will appear on the transaction line (this information may or may not appear as some financial institutions do not include this information when applying ACH transactions).
- The Routing & Transfer number of the other financial institution
- Your account number at the other financial institution
- Account Owner Name (you can transfer to other people's accounts, such as your child, parents, etc. as long as you are an authorized user, or your own account)
- Account Nickname (optional)
After completing this information, click the NEXT button to verify the account setup. Double-check the information to make sure the institution name and address are correct. You may also specify an email address if you wish to be notified when you can proceed to the verification step.
2) Once the account is created, the status will be "Pending." The system will automatically deposit and withdraw a random amount of money into your account at the other financial institution during the next nightly process. The deposit and withdrawal only occur on business days, so you will need to check the transaction history at your other financial institution on the following business day to note how much was deposited and how much was withdrawn from your account.
3) The next step is to log back into Online Banking to complete the account verification process. In the account list, you need to click on the "Verify" link for the account you setup. The next window will allow you to enter the amount that was deposited and withdrawn from your account at the other financial institution. Enter in the deposit, withdrawal and press the Verify Account button.
After you complete this step, the account status will change to "Verified" and the account may now be used to create transfers. You may setup as many accounts as you have at other financial institutions.
Other Financial Institution Account List
This section displays a list of external accounts that are in the process of being set up (Status of Verify) or have been setup (Status of Verified). This section also allows you to setup accounts by clicking on the Setup New Account button.
The account Status values are:
- Pending - The verification process is not complete.
- Verified - The account is approved for use.
- Suspend - The account has been suspended and may not be used.
Account To Account Transfer Limit
This section displays the Daily and Rolling 30-day limits as well as your current balance that is applicable towards those limits. These limits are:
- $7,500 maximum per 30-day period
- $3,500 maximum per day
Pending Account to Account Transfer
This section displays any pending account to account transfers. Any transactions in this section have not been processed. You may edit the transfer by clicking the "Edit" link or delete the transfer by clicking on the "Delete" link.
Setup New Transfer Button
The Setup New Transfer button takes you to the New Transfer workflow. This workflow allows you to set up new transfers between pre-setup external accounts and internal accounts.
- You may select external accounts that have a verified status for the Account From or the Account To.
- The Transfer Date is the date the funds will be available. The date must either be tomorrow or a date later than tomorrow. Any date that falls on a weekend or holiday is processed on the next banking day.
- If you would like an email reminder when the transfer is sent, click Yes and verify your email address.
- You may add a memo for this transaction if you wish. The memo is not guaranteed as some financial institutions do not process the memo.
- Click Add Transfer to proceed to the confirmation screen.
- After you click the Add Transfer button on the confirmation screen, the External Transfer Setup Result will appear.
Transfer History Button
The Transfer History Button takes you to the Account to Account History page. This page allows you to view past transfers that have been processed.
- You may change the date range by clicking either the Starting Date or the Ending Date and clicking on a day in the calendar.
- Click the Submit button to show the history.