About Transfers
|
| A
transfer
is a movement of money from one of your bank accounts to another. You can also add an account owned by another person as a deposit only account. This allows you to easily make transfers to this account. |
| You can make transfers between the following accounts: |
- Accounts for which you are an account holder. These are your own accounts or a joint account.
- Deposit-only accounts owned by another person. You can only transfer money to these accounts. You cannot view balances, view transaction detail, transfer money from or pay bills from a deposit only account.
|
| Accounts must be set up to be able to transfer money, receive transferred money, or both. If you cannot use the account you want for the transfer, call Customer Service. |
| A transfer can be a single one-time transfer, a future transfer, or a recurring transfer. When you make a transfer, your financial institution moves the amount of the transfer from one account to another. |
| It is important to note that when you enter a transfer, you are entering a transfer instruction, and it remains an instruction until the transfer is executed, or moves to a status of In Progress. |
 |
| |
| How Transfers Are Displayed |
After you submit a transfer, it is displayed in different places. This is an example of the processing steps that could take place:
|
- You enter a new transfer with a transfer date of the current day or later. The transfer is displayed on the Transfers page with a status of Scheduled. Current day transfers will be sent for processing the same day.
- On the transfer date, the transfer is processed. The transfer is displayed on the Transfers page with a status of In Progress.
- When the transfer is processed, the amount of the transfer is deducted from your account. The transaction is displayed with a Complete status on the Transfers page and appear as a transaction item on the Activity page.
|
|
|
|