Common Questions
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- When can I change or delete transfers?
- What changes can I make to transfers from a joint account?
- How are recurring transfers processed?
- What determines the date range for which I can view transfers?
- What happens if I set up a recurring transfer for the last day of the month, but that day is on a weekend or a bank holiday?
- What happens if the transfer date I enter is on a weekend or a bank holiday?
- What information is required to transfer funds?
- When does a transfer execute?
- Why is my transfer disallowed?
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| For general information about creating transfers, see About Transfers. |
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| When can I change or delete transfers? |
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| You cannot change or delete a transfer that has completed or is already in progress. You can change or delete any information for a transfer that has a status of Scheduled or Disallowed. You must be the originator of the transfer to change or delete it. You can change a single transfer to a recurring transfer, but you cannot change a recurring transfer to a single transfer. You can change or delete a transfer before the transfer date as long as the status of the transfer is not In Progress. |
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| What changes can I make to transfers from a joint account? |
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In a joint account, an account holder who enters a transfer can change or delete the transfer while the transfer status is Scheduled or Disallowed, but the other account holder cannot. Both account holders can view the transfer.
For example, you and your spouse Chris have a joint account. You enter a transfer to take place in two weeks. Until the date of the transfer, you can view, change, or delete the transfer. Chris can view or delete the scheduled transfer, but not change it. |
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| How are recurring transfers processed? |
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As soon as you set up a recurring transfer, the first transfer of the series appears on the Transfers page. When the first recurring transfer is made, the next recurring transfer appears on the Transfers page.
The recurring transfer starts on the date you enter in the Transfer Date field and recurs based on the frequency you enter in the Frequency field. For example, you create a recurring transfer of $100 from your checking account to your savings account. You enter a start date of 01/04/2002, which is on a Friday. For each frequency, assuming valid processing days, the transfer would be made as described below, based on the ending criteria for the transfer:
- Every week - Every Friday
- Every two weeks - Every other Friday
- Every month - On the 4th of every month
- Every last processing day of the month - The last processing day of the month
- Every two months - On the 4th of every January, March, May, July, September, and November
- Every three months - On the 4th of every January, April, July, October
- Every six months - On the 4th of every January and July
- Every twelve months - On the 4th of every January
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| What determines the date range for which I can view transfers? |
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| The date range in the View Transfers fields on the Transfers page determines the days for which you can view transfers. The default date range is based on the number of days in the past and the number of days in the future from the current system date that we selected. You can change the dates in the View Transfers fields to the dates for which you want to view transfers. |
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| What happens if I set up a recurring transfer for the last day of the month, but that day is on a weekend or a bank holiday? |
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| If the last day of the month is a non-processing day, such as a weekend day or a bank holiday, we process the transfer on the next closest processing day. A message displays this information when you submit the transfer. |
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| What happens if the transfer date I enter is on a weekend or a bank holiday? |
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| We determine the processing days and times for all transactions. If you enter a transfer on a non-processing day or after the cut-off time for daily processing, we will process your transfer on the next closest processing day. |
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| What information is required to transfer funds? |
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The following conditions and information are required to transfer funds:
- You must be set up at your financial institution to transfer funds.
- You must have at least two different accounts, one account capable of transferring funds and one account capable of receiving funds.
- The transfer amount is required, and the transfer must be in the currency of the from account.
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| When does a transfer execute? |
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| When the transfer date is equal to the current date, the transfer status moves from Scheduled to In Progress. The Bank processes transfers in real-time. Any transfer requests entered and dated for the current day will be processed immediately. Transfer requests that are future-dated will be processed at the beginning of the day on the designated transfer date. If the transfer failed, the system displays a message for the reason for the failure, and you have the opportunity to correct the transfer and try to execute it again. |
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| Why is my transfer disallowed? |
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A disallowed transfer is a transfer that has been rejected, typically for insufficient funds. You can tell when a transfer is disallowed because you see  in the Status field on the Transfers page. Disallowed transfers are not displayed on the Activity page.
For a disallowed transfer, you can choose to delete the transfer or change it and reschedule it.
Note: If you close your account, scheduled transfers can become disallowed transfers if they are processed after your account is closed. |
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