External Transfers
Located within Digital Banking, External Transfers is an easy and convenient way to transfer smaller amounts between your BankFund accounts and your accounts at other financial institutions in the U.S.
QUICK
With standard delivery, an External Transfer is generally completed in 3 business days. Weekends and federal holidays are not considered business days for the purpose of External Transfers. For your convenience, we also offer next-day delivery for a small fee.
AFFORDABLE
There is no fee to send an External Transfer with standard delivery. Next-day delivery is available
for an additional $3.00 fee. Please refer to the fee
schedule for a complete list of fees related to transfer services.
SPECIAL NOTE There are limits on the amount of money that can be transferred online and these limits can vary. Please consult the Terms of Service when you access External Transfers within Digital Banking.
Options for External Transfers
To keep your funds safe, external transfers must be directed to accounts registered under your name at other U.S. based institutions. If you need to make a transfer to a third party, please use one of the secure options listed below.
|
at Other Institutions |
Third Parties |
|
|---|---|---|
External Transfer |
|
|
Zelle®1 |
|
|
Wires |
|
|
BillPayer2 |
|
|
Frequently Asked Questions
How is an External Transfer processed?
When BankFund transfers or receives money to or from another financial institution, the money transfer is
processed through a secure network called the Automated Clearing House (ACH). Each business day, financial
institutions process transfer requests on the ACH network, which routes the funds to the appropriate receiving
bank. The receiving bank processes the arriving ACH transfer, and then credits the receiving
account.
What if I need to transfer an amount larger than the External Transfers limit?
A wire
transfer will allow you to transfer any dollar amount. Our wire transfer service – eWires – is located within
Digital Banking under the Transfers & Payments tab.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services,
LLC and are used herein under license.
1 To send or receive money with
Zelle®, both parties must have an eligible checking or savings account. You must have a bank
account in the United States to use Zelle®. BankFund members must have a U.S. address and enroll
a valid U.S. mobile number. Transactions between enrolled users typically occur in minutes. Payment requests
to persons not already enrolled with Zelle® must be sent to an email address.
2 Billpayer is available to BankFund members with a U.S. mailing address. If you do not have a U.S. mailing address, please contact the Credit Union for assistance with setting up your Billpayer account.