Now that you've learned to set up your online account, let's look at transferring money within online banking.
With this short tutorial, you'll learn how to transfer money between your accounts, transfer from an outside account, or even set up a recurring payment.
Move money between your accounts
When you click on "Transfers & Payments," you'll see three columns that make up the easy-to-use interface. Click on the account you want to take money from on the left. Then select the account you want to send money to in the middle column.
Once you have made your account selections, more options will appear in the third column. By default your payment will send immediately, but you can also choose "scheduled transfer" to send at a later date.
Creating a repeating transfer
The third option for scheduling is to create a repeating transfer. This makes it easy for you to automate money transfers. For example, you can transfer money from checking to savings each payday to effortlessly grow your rainy day fund.
When you select "Repeating Transfer," you get a pop-up with options. Start by choosing your start date. Under "Repeat" you can choose to automate your payments daily, weekly, monthly, or yearly. You control what day of the week money is deducted. This makes it easy for you to sync payments to fit your payday and other financial schedules.
Finally, use "Ending Options" if you want to end on a specific date or after a certain number of transfers.
Transferring to other accounts
The last way to use the transfer feature is to share money with other accounts. This allows you to transfer money to another Member's account or to an account at another financial institution.
To transfer money to another Member's account, select "Another Member." Type in the Member's account number, as well as their last name. If you know the share or loan ID, you may also type that in. Otherwise the money will automatically be deposited into their checking account. You may select to send the transfer immediately, schedule the payment, or make it a repeating transfer.
To make an external transfer, select "An External Account." Enter the name of the primary account owner, the name of the bank, the routing and account numbers, as well as of the account type. Finalize the transfer by choosing your desired options from the third column, just as we did with the other examples.
You should now be able to share money between your accounts, schedule recurring payments, and even move money to other accounts. Our online banking tools make it easier than ever to take care of all your banking needs without stepping foot in a physical branch!
Enter your email below to see our next post, where we learn about Bill Pay.