FAQs - Bank to Bank Transfers

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What does Bank To Bank Transfers service allow me to do?

Bank to Bank Transfers allows you to move money between your USSFCU accounts and those you own at other financial institutions, including banks, credit unions, investment companies, or any financial service provider that accepts ACH. The new service gives you:

  • A convenient and seamless approach to transfer your money
  • The ability to set up recurring transfers for extra peace of mind
  • A single point of access for all your online banking needs
  • More banking freedom! No phone calls, no lines, no waiting, no mail
  • Easy access through Personal Online and (starting August 2012) Mobile Banking
Are there dollar limits?

Yes. Transfers are subject to the following limits:   

  1. Five inbound transfers per day not to exceed a total of $5,000
  2. Five outbound transfers per day not to exceed a total of $5,000
Who can use USSFCU Bank to Bank transfer service?
. Any member of USSFCU, in good standing, who uses CU AnyHour+ online banking.

How do I get setup to begin using the service?

The Credit Union provides all online banking users in good standing access to the Bank to Bank transfer service through CU AnyHour+.  If a member wishes to uses the service they must complete the enrollment process for the other account within CU AnyHour+. A menu option appears for Bank to Bank Transfers in CU AnyHour+. The member keys in the routing and account number for external account(s), which starts the verification process. They must meet certain qualifications to continue. A separate fee for use of Bank to Bank Transfer applies. Please see our fee schedule for details.

Will I receive any notifications regarding my Bank to Bank transfers?

You can setup a transaction alert in CU AnyHour+ that would trigger when an amount posts to a specific account.

Are there fees associated with using the Bank to Bank transfer service for Online Banking customers?

There are no fees to have the service activated. There are, however, per transaction fees assessed once you actually transfer funds. The fee will be posted as part of the deposit or withdrawal (like an ATM fee). Please see our fee schedule for additional details. 

Can you schedule recurring transfers?

Yes – You can schedule a transfer to occur one time, weekly, biweekly, semi-monthly or monthly.  Please note: Per government regulation transfers from a Savings or Money Market account to another account or third party by preauthorized, automatic, or telephone transfer – including online banking transfers - are limited to six per month. If you exceed the transfer limitations set forth in any statement period, your account will be subject to closure or change by US Senate FCU and may be subject to an excessive usage fee based on our current fee schedule for every outgoing transfer above the stated limit.

What account types are eligible?
Personal Checking and Savings are eligible to make transfers from and to your USSFCU accounts.

Can I do transfers from my mobile phone?

Yes. You will be able to use Bank to Bank Transfers from your mobile device (starting August 2012), once you have gone through the account verification process through CU AnyHour+ Online Banking.

What are the daily limits?

You are allowed 5 inbound transfers per day not to exceed a total of $5,000 and five outbound transfers per day not to exceed a total of $5,000.

How long does it take to process my transfers?

These are the cut-off times and fund availability for funds transfers:

 

Cut-off time

Funds availability

Monday — Friday

Transfer before 8pm
Transfer after 8pm

Following working day
Second working day

Saturday, Sunday & Federal Territory Public Holidays

(not applicable)

Next working day

Can I transfer funds to any type of account in other banks?

You can do transfers to your own Savings and Checking accounts at USSFCU and other financial institutions.

Can I use Bank to Bank transfer to pay for my credit card and loans?

Paying a loan or credit card would involve a two part process. Since transfers can only occur between checking and savings accounts at USSFCU or other financial institutions you would need to first transfer funds into a checking account, then process your payment.

Can I use the Bank to Bank transfer service 24 hours a day?

USSFCU CU AnyHour+ is available 7 days a week, 24 hours a day with infrequent down times associated with maintenance. These times are announced in advance on our public Web site www.ussfcu.org.
What are my other alternatives if I have more than $5,000 to transfer?
If you want to transfer more than this, you will have to do another transaction the next day or make other arrangements.
Can I increase the limit per transaction?
No, you may not increase your limit per transaction.

Do I need to pay the service fee each time I make a funds transfer?

Yes. You will be assessed the Bank to Bank Transfers service fee each time you make a funds transfer. The fee will be posted as part of the deposit or withdrawal (like an ATM fee).

Is the Bank to Bank transfer service safe and secure?

Bank to Bank is provided as an additional service through CU AnyHour+. All the security features associated with online banking apply to Bank to Bank. Additionally, the account verification process provides the member with the security that the accounts are responding as they should.
Is there a daily cutoff time for sending transfers?
Yes. Cut-off time is 8:00pm ET.

Can I make a transfer immediately (after enrollment)?

Before you may schedule your first transfer, the Bank to Bank Transfers system will send a small deposit on your behalf to the receiving bank account which you must verify before regular transfers can be initiated. To verify the amount, log into your external account, note the trial transfer amount, then log into CU AnyHour+ and enter the amount in the Enrolled Accounts tab within Bank to Bank transfers (ex. 21 cents shown as 0.21). Once you have done so, the account will display a “Verified” status and you may then schedule transfers.

How long do I have to verify my account?

You have ten days after you first enroll your external account to look for the test deposit and enter it into the system to confirm the enrollment. If you are unable to verify within ten days, simply re-enroll your account to restart the process.

How soon after my transfer is initiated will funds post to my account?

If the transfer request is completed before 8 p.m. Eastern Time on a business day, the funds should post the next business day. For transfers created after 8 p.m., look for the funds to arrive in two business days.

May I schedule transfers to happen automatically or future date a transfer?

You may schedule recurring transfers or single transfers with a future date. These transfers will count toward your daily limits on the day the transfer is scheduled to occur. If you schedule a future outgoing transfer and available funds on that date are less than the transfer amount requested, the transfer will be rejected and you will need to resubmit it for that occurrence.

NOTE: If you schedule an incoming transfer for which the amount exceeds the available balance in the external account, that financial institution may charge you fees related to insufficient funds.

Can I transfer money between business accounts with USSFCU Bank to Bank transfer service?

The Bank to Bank transfer service is designed to be used with personal accounts. You may NOT use this service to transfer funds between Organizational/Business, Trust or other Non-Personal accounts, or to send money outside of the United States.  International accounts and organizations can not be used with this service.

 

 
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