Other financial institutions may refer to this type of service as FI-to-FI Transfer, Interbank Transfers (IBT) or B2B Transfers (B2B). USSFCU’s branded version of the service is Bank to Bank Transfers found in CU AnyHour+ online banking under a tab of the same name.
Bank to Bank Transfers is available to any member, in good standing, who uses CU AnyHour+ online. This service allows you to transfer funds between your linked personal deposit accounts at United States Senate Federal Credit Union (USSFCU) and certain deposit accounts at other financial institutions. An inbound transfer moves funds into an account at USSFCU. An outbound transfer moves funds from an account at USSFCU to an account outside of USSFCU.
Funds requested to be transferred will be debited/credited to your USSFCU account the business day following the day you initiate the transfer, provided you have met the USSFCU cutoff time for submitting Bank to Bank Transfers. In the case of a future dated or recurring transfer, these time limits will be the business day following the scheduled date of the transfer. The cutoff time for initiating transfers is 8:00 PM ET. Funds requested to be transferred will be debited/credited to the non-USSFCU account according to the receiving Financial Institution’s availability and transaction processing schedule.
Request for immediate transfers of funds cannot be cancelled. Future dated and recurring transfers can be canceled by 8:00 PM ET the day prior to the scheduled transfer date. If the transfer status is In Process, Pending, or Processed, you cannot cancel the transfer.
There is currently a fee for the Service that will be assessed each time you make a funds transfer. The fee will be posted as part of the withdrawal (like an ATM fee). Fees are subject to change. Please refer to our fee schedule for details.
Transfers are subject to the following limits unless otherwise agreed upon by you and USSFCU:
- Five inbound transfers per day not to exceed a total of $5,000
- Five outbound transfers per day not to exceed a total of $5,000
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 with no more than three transfers by check, draft, or ACH or similar order to third parties. If you exceed the transfer limitations set forth in any statement period, your account will be subject to closure by USSFCU and may be subject to an excessive usage fee based on our current fee schedule for every outgoing transfer above the stated limit.
The above limits apply to the total of all Bank to Bank transfers of a specific type for all accounts enrolled in the Service. We may change your dollar limits and transfer limits at any time.
In order to use the external account for Bank to Bank Transfers, the account must be verified. United States Senate Federal Credit Union (USSFCU) will verify that you are authorized on the external account through an auto verification process. Your external account will be credited with a random amount within one to two business days. Once you see the credit on your external account, log back into CU AnyHour+, go to Enrolled Accounts and key in the amount of the credit without decimal points or dollar signs. For example, if 21 cents credits your external account, you will enter 21 in the Verification Amount field. You will have 10 calendar days to complete this process.
For questions, or if you need assistance with the enrollment process, please contact a Member Service Officer at 202.224-2967, 800.374-2758 outside DC metro area, or email us at firstname.lastname@example.org. You may also send us a secure message by clicking on the Message Center link at the top of the CU AnyHour+ online banking homepage.
Bank to Bank Transfers 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 Online and Mobile Banking (starting Fall 2012)
For more information check the FAQs, How To and Demo video.