Scheduled Transfers
Please review these frequently asked questions regarding our new online banking feature.
What is a Scheduled Transfer?
What are the different types of Scheduled Transfers?
How do I create a Scheduled Transfer?
How do I view pending Scheduled Transfers?
How do I edit a Scheduled Transfer?
How do I delete an Scheduled Transfer?
What if there are insufficient funds? Are there any fees?
Why can’t I edit certain pending transfers?
Why can’t I schedule a Scheduled Transfers for today?
How does this compare to recurring Bill Pay transactions?
What is the limit on the number of occurrences that can be set?
When do the withdrawals and deposits of a scheduled transfer occur?
Are there any restrictions on which accounts I can schedule transfers to?
Do scheduled transfers from my savings count toward the six allowed transactions per month?
What happens on months with less than 31 days?
Who do I contact with questions?
What is a Scheduled Transfer?
A scheduled transfer is much like an immediate online transfer with a few, convenient exceptions. With a scheduled transfer you can set up regularly occurring transfers or schedule one for a future date. .
What are the different types of Scheduled Transfers?
o Weekly,
o Biweekly (every other week),
o Monthly,
o Semimonthly (twice monthly; every 15 days starting with the first transfer date),
o Quarterly,
o Semiannually (twice yearly),
o Annually,
o One time.
How do I create a Scheduled Transfer?
There are two ways to create a scheduled transfer:
1. Click transfer funds on the left menu. Now choose your transfer option, including immediate or one of several scheduled transfer frequencies (see scheduled transfer types above).
2. Click view/edit on the left menu. Here you will see pending transfers. Start a new transfer with the create scheduled transfers button at the bottom of the page.
How do I view pending Scheduled Transfers?
To view all pending scheduled transfers click the view/edit option under the transfers left navigation link. Your pending transfers will appear grouped using the from field.
How do I edit a Scheduled Transfer?
You can edit a scheduled transfer from the scheduled transfers page.
1. Click the transfer funds link on the left.
2. Select view/edit.
3. From the scheduled transfers page, click on the ID number of any transfer. You will be taken to the edit screen. All of the information for that transfer should be pre-filled. Simply edit the provided information and click submit to update the transfer. Please note: You cannot edit the from account or the frequency. Delete the transfer completely and create a new transfer if that field must be edited.
How do I delete an Scheduled Transfer?
You can delete a scheduled transfer from the scheduled transfers page.
1. Click the transfers link in the left navigation.
2. Click view/edit.
3. Now, click on the ID number of a transfer. You will be taken to the edit screen. The delete button is located at the bottom of the page.
What if there are insufficient funds? Are there any fees?
There are no fees charged for unsuccessful transfers. However, insufficient funds can cause a missed payment. If there are insufficient funds to cover a transfer, the transfer will try again the next business day for up to thirty (30) days. If a transfer cannot be made, it will reset to the next transfer date. The exception is the one time scheduled transfer. In the event there are insufficient funds, this transfer will retry up to four (4) days, at which time the transfer will be canceled.
Why can’t I edit certain pending transfers?
You can only edit/delete transfers that have been setup online. For automatic loan payments or transfers from/to other financial institutions, please call 800.637.0852 or stop by any branch.
Why can’t I schedule a Scheduled Transfers for today?
To complete a transfer for today, please schedule an immediate transfer.
How does this compare to recurring Bill Pay transactions?
When Bill Pay payments are sent from one First Tech account to another, they are processed by our service provider and then sent back to our system. This takes three (3) to eight (8) business days. In sharp contrast, scheduled transactions are processed at the credit union and can be withdrawn immediately if necessary.
What is the limit on the number of occurrences that can be set?
The number of occurrences must be great than one (1) otherwise there is no limit to the number of transfers. By selecting the no end date option, you can schedule indefinite transfers.
When do the withdrawals and deposits of a scheduled transfer occur?
Withdrawals and deposits occur every business evening. If a scheduled transfer falls on a non-business day it will process on the following business day. If, at the time of processing it is determined that there are insufficient funds to complete the transfer, an attempt will be made to withdraw again on the next business day for up to thirty (30) days. If a transfer cannot be completed after thirty attempts it will be reset to the next transfer date. The exception to this are the one-time transfers which will attempt to transfer for up to four (4) days.
Are there any restrictions on which accounts I can schedule transfers to?
Some restrictions do apply. Only accounts available for transfer will appear in your account drop down list. For automatic transfers and other types of accounts (home loans, credit cards, etc.) please call 800.637.0852 or stop by any branch. You can always make immediate transfers to your home loans and credit card accounts.
Do scheduled transfers from my savings count toward the six allowed transactions per month?
No, scheduled transfers do not currently count toward the six allowed transactions per month.
What happens on months with less than 31 days?
Transfers scheduled for a date that does not occur in that particular month will process on the next available business day. For example: If a Monthly transfer is scheduled for the 31st of every month, the transfer will occur on the next available business day during months that do not have 31 days.
Who do I contact with questions?
For questions regarding scheduled transfers, call 800.637.0852, stop by any branch or contact us securely from within Online Banking.
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