If your external transfer is $2,500 or more the system will prompt you to approve the external transfer in “Review Online Activity” using a Secure Access Code (SAC). Once you have successfully approved the transaction and submitted the SAC in “Review Online Activity” the status of the transaction will change from “Drafted” to “Authorized”. Until this occurs, your transaction is not complete. Below are screenshots in step by step instructions that will walk you through the process.
With the new Online Banking system all recurring external transfers will post 1 to 2 business days after the external transfer is scheduled.
Please follow the instructions below to cancel and create a new recurring external transfer:
- Login to Online Banking,
- Click Tools & Requests>Review Online Activity,
- Click the top middle black button labeled “Recurring Transfers,” and;
- Click cancel series
Once you confirm the series is cancelled, you will need to create a new recurring external transfer series:
- Click Payments & Transfers > Transfer Funds
- Follow the prompts to make it a recurring transfer
Remember it will take 1 to 2 business days to post to your account.
· If you have an external recurring transfers that needs to be every 15th of the month, your recurring external transfer should be scheduled at least by 11th (to ensure non-business days and two processing days).
If you had set up External Transfer accounts in the old Online Banking system, they are available. Your available External Transfer accounts are now listed under Payments & Transfers >Transfer Funds. You can select them by clicking on the “To” or “From” box and pick the appropriate account from the drop down box.
Yes, if you set them up in the old system. You can review your recurring external transfers under Tools & Requests> My Online Activity. Then click on the Recurring Transactions tab in the top middle of the screen.
It’s easy. Log in to Online Banking then go to Under Payments & Transfers >Add External Account. Then follow the prompts.
When adding an account you own at another financial institution, it must be verified. To do that, two to three small deposits will be made into the account. Once deposited, you will need to confirm the deposit details. To verify your trial deposits, follow these steps:
STEP 1: Receive Trial Deposits
Within three business days, we will make two small deposits into your source account.
STEP 2: Check Deposit Amounts
Log into your source account to review the deposit amounts made. Deposits should appear as TRANSFER and/or ACCTVRFY. Write down the amounts for reference.
STEP 3: Confirm Deposit Amounts
Log onto Stanford FCU Online Banking, go to Payments & Transfers and select Verify External Account. Select the source account and enter the deposit amounts. If the amounts entered by you match the amounts of the deposits we made, the account will be enabled immediately for External Transfers.
You can add as many as you need. Please note, you will be required to go through an authentication process for each of those accounts that you own.
Which accounts are eligible to send and receive External Transfers?
Your Stanford FCU checking, savings, and money market accounts are already eligible.
Most external checking, savings, and money market accounts are eligible, along with some brokerage accounts at select institutions.
The following external accounts are not eligible for the Stanford FCU External Transfer service:
- Individual Retirement Accounts (IRAs)
- Custodial and/or Trust Accounts
- Certificate of Deposits (CDs) or other time-based accounts
- Loan Accounts (including credit card and equity accounts)
Other restrictions may apply; contact your financial institution with questions.
Stanford FCU processes Electronic Transfer Funds via the Automated Clearing House (ACH) secure network. This is the same network used by the Federal Reserve to clear checks between financial institutions.
Stanford FCU submits a request to the ACH network to transfer funds between the accounts you’ve specified. ACH then uses its secure channels to complete the transaction. This procedure is similar to the process an employer uses for direct payroll deposits.
Recurring transfers are viewable under Tools & Requests >Review Online Activity > Recurring Transactions.
Recurring transfers will process 5:00 pm PST.
Under Payments & Transfers >Transfer Funds. For a recurring transfer check the box “Make this a recurring transaction”. To make a future dated transfer select the date from the calendar.
Yes. External Transfers may be scheduled up to 365 days in advance from the date the transfer is to be made (called a “Single External Transfer”). Recurring External Transfers may also be scheduled for regular intervals (e.g., monthly) for the same amount between the same two accounts (called a “Recurring External Transfer”). You can schedule recurring External Transfers to be made on the 1st of the month, Last day of the month, 1st & 15th of the month, 15th & last day of the month, Weekly, Every other week, Monthly, Quarterly, Semi-annually, and Yearly.
No. There is no fee to use this service.
You can review your history through the My Online Activity page under Tools & Requests >Review Online Activity. It provides an up-to-date report on your External Transfer requests over the past 180 days. Each transfer request is displayed along with the date and status of the transfer. You should also be able to confirm the completion of the transfer by viewing your account activity with your financial institution after scheduled completion of your request.
Please contact Member Service if you would like to disable this feature 888.723.7328.
Provided you’ve made your transfer request before the daily cut-off time of 1PM Pacific Time, your request is processed electronically one to two business days following the date of your request.
If you initiate an External Transfer after the daily cutoff time, the transfer will be debited from the source account on the second business day following the request date. Please note that all External Transfers requested during the weekend, up until the Sunday cutoff time, will be debited from the source account on Monday.
Scheduled and Recurring Transfers are processed on their send date.
Depending upon the financial institution, it may take an additional business day for the transfer to be reflected in the account balance of the destination account.