I to I Transfers
Institution to Institution Transfers
I-to-I transfers is a service where our members can now sign in through our Online Banking and perform transfers to and from another institution. So if you have an account at another financial institution, you can sign in and transfer money to that account from the account at FFCU, or you can transfer from your account at the other financial institution to your account here, all through our Online Banking! The greatest part is there is no fee!
There is a setup process that must be followed to verify we have the correct information. The setup process may take up to 3 days. Below are the steps to setup the other financial institution’s information.
STEP 1 • External Transfer Setup
Once you are logged into your FFCU Online Banking click on the “Transfers & Payments” tab and then “External Transfers”. Click on “add new payee” and enter the other financial institution’s information then click link account. The next box you will review the information you previously entered to confirm its correct and then select continue.
Within 48 hours we will make 2 small deposits into the other financial institutions account (Both deposits will be under $1.00) that you will need to obtain in the exact order and amount of deposits.
*These deposits will expire and disappear from the other institutions account so please monitor the account during these 48 hours after set up
After you have obtained both deposits in the other institutions account you will log in to FFCU, navigate back to “Transfers & Payments” then “External Transfers”, click on “Confirm” and enter the amounts in the 2 boxes provided and click confirm button. That’s it! Your added account will now listed in “Transfers & Payments” as “An External Account” to transfer to/from.
* If the confirmation amounts are entered incorrectly 3 times the account will lock and you will be required to restart the process so make sure you have both amounts before confirming as FFCU cannot unlock
* External transfer limit of $2000.00 per day and $5000.00 per month. These limits are put in place to help limit fraud and to protect both the Credit Union as well as Our Members.
* External Transfers are not immediate and do take 2-3 days to process between the 2 financial institutions