What is a bank-to-bank transfer?
What accounts are eligible for bank-to-bank transfers?
How do I request the ability to perform bank-to-bank transfers within Online Banking?
Once I am approved for bank-to-bank transfers, what is my next step?
I’m enrolled! What kinds of transfers can I schedule?
Is there a fee for a bank-to-bank transfer?
How long will it take for inbound transfers to post to my Bank Independent account?
Are there limits to how much money I can transfer, and how often I can transfer funds?
Can I make a bank-to-bank transfer from Bank Independent Mobile Banking?
What is a bank-to-bank transfer?This option within Bank Independent Online Banking allows you to electronically transfer funds to and from your Bank Independent personal checking and savings accounts and those you hold at other financial institutions.
What accounts are eligible for bank-to-bank transfers?Personal checking and savings accounts are eligible for transfers to and from your Bank Independent accounts.
How do I request the ability to perform bank-to-bank transfers within Online Banking?If you have been an Online Banking customer for thirty days and your accounts are in good standing, the "Bank-to-Bank Transfer" option will be enabled for you within your Online Banking account.
Once I am approved for bank-to-bank transfers, what is my next step? After logging in to Bank Independent Online Banking, click on the Online Banking tab. You will now see a "Bank-to-Bank Transfer" option in your menu bar. Select "Bank-to-Bank Transfer" and complete the following steps:
I’m enrolled! What kinds of transfers can I schedule?You can schedule a one-time transfer, or schedule recurring transfers to occur at weekly, biweekly, semi-monthly or monthly intervals.
Is there a fee for a bank-to-bank transfer?There is no fee for transferring funds INTO your Bank Independent account. However, there will be a fee of $1.00 per transfer to transfer funds FROM your Bank Independent account to your account at another financial institution. This fee will be posted to the Bank Independent account from which you are transferring funds.
How long will it take for inbound transfers to post to my Bank Independent account?A consumer Online Banking Bank-to-Bank Transfer of $100 or more from another financial institution into a Bank Independent account will be available two days after the transfer request. Inbound transfers of less than $100 submitted prior to 3:00 pm will be available immediately, while transfers of less than $100 submitted after 3:00 pm will be available on the next business day.
Are there limits to how much money I can transfer, and how often I can transfer funds?Yes. You are allowed three inbound transfers per day not to exceed a total of $1000 and three outbound transfers per day not to exceed a total of $1000. 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 calendar month, your account will be subject to closure or change by Bank Independent and may be subject to an excessive usage fee based on our current fee schedule for every outgoing transfer above the stated limit.
Can I make a bank-to-bank transfer from Bank Independent Mobile Banking?Yes. Once your external account has been verified from within Online Banking, it will be added within Mobile Banking to the list of your accounts. You can initiate a transfer from or to this account just as you would initiate a transfer among your Bank Independent internal accounts. However, only one-time transfers are available within Mobile Banking. Recurring transfers must be scheduled through Online Banking.