Funds Transfer FAQs

When you initiate a one-time internal transfer, it takes effect immediately, unless the transfer date has been set for a future date. Funds from immediate transfers completed before the daily cut off time of 10 p.m. EST will post to your account and be available as soon as the transfer is complete.

Funds from internal transfers completed after the daily cut off time of 10 p.m. EST may not post and be available until the next business day.

To set up a recurring internal transfer, you will need to select the “make recurring” link next to where you choose your date.

You will be asked to choose a frequency that you would like the transfer to occur based off your first transfer date. Frequency choices are: Weekly, Every Two Weeks, Twice Monthly, Every Four Weeks, Monthly, Every Two Months, Quarterly, Every Six Months and Yearly.

You can also choose to have the transfer recur for an unlimited number of times until you stop it, or you can set a fixed number of times for it to pay before ending.

External transfers to and from your accounts at other financial institutions can be established on the External Accounts screen in the Pay Bills tab. If you have not signed up for Bill Pay, you will be asked to agree to Terms and Conditions, and then you will need to select the blue hyperlink titled “What else can I do?” to access the External Transfers section inside the Pay Bills tab.

• You will need to add you’re an external account before you can make your first external transfer by selecting the “Add an Account” link below the Transfer Money with Other Financial Institutions heading. Adding an account can take up to three to five business days to complete.

• You will need to enter a Nickname for the account as this is how the account will be identified on the dropdown list of accounts to use for transfers.

• You will need to know the routing number of the bank, account number, and account type to establish the external account.

• Once you have established a new external account, two small dollar deposits will be generated to the account for verification purposes. On the same day, a single debit will post to reverse these two deposits.

• You will need to review the account held at the other financial institution to verify the two small deposit amounts.

• Sign into your CentralNET access, go to the Pay Bills tab and then to External Accounts. At the top of the section you will be given the option to verify an external account. This will also tell you when to begin looking for the two deposits in the external account. Enter the two deposit amounts and click on Validate.

• Now that your new external account has been established, you will be able to initiate transfers.

• External transfers can be initiated on a one-time basis or set up on a recurring schedule.

The external transfer cut-off time is 5 p.m. EST each business day.

You will need to select Repeating Transfer, followed by selecting the First Transfer Date.

• Select the desired frequency from the dropdown menu.

• There are three options for Duration: “Until I stop these transfers,” “Until X number of transfers are sent” or “Until but not after a specified date.”

• You may also choose the option to receive an email notification when your transfer is pending, when the transfer is withdrawn or before sending the last transfer.

One-time and recurring external transfers will be processed through the Automated Clearing House (ACH) system and may take up to three (3) business days to complete. Funds may not be available for use in the account specified for deposit until the third business day after the external transfer date.