External Transfers

External Transfers

External Transfers

This feature allows you to transfer money from your Frontwave account(s) to a checking or savings account at another financial institution and vice versa. It’s a quick way to move money from the comfort of your couch. Keep in mind, you must be a signer on any external account you want to transfer to. If you’re manually adding an account, you will need access to the account so you can verify the initial confirmation transfers.

How to Add an External Transfer Account

Before you can start making external transfers, you have to add the external account(s) to your Online Banking profile.

  1. Login to your Online Banking profile, click on “Transfer & Bill Pay” and then “Transfers.”
  2. Once on the “Transfers” page, click on the “More Actions” tab at the top.
  3. Under the “More Actions” tab, click on “Add Account.” 
  4. A new screen will pop up with our “ACH Transfer Policy.” Read it, click the box next to “I Agree” and then click “Continue” to accept the policy.
  5. Next, choose whether to “Add an account instantly” (using online banking credentials) or “Add an account manually” (using trial deposits).
  1. If you choose to add an account instantly, select your financial institution from the list or use the search bar to find it. Once your institution is located, enter your online banking login credentials for that institution. If everything is correct, you will see the account(s) that you are able to add. Simply pick the account(s) and click submit. That’s it. You should now see your external account(s) as an option to transfer to and from. If you choose to add an account manually, proceed to step 7.
  2. If you choose to add an account manually, you’ll be prompted to enter the account details for the external account you want to make a transfer to. Select the “Account Type” from the drop-down list and enter the routing number. Enter the account number twice for confirmation, then give the account an easy-to-remember “Nickname,” such as “Home Town Bank Checking.” When finished, click “Save.”
  3. Next, you’ll be asked to verify your identity. You can choose “Text” to receive a text message to the mobile number we have on file, “Email” to receive an email to the address we have on file, or a “Call” to receive a phone call to the number we have on file.
  4. After verifying your identity, you’ll get a message stating that to verify your external accounts, two (2) confirmation deposits will be made to it within 2-3 days. These deposits will be for just a few cents each. Once they’ve been made, you’ll receive an email to finish the process — see step 10.
  5. Once you receive the above email, check your external account and write down the dates and amounts of the confirmation deposits that were made to it. Then login to your Frontwave Online Banking profile. On your dashboard, you’ll see a notice that reads “You have 1 pending external account.” Click on the “Confirm” button next to this notice.
  6. This will take you to the Accounts page. Scroll down until you see your external account listed under “ACH Accounts,” then click the “Confirm” button again.
  7. On the “Confirm Trial Deposits” page, enter the 2 confirmation deposits that were made to your external account in the order in which they were made. Enter the First Deposit (earliest date), then the Second Deposit (latest date), and then hit “Confirm.”
  8. If you enter the amounts correctly, you’ll be returned to the “Accounts” page where you’ll see your external account is “Open.” This means you’re ready to start making transfers!

If you enter the amounts incorrectly, you’ll be asked to try again. Double check the transactions on your external account records and reenter them. Be forewarned: you only get 3 tries before your external account will be suspended. If the account is suspended, click on the trash can icon to delete the suspended account and go back to step 1 to repeat the process of adding your external account.

Step 9
Step 10

How to Send an External Transfer  

Once your external account has been verified, follow steps below to send money between your Frontwave account(s) and your external account.

If you want to make a transfer, schedule a transfer for a later date, setup up recurring transfers and/or include a memo with your transfer:

  1.  Login to your Online Banking profile, click on “Transfer & Bill Pay” and then “Transfers.”
  2. Select the “Make a Transfer” tab.
  3. Select the account you want to transfer money out of from the “From Account” drop-down list.
  4. Select the account you want to transfer money into from the “To Account” drop-down list.
  5. Enter the “Amount” of your payment, select the “Date” you want the payment to be made, and select the “Frequency” of payment (this is where you can set up recurring payments).
  6. If you need to include a memo with your transfer, click on “Add Memo” and type your note.
  7. Review the details of your transfer. If everything is correct, click “Confirm.” If any changes are needed, click “Cancel” and make your edits.

Frequently Asked Questions

No. It is against the External Transfer User Agreement to transfer or attempt to transfer funds to an account that you are not a legal signer on.
An External Account is an account that is housed in a different financial institution other than Frontwave Credit Union. External Transfers are transfers between other financial institutions and Frontwave Credit Union. For example, a transfer from your checking account at "Home Town Bank" to your savings account at Frontwave Credit Union.
Frontwave Credit Union does not charge a fee for external transfers, but always check with your other financial institution to find out if they charge any incoming or outgoing electronic transfer fees. 
No. External transfers only work with U.S. routing numbers. Frontwave Credit Union does not support any international transfers.
The minimum amount for any transfer is $0.01. Members can transfer a maximum of up to $2,000.00 per day, and up to $10,000.00 per 30 day period.
Transfers going from your Frontwave account to an external account should be processed within 1-2 business days. Transfers coming from an external account into your Frontwave account should be processed within 2-3 business days. 
Yes. Once you’ve setup and verified your external account, you can use it to transfer money into your Frontwave loan account. However, you cannot transfer money from a Frontwave loan directly into an external account. Any advances off a loan must be transferred to your Frontwave checking or savings account first before being transferred to an external account.

If a transfer setup for today is still in pending status, it can be canceled by calling us at 800.736.4500 or visiting a branch. If the transfer is set for any day in the future, you can cancel it on your own. To do so:

  1. Login into Online Banking and click on “Transfer & Bill Pay,” then select “Transfers.”
  2. Select the “Scheduled” tab, then find the transfer you would like to cancel.
  3. Click on the trash can icon next to the transfer, then click “Yes, Cancel.”
The recurring weekly transfer will happen on the same day of the week as the day you initially set the transfer for. For example, if you set up your first weekly transfer to begin on Thursday, March 14, the next transfer in the series will take place on Thursday, March 21.
Yes. You can also add an External Account by going to the “Transfers” tab in the mobile app and clicking on “Add account."
No. Due to regulations with these types of accounts, online transfers are not allowed.
Yes. Frontwave Credit Union may revoke your ability to complete remote external transfers as it deems necessary. (This may occur, for example, if you violate the External Transfer User Agreement.)
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