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External Transfers
also known as TransferNow

Effortless Money Movement Across Accounts

Do you have a Checking Account at CBI FCU?  If not, get started now by completing this form!

ADD CHECKING ACCOUNT

Do you also have financial accounts at multiple credit unions and banks?  If you do, you’re probably searching for an easy way to transfer money to and from your CBI FCU accounts and accounts at other financial institutions. 

We are excited to announce the launch of External Account Transfers, a powerful and secure account-to-account transfer experience through the Automatic Clearing House (ACH) process.  With this new feature, simply link your external Checking and or Savings at other financial institutions with CBI FCU.

External Transfers

FEATURES:
  • Available through Virtual Branch and our Mobile App.
  • No forms to complete
  • One-Time, scheduled and future-dated transfers.  Set these up day or night, anytime!
  • Link Multiple Accounts, Connect your external bank or brokerage accounts directly to your CBI FCU checking account for seamless transfers into or out of CBIFCU.
  • Standard and expedited delivery options.
  • No extra fees   
Q & A
  • What is an External Account and External Transfer?
    • An External Account is an account that is housed in a different financial institution other than CBI Federal Credit Union.  External Transfers are transfers between other financial institutions and CBI Federal Credit Union.  For example, a transfer from your checking account at "ABC Bank or Credit Union" to your checking account at CBI Federal Credit Union.   
  • How much does it cost to do an External Transfer? 
    • CBI FCU 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.  
  • Who is eligible for External Transfer (TransferNow) and what types of accounts are eligible?
    • As long as you have a CBI FCU Checking account in good standing you are eligible.  You can transfer funds to or from many account types at other financial institutions.  CBI FCU reserves the right to disable this feature for abuse or fraudulent activity at any time.
  • Can I transfer to someone else's account?
    • No.  It is against the External Transfer Agreement to transfer or attempt to transfer funds to an account that you are not a legal signer on.    Account titles and names need to be the same from financial institution to financial institution.  We offer ZELLE for all your person-to-other person transfers.
  • Can I transfer funds Internationally?
    • No, External Transfers only work with U.S. Routing numbers.  TransferNow does not support any international transfers, you can only transfer funds to and from accounts within the U.S.   
  • How quickly will my transferred funds appear in my account? 
    • Standard, arrives within three business days.   
    • Next-Day, arrives on the next business day.
    • Instant, happens within minutes.
  • Can I do External Transfers using my CBI FCU Mobile Banking App?
    • Yes.  You can also add an External Account by going to the "Transfers" tab in the mobile app and clicking on "Add account."
  • So how does it work?
    • Instead of using paper checks, ACH (Automated Clearing House) entries are created and transmitted electronically, making transactions quicker, safer, and easier.  CBI FCU submits the transactions to the ACH network to transfer funds between the accounts specified.
  • What account information do I need to make an external transfer?
    • You will be asked to verify your account with a Trial-deposit option.  You will need to know your Routing Number and Account Number.

If you have any questions at all or would like to learn more about our new external transfer capabilities, please contact us or check out our videos to learn more.

Get Started!

Ready to make your First External Transfer?
Watch this video or follow these detailed instructions.

WATCH TO LEARN MORE!

This will show you how to set up external accounts, create transactions, and view your transaction history or start by doing these basic steps below:

  • You MUST have a Checking account with CBI FCU
  • Log into CBI FCU Virtual Branch or the CBI FCU mobile app
  • Select Transfers:  Navigate to the Transfers section and choose "External Account Transfers"
  • Verify your Email address
  • Choose "Add a New Account"
  • Follow the on-screen instructions to add your external accounts.
  • Add a New Account to Link Accounts:  Select the Account type, enter Routing Number and Account Number manually      
    • When adding a financial institution for the first time, confirmation is required.  Two small deposits (each under $1) will be sent to the account you are setting up.  One withdrawal (debit) may be made from the account in the same total amount as the deposits.  You will be required to enter the two credit amounts deposited in order to verify access to your account.  These transactions generally take 1-3 business days to process.
  • Once your accounts are linked, you are ready to move money securely!