Financial Advice

Transferring Funds

Especially when finances are tight, it’s important to know just how you can transfer money quickly to friends, family, or even colleagues. Consider these six ways to transfer money should the need arise.

Published Sep 15, 2021 | Updated May 8, 2024

You have more flexibility than ever to put your money where you need it, when you need it there. Did you know that you can make digital payments directly to your UFCU loan using funds at a different institution? Read on for ways to move your money.

  1. Transfer into your share or loan account from another institution.Sometimes, the money for a payment on a UFCU auto loan or personal loan must travel from your account at a non-UFCU bank. You can make this type of payment using a single funds transfer. You can also transfer funds into your UFCU checking, savings, and credit card accounts. Establish a link ahead of time between institutions within UFCU Online Banking (Transfers»To/From Other Institutions) or UFCU Mobile Banking (Transfer Funds»Other Institutions). One-time external account verification can take up to 3 business days.

  2. Set up a transfer to another UFCU Member.This is an immediate and secure option for transferring money to another UFCU Member. To make the transfer, provide the recipient’s last name, nine-digit account number, and the account type, which could be a banking (share) or loan account. Choose Transfer»Between UFCU Accounts within Online Banking or Transfer Funds»Other Members within Mobile Banking. You can even add a comment that the recipient can see.

  3. Use a third-party payments app or service. Your UFCU account can fund many convenient payment services, such as PayPal, Paypal Anywhere, Google Pay, Venmo, Cash App, and Apple Pay®. You will need the recipient’s user name or identifying information, and you must identify your UFCU account within the payments app.

  4. Set up the recipient as a payee for bill payments within Online Banking. This option is a great choice for planned, recurring payments. Schedule your payment for at least 10 business days before the payment is due. Make sure the recipient can accept a paper check from UFCU in the mail.

  5. Transfer money to your own account at another financial institution. It’s easy to transfer money to an account at another financial institution. The first step is to identify the account so that UFCU can find it. In Online Banking, choose Transfer»To/From Other Institutions, and select Manage Accounts. Or in Mobile Banking, choose Transfer Funds»Other Institutions. From there, click Add Account. Be prepared to provide the routing number of the other institution as well as your account number. Once you make the request, you’ll receive a test deposit (usually under $1) that you will need to verify. Once the test deposit has been confirmed, you can make transfers and expect them to clear within 3-5 business days.

  6. Digitally wire money to another financial institution. At UFCU, you can wire money to any other financial institution within the United States. You’ll need the routing number of the financial institution and the account number of the recipient. Incoming transfers received before 4 PM and outgoing transfers requested before 2:30 PM are processed the same day. (Incoming wires are free of charge, and outgoing wires cost $20.) You’ll need to submit a domestic wire request. In Online Banking, scroll down to Wire Transfers, then click Send Funds. Then verify your identity by answering a few security questions, complete and fill out the wire request form, create a digital signature, and sign the form.

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