What is an Account-to-Account Transfer?
A2A is a service that transfers money from one of your MyCU accounts to an account you own at another financial institution.
How do I set up Account-to-Account Transfers?
The A2A transfer service is available through online banking. To access A2A transfers:
- Sign into online banking and select “MyCU Move Money” under the “Transfers” tab.
- Click on the “Accounts/Contacts” tab.
- Select “Add Account”
- Add an external account by entering your account information at the other financial institution & verify the information entered.
- The system will send two trial transactions to the external account. Please allow 2 business days for the test transactions to post to the account.
- Once the test transactions have posted, “Activate” the account by verifying the deposit and withdrawal amounts.
- Start sending transfers to/from your external account.
Why is the trial deposit/withdrawal verification required?
The trial transactions and verification ensures that the rightful owner is setting up the account with the service. It also ensures that the accounts given are valid accounts.
What accounts can I use for A2A transfers?
You may use your MyCU Checking or Savings accounts to set up incoming and outgoing transfers to accounts at other financial institutions.
How long will it take for my money to be transferred?
A2A transfers are usually completed between 2-3 business days but can take as long as 5 business days.
Can I send funds to someone else’s account?
No. A2A transfers do not facilitate transfers to someone else’s account. You must be an owner on both accounts in order for the transfer to be processed. To send money to someone else, use the Person-to-Person (P2P) transfer option by creating a “Contact” in MyCU Move Money and entering their e-mail address or mobile phone number.
What are the fees for using A2A Transfers?
There are no fees to send or receive funds using the A2A transfer service. However, if you request an expedited transfer there is a $5.00 transaction fee. Failed transactions will result in a $25 fee.
What are the transaction limits for A2A Transfers?
- Minimum transfer amount: $20.00
- Maximum transfer amount: $2,000
- Maximum number of transfers per week: 5
- Maximum transfer amount per week: $3,000