External Transfers: Your Money, Your Way
Effortlessly transfer funds between your accounts at Exchange Bank and other financial institutions—all from the comfort of your online banking dashboard or mobile app.
Main Features
Access Your Dashboard
- Log in to your online or mobile banking app.
- Locate the plus sign (+) next to "Accounts" on your dashboard and click or tap it.
Select "Make External Transfer"
- Choose the option to add an external account for transfers.
- You may be prompted to enter your account password or answer a security question for verification.
Search for Your Financial Institution
- Select your bank from the list of frequently used institutions or search for your bank's name.
Provide Account Information
- Enter the Name on the Account (this will serve as the display name in your online banking).
- Input the Routing Number, Account Number, and select the correct Account Type.
- Once all information is entered, click or tap Submit.
Wait for Verification Deposits
- You’ll receive a confirmation that two small deposits have been sent to the external account.
- These deposits typically appear within 1 to 3 business days.
Complete the Verification
- Once the deposits have been posted to your external account, navigate to "Transfers” in your dashboard then “Transfer to other institutions by adding an external account.” This will take you back to the screen to verify the deposit amounts.
- Enter the exact deposit amounts to complete the verification process.
Start Transferring
- Now the external account will display as an option when accessing the transfer feature in the application.
External TRANSFER Availability and Processing Times
- Incoming Transfers to Exchange Bank:
Funds will memo post after the end of the day. Availability of funds will occur on the next business day. - Outgoing Transfers from Exchange Bank:
The transferred amount will be debited from your Exchange Bank account at the end of the day. Funds will be posted and available at the external institution 1-3 business days later. - Transfer Requests After Cutoff Time:
External transfer requests submitted after 5:00 PM Eastern Standard Time will be processed on the next business day. - Daily Limit:
External transfers are restricted to a maximum of $2,000 per day.