USA Credit Union | Personal Finance

USA Credit Union Funds Transfer: Frequently Asked Questions

Q. What is Funds Transfer?
A. Funds Transfer is a money movement tool that allows members to transfer funds electronically between USA Credit Union and other financial institutions.

Q. How Do I Enroll In Funds Transfer?
A. It's Free to setup and only requires completion of a quick secure form in Online USA's online banking. Simply login to Online USA and click on the tab at the top of the Online USA home page entitled "External Transfers" to get started.

Q. What Information Should I Have Available When Signing Up For Funds Transfer?
A. When signing up for USA Credit Union's Funds Transfer Service, you'll be asked to input your name, email address, phone number, driver's license number and social security number. All personal information is carefully stored and secured using the latest in encrypted technology.

Q. Can I Transfer Funds to or From any Financial Institution or Brokerage House?
A.Over 23,000 financial institutions, banks, credit unions and brokerage houses are currently participating.

Q. How Do I know If My Other Financial Institutions are Participating?
A. There is a search in USA Credit Union's Funds Transfer that allows you to search for your financial institution or you may enter the 9-digit ABA routing/transit number. If you cannot find the institution, it is not yet setup to receive electronic funds transfer from USA Credit Union.

Q. How Much Does the Funds Transfer Service Cost and How Much Can I Transfer?
A. Transferring funds electronically into USA Credit Union is Free! Fees for outbound transfers and acceptable transfer amounts are as follows:

Type of Transfer	USA CU Price
Inbound Transfer - std. (3day) $0 - $ 2,000	Free
Inbound Transfer - std. (3day) $2,001 - $5,000	Free
Inbound Transfer - std. (3day) $5,001 - $10,000	Free
Inbound Transfer - std. (3day) $10,001 - $25,000	Free
Inbound Transfer - next day - $0 - $ 25,000.00	$8.00
Outbound Transfer - std. (3day) $0 - $ 2,000.00	$3.00
Outbound Transfer - std. (3day) $2,000.01 - $ 5,000.00	$4.00
Outbound Transfer - std. (3day) $5,000.01 - $ 10,000.00	$5.00
Outbound Transfer - std. (3day) $10,000.01	$6.00
Outbound Transfer - next day - $0 - $ 25,000.00	$10.00

*Fees are withdrawn from the member's account at the time of the transfer
** The receiving institution may charge a fee for receiving this electronic transmission - please check with them directly if in doubt.

Q. Can I Transfer Money Between USA Credit Union and International Financial Institutions?
A. No. This Service is currently only available to financial institutions within the United States due to international legislation.

Q. What Types of USA Credit Union Accounts Can Be Accessed by Funds Transfer?
A. Members can schedule transfers into or out of their checking, savings or money market accounts.

Q. What Types of Accounts Are Not Eligible For Funds Transfer?
A. The following accounts are not eligible for Funds Transfer Service:

Individual Retirement Accounts (IRA, 401K)
Custodial and/or Trust Accounts
Business Accounts
Savings Certificates, Certificates of Deposit (CDs) or other time based accounts
Loan Accounts (including credit card and equity accounts)

Q. Can I Set Up A Funds Transfer Now To Be Executed At A Future Date?
A. Yes. Within USA Credit Union Funds Transfer, you can select "schedule" which allows you to input a date up to one year in the future to schedule a funds transfer.

Q. How Long Does It Take For Funds to Transfer and Post at the Other Financial Institution?
A. A transfer initiated on a Monday before 7:00 pm EST using the "3 day" transfer option will be received and posted by the other financial institution on Thursday. A transfer initiated on a Monday before 2:00 pm EST using the "next day" option will be received and posted on Tuesday.

Q. If I initiate a transfer on a weekend when will the transfer take effect?
A. The first day of the transfer schedule will be Monday. If Monday is a holiday, the transfer process will begin on the following business day.

Q. Is There A Minimum Balance Required In My Account Before I Can Perform An Electronic Funds Transfer?
A. There is no minimum balance required to schedule a transfer. USA Credit Union will make every attempt to verify balances prior to the transfer being competed but it is the member's responsibility to ensure that adequate funds are available in the account prior to all transfers. A transfer could draw a member into a "NSF" situation.

Q. How Do You Protect My Security and Privacy?
A. We're committed to maintaining the privacy, security and integrity of the financial information you share with us and take every precaution to do so.

We've designed multiple levels of security to protect your information from loss, theft, unauthorized access, modification and disclosure.
We verify that our security measures conform to all applicable federal, state and local laws.
Sensitive information is encrypted with state-of-the-art encryption software and our procedures include extensive in-house privacy measures.

Q. How Do You Verify My Identity?
A. We use a two-tiered verification system to make sure your accounts are secure:

When you sign up for funds transfer, we verify your identity and the accounts held at USA Credit Union. After accepting the terms of service disclosure, you can begin using funds transfer.
Occasionally we're unable to register successfully because of incomplete information received from your outside financial institution(s). If this happens, you will have a chance to provide this information and you will be registered for the service.
Before activating the accounts you hold at outside financial institutions, we'll verify each one with that specific financial institution. This takes a little more time, but it is part of the care we take to maintain your privacy and the overall integrity of the payment network.

Q. Do You Share My Information With Third Parties?
A. Your information is never shared with third parties.