If you have accounts at different financial institutions, you know how important it is to be able to access those funds when you need them.
Enjoy an easy and secure way to make account-to-account transfers with TransferNow®, our inbound and outbound account transfer service.
Through online banking or in the mobile app, you can use TransferNow to complete external account transfers between your account(s) at Citizens Bank & Trust Co. and other financial institutions. You can access TransferNow from your online banking homepage by selecting “Transfers”, then “Launch External Transfers” and following the on-screen instructions to add and verify your accounts. With TransferNow, you have more flexibility and control over your money.
Before a transfer can be made, the user must verify ownership of the account at the other financial institution. Funds can only be transferred between accounts with same ownership. User should select Add New Account from the External Transfer page in Online Banking. Users have two options for account ownership verification: real-time and trial deposits. The real-time verification process is the default as it allows the user to proceed promptly with the transfer. However, the users will be asked for their log-in credentials at the other financial institution including any challenge questions. If the user does not want to use this method they can select the trial deposit method by clicking link in Information box.
Who is it for:
Personal customers, only between US accounts. Funds can only be transferred between accounts with same ownership.
What types of accounts are eligible for TransferNow activity?
Checking, Savings, Money Market Checking, and Money Market Savings accounts. Loan accounts at Citizens Bank can be credited from external accounts, but loan advances to outside deposit accounts are not permitted.
In addition, limited brokerage account support is offered for external accounts. The firms supported are:
- Ameriprise Financial
- Charles Schwab
- Fidelity Investments
- Merrill Lynch
- Morgan Stanley
- Principal® Funds Money Markey
- Scottrade, Inc.
- Smith Barney
- TD Ameritrade
What’s delivery speed?
Customers choose. They can select either Next day or 3 day option. TransferNow will inform customer at time of request if next day is not available for the requested financial institution. Recurring transfers can also be scheduled.
What are the dollar limits?
- Next day (in or out) $2,000 per transaction or per day, $5,000 for month.
- Three day (in or out) $5,000 per transaction or per day, $10,000 for month
For more information, please contact a customer service representative at 320-587-2233.