Fedchoice Federal Credit Union - Altogether Better




eTransfer is your solution for transfers between financial institutions. It's 5:00 am – you just thought of a transfer you need to make to another financial institution and you can't wait until the Financial Service Center opens – eTransfer IS YOUR SOLUTION.

What is eTransfer?
  • A service that permits you to send and receive funds to or from another bank or credit union account.
  • You may transfer funds to or from any account of which you are an owner or co-owner.
You're in Complete Control
  • You set up the transactions
  • You initiate the transfer
  • You set the amount, the date and the account
  • You can set up recurring transactions
  • You can track the transactions
  • You receive a confirmation e-mail for the transactions
  • You will find your transactions listed on your account statement
  • You will value the security and confidential transfer process
The Facts are Simple
Fee for setting up the account FREE
Transfer fee from another institution FREE
Transfer fee to another institution FREE
Non-sufficient funds fee $33.00
Enrollment Requirements for eTransfer (Account to Account Transfer) Service
  • Open an account at FedChoice Federal Credit Union and sign up for eBanking
  • Set up your eTransfer transactions
  • Already have eBanking? Sign in now and register for eTransfer (Account to Account Transfer) Service!
  • Call 301.699.6151 • 800.969.6151 for assistance.

eTransfer Frequently Asked Questions

Q. How would I use the eTransfer?
A. eTransfer is designed to allow members to send money to their own accounts at any bank or credit union in the United States through the Automated Clearing House (ACH) Network, which provides interbank clearing of electronic payments.
Q. Can we use this service for transferring to and from accounts within FedChoice?
A. No. This service is specifically for transfers where one of the accounts exists outside the credit union. If you want to transfer between two main FedChoice account numbers and you are an owner of both accounts, please contact the Financial Advisory Center. They will set up an option within eBanking to allow the transfer. eBanking (Online Banking) already allows transfers to any share or loan accounts that exist under one main account.
Q. How long will it take for me to set up the opening transfer?
A. It will take 1 to 2 business days to set up the opening transfer. Enter the account number and routing number for each financial institution where transfers will occur. The routing number for FedChoice may be found at the bottom of your check. Once the account and routing numbers have been entered, a test transfer will be sent automatically (less than $1.00) to confirm the set-up. You will then need to confirm receipt of this transfer. After confirmation has been received, you may then set up your first transfer.
Q. Do I have to be the owner or co-owner of the account at both financial institutions?
A. Yes.
Q. Is there a limit to how much I can transfer using the eTransfer?
A. The maximum amount is $20,000.00 per day.
Q. Is there a limit to the number of transfers I can make each month?
A. No.
Q. How will I know when a transfer has been completed?
A. You will have access to this information on the eBanking transactions history page. You will be able to know exactly where the transfer is at any time.
Q. Is there a way for me to stop a transfer once it has been put into motion?
A. If the transfer is still appearing as Scheduled, it can be cancelled. To cancel a scheduled transfer, click on your share or loan account and the scheduled transactions will be displayed right before your posted transactions. You can cancel your scheduled transactions from here. If the transaction does not appear in this list, then the transfer process has already started and you would have to transfer the funds back once they have been deposited into the receiving account.
Q. Will I be charged a non-sufficient funds fee if there is not enough to cover the transfer?
A. Yes. The credit union charges a $33.00 fee.
Q. Will I have to come into a Financial Service Center to sign up for the eTransfer?
A. No. The entire process takes place online. You will need to agree to the Terms and Conditions of the service before you can set up transfers.
Q. Who do I call/contact if I have a question concerning a transfer conducted through the eTransfer?
A. You can send a secure e-mail within online banking or call the Financial Advisory Center at 301.699.6151 • 800.969.6151.
Q. Will I need to be set up on eBanking before I can use the eTransfer?
A. Yes. The eTransfer sits behind eBanking the same way BillPay does.
Q. What are the benefits of the eTransfer?
A. Ease of use, provides a premium online banking experience for you and the service is safe and reliable.
Q. Why wouldn't I just use BillPay service to transfer the funds?
A. You would have to have BillPay set up at both institutions in order to send money back and forth. Also, many of the BillPay transactions do not occur through ACH. Often, a check is mailed from one institution to the other. With this process, you lose the ability to track the transfer from beginning to end. There is also the risk that the check could be lost in transit.
Q. Can I transfer funds to make a loan payment at FedChoice Federal Credit Union?
A. Yes.
Q. How do I go about sending funds to an individual who is not listed on my account?

A. With the new eTransfer, FedChoice no longer offers the capability to transfer funds to an individual who is not listed on the account as a primary or joint owner. This change was instituted to protect the privacy and confidentiality of our members’ accounts. Both the sending and receiving individuals now need to be listed as account holder(s) where applicable. If you would like to add an individual to your account, please contact the Financial Advisory Center for assistance – 301.699.6151 • 800.969.6151.

If you would like to transfer funds to an individual who is not listed on your account, it will be necessary to set up this individual as a Payee within BillPay. With BillPay, you may send funds to this individual in the same way that you would pay a bill. A check would be sent to the individual on the date and for the amount that you specify. Please be aware, however, that funds may not be automatically transferred from this BillPay account. 


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