External Transfers
Did you know that you can transfer money to and from an external account? This means you can connect your Southern Heritage Bank account to your account at another financial institution and transfer money or make loan payments.
- External Transfer Rules:
- Available for consumers
- Available through our online banking platform
- Limit of 5 transfers per day
- Limit of 20 transfers per month
- Transfers cannot exceed $1,500 out of the bank per day
- Transfers cannot exceed $1,500 into the bank per day
- When transferring to another bank, funds will be sent out the next business day (ACH transfer)
- When receiving funds from another bank, funds will be available after the third processing day (example: if the funds are requested Monday, they will be available on Thursday)
*Holidays may affect funds availability
How To Set Up An External Transfer
Setting up your account to be able to make transfers to or from an external account, follow the following:
- Login to your online banking account
- Click “Money Movement” at the top of the website
- Click “Add Accounts”
- Select “External” to indicate a new external account setup.
- Indicate which type of account the external transfer is.
Complete the information, such as the Routing Number, Account Number, Financial Institution, Account Relationship, Owner’s Name and Account Name (nickname that will appear for the customer to see in your online banking platform).
After you enter your account information, you will be presented with a verification screen that includes instructions on how to confirm your account. There will be two micro-deposits that will be sent to your external account. This step ensures that when you open the external account, you are authorized to access that account.
Micro-Deposits
After receiving the micro-deposits in the external account, you will need to log back into your online banking account with Southern Heritage Bank and verify those amounts.
Once an account has been set up and confirmed through the micro-deposit function, you will be able to move money under the “Money Movement” option in the online banking platform.
