If your funds are spread across accounts at different banking institutions, it helps to have a seamless way to make transfers between them.
Terrabank makes transferring money from one bank to another convenient online. Here's a step-by-step guide to transferring funds through our online banking platform.
1. Go To the Terrabank Website To Link Accounts
Log in to your Online Banking and click on the "Money Movement" section, then "Transfer," and finally, "Manage Accounts."
2. Proof of Account Ownership
To add an external account, you have to verify your Terrabank account with the other Bank Institution.
3. Provide the Necessary Information
Terrabank will ask for the account and routing number for the other Bank Institution and whether it's a checking or savings account.
4. Verify the Account
Terrabank will then ask you to verify your account with the other Bank Institution in one way: Terrabank will initiate two small transfers (Micro Deposits) to the other Bank Institution.
Note: You will need to log onto the other Bank Institution to see how much was deposited.
5. Verify the Deposits
Log into Terrabank Online Banking and go to the "Money Movement" section, then "Transfer," and finally, "Manage Accounts."
There should be a part that says, "Verify Your Deposits," where you will enter the amounts that were transferred to the other Bank Institution. This process usually takes at least 2-3 business days.
6. Start Transferring Money From One Bank To Another
You are now able to transfer money from Terrabank to another Bank in the U.S with no problems. You can set up recurring or one-time transfers, depending on your needs.
Typically, transferring money between two accounts is free, but there's a limit on how much you can transfer at one time ($1,000).