How To Transfer Funds From One Bank To Another in Six Easy Steps

Posted by Terrabank on Feb 26, 2021 12:16:47 PM


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).


About Terrabank

Terrabank, N.A. is a federally insured national banking institution established in 1985 to provide financial services to South Florida's business community, the small-business owner and the professional. Our staff of seasoned banking professionals take great pride in Terrabank’s entrepreneurial spirit and we are committed to understanding our customers, their businesses and our City to ensure that we are providing the support they need to grow their businesses and achieve their goals.

We understand small businesses because we are a small business. Unlike the larger regional and national banks, we know we must work harder and smarter in order to succeed and that means always looking to provide our customers with the support and services they need, how they need them and when they need them.

Subscribe Here!

Recent Posts

Post Filter