SCCU External Account Transfers Frequently Asked Questions

The following are common questions about how to transfer money between your SCCU accounts and your accounts at other U.S. financial institutions using our External Accounts Transfer Online Banking service. Please contact the Member Service Center if you have any additional questions about this Online Banking enhancement:

Brevard: 321-752-2222, option 5 • Toll-Free: 800-447-SCCU, option 5

Frequently Asked Questions

Q. What do I use this service for?
A. You can use this service to transfer funds into and out of your accounts at SCCU as well as to and from your accounts at other financial institutions.

[Back to Frequently Asked Questions]

Q. How does the service work?
A. The service transfers money from one of your accounts to another of your accounts at a US financial institution. All transfers are processed via the Federal Reserve’s Automated Clearing House (ACH) network. This network is used by financial institutions to process every day checks and other electronic transactions. We submit requests to the ACH network to transfer funds between the accounts you specify.

[Back to Frequently Asked Questions]

Q. How much can I transfer using this service?
A. Click here to learn more about the limits applicable to you for the service.

[Back to Frequently Asked Questions]

Q. What are the fees for using this service?
A. Click here to learn more about the charges applicable to your service.

[Back to Frequently Asked Questions]

Q. What accounts can I use with this service?
A. Any checking or savings account may be setup with this service. Most of the money market accounts and brokerage accounts may also be setup.

[Back to Frequently Asked Questions]

Q. Can I use my kids account with the service?
A. You can setup any account with the service if you are able to prove ownership or control over the account.

[Back to Frequently Asked Questions]

Q. Why is trial deposit /withdrawal verification of my account required for account setup?
A. The trial deposit/withdrawal verification process ensures that the rightful owner is setting up the account with the service. It also ensures that the accounts given are valid.

[Back to Frequently Asked Questions]

Q. How often will I have to go through the account setup process for an account?
A. Account setup and activation is a one time process for each account you set up with the service.

[Back to Frequently Asked Questions]

Q. Can I send funds to someone else's account?
A. No.

[Back to Frequently Asked Questions]

Q. Can I use this service to transfer money between accounts at SCCU?
A. No. You cannot initiate transfers between SCCU accounts using this service. To do so, please use the Transfers service within SCCU Online Banking.

[Back to Frequently Asked Questions]

Q. When do you execute my funds transfer request?
A. Your funds transfer request enters into the ACH system on the same business day, provided you've made your transfer request before the cutoff time. Otherwise it will be sent the next day.

[Back to Frequently Asked Questions]

The transfers are posted to your account the next business day. However depending upon the financial institution, it may take an additional business day for the transaction to be reflected in your account balance. Once we receive the funds from source account we repeat the process to send the money to the destination account and overall the process may take 3 to 5 business days to complete delivery of funds.

[Back to Frequently Asked Questions]

Q. Do account transaction limits and/or fees assigned by my financial institutions apply to Create Trasfer transactions?
A. Yes. In all cases, limits and conditions placed on accounts by individual financial institutions apply to Create Transfer executed transactions. Please note that your external account financial institution may charge any and all fees resulting from such conditions to you. If in doubt, please contact those financial institutions to determine whether restrictions and/or conditions, including fees, pertain to transactions made into or out of any of your accounts.

[Back to Frequently Asked Questions]

Q. How long does it take to complete a funds transfer request?
A. It usually takes 3 business days on a Standard service. The specifics will depend in part upon the time you initiated the transfer, your previous transfer history with the service, amount of transfer, and perhaps in part upon how quickly your institution updates your account after receiving the money. Full details regarding your funds transfer requests are viewable on the Completed Transfer Status screen.

Standard: 3 Business day service
Day 0: Transfer has been accepted. A withdrawal transaction is initiated and will be sent to the Fed Network.
Day 1: Withdrawal transaction is posted on the source account.
Day 2: A standard two business day hold to ensure the funds availability.
Day 3: Funds are sent to the destination account and will be made available at opening of next business day.

Please note that a bad transaction history or no transaction history with the service may result in an additional one day hold on transfers resulting in 4 business day service.

[Back to Frequently Asked Questions]

Q. Why would an attempted transfer be unsuccessful?
A. A Transfer Funds request will be rejected, if it cannot successfully be posted to your account. The most common reasons for failed or returned transfers are:

Exceeding the dollar limit for an individual transaction, total transactions per day, week or month, or outstanding transfers (transfers that you've initiated but which haven't been finalized) Lack of sufficient funds in the source account, Lock placed by a financial institution on one of the accounts, ( account number or routing number may have changed since registration, account may be frozen by the institution, account may have reached allowed limits of number of such transactions, etc.) You will be notified by e-mail if we have received a "Return" message on your transaction indicating that the transfer has not been completed. Full details will be available on the History screen.

[Back to Frequently Asked Questions]

Important information about External Transfers

  • Available only for accounts held at financial institutions in the U.S.
  • The minimum amount per transaction is $20
  • The maximum amount per transaction is $2,500
  • The maximum number of transactions is 3 per day, for a total maximum transaction amount per day of $2,500
  • Transactions into an SCCU account from another financial institution are FREE
  • Transactions out of an SCCU account and into another financial institution are $2 per transaction
  • Transactions are subject to SCCU’s non-sufficient funds policy and fees. Attempts to transfer funds that are not available at the time of transfer request are subject to a $29 failed transaction fee.
  • Transfers requested by 8:00 p.m. Eastern Time, will begin to be processed the next business day.
  • Transfer requests received after 8:00 p.m. Eastern Time, will begin to be processed on the second business day after your request is submitted. Our business days are Monday through Friday, excluding federal holidays.
  • May not exceed a total of five (5) transfers weekly from your SCCU checking account(s).
  • May not exceed a total of six (6) transfers monthly from your SCCU savings account per statement cycle due to Federal Regulations.
  • Only SCCU savings or checking accounts (including Money Market checking accounts) are eligible for use at this time. Transfers may not be made into or out of loan or sub-savings accounts (including My Way accounts).
  • Please note that all deposits made to your SCCU account are subject to our standard holding period (5 calendar days).

[Back to Frequently Asked Questions]


[Back to Top]