Transfer Funds

  • The receiving institution must be a member of the Automated Clearing House Network.
  • If a transfer request is received by 12:00 p.m. on a business day, the transfer will occur on the next business day. All requests received after 12:00 p.m. will be completed in two business days.
  • Funds received via Automated Clearing House Network transfer are available immediately on the day of the deposit.
  • Members will be charged $1.00 per transfer.

Click the Transfer Funds link below.

 

Transfer Funds

 

  1. What are the guidelines for transferring funds?  Before a transfer can be completed, it must be approved by the credit union management team. Most transfers are approved within 48 hours. The receiving institution must be a member of the Automated Clearing House Network.
  2. Once a transfer is approved, do I need to get approval for each individual transfer to and from that financial institution in the future?  No, once approved you can make multiple transfers to and from that particular financial institution.
  3. How do I know if the receiving institution is an Automated Clearing House Network member?  The credit union recommends you contact the receiving institution and ask for their Automated Clearing House Network instructions.  We also recommend that you verify the institution’s routing and transit number.
  4. Do my Your Legacy Federal Credit Union funds have to be transferred from a specific account such as
    share savings or can I transfer funds from any account? 
    Transfers can be made to and from checking or savings accounts.
  5. Is there a maximum number of transfers that can be made to and from the credit union each month?  You can make up to six transfers from your share savings account and an unlimited number of transfers from your checking account.
  6. Is there a minimum dollar amount for each transfer?  There is no minimum dollar amount for each transfer.
  7. Can I set up repeating transfers like repeating payments in Web Bill Pay?  Yes, you can set up a transfer to repeat daily, weekly, bi-weekly, monthly, etc.
  8. Is there a charge for this service?  Yes, you will be charged $1.00 for each transfer.