One of my favorite Digital Banking features is External Transfers1. It gives members the ability to link to accounts they may have at other financial institutions. If you want to send money from Connexus to one of your other accounts, or vice versa, all it takes is a simple transfer.
How I Use External Transfers
Being a fairly new employee at Connexus, I still haven’t moved all my accounts over quite yet. Don’t tell anyone, but my minivan is currently financed at another credit union. But I do have an active checking account at Connexus. So I linked my Connexus Checking Account with my outside account. With External Transfers, I’m able to schedule monthly payment to pay my loan each month.
This feature is also really helpful with moving funds into Connexus. After I opened my Xtraordinary Checking Account here, I was able to transfer funds from my old checking account (and other accounts) to Connexus in order to maximize the 1.75% APY2. External Transfers made it easy to transfer my funds to Connexus.
More About External Transfers
After you set up External Transfers, it typically takes 1-2 business days for funds to move in or out. In some cases weekends and holidays can cause it to take up to three days.
To take advantage of this slick feature, just enroll in Digital Banking and give us a call to request access. Our number is 800.845.5025. Once you do that, you can begin linking your accounts. Follow this instructional guide to learn more about linking accounts and using External Transfers to make a loan payment.
Paul Kurth is the Connexus Digital Banking Manager. In this role, Paul leads the innovation and usability of Connexus’ award-winning platform.
1 Feature eligibility required and restrictions apply. See transfer service disclosure for more information.
2 Annual Percentage Yield (APY) accurate as of 9/18/2017. Xtraordinary Checking required products and services include enrollment in Digital Banking, eStatements, and transact a minimum of fifteen (15) debit card purchases, one (1) direct deposit, and one (1) third party Connexus Online Bill Pay debit which must be posted to your account by the last business day of the month. ATM transactions not included. You must meet the account requirements. 1.75% APY earned on qualifying accounts $25,000 or less. Accounts in excess of $25,000 earn 0.25% APY; non qualifying accounts earn 0.20% APY. No minimum balance is required. Dividends are compounded and paid monthly. Fees may reduce earnings. Rates subject to change.