Frequently Asked Questions | eTransfers
What is eTransfer?
The eTransfer service allows you to transfer a small amoutn of money between your Franklin Mint Federal Credit Union checking, savings, or money market account and similar accounts at another financial institution. It also allows you to make payments directly to a Franklin Mint Federal Credit Union loan.
Keeping our member’s information secure is vital to us. We combine the latest technologies, such as firewall protection, password and data security, and best practices to ensure the integrity of the data is not compromised.
For added security, this service is only accessible to you through e-Banking. Therefore you can be comfortable that your eTransfer information is as secure as any other service you are currently using via e-Banking.
For an introductory time period the e-Transfer services are free to all eligible members.
To be eligible for this service you must:
- Be an e-Banking user
- Have a recurring direct deposit coming into your FMFCU account
- Be 18 years of age
- Be a member for a minimum of 60 days
- Have no loan delinquencies
- Have no writs or other legal holds on your account
- Have no detrimental third-party record
You can transfer to or from a Franklin Mint Federal Credit Union checking, savings or money market account. You may also make a loan payment directly to a Franklin Mint Federal Credit Union loan.
The following accounts cannot accept transfers through the e-Transfer service.
· Individual Retirement Accounts (IRAs).
- Custodial and Trust Accounts.
- Business accounts.
- Credit card and mortgage loans.
That depends. The e-Transfer service can be used between your FMFCU account(s) and account(s) at another financial institution. The service is offered for the purpose of sending a small amount of funds, quickly and easily to and from your FMFCU account and other accounts you may have at another Financial Institution. Some financial institutions may accept deposits into the account of another party. Please check with the other financial institution regarding their policy.
To complete the online application, log into e-Banking and click on the eTransfer link from the left-hand menu.
During the application process, you will be asked to select the FMFCU account that you wish to credit or debit. You will also be asked to provide the account title, account number and ABA/ Routing number of the other financial institution. At least one of the accounts needs to be a Franklin Mint Federal Credit Union account.
No. To insure that all account information is accurate, we will make a small deposit into your account at the other financial institution. Please allow two or three business days. Once the verification deposit appears in your account, complete the online confirmation form located in Forms and Applications within e-Banking.
Upon receipt of your confirmation notice, your service enrollment will be completed and you will be able to make transfers at your convenience.
The ABA number (also known as the Routing Number) is a 9-digit number assigned to a financial institution by the American Bankers Association and is used for transaction routing. This is the number that directs the transaction to and from the correct financial institutions.
Franklin Mint Federal Credit Union’s routing number is 231382306. Your ABA or Routing Number is located on the bottom left-hand side of your checks. If you are unsure of the Routing Number for the other financial institution, please contact their customer service desk for additional information.
When you read or hear the term listed above, it refers to the format of your checking account used for electronic purposes. Though your checking account number is listed on the bottom of your paper checks, it does not always match up to the ACH format.
We encourage you when you are submitting an application for eTransfers to contact both FMFCU and the other FI that will be involved and verify the proper ACH account number.
A new application will need to be submitted for any new accounts your would like to add. Each to and from situation is treated as a brand new request.
For example, you are currently linked to send money from your credit union account to your Commerce checking account. You would now like to send funds from your Commerce checking account to FMFCU. You will need to submit an additional application for the latter.Example:
Application 1 - FMFCU to Commerce
Application 2 - Commerce to FMFCU
You can initiate transfers at your convenience. Typically, it takes two to three business days for transferred funds to be available.
Yes, during the transaction you will be prompted to enter the date and frequency of the transaction. Please keep in mind that funds must be available at the time of the transfer.
You can transfer funds 24 hours a day, seven days a week.
There is a daily limit of $500.00 per account when using the e-Transfer service. The service also allows incoming loan payments up to the full amount of a one-month loan payment.
No, you will not be able to use the e-Transfer service for this purpose
FMFCU can accept payments to an FMFCU loan or line of credit, however credit card payments and mortgage payments cannot be processed through the e-Transfer service.
Currently we are not offering this service for international transfers.
For security purposes your password must be at least eight digits in length.
If you feel as though your password has been compromised, we encourage you to notify us immediately. In order to do this, please contact our Member Service Center at 610-325-5100 or outside of PA at 800-220-3193.If you have locked yourself out of e-Transfers, you will need to reset your password. Go to e-Transfer, scroll down to "forgot password?" You will need to enter your member number and checking or savings account number. You will then be prompted to enter a new password.
A confirmation will be displayed on the screen when you have completed the transaction. You will not be notified when the scheduled transfer occurs or you receive a transfer of funds.
Through our 24 hour services, e-Banking www.fmfcu.org and/or our automated phone system (PAT) at (610) 325-5100 you will be able to verify the funds have either been successfully received or withdrawn.
Cancellation of a transfer would be dependent on the status of the transfer. The transfer can only be canceled if it has not yet been sent to the Federal Reserve Bank.
If you need to cancel a payment that is still pending, sign back into the e-Transfer service and cancel the pending payments. If you are not given the option to cancel, the payment is already in process and cannot be stopped.
When transferring from your savings and money market accounts, due to federal regulations (Regulation D), there is a monthly allowable limit of six electronic transactions. Please remember this limit will also include any transaction you may have already completed via ACH, e-Banking, or PAT, during the calendar month.
When transferring from your checking account, you will be subject only to the daily dollar limit of the transfer.
Please remember that Saturday, Sunday and Holidays are not part of the 2-4 day business-waiting period before you will see the transfer/deposit occur. If appropriate amount of time has transpired, please contact the Members Service Center or local FMFCU branch so that we may research this issue for you.
The eTransfer service is available to members whose account remains in good standing with the credit union. FMFCU reserves the right to revoke the service, either temporarily or permanently, if your use of the service has caused a loss to the credit union. The service may be permanently revoked even in the event the loss is not permanent.
An account in good standing generally refers to accounts that maintain sufficient funds to cover checks, ACH, ATM, and Point of Sale withdrawals done by the account owners. In other words, an account in good standing would be an account that is maintained and reconciled by the account owners.
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