External Transfers FAQ
What is an External Account?
An account you have at another financial institution in your name.
Where do I add an External Account?
From the Menu select Transactions > Add External Account
What information is needed to add an External Account?
- The other Institution’s Routing Number
- Your Account Number at the other financial institution
- Account type (checking or savings)
What are micro deposits?
Two small deposits sent to your external account (typically within 5 business days). Micro deposits are random deposits in amounts less than $1. These deposits are used for account verification.
Troubleshooting: It’s been 5 business days why haven’t I received the micro deposits?
The most common reasons micro deposits are not received successfully:
- Account number or routing number keying error
- Contact the other financial institution to verify the correct routing and account number
- Some institutions do not use a single routing number for all account types
- After verifying the routing and account number with your other financial institution please contact us to remove the information so you may try again.
- Account type mismatch (selecting checking on a savings account and vice versa)
- Savings accounts - contact your financial institution to verify if your savings is eligible for ACH transactions as not all financial institutions allow for ACH transactions on savings accounts.
Do I need to return the micro deposits to TwinStar?
Successful micro deposits are not returned to TwinStar, though we appreciate your concern.
How long does it take for funds to be received?
External Transfer requests are NOT processed immediately. Please allow up to five business days for funds to be received. External Transfers are processed Monday through Friday prior to 12:00pm excluding holidays. Requests submitted after 12:00pm Monday through Friday or on a holiday will be processed the following business day. External Transfers are processed electronically as ACH (Automated Clearing House) transactions.
I verified my external account, how do I move funds?
Once verified, from the Menu select Transactions > Transfer Funds. Your external account will show in the From and To drop down lists.
Can I nickname my external accounts?
Absolutely! From the Menu select Settings >Account Preferences. You can enter a nickname and also change the order of how the accounts display if you wish.
How do I delete an external account I no longer use/have closed?
We are happy to help via:
- Secure online or mobile banking message specifying which external account you’d like removed
- From the Menu select Messages > New Conversation > with Member Service
- 1.800.258.3115 option 3
- M-F 8:00 am to 5:30 pm, Sat 9:30 am to 2:00 pm excluding holidays
Can you add an external account or move funds for me?
We’re happy to help guide you through the process though for security we cannot perform the actions on your behalf.
I see micro deposits in my account, where do I verify them?
While logged into TwinStar online/mobile banking from the Menu select Transactions > Verify External Account.
Will I get a message if the micro deposits aren’t successful?
No message will be generated. If the micro deposits have not been received in your External Account within 5 business days please refer to troubleshooting steps.
What happens if the micro deposits are entered incorrectly?
On the Verify External Account page if the micro deposit amounts are not entered correctly a message will display sharing the amounts do not match. After three invalid attempts the External Account will be removed and you will be required to complete the setup process from the beginning.
Can I set up external transfers from my TwinStar Mobile app?
Absolutely! Online Banking and Mobile Banking conveniently share the same navigation and steps.
How will I know when the micro deposits have been sent?
Once the micro deposits have been sent the information displayed on the Verify External Account page will change to reflect selection of the account to be verified and fields to enter the deposit amounts.
What happens if I forget to come back and verify the External Account?
After two weeks the request will be removed from the Verify External Account page and you will be required to complete the setup process from the beginning.
I verified the micro deposits but don’t see my external account available on the Funds Transfer page?
After verifying the micro deposit amounts successfully to save the information to your account requires a log out and back in to online/mobile banking.
How many External Accounts can be added at one time?
Up to three can be added at one time. Until those three have been verified no further External Accounts can be added.
Why can’t I make a payment to a loan on my External Account?
External Transfers are a federally regulated transaction type that allows for transactions to savings or checking only.
Can I add an External Account in a friend or family member’s name?
No, External Transfers are allowed on accounts that you are an owner of only.
Can I add an External Account at a Financial Institution outside of the U.S.?
Only domestic (U.S.) financial institutions are allowed.Online banking Transfers