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 Dashboard select Your Name > Settings. Scroll down to Accounts outside of TwinStar and click or tap Link an 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)
• Account Purpose
• Description

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 Dashboard select Transfer > Transfer. Your external account will show in the From and To drop down lists.

Can I nickname my external accounts?

To nickname your external account, from the Dashboard select Your Name > Settings. Scroll down to Accounts outside of TwinStar and click the drop down arrow to the right of your external account.  You will see an option to Edit Name.

Will you send me a check for payments made after loan is paid off?

No, once outstanding loan balance is paid off, we reserve the rights to return all payments initiated externally, credit the amount to an associated share, or cancel those initiated on our online banking. It is your responsibility to stop all payments after loan is paid off.

How do I delete an external account I no longer use/have closed?

Once you are logged into online banking:

• Select Your Name on the top right
• Click on Settings
• Scroll down to the Accounts section
• Locate your account outside of TwinStar
• Hover over the dropdown arrow
• Click "Unlink" and confirm

The external account is now removed and will not show up as an option to transfer from or to. If you wish to transfer to or from this account again, it will need to be verified again, which can take up to three business days.

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:

• Select Your Name on the top right
• Click on Settings
• Scroll down to the Accounts section
• Locate your account outside of TwinStar
• Click the green Verify button
• Enter the two deposit amounts from the 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 locked and you will be required to contact us to have the attempts reset.

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?

The request will stay in the Verify External Account page until it is verified.

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.

Digital banking Transfers