How do you transfer my money in Transfer Funds?
We send your transfers electronically through the secure Automated Clearing House (ACH) network.
How long does it take to transfer funds?
The delivery days are listed in the Fees and Delivery Info link on the Transfer Funds page. You’ll need to select a From and To account to see your delivery options and the link.
Why are some of the accounts I’ve added missing from my Transfer Funds page?
Only active and verified accounts show up in the From or To list on the Transfer Funds page. Check the status of your accounts on the Preferences page. If you see a Verify link, you’ll need to complete the verification process to activate the account.
If you have questions about the status of your account, email us at info@msdfcu.org, or call us at 2159963700.
Can I transfer funds between my accounts at Merck Sharp & Dohme Federal Credit Union?
No. Each transfer must be between your Merck Sharp & Dohme Federal Credit Union account and an account with another bank or credit union.
Can I transfer money between my accounts at other banks or credit unions?
No. Each transfer must be between your Merck Sharp & Dohme Federal Credit Union account and an account with another bank or credit union.
Can I transfer funds to my Merck Sharp & Dohme Federal Credit Union loan accounts?
Yes, you can transfer money to your Merck Sharp & Dohme Federal Credit Union loan accounts.
Can I transfer funds from my Merck Sharp & Dohme Federal Credit Union loan accounts to my accounts with other banks or credit unions?
No. You can’t transfer money from your Merck Sharp & Dohme Federal Credit Union loan account to an account at another bank or credit union.
Can I transfer funds to my loan accounts at my other banks or credit unions?
No, you can’t add loan accounts held at other banks or credit unions to this service.
Can I transfer funds internationally?
No, international accounts are not eligible for this service.
What is a one-time transfer?
A one-time transfer occurs only once.
How do I set up a one-time transfer?
On the Transfer Funds page, enter the transfer amount and select the From and To accounts. Use the Send date displayed or select a new date. The Frequency needs to be One Time Transfer. On the review page you can Confirm, Edit, or Cancel your transfer. After confirming, you can select the Print icon to print the details.
What are my delivery options?
Your delivery options are displayed on the Transfer Funds page after you enter an amount and select a From and To account. The delivery options show the completed transfer date and fees, if any.
Can I set up a transfer today to process later?
Yes, you can schedule transfers up to one year in advance.
What is a scheduled transfer?
A scheduled transfer is a future-dated transfer.
Can I edit a transfer?
Yes. Select the Edit link next to a pending transfer on the Activity page and save your changes. You can also edit recurring transfers this way. You can’t edit transfers that don’t have an Edit link.
How do I check the status of my transfers?
Each transfer has a status on the Activity page. Select the information icon next to the word Status in the top row of the table to see the definitions for each status.
How will I know when a transfer is complete?
We’ll email you when a transfer is complete. We’ll also display your transfers for the past 180 days on the Activity page. As always, you can check your account statement to verify that the transfer was debited or credited as you requested.
What is a recurring transfer?
A recurring transfer repeats for the same amount each time, at the frequency and duration that you specify.
How do I set up recurring transfers?
On the Transfer Funds page, enter the amount and select the From and To accounts. You’ll need to change today’s date to a future date.
From the Frequency menu, choose how often you want the transfers to be sent.
From the Duration menu, choose when you want the transfers to stop. Your choices are:
- Until I cancel.
- Up to a specified amount (be sure to provide the dollar amount in the field that displays under Duration).
- Up to a specified number of transfers (be sure to provide the total number of transfers in the field that displays under Duration).
- Until a specified date (be sure to provide the end date in the field that displays under Duration).
Select Review. After reviewing, you can Confirm, Edit, or Cancel your recurring transfer. After confirming, you can select the Print icon to print the details.
What are my frequency options for recurring transfers?
You have these options in the Frequency menu for recurring transfers:
Frequency | Details |
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Once every month | Every month on the same date selected for the first send-on date. |
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Every 15 days | On the same date as the first transfer plus 15 days. (i.e.: If the first transfer send-on date is 4/5, the next transfer dates will be 4/20, 5/5, and 5/20. |
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Every week | Every week on the same day of the week selected for the first transfer. |
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Every 2 weeks | Every other week on the same day of the week selected for the first transfer. |
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Every 2 months | Every other month on the same send-on date as the first transfer. |
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Every 3 months | Every three months on the same send-on date as the first transfer. |
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Every 6 months | Every six months on the same send-on date as the first transfer. |
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Every year | Once a year on the same send on date as the first transfer. |
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Can I change the number of remaining transfers in a recurring plan?
No. You can change the amount and date of the recurring transfers, but you won’t be able to change the number of transfers in the plan. You may want to cancel the recurring transfer plan and set up a new recurring plan with the number of transfers needed.
What are my transfer limits?
You can transfer up to your assigned dollar limits.
Do the limits and/or fees from my accounts at other banks or credit unions apply in Transfer Funds?
Yes. The transaction limits and/or fees used for your accounts with other banks and credit unions apply to the transfers you make in Transfer Funds. We recommend that you ask your bank or credit union if any restrictions or fees apply when using those accounts with your service.
How are limits calculated for the 30-day period in Transfer Funds?
When you schedule an immediate transfer, we calculate the amount of the transfers you’ve made within the past 30 days. Your remaining limit is the difference between your 30-day limit and the amount you’ve transferred in the past 30 days from
today.
When you schedule a future-dated transfer, we calculate the limit on the send date of the transfer. If the remaining limit is less than the transfer amount, we’ll cancel the transfer and send you an email.
How much does it cost to transfer funds?
Faster delivery speeds may be offered for a service fee. Fees, if any, will be displayed next to the delivery date. You can view more information by selecting the View Fees and Delivery link above the delivery options.
What are the cutoff times for canceling today’s transfers?
Cutoff times are listed in the Fees and Delivery Info link on the Transfer Funds page. You’ll need to select a From and To account to see your delivery options and the link.
You can cancel today’s transfers from the Activity page before the cutoff time.
- Future-dated transfers can be canceled before the Send date.
- You can’t cancel a transfer that’s in process. If you create a new transfer to move the money back, please check to see if you’ll be charged fees.
How do I cancel a transfer?
Find the transfer on the Activity page and expand it to see the details and Cancel button. For recurring transfers, you’ll be given the option to cancel just the next recurring transfer, or all the remaining transfers in the plan.
What can make my transfer unsuccessful?
A transfer will be unsuccessful (returned) if it can’t be withdrawn from or deposited to an account. We’ll email you if a transfer is unsuccessful, and the details will be available on the Activity page.
Common reasons for unsuccessful transfers include:
- Insufficient funds in the From account.
- Exceeding the limit for a transfer amount.
How do I get details about an unsuccessful transfer?
On the Activity page, select the Rejected link to see the details about your unsuccessful transfer.
Can I use this service to transfer money between accounts at the same financial institution?
No.
If my account gets disqualified for High Limit Transfers and my account gets suspended, do all my other accounts get suspended?
No, your other accounts and products will remain operational.
How do I check the status of a recurring transfer?
On the Activity page, select the status link to see the details about your recurring transfer.
What do the different status designations for Recurring Transfers mean?
- Pending: There are Recurring Transfers remaining.
- Complete: All the Recurring Transfers have been executed.
- Canceled: User has canceled the Recurring Transfer
How do I cancel a Recurring Transfer?
Find the transfer on the Activity page and expand it to see the details and Cancel Transfer button. You’ll be given the option to cancel all the remaining transfers in the plan, or
just cancel the next one.
How long is the history of transfer transactions?
Six months.