How to Transfer Funds Between Accounts | Rapid & Standard Transfers
The best banks give you the tools and resources you need to manage your funds without requiring a middleman for simple financial tasks. One of the easiest ways we put you in control? Moving money between your accounts – whether those accounts are with First National Bank or not.
We offer two features directly within our online banking application that allow you to remain in control of your finances: Rapid Transfers and Standard Transfers. Together, these two features pair perfectly to allow fund transfers so you can easily pay bills, add to your savings, or budget your sinking funds.
With Rapid Transfers, you’re able to quickly move money back and forth from external bank accounts and your First National Bank accounts, through linking your external bank debit card in your Anywhere app. Standard Transfers allows easy, free-of-charge movement between your First National Bank accounts.
In order for you to make the most of these digital banking tools, available in our Anywhere digital platform, you need to understand how to use them.
Rapid Transfers 101
What is Rapid Transfers?
Rapid Transfers is a feature that customers can use to transfer funds between their First National Bank accounts and accounts at other financial institutions. Because this feature uses card rails instead of ACH, the funds are available in less than a few minutes rather than the next business day.
What do I need to set up in order to use Rapid Transfers?
All that’s required to use Rapid Transfers is a First National Bank account and an external bank account with a debit card. The name on your debit card must match the name associated with your First National Bank account.
Is there a fee associated with the Rapid Transfers feature?
Yes, there is a small fee imposed by the third-party that provides the Rapid Transfers banking tool.
- Push to Card (sending funds to other financial institutions): 1.75% with a $0.50 minimum fee
- Pull from Card (receiving funds into your First National Bank account): 0.75% with a $0.50 minimum fee
Is Rapid Transfers available for business customers?
Yes. Rapid Transfers is available for both individual customers as well as business customers.
Can I use Rapid Transfers to send money to another person?
Rapid Transfers is what we call a “me-to-me” transfer feature, so funds can only be transferred between accounts under the same name.
Is Rapid Transfers a secure way to transfer money?
Rapid Transfers is a low-risk and secure feature due to the account name inquiry. If the name on your First National Bank account and your external debit card do not match, the enrollment will fail. The enrollment also requires your card’s CVV code and two-factor authentication.
Is there a waiting period for funds pulled in via Rapid Transfers?
Funds transferred via Rapid Transfers will be available within a few minutes. There’s no waiting period for the funds to become available.
Can I use Rapid Transfers to make loan payments on a loan through First National Bank?
At this time, customers cannot pull funds from an external debit card directly to a loan with First National Bank. Customers can only push or pull funds from a First National Bank checking or savings account.
Standard Transfers 101
What is Standard Transfers?
Standard Transfers is a feature that customers can use to transfer funds between their First National Bank accounts. This can be used to transfer to and from checking and savings accounts.
Do I need to set up this feature?
No. This feature is available in our online banking platform and no additional setup is needed.
Is there a fee associated with Standard Transfers?
There is no fee for using Standard Transfers.
Is there a waiting period for funds moved using Standard Transfers?
There is no waiting period associated with Standard Transfers. Funds will be available as soon as the transfer is complete.
What accounts can I use with Standard Transfers?
If the account is available for digital management in your Anywhere app, it is available for you to transfer funds with Standard Transfers.
You should be the one with the most access to your funds. With two digital transfer options directly embedded in our Anywhere digital suite, you’re able to transfer funds between your accounts all from the palm of your hand.
Learn how to use Rapid Transfers: