TRANSFERRING FUNDS
How can I can change or cancel a future-dated transfer?
For transfers initiated within the New Online Banking, future-dated (or recurring) transfers can be changed or cancelled by clicking on Pending Transfers within Online Banking. For all other future-dated (or recurring) transfers or transfers set up in the old system, you will need to contact our 24-Hour ExpressBank.
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If I make a transfer with Online Banking, when will it be available?
They will occur as same-day transfers as long as they are submitted prior to 10 p.m. CST on a business day, to be posted to the receiving account the same business day. Transfers occurring after 10 p.m. CST on a business day, or at any time on a weekend or holiday will post to the receiving account effective the next business day.
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What types of funds transfers can I do with Online Banking?
With Online Banking, you can conduct the following funds transfers among Bank of Arkansas online accounts:
- Checking to checking
- Checking to savings
- Checking to installment loan
- Savings to savings
- Savings to checking
- Line of credit to checking
- Line of credit to savings
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What is the cutoff time to transfer funds?
The cutoff time for transferring funds is 10:00 p.m. CST. Funds transferred after 10:00 p.m. CST or on weekends and holidays will be processed on the next business day.
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Are there limits on the number of transfers I can make?
Many accounts do not have a limit on the number of transfers you can make. However, many savings accounts, by Federal regulation, are not allowed more than six pre-authorized withdrawals or transfers per month (including no more than three checks). Refer to your rules for specific accounts to determine if your account is subject to these limitations.
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Can I make my funds transfers recurring?
Yes.
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What is the difference between an Online Banking funds transfer and an Online BillPay Payment?
An Online Banking funds transfer moves money between select Bank of Arkansas deposit and loan accounts. An Online BillPay Payment is similar to writing a check and payees may be Bank of Arkansas or third parties.
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