Move Money FAQ

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Move Money FAQ

How can I make a loan payment/transfer online?

We try to make paying your Bay Federal Credit Union loan as easy as possible! If you are paying from another Bay Federal account, you may do so simply by transferring money in BayFedOnline or the BayFed Mobile App:

In BayFedOnline:

Move the cursor over the Move Money tab and select Make a Transfer.
From the Move Money box select the From account and the To account.
Enter the amount to pay and select Make Transfer.
Select Confirm and your payment is complete.

In the BayFed Mobile App:

Select Transfers.
Choose which account you want to pay from and which loan you wish to pay.
Enter the amount and select Transfer.

If you are paying from another financial institution, login to BayFedOnline and select Loan Payments under the Move Money tab.

How do I do a cross-member transfer?

Transferring money between members in BayFedOnline and the BayFed Mobile App is easy. All you need to get started is the member's name and account number.

In BayFedOnline:

Under Move Money, select Make a Transfer.
After your choose which account the money is coming from, click into the To field and select Add a Recipient.
Add the information for the member you want to transfer money to and click Add Recipient.
Fill in the transfer amount, click Make transfer, and confirm the transaction information is correct.

In the BayFed Mobile App:

Select Transfers.
Choose your account that you wish to transfer from.
Select To and scroll down to Add a recipient.
Select the + sign and enter the first three characters of the recipient's last name and their account number. Then, Verify Recipient.
Enter a nickname for your recipient and select Add Recipient.
Enter the amount and select Transfer.
Confirm the transaction in the pop-up window to complete the transfer.

How can I send money internationally?

We currently do not provide international transfer options in BayFedOnline or the BayFed Mobile App; however, our friendly and knowledgeable branch staff can assist you with an international wire transfer at any of our convenient locations in Santa Cruz County.

How do I do an external transfer?

An external transfer is a great option for moving money from your Bay Federal account to an account you have at another financial institution. To make an external transfer, sign into BayFedOnline or the Mobile app, select External Transfers under the Move Money selection, and fill out the form.

You may also transfer money to another account using Popmoney, which can be found under the Move Money tab in BayFedOnline and in the menu of the BayFed Mobile App.

For more on External Transfers, see the FAQ below.

What is Popmoney and how do I set it up?

Popmoney is a payment service that simplifies sending and receiving money. Once you enroll through BayFedOnline or in the BayFed Mobile App, you only need the email or phone number of the recipient. In BayFedOnline, you may also send money with the account and routing numbers.

To set it up in BayFedOnline:

Under Move Money, choose Popmoney.
Follow the prompts to enroll.
Once you accept the terms and conditions, you're ready to send your payment!

To set it up in the BayFed Mobile App:

Navigate to Popmoney and select Enroll now.
Once you accept the terms and conditions, you're ready to send your payment!

Is Popmoney free?

There is no fee for Popmoney when using Standard Delivery. For Express Delivery, please refer to our Fee Schedule.

What is the cutoff time for Popmoney?

Popmoney payments initiated by 3:00 PM Pacific Time will be sent the same business day. Any payments after 3:00 PM will go out the following business day.

When does the recipient receive funds that I send using Popmoney?

This depends on the delivery option you select when you initiate the transaction.

Standard Delivery

The recipient will be notified of the payment on the send date and will receive the money in three business days if you are sending money to someone who has previously used Popmoney and turned on Automatic Deposit, or if you have provided your contact's bank account information (this option is only available in BayFedOnline).

If the recipient has neither previously used Popmoney nor turned on Automatic Deposit, they must provide their bank account information. Once they have done so, they will receive the funds within three business days.

Express Delivery

The recipient will be notified of the payment on the send date and will receive the money the next business day if you are sending money to someone who has used Popmoney and turned on Automatic Deposit or if you have provided your contact's bank account information.

If the recipient has not previously used Popmoney, or has not turned on Automatic Deposit, they must provide their bank account information by 10:00 PM Pacific Time in order to receive the funds the next business day.

Can I stop a Popmoney payment?

Yes, you may stop a payment any time provided the payment has not been deposited into the recipient's bank account.

To stop a payment, go to Activity, select the payment you would like to cancel, and select the Stop Payment button. You will not see the Stop Payment button when the option is no longer available

I sent money through Popmoney and it hasn't shown up. Where did it go?

Depending on the delivery option that you selected, the transfer could take up to five days.

Please remember that the recipient must provide their account information before any money can be transferred. We suggest contacting the recipient to ensure they are aware that they will need to provide their account information in order to receive the funds.

What is the difference between using email address, mobile number, or bank account information in Popmoney?

The information you provide on a contact determines how the payment will be processed and how the recipient will be notified.

Email address: Your contact will receive an email with instructions on how to direct the payment into their bank account.

Mobile phone: Your contact will receive a text message with instructions on how to direct the payment into their bank account. The contact may incur fee for the text message according to their mobile phone provider agreement.

Bank account information (routing and account number): The money will be directly deposited into your contact's bank account. You will also have the option to send the contact an email. Please note that the bank account information is not mandatory to send money to your contact.

External Transfers to or from Your Accounts at Other Financial Institutions

How does Bay Federal process external transfers? How long does it take to transfer funds?

External transfers are processed electronically through a secure Automated Clearing House (ACH).

Transfer times vary depending on time of day and the receiving institution. 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.

Can I transfer funds internationally?

No, international accounts are not eligible for this service.

Can I transfer funds into someone else's external account?

No, you may only conduct external transfers to or from a deposit account that you own at another financial institution.

How do I set up a one-time external 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.

Can I set up an external transfer today to process later?

Yes, you can schedule external transfers up to one year in advance.

Can I edit an external 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 external transfers?

Each external 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 an external transfer is complete?

We’ll email you when an external 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 external transfer was debited or credited as you requested.

How do I set up recurring external 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 external 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 external transfers?

You have these options in the Frequency menu for recurring transfers.

Frequency for Recurring External Transfers:

Once every month	Every month on the same date selected for the first send-on date.
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.
Every week	Every week on the same day of the week selected for the first transfer.
Every 2 weeks	Every other week on the same day of the week selected for the first transfer.
Every 2 months	Every other month on the same send-on date as the first transfer.
Every 3 months	Every three months on the same send-on date as the first transfer.
Every 6 months	Every six months on the same send-on date as the first transfer.
Every year	Once a year on the same send on date as the first transfer.

Can I change the number of remaining external transfers in a recurring plan?

No. You can change the amount and date of the recurring external 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.

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 much does it cost to transfer funds?

There are no Bay Federal fees for using external transfers. Your other financial institution may charge fees per their own fee schedules and account agreements.

For fees related to your Bay Federal accounts, refer to our Consumer Fee-Schedule.

What are the cutoff times for canceling today’s external 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 external transfers can be canceled before the Send date.
You can’t cancel an external 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.

Insufficient funds in the From account.
Exceeding the limit for a transfer amount.

How do I get details about an unsuccessful external transfer?

On the Activity page, select the Rejected link to see the details about your unsuccessful external transfer.

Jumbo Home Loans

Move Money FAQ

Move Money FAQ

How can I make a loan payment/transfer online?

How do I do a cross-member transfer?

How can I send money internationally?

How do I do an external transfer?

What is Popmoney and how do I set it up?

Is Popmoney free?

What is the cutoff time for Popmoney?

When does the recipient receive funds that I send using Popmoney?

Can I stop a Popmoney payment?

I sent money through Popmoney and it hasn't shown up. Where did it go?

What is the difference between using email address, mobile number, or bank account information in Popmoney?

External Transfers to or from Your Accounts at Other Financial Institutions

How does Bay Federal process external transfers? How long does it take to transfer funds?

Why are some of the accounts I’ve added missing from my Transfer Funds page?

Can I transfer funds internationally?

Can I transfer funds into someone else's external account?

How do I set up a one-time external transfer?

Can I set up an external transfer today to process later?

Can I edit an external transfer?

How do I check the status of my external transfers?

How will I know when an external transfer is complete?

How do I set up recurring external transfers?

What are my frequency options for recurring external transfers?

Can I change the number of remaining external transfers in a recurring plan?

Do the limits and/or fees from my accounts at other banks or credit unions apply in Transfer Funds?

How much does it cost to transfer funds?

What are the cutoff times for canceling today’s external transfers?

How do I cancel an external transfer?

Can I stop an external transfer after the send date?

What can make my external transfer unsuccessful?

How do I get details about an unsuccessful external transfer?