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, select External Transfers under the Move Money tab, 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.

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.