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Create A New Transfer

Below are the step-by-step instructions that can assist you to process a funds transfer into or out of your personal saving account.

 

 

 

 

You can make a one-time transfer or set up recurring transfers – the choice is yours. You may make up to nine transfers out of your High Yield Savings account during any monthly statement cycle. It may take up to two business days before transfers appear at your external bank account. Transfers will not be processed on weekends or holidays.

 

 

 

 

  Step 1: Set Up Your Transfer

 

Log in to Personal Savings and click Transfers from the navigation and Create a New Transfer. You will be asked for the following information:

 

  • TransferAmount
  • From and To Account information (drop-down menu)
  • Requested Start Date: if scheduled date is a non-business day the transfer will occur on the next business day
  • Frequency (defaults to 'one time'): if set to a frequency of every one or two weeks, these will occur on the same day of the week; less frequent options will repeat on the same date of the month
  • End Date: if not set for recurring transfers, the transfer will recur indefinitely

 

 

 

 

Step 1

 

 

  Step 2: Verify Your Transfer

 

You will review your transfer summary and have an opportunity to edit it prior to submitting.

 

Please note, if you withdraw your full balance and do not close your account, accrued interest from your current statement cycle may be posted after your transfer is completed and remain in your account until withdrawn separately.

 

 

 

 

Step 2

 

 

  Step 3: Confirm Your Transfer

 

Your transfer is all set, and will process on the date(s) provided in the on-screen confirmation. You may print this page for your records. There’s nothing more you need to do – we’ll take it from here.

 

 

 

 

Step 3

 

 

Important Reminder

 

Your electronic transfer request will leave our bank and be reflected in your Personal Savings balance on the date listed. However, the external banks generally take 1-3 days to reflect the transfer on their system. Please see FAQs below for more specific timing on the movement of your funds. On the day of processing, transfers are subject to the availability of sufficient funds and compliance of the nine withdrawals per statement cycle limit.

 

 

 

Accounts offered by American

Express National Bank. Member FDIC. Each depositor is insured to at least $250,000.

Learn More from FDIC.gov

*The Annual Percentage Yield (APY) as advertised is accurate as of . Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.

 

For a CD account, rates are subject to change at any time without notice before the account is opened. Your rate will be fixed on the business day‡ we receive your completed application, provided we receive your deposit within 30 days after your application is approved. After a CD is opened, additional deposits to the account are not permitted. Early CD withdrawals may be subject to significant penalties which could cause you to lose some of your principal. Please see the Deposit Account Agreement for additional terms and conditions and Truth-in-Savings disclosures.

 

**The national average APY is accurate as of October 26, 2020, as published in the FDIC's Weekly National Rates and Rate Caps; average rate used is for deposits under $100,000.

 

†You may make up to nine (9) withdrawals or transfers out of your High Yield Savings Account during a monthly statement cycle. Read More in FAQs.

 

‡For purposes of transferring funds, business days are Monday through Friday, excluding holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin to be processed on the next business day.

 

♢Calculations are estimates of expected interest earned. Actual results may vary, based on various factors such as leap years, timing of deposits, rounding, and variation in interest rates. The first recurring deposit is assumed to begin in the second period after any initial deposit.