Account to Account Transfers
Easily move money between your F&M Bank accounts and your accounts at other banks.
Account to Account Transfers, or A2A Transfers, is a transfer of funds between your account with one financial institution and your account at another financial institution.
- Automate your savings with recurring transfers
- Securely transfer funds between business and personal accounts
- Send funds to your college student
How does it work?
F&M Bank’s online and mobile platform allows you to enroll external accounts with ease. Newly enrolled accounts will need to be verified before they can be used to transfer funds.
- Select Transfers from the main menu, or dashboard on F&M Mobile.
- Select +External account from the Transfers screen.
- Choose a situation and follow the corresponding steps.
- Your institution uses multifactor security questions (MFA) to authenticate users. When prompted for the security question, answer it and select Submit. OR
- Your institution uses two-factor authentication. When prompted for your password, enter it and select Submit.
- Complete the Account name, Routing no., Account no., and Account type fields on the Add external account screen.
- Select Submit.
- If the account is eligible to send inbound transfers to accounts in Banno Online, a message appears saying that two small deposits have been sent to the account and will arrive in 3-5 days.
- Select OK.
- Verify your deposit amounts after they appear in your external account(s) to activate external transfers.
- If the account is eligible to send inbound transfers to accounts in Banno Online, a message appears saying that two small deposits have been sent to the account and will arrive in 3-5 days.
Account to Account Transfer FAQs
- How much does it cost?
- Inbound transfers (money coming into your F&M Bank account) are free.
- Outbound transfers (money leaving your F&M Bank account) will incur a $1.00 charge per transfer.
- How much money can I transfer?
- Customers can transfer up to $6,000 into their F&M Bank account(s) per day.
- Outbound transfers are limited to $2,000 per day.
- When can I make transfers?
- The external transfer cutoff time is 3:00 PM. Any transfers submitted after 3:00 PM will be processed on the next business day.
- How much will the verification amounts be?
- These micro-deposits will range from $0.01 to $0.99.
- Clients will have 3 attempts to verify these amounts before needing to begin the process.
- Micro-deposits not verified within 31 days will no longer be eligible for verification and the customer will need to restart the process.
- These micro-deposits will range from $0.01 to $0.99.
- How is this different from Zelle?
- Zelle is a great platform for sending quick payments to another individual. Account to Account Transfer allows you to send funds between account you own at different financial institutions.
