OLB Transfers

How much can I transfer from my CD?

You may transfer up to your available interest from your CD.

How much can I transfer to or from a Non-Webster account?

With external transfers, you can transfer up to $10,000 per day between your eligible Webster and non-Webster accounts.

How long will external transfers take to process?

We will electronically process your request with the financial institution through a secure network called the Automated Clearing House (ACH) system. Although we cannot guarantee when your financial institution will post these transactions, they are normally processed within 2-3 business days.

What Non-Webster accounts can I transfer from or to?

With external transfers, you can initiate transfers from or to your eligible Webster checking, savings and certain types of loan accounts. Transfers involving your non-Webster accounts must be to or from a checking or savings account you hold at another financial institution.

How do external transfers work?

First, you must add the non-Webster accounts you would like to transfer between, to your online profile. This is accomplished by providing the Routing and Transit number, account number and type of account you hold at another financial institution. We will then process 2 small dollar transactions to authenticate your account. This process usually takes 2-3 business days. Once your account is authenticated, it is available for external transfers.

Can I transfer money between Webster and other financial institutions?

Yes, Webster offers external transfers capability. You can establish non-Webster accounts to easily and conveniently move money between your Webster accounts and accounts you hold at other financial institutions.

Can I stop or change a transfer that I already set up?

Immediate transfers cannot be stopped or changed because they are processed once you receive your confirmation. However, any transfers that you set up to be processed in the future, whether one transfer or a series of recurring transfers, are stored as Pending Transfers and can be stopped or changed at any time before 7:00 pm on the next transfer processing date. You can make changes or delete any Pending Transfer by selecting Pending Transfers from the Transfers menu tab.

When are transfers processed?

Transfers set up before 7:00 p.m. on business days are processed immediately, unless you specify that you want the transfer to occur on a future date or on a recurring frequency. Future and recurring transfers will be processed after 7:00 pm on the scheduled business day.

Are there limits to the number of transfers I can make?

The number of transfers allowed per statement cycle for savings and money market accounts is limited. For more details, please refer to your Deposit Account Disclosure for Consumer Accounts.

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