Overview

You can establish an Automatic Funds Transfer (AFT) schedule that transfers funds from your checking account(s) to your savings account or from your checking/saving account(s) to your savings club account(s). 

The schedule can be daily, weekly, bi-weekly, monthly, or semi-annually, and you must choose a specific dollar amount for the transfers. (Note: You choose one dollar amount for all transfers, not a dollar amount for each one.)

An automatic funds transfer (AFT) cannot be changed.  Transfers must be deleted and a new transfer processed.

Set Up Procedure

Do not complete the transaction if the person requesting the automatic transfer is not an owner or authorized signer on the source account. 

An AFT can be set up to to transfer money into an account that does not have the same signers names.

To set up an automatic funds transfer between two accounts, do the following:

1. Obtain valid identification to verify that the client is an owner or authorized signer on the funding account by using one of the following:
   • Identification: CSC Phone Procedures
   • Clients in person

2. View signature card and resolution to verify ownership.

   1. In Xperience > SilverLake > Demand Deposits Menu > Demand Deposit Inquiry, search for client by TIN number, name, or account.
   2. Click OK.
   3. Click Related Functions > Document/Image Inquiry.
      

   4. Select the most recent signature card by date.

      
      

3. Obtain the account number for the receiving account from the authorized signer on the funding account. Note: The consumer account to receive the credit entry does not have to be titled the same as the funding account.
4. Complete an Automatic Transfer Authorization form. Do the following:
   1. Click Xperience > SilverLake > StreamLine Platform Menu > Recall Existing Accounts From Core.
   2. On the Inquiry / Website Selection page click OK.
   3. From the Application drop-down menu, choose DDA = Checking.
   4. In the Account Number field enter the account number.
   5. In the Platform Type field, click and choose *MO Miscellaneous Options. 
   6. Click OK.
   7. Click OK.
   8. On the StreamLine Account Maintenance screen, click OK. 
   9. On the StreamLine Account Maintenance - CHANGE screens, click OKtwice.
      • Note: If the Inquiry ID Code (IIC) field is blank, enter NEED CODE. See Inquiry Identification Code > Adding or Changing an IIC to update/add the code for the client.
   10. Mark the box for AFT Records
   11. Click OK.

   12. Line 10 Transfer Amount

       Enter the amount for the transfer.

   13. Line 20 First Transfer Date

       1. Enter the date the client would like the first transfer to occur.
       2. Click to access a calendar.

   14. Line 30 Transfer Day 

       Enter a specific day of the month (for example: 1, 8, 15, 29, 20, 31) for the transfer only if the client requests a specific day.        

   15. Line 50 Frequency

       
       Enter how often the AFT occurs.
       
       
       

       • Weekly - enter 7
         • Note: Line 60 requires a D for weekly.
       • Bi-weekly - enter 14
         • Note: Line 60 requires a D for bi-weekly
       • Monthly - enter 1
         • Note: Line 60 requires a M for monthly.

       
       If the client requests semi-monthly AFT transactions, skip to step p.

   16. Line 60 Frequency Code

       1. Click to choose D Day, M Month or S Semi-Monthly.
       2. Click Select.  

   17. Line 80 1st Day For Transfer (1st semi-monthly transfer)

       For semi-monthly transfers only, enter the date of the 1st monthly transfer.

   18. Line 90 1st Day For Transfer (2nd semi-monthly transfer)

       For semi-monthly transfers only, enter the date of 2nd monthly transfer.

   19. Line 110 Debit Account Number

       Enter the account number that the funds transfer will be debited from. This is where the funds are coming from.

   20. Line 200 Credit Account Number

       Enter the account number the funds transfer will be credited. This is where the funds will go.

5. Verify all information for accuracy. 
6. Click OK.
7. On the StreamLine New Account Entry use the arrow to access the drop- down menu and set the selections as follows: 
   • View/Print/Email Documents?  Y - Yes
   • Upload Account? Y - Yes
8. Click OK.
9. Use the arrow to access the drop-down menu. 
10. From the Submit to esign drop-down menu select B - Both eSign and Print. 
11. Click OK. A new web page opens for eSign. See eSign for more information.
12. For all signers on the funding account, obtain signatures on the Automatic Transfer Authorization form. 
13. Upload the automatic transfer to the system.
14. Place documents not submitted via eSign with the daily work for imaging following the Document Imaging procedures.