Transfer your funds from one financial institution to another.
Bank-to-Bank Transfers are a convenient way to transfer funds between your accounts at Bank Mutual and your accounts at another financial institution. They are a feature of Online Banking. Once you've enrolled in Bank-to-Bank Transfers and registered your account, you can make one time or recurring transfers back and forth.
The transfer will be done in two steps – first the money will be withdrawn from the funding account and then the money will be deposited in the receiving account. Transfers will be complete 4 - 6 business days after the scheduled date. To make future transfers, you will see a "List of External Transfer Accounts for - Your Name" under your list of accounts in Online Banking.
- To set up Bank-to-Bank Transfers, log in to your Bank Mutual Online Banking account. After successfully logging in, click on your Bank Mutual checking account. Once on your account screen, click on the navigation near the top labeled "Bank to Bank" transfers.
- This will open the Bank-to-Bank Transfer window and take you to the introduction page. Click on the "Manage Accounts" link in the upper right hand corner. Once on the "Manage Accounts" screen, click on the "Add New Account" link to set up a new external account.
- You will be asked for your other financial institution's ABA routing number and your account number at that institution, account type, name on the account, and to create an account nickname (such as ABC Bank Checking).
- After the account is added, three small ACH transactions will be sent to your external account. Check for these amounts in your external account history after 2-3 business days. Return to "Manage Accounts" and click on “confirm” to input these amounts. The amounts of these transactions will be used to confirm your ownership of the account.
- Once account ownership has been verified, you can do one time or recurring transfers. One of the accounts selected must be with Bank Mutual. Select "Schedule Transfer," choose the accounts, date, and amount, and you're done!
Bank-to-Bank Transfers used to deposit funds into your Bank Mutual account are free. There is a transaction fee for withdrawals from some Bank Mutual accounts.