TransferNow

TransferNow is a secure method of transferring money between your Bank of Botetourt accounts and your accounts at other financial institutions from within your Online Banking.

Benefits Include:

  • More control over your money
  • Multiple transfer options: one-time, recurring and future-dated transfers
  • Standard and express delivery options
  • Works with over 15,000 participating financial institutions
  • Ease and convenience – simply login to your Online Banking to get started

Frequently Asked Questions:

Q: How do I enroll in TransferNow?
A: To begin using TransferNow, you must first be enrolled in online banking and authorize your external bank accounts. When you initiate a transfer, you will see what types of accounts are eligible.Using your desktop, log into your online banking account. Select “Transfers.”Select, “External Transfers”Set-up transfer authorization using either of the two verification methods: trial deposit verification or Real-Time account verification.To complete the transfer, account titles and names need to be exact from institution to institution.

Q: How quickly will my transferred funds appear in my account?
A: Bank of Botetourt offers two transfer options: Standard and Next-Day.
Standard transfers arrive in the receiving account within three to four business days.
Next-day transfers will arrive in the receiving account on the next business day.

Q: Is there a limit to the amount of money I can transfer?
A: Yes, there are transaction limits.
$5,000 per transaction
$5,000 in total transfers per day
$10,000 in total transfers per month

Q: What are the fees associated with TransferNow?
A: There is a fee according to the delivery speed you select and the number of transfers per month. 

Standard Delivery: Five free transfers per month; $1.00 charge for each thereafter. 

Next-Day Delivery: $4.00 per transfer


Q: How do I qualify for Next-Day delivery?
A:  

Next Day Inbound:

  • No Account Overdrafts for 90 days
  • Successfully completed “regular” accounts transfers that total $1,000
  • Completed the required “regular” account transfers within 30 days of requesting a next day transfer
  • Minimum available balance of $750

Next Day Outbound:

  • No account overdrafts for 90 days
  • Successfully completed “regular’ account transfers that total $500
  • Completed the required “regular” account transfers within 60 days of requesting a next day transfer
  • Minimum available balance of $750

*If customers meet the criteria and then have an overdraft, no longer meet the transfer requirement or have an available balance less than what is required, then the ability to request a Next Day transfer will be revoked automatically.

 

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