How do I make my initial deposit to my OnBank CD?
You will make an initial deposit to your OnBank CD by scheduling an electronic funds transfer from an existing account you have with us or another institution. During the application process, we will ask for information about the existing account from which you wish to transfer funds to open your new OnBank account. We will use this information to send two sets of offsetting deposits and withdrawals (less than $1.00 each) to that account. We will then ask you to verify the amounts of these transactions to confirm that you are authorized to transfer funds from this account. Once you verify the transactions, you can confirm and authorize your initial deposit.
