What is the account verification process to setup another financial institution for transfers?
Before you can schedule transfers to a newly setup Financial Institution, you must verify that you have access to the destination account by providing us with identification data. The identification data consists of deposit and withdrawal transfers originated by the system for a random amount (less than $1.00). These identification transactions will be generated on our next processing date. After these verification transactions are posted at the receiving financial institution, select “Transfers”, “Non-UFCU Accounts,” and then “Manage Accounts” to verify the payee by entering the amount of the random transactions. Once verified, you may begin using this new financial institution. The financial institution will be removed from the system if it is not verified within 45 days.
