Online Banking External Transfers
What is External Transfers in SIS Online Banking?
This is a service that allows you to transfer funds in another financial institution to and from your SIS bank account. This service is found in SIS Online Banking in the Move Money option.
How do Transfer Funds work?
SIS Bank processes Electronic Transfer Funds via the Automated Clearing House (ACH) secure network. This is the same network used by the Federal Reserve to clear checks between financial institutions. SIS submits a request to the ACH network to transfer funds between the accounts you’ve specified. ACH then uses its secure channels to complete the transaction. This procedure is very similar to the process employers use to create payroll direct deposits and financial institutions use to carry out automated payments for loans or mortgages.
Fees may apply to External Funds Transfers originated in SIS Online Banking. This information is found in the Move Money option. Online Banking is required. Registration and setup is required.