This service makes receiving money from your Credit Union even easier.
If you collect a loan OR withdraw money from your savings, we can issue either cash or a cheque and are now able to offer you a third option – Electronic Funds Transfer!
This is a system by which we can transfer funds DIRECTLY to, either your bank account, or another bank account of your choice, e.g. to pay a bill. The funds will be in your account, and available to you, within 2 working days* of the transaction so, if, for example, you request a savings withdrawal on a Monday, you can draw this money from your bank on Wednesday.
Advantages of EFT?
- There is no need to collect cash anymore which can be lost or stolen. This improves the safety of the transaction for Members.
- Where the transaction is too large for cash, we issue a cheque. This must then be brought to the bank, lodged, and can take at least 3 days to clear.
- With EFT your money will be available to you within 2 days.*
This great service is available from your CU now! Please call us or visit us for more details.
*Credit transfers to SEPA countries that do not use euro can take longer to process. This is out of our control and is up to the recipient bank. We cannot do transfers to non SEPA countries