First Dakota  
 
 
  Bank-to-Bank Transfers.
Allowing you to transfer funds between banks

Bank-to-Bank Transfers allows you to transfer funds between your accounts at First Dakota and accounts at other financial institutions using Internet Banking. It is simple, easy and free. You can set up transfers for one-time, weekly, bi-weekly, semi-monthly and monthly. Our daily cut-off time for processing Bank-to-Bank transfers is 2:00 pm CST.

How do I sign up?

Enrollment is easy. Simply login to Internet Banking, click on the Bank-to-Bank Transfer link and follow these instructions.

  1. A message will appear asking you to add new bank-to-bank transfer external account, click on enroll.
  2. The bank-to-bank transfer service agreement will display. Please read and click on “I agree”.
  3. We will need the following details for the account(s) held at the other financial institution.
    • Account Name – The name of the owner(s) on the external account.
    • Financial Institution Name – The full name of the financial institution the external account is held at.
    • Routing Number – The 9 digit bank routing number of the external financial institution.
    • Account Number – The external account number.
    • Account Type – Please select if it is a checking or savings account that you are enrolling.
  4. When all the information has been entered, click on “submit”.
  5. Within three (3) business days, First Dakota will make two (2) small deposits to your external account.
  6. Please access your external account and record the amounts sent in Internet Banking for the verification process. This process needs to be completed within 30 days, or the account will be deleted.
  7. When the amounts are entered correctly, the status of the account will change to “Pending Approval”.
  8. Within 24 –48 hours, First Dakota will approve, the status will then change to “Verified”.
To protect you from fraud

First Dakota has implemented the following restrictions:

  • We allow you to add up to three (3) external accounts (i.e. accounts held at other financial institutions)
  • We allow up to three (3) inbound transfers per day with no dollar amount limit. However, the funds MUST be deposited into a savings account first. This allows us to place a 5-day hold on all incoming transfers.
  • We allow up to two (2) outbound transfers per day with a total daily dollar limit of $2,000.
How to enter a Bank-to-Bank Transfer
  1. To enter a transfer click on the Bank-to-Bank transfer link in Internet Banking.
  2. Click on the “set up” from the View dropdown box.
  3. Complete the following fields:
    • Transfer funds from – from the dropdown box select the account you want the funds to come out of. If a First Dakota account is selected it will display the available balance you may transfer. Clicking the available balance link will show how the available balance is calculated.
    • Transfer funds to – from the dropdown box select the account you want the funds to be transferred into. **Note – funds being transferred into First Dakota are required to post to a Savings account and will have a five (5) day hold on the funds.
    • Amount – enter the dollars in the first box and the cents in the second box.
    • Frequency – you can establish one-time or reoccurring transfers. The frequency options are: one-time, weekly, bi-weekly, monthly, & semi-monthly. **Note - If a reoccurring frequency is selected, additional fields will be displayed to complete (i.e. day of the week or month, start date, and end date).
    • Date – enter the date the transfer is to take place. You can also click on the grey calendar icon to select your date. **Remember transfers to another financial institution need to be entered by 2:00 PM for next day posting**
    • Memo – this field is optional. Anything entered here will display in your First Dakota Internet Banking transaction listing and on your monthly bank statement.
  4. Click submit.
  5. When the transfer is successful, you will receive a confirmation message with a confirmation number. If you receive an error message after clicking on submit, the transfer did not happen and you will need to re-enter the transfer information. Examples of why an error occurred are: Internet connection goes down or times out, First Dakota is processing end-of-day, date entered in wrong format, etc.
Descriptions of Bank-to-Bank Transfer Functions

All Bank-to-Bank Transfer functions are located in the “View” dropdown box found in the upper right hand corner of the Bank-to-Bank Transfer screen.

  • Add new external account – click on “add account” from the View dropdown box. You will then follow the Enrollment procedures.
  • View enrolled accounts – click on “enrolled accounts” from the View dropdown box. Clicking on “view” will allow you to view the following information for your enrolled external accounts: account name, financial institution name, routing number, last four (4) digits of the account number, and status of the account.
  • Edit enrolled accounts - click on “enrolled accounts” from the View dropdown box. Clicking on “edit” will allow you to change the account name only. NOTE: If you need to change additional information about the enrolled account, you will need to delete the account and re-enroll.
  • Delete enrolled accounts - click on “enrolled accounts” from the View dropdown box. Clicking on “delete” will delete the external account from your list of enrolled accounts. **BE VERY CAREFUL WHEN DELETING ACCOUNTS** There is no confirmation screen when delete is selected. If you accidentally click on delete you will need to complete the enrollment process again to set the account back up.
  • View history of completed transfers - click on “history” from the View dropdown box. Transfer history can be viewed for the past 7 days, 15 days, 30 days, or All (“All” will display all transfers made for the past 90 days). There is only 90 days of history available to view.
  • View pending transfers - click on “pending” from the View dropdown box. You can view, edit, or delete a transfer before the 2:00 PM cutoff time.
  • Add new transfer – click on “set up new” from the View dropdown box. This will present the transfer set up screen to enter a new transfer.


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