We use the Automated Clearing House (ACH) secure network to send your funds to an account with another bank. The way money is sent is similar to a direct deposit or automatic payments. This is the same network used by the Federal Reserve to clear checks between financial institutions.

Here’s a brief summary on how external account transfers are processed:

1. You provide us with the transfer details and submit the request:
   • Amount to send
   • Account information where funds will come from
   • Account information the funds will go to
2. We submit the request through the ACH network.
3. The funds are sent to the financial institution based on the routing number given.
4. Then, that bank deposits the money using the account number provided.

See also: What is an external transfer? and How do I send an external transfer?