How do external account transfers work?

U.S. 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 within the United States.

U.S. Bank 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 for direct payroll deposits and that financial institutions use for automated payments on loans and mortgages.

External Transfers can be used in this way to send money to your checking or savings account at another financial institution.

View Send Money information for sending money to an account belonging to another individual. Funds being transferred to an International bank or customer must be made through a wire transfer.