Funds Transfer

TRANSFER TYPES and TRANSACTION CUT OFF TIMES:

There are two types of transfers available via CentralNET, Immediate and Recurring.

Immediate Transfers:

• When you initiate an immediate transfer it takes effect immediately. Funds from immediate transfers completed before the daily cut off time of 7:00 pm EST will post to your account and be available as soon as the transfer is complete.
• Funds from immediate transfers completed after the daily cut off time of 7:00 pm EST may not post and be available until the next business day.

Recurring Transfers: Recurring transfers can be set up in four different ways.

• The first option is a one time future-dated transfer. For this type, you will need to specify the date you would like the it to occur, and it will occur only once on the specified future date.
• The second option is a transfer with no end date. For this type, you can choose the date you would like it to begin and the frequency you would like it to occur, for example weekly or monthly. It will occur indefinitely, at the frequency you have instructed, until you cancel the transfer instructions.
• The third option is a transfer that ends on a specific date. For this type you choose both the starting date, the ending date and the frequency. The transfer will occur according to your instructed frequency until the end of the transfer period.
• The forth option for recurring transfers is a fixed number of transfers. For this type, you choose the starting date, the frequency and the number of times you would like for this transfer to occur. It will occur according to your frequency instructions. Once it has completed the specified number of times it ends.
• Funds from recurring transfers completed before the daily cut off time of 7:00 pm EST will post to your account and be available as soon as the transfer is complete. Funds from immediate transfers completed after the daily cut off time of 7:00 pm EST may not post and be available until the next business day.

EXTERNAL TRANSFERS:

• External transfers to your accounts at other financial institutions are not available at this time. This is a feature that we hope to make available to CentralNET customers by the end of 2008.