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TransferNow is a secure method of transferring money between your Bank of Botetourt accounts and your accounts at other financial institutions from within your Online Banking.
Benefits Include:
- More control over your money
- Multiple transfer options: one-time, recurring and future-dated transfers
- Standard and express delivery options
- Works with over 15,000 participating financial institutions
- Ease and convenience – simply login to your Online Banking to get started
Frequently Asked Questions
- How do I enroll in TransferNow?
To begin using TransferNow, you must first be enrolled in online banking and authorize your external bank accounts. When you initiate a transfer, you will see what types of accounts are eligible. Using your desktop, log into your online banking account. Select “Transfers.” Select, “External Transfers ”Set-up transfer authorization using either of the two verification methods: trial deposit verification or Real-Time account verification. To complete the transfer, account titles and names need to be exact from institution to institution.
- How quickly will my transferred funds appear in my account?
Bank of Botetourt offers two transfer options: Standard and Next-Day.
Standard transfers arrive in the receiving account within three to four business days.
Next-day transfers will arrive in the receiving account on the next business day.
- Is there a limit to the amount of money I can transfer?
Yes, there are transaction limits.
$5,000 per transaction
$5,000 in total transfers per day
$10,000 in total transfers per month
- What are the fees associated with TransferNow?
There is a fee according to the delivery speed you select and the number of transfers per month.
Standard Delivery: Five free transfers per month; $1.00 charge for each thereafter.
Next-Day Delivery: $4.00 per transfer
- How do I qualify for Next-Day delivery?
- Next Day Inbound:
- No Account Overdrafts for 90 days
- Successfully completed “regular” accounts transfers that total $1,000
- Completed the required “regular” account transfers within 30 days of requesting a next day transfer
- Minimum available balance of $750
- Next Day Outbound:
- No account overdrafts for 90 days
- Successfully completed “regular’ account transfers that total $500
- Completed the required “regular” account transfers within 60 days of requesting a next day transfer
- Minimum available balance of $750
*If customers meet the criteria and then have an overdraft, no longer meet the transfer requirement or have an available balance less than what is required, then the ability to request a Next Day transfer will be revoked automatically.
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