Process an Account Transfer

In this video, you'll learn how to process an account transfer.

Access the Transfers Management workspace from the Payments & Transfers menu. Click the "Add Transfer" link. Select the "Transfer Template" option to use a template.

Select the "Transfer Type" option to create a free form transfer. For our example, we'll select a "Single Transfer", then click "Continue". 

Required fields will be noted with a red asterisk.

Choose the "From Account" and the "To Account" using the dropdowns.

Enter the "Transfer Date". The system will always default to today's date. You can choose a different date by typing over the date or clicking the "Calendar" icon and selecting one.

Enter the amount of the transfer. If needed, you can also enter a transfer reference and comments.

You can choose to make the transfer a repeating payment by selecting the "Make Recurring" option.

When making a recurring transfer, set up the recurring pattern by selecting how often the transfer will repeat, when the transfer will be made, and when the transfer will stop recurring.

You can adjust the reoccurrence for non-business days as well.

You can also save this transfer as a template for future use by selecting the checkbox and entering a template code and description.

Depending on your company's setup, you may also restrict a template—giving only you or authorized users access to use it. Choose "Restrict" to use this feature.

When the details of your transfer have been entered, select "Submit".
You'll see the confirmation appear on the Transfers widget with details of the transfer, and you'll see the transfer you just created in the list view.

If you have permissions to approve your own transfers, you'll see the "Approve" option in the Actions menu.

If you do not have approve own permissions, another user with the proper permissions will have to approve it before the transfer can be completed.

Thanks for watching this video on how to process an account transfer.

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