Setting Up Member-To-Member Transfers

Need to send money from your account to another CoastHills Credit Union Member? Maybe you’re transferring funds to your child or a relative. Or paying the babysitter. If the recipient is another CoastHills member, and you’re not a joint signer on their account, move money quickly and securely with Member-to-Member Transfers.

Here’s how to get started:

There are a couple of ways you can add new members to list of transfer options.

Step 1 — From a web browser, click on the Move Money dropdown and select Member To Member Transfers. You may also simply select “Make a transfer” from the Move Money dropdown menu. Adding payees from our mobile app is also a snap. Just open the app and tap on Transfers at the bottom of the screen.

From there, the process on both platforms is the same.

Step 2 — The “From” dropdown selects which of your own accounts you would like to send money from. Click or tap on the “To” dropdown and scroll to the bottom to view the option to “Add a recipient.” On the next screen you will need very specific information about the other member’s account to authorize the transfer.

Step 3 — There are four fields you will have to specify to add your recipient as a transfer option. Check with your recipient in advance to make sure you have all the correct information.  

 

• First 3 characters of last name. This will be the first three letters of the primary account-holder’s last name. Be certain you have information for the primary account-holder rather than a joint account-holder as their names may be different.

• Account type. Would you like your transfer to go into the other member’s checking, savings or Money Market? For checking, select “Share Draft.” For savings, select “Regular Share.”

• Share number. This number can be unique to each member’s account. You may see your own share numbers in the “Accounts” section of online banking. They are at the end of each account’s name. Savings usually start with 00. Checking accounts are typically 80. But that number can depend on how many checking or savings account each member has and which account your recipient would like you to transfer to. They may have two checking accounts for instance, 80 and 81.

• Account Number. This is the unique series of numbers used to identify a member’s account. The length may vary depending on how long the member has been with the Credit Union. There is no need to add any zeros before the number.

Click the “Verify Recipient” button to submit your information. The system will automatically display the name of the recipient's account. If you plan to set up direct transfer for another of that same members shares or drafts, you'll want to modify the name before finalizing the verification. For example, change John Smith to John Smith's Checking. You will not be able to add two transfers with the same name. 

Step 4 — Once your recipient has been verified, they will be visible under your transfer options in the “To” dropdown on the Move Money or Transfers page. Return to that page by following the same instructions as in Step 1.

Step 5 — Click or tap on the “To” dropdown once again, and this time when you scroll down, select the name of the member you just added, specify a date and enter an amount. From this point on, you can send money to your recipient just as if you were transferring money from one of your own accounts to any of your own deposit or loan accounts.

To add more recipients, just follow the same steps as above, and watch them appear in your transfer options.

NOTE: All member-to-member transfers using this process must be completed manually at this time.