FAQs (data-driven)

Electronic Fund Transfers

• What is an Electronic Funds Transfer?

  An electronic funds transfer is a digital movement of money between accounts using services like debit cards, direct deposit, ACH payments, ATMs, online banking, or telephone banking.

• What is a preauthorized payment?

  A preauthorized payment is a recurring automatic payment made from a checking or savings account for bills or scheduled expenses.

• What is electronic check conversion?

  Electronic check conversion happens when a paper check is converted into an electronic funds transfer during a purchase or payment transactions.

• What transactions can be completed at an ATM?

  Members can make deposits, withdraw cash, transfer funds, make loan payments, and check account balances at eligible ATMs.

• Are debit card transactions protected from unauthorized use?

  Yes. Eligible unauthorized debit card transactions may have limited member liability when reported promptly according to account disclosure guidelines.