What types of transfers does Octave Trust Bank offer?
We offer three types of transfers:
- Transfer funds safely between your Octave Trust Bank accounts – available in Online Banking and Octave Trust Bank Mobile App.
- Member to Member Transfers: Transfer funds from your Octave Trust Bank deposit account to another member’s Octave Trust Bank deposit account – available in Online Banking and Octave Trust Bank Mobile App.
- External Transfers: Transfer from your Octave Trust Bank deposit account to a deposit account at another financial institution; Transfer to your Octave Trust Bank loan or deposit account from another financial institution.
What is the minimum amount I can transfer between accounts?
The minimum transfer amount is $0.01 for internal or external transfers.
How do I add an external account?
Using Online Banking or Octave Trust Bank Mobile App, click on "Transfers" menu widget. Select the “Classic Transfers” tab. Click the link to “add an external account.” Input external account information. Click Save. Complete immediate security identity verification. Additionally, trial deposits will be made to external account. Validation of external account trail deposit amounts are required to complete adding of external account. External account trail deposits typically take two business days.
How much can I transfer in a day?
- Internal Transfers – no limit
- External Transfers – maximum of £2,000.00 per transfer, up to £2,000.00 per day, and £5,000.00 per calendar month.
Is there a fee to make a transfer?
There is no fee for internal and member-to-member transfers.
There is no fee for inbound external transfers to Octave Trust Bank.
Outbound external transfers from your Octave Trust Bank account to another financial institution are £2.50 per transfer.
How do I transfer funds to an external account?
Using Online Banking or Mobile app, click on "Transfers" menu widget. Use the “Quick Transfers” tab and select the From account, select amount, and select To account. Click “Submit Transfer”.
How do I transfer funds to another Octave Trust Bank member?
You can transfer funds to another member from Online or Mobile app. From the widget menu, select "Transfers," then click "Classic Transfers" tab. Select “Transfer to another Octave Trust Bank member” link. Input Last Name and Account Number. Click "Save." Complete immediate security identity verification.
What types of external transfers are prohibited?
International transfers, business account transfers, and joint owner transfers are prohibited.
How long does an external transfer take to process?
External transfers can be processed in up to two (2) business days.
Does Octave Trust Bank offer Wire Transfers?
Octave Trust Bank offers domestic wire transfer which must be done at a Octave Trust Bank branch location; online wire transfers are not available.