External Transfers | First Utah Bank

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New External Transfers

It’s time for you to change the way you move money from one account to another. Because, check transfers are so 1990.

Introducing External Transfers.

Now you can easily transfer funds to and from your accounts at other financial institutions.

External Transfer is a new Internet Banking feature that allows you to send and receive money to and from your accounts at First Utah Bank and external accounts owned by you at other financial institutions. With no checks, cash deposits or branch visits required, External transfer is a convenient way to move your money when and where you need it.

  • More control over your money
  • An expansive network – make transactions between your First Utah Bank accounts and thousands of financial institutions throughout the United States via the ACH network. We enable you to take advantage of a unified, secure and easy-to-use me-to-me transfer experience
  • Make one-time, recurring or even future-dated transfers

Terms and Conditions

Easy and convenient

Transfer funds to and from checking, savings and money market accounts from thousands of financial institutions nationwide. Once your external accounts are set up in our system, just select them the same way you would select accounts with us.

Fully secure

Your transfers move over secure electronic networks, making it the most secure way to to transfer funds.

Frequently Asked Questions

Who is eligible to participate in the External Transfer functionality?

External Transfers are specifically designed for Internet Banking. Funds can only be transferred between US accounts with the same ownership (me-to-me).

What types of accounts are eligible for External Transfer activity?

Checking, savings, money market checking and money market savings accounts. Loan accounts at First Utah Bank can be credited from external accounts but loan advances to external deposit accounts are not permitted. In addition, limited brokerage account support is offered for external accounts.

Can I transfer money to and from external accounts owned by me?

Yes. Once you’ve successfully enrolled one or more external accounts in External Transfers, you can easily transfer money either to or from the account(s). You may have up to five External Accounts enrolled at a time. Once you are logged in to Internet Banking, click on Transfers and then select the option titled External Account Transfer.

Is External Transfer functionality available in Mobile Banking?

Yes. Once you are logged in to Mobile Banking, click on Transfers and then select make an external transfer.

How do I set up external accounts?

After you accept the Terms and Conditions for using the External Transfer feature, your external accounts can be enrolled in two ways:

  • Immediately – by providing your login information from the external financial institution to verify your credentials for access to those account(s).
  • Test Deposits – sending and verifying test deposits to and from the external financial institution to ensure a successful connection. This can take between 3 – 5 business days to complete.
How long does it take to process an account transfer?

Funds are typically deposited in your receiving account on the transfer date. The External Transfer calendar shows the earliest available date you can make a transfer. Expect transfers to be completed between 2 – 3 business days.

Are there any fees associated with External Transfer?

There are no fees for a standard scheduled incoming or outgoing transfer.

What should I do if I transfer money to the wrong account?

If the transfer has not been processed, you can cancel or edit the transfer if it is in a pending status. Once the transfer is successfully cancelled, schedule a new transfer to the correct account. If you have a problem with a transfer that has been processed, please reach out to us immediately.

What is a repeating transfer?

This is a recurring, automatic transfer of a specified amount of money from one account to another based on a schedule that you set up. For example, you may want to set up a repeating transfer to automatically transfer $500 from an external bank account to a First Utah Bank checking account at the end of each month. When you set up a transfer schedule, the transfers are automatically scheduled for the duration you choose or until you cancel the repeating transfer. If a scheduled transfer date falls on a weekend or holiday, that individual transfer will default to the previous business day.