How are dates determined for recurring transfers?

The settlement date for each recurring transfer is based on the frequency and first date you specify when setting up the recurring transfer.

Notes: For ACH transfers, the amount is memo-posted and your account balance is updated two business days before the settlement date. When you initiate an ACH credit, your account balance is updated on the settlement date. Other future and recurring transfers are submitted each day at 4 a.m. CST on the specified date. If the specified transfer date is not a business day, the transfer will be processed on the previous business day.

Frequency	When each transfer will occur...
Weekly	On the same day of the week as the first transfer date. For example, if the first transfer is set up for a Monday, the transaction will take place every Monday for the number of occurrences specified. If Monday is not a business day, the recurring transfer will take place on the previous Friday.
Every two weeks	On the same day of the week as the first transfer date. For example, if the first transfer is set up for a Monday, the transaction will take place every other Monday for the number of occurrences specified.
Twice monthly	The same number of days after the 1st or 15th of the month as the first transfer date. For example, if the first transfer date is set up for the 3rd (2 days after the 1st), the next transfer will occur on the 17th (2 days after the 15th). Or, if the first transfer date is set up for the 16th (1 day after the 15th), the next transfer will occur on the 2nd of the next month (1 day after the 1st). If the next transfer date falls after the last business day of the month, then the last business day of the month will be used.
Every Month	On the same date of the month as the first transfer date. For example, if the first transfer is set up for the 3rd, the transaction will take place on the 3rd of every month for the number of occurrences specified.
Every Two Months	On the same date of the month as the first transfer date, every other month. For example, if the first transfer is set up for the 3rd, the transaction will take place on the 3rd day of every other month for the number of occurrences specified.
Every Three Months	On the same date of the month as the first transfer date, every third month. For example, if the first transfer is set up for the 3rd, the transaction will take place on the 3rd day of every third month for the number of occurrences specified.
Every Four Months	On the same date of the month as the first transfer date, every fourth month. For example, if the first transfer is set up for the 3rd, the transaction will take place on the 3rd day of every fourth month for the number of occurrences specified.
Twice a year	On the same date of the month as the first transfer date, every six months. For example, if the first transfer is set up for March 3rd, the next transaction will take place on September 3rd, and every six months for the number of occurrences specified.
Once a year	On the same date of each year as the first transfer date. For example, if the first transfer is set up for May 1st, the transaction will take place on May 1st the next year and each year for the number of occurrences specified.
Only once	Only once on the transfer date specified. Note that the number of occurrences must be 1 if the selected frequency is Only Once.

Related FAQs

Will I get an alert on transfer status?

How do weekends and holidays affect my transfer date?