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How can I use Private Passport to move money?
When you need to move money, Private Passport offers
multiple ways to do so, either between your Northern Trust accounts or
outside of Northern Trust. Use the Transfer page in Private Passport to move money.
There is no limit on the number of transfers you can
make nor the amount you can transfer (provided you have available funds
in your account). You can submit a transfer for immediate processing,
schedule a transfer in advance, or set up regularly scheduled transfers
to recur at the frequency you choose: weekly, monthly, etc.
For a quick reference, see the Private Passport Getting
Started guide, Moving
Money.
Transfer between Northern Trust accounts
- Make
a loan payment
Make a payment on a Northern Trust loan account from a Northern Trust
banking deposit account. For more information, see Making
a loan payment.
- Transfer between
banking deposit accounts
Transfer money between Northern Trust banking deposit (checking, savings,
and money market) accounts. For more information, see Transferring money between Northern Trust banking deposit
accounts.
- Take a loan advance
Take an advance on a Northern Trust credit line account, moving the
money into a Northern Trust banking deposit account. For more information,
see Take an advance.
Buy, sell, or exchange Northern Funds
- Buy additional shares of a Northern
Fund by transferring money from a Northern Trust banking deposit account.
For more information, see Purchasing Northern Fund.
- Redeem Northern Funds shares with proceeds transferred
to a Northern Trust banking deposit account. For more information, see
Redeeming
a Northern Fund.
- Exchange shares between two Northern Funds accounts,
including IRAs. For more information, see Exchanging Northern Funds shares.
Transfer to and from other institutions
You can use Private Passport to move money to or from
other institutions. Simply set up authorization for the accounts and types
of transfers you want to make outside of Northern Trust. To do so, complete
and mail the Request for Electronic Transfer Instructions form, available
from Account Services within Private Passport.
- Wire
transfers
Wire money the same day from your Northern Trust banking deposit account
to another financial institution. For more information, see Wire money to another financial institution.
Note: There is no fee for wire transfers initiated using
Private Passport.
- Future-dated transfers
(ACH)
Request a future-dated (ACH) transfer to or from your Northern Trust
banking deposit account and an account at another institution. There is
no charge for ACH transfers. For more information, see Transferring money to or from another financial institution
via ACH.
Other ways to move money
- Pay bills
online
You can pay anyone, anytime with no bill payment fees. Private Passport
provides a secure place to receive bills and make payments online. You
can pay anybody&ldots; from your mortgage company to the gardener. For
more information, see How
do I pay bills online?
- E-mail Payments
Private Passport Bill Payment provides two services in one. You can
also send e-mail payments to anyone with an e-mail address and a U.S.
bank account. For more information, see What is an e-mail payment?
- Online trading
Transfers will automatically be made from your designated settlement
account when a Northern Trust Securities, Inc. trade is executed or when
interest and dividends are earned. If your primary settlement account
is not a banking account, you can set up a linked banking account for
transfers to and from your brokerage account. For more information, see
How do I link
a checking account to my brokerage account?
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