Beginning Sunday, May 12, your scheduled transfers, also known as Automated Fund Transfers (AFTs), will occur as scheduled, even on Sundays.
What does this mean for you?
For example, if you transfer money from your Verve checking account to your Verve auto loan (or savings) on the 15th of every month, it will post to your account on the 15th, even on Sundays (no more delay in posting until Monday). AFTs scheduled to occur on Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas will post the following day.
Please note: this is only for transfers from one Verve account to another.
All other automated transfers coming to or from an outside source, which are known as Automated Clearing House (ACH) transactions, will occur Monday through Friday, unless it’s a federal holiday. Examples of ACH transactions include payroll deposits, utility bill payments or loan payments for a loan with another financial institution.
Here’s what you need to know:
- You don’t have to do anything differently—scheduled transfers will start posting on Sundays beginning Sunday, May 12.
- You SHOULD make sure you have enough money in your account to cover your scheduled transfers.
If you have any questions about how this might impact your account, please feel free to call us at 800.448.9228 and select option 4, or visit a branch near you.