Online Money Transfers Comparison Chart

Transferring money to someone is quick and easy. Use this chart to help you choose which option is best for you.

 
Description
Fee
Processing Time
Available in Online Banking
Available in Mobile Banking
Funding Account Must Be in Your Name
Receiving account Must Be in Your Name
Other Information Needed to Complete Transfer
Schedule One-Time Future Transfer
Schedule Recurring Transfers
Limits
Registration Required

Member to Member Transfers

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Description

Transfer funds from your ESL account to another ESL member’s account.

Fee

Free

Processing Time

Immediately

Available in Online Banking

Yes

Available in Mobile Banking

Yes

Funding Account Must Be in Your Name

Yes

Receiving Account Must Be in Your Name

No

Other Information Needed to Complete Transfer

Other member’s:
Account number
and
Last name

Schedule One-Time Future Transfer

No

Schedule Recurring Transfers

No

Limits
  • Available amount in your account
  • If transferring from a savings account – no more than six electronic withdrawals may be made in a month (Regulation D)
Registration Required

No

Person to Person Payments

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Description

Transfer funds from your ESL account to another person. Also referred to as Popmoney.

Fee

Standard – Free
Express – $8 per transfer

Processing Time
  • Standard (3 business days)
  • Express (next business day)
Available in Online Banking

Yes

Available in Mobile Banking

Yes

Funding Account Must Be in Your Name

Yes

Receiving Account Must Be in Your Name

No

Other Information Needed to Complete Transfer

Other person’s:
Email address
or
Mobile number
or
Account number (online banking only)

Schedule One-Time Future Transfer

Yes (online banking only)

Schedule Recurring Transfers

Yes (online banking only)

Limits
  • Daily – $500
  • Every 30 days – $1,000
  • If transferring from a savings account – no more than six electronic withdrawals may be made in a month (Regulation D)
Registration Required

Yes

Transfers to External Accounts

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Description

Transfer funds to and from your ESL accounts to any of your external financial institution’s accounts in the U.S.

Fee

Free

Processing Time

3 business days

Available in Online Banking

Yes

Available in Mobile Banking

No

Funding Account Must Be in Your Name

Yes

Receiving Account Must Be in Your Name

Yes

Other Information Needed to Complete Transfer

Your account number and Routing Number at other financial institution.

Schedule One-Time Future Transfer

Yes

Schedule Recurring Transfers

Yes

Limits
  • Daily – $50,000
  • Every 30 days – $100,000
  • If transferring from a savings account – no more than six electronic withdrawals may be made in a month (Regulation D)
Registration Required

Yes