External Funds Transfers
Popmoney, a person-to-person (P2P) payments service, allows you to make secure and paperless payments to friends, family and yourself, just by emailing and texting. Use Popmoney to send money to your child in college, give a cash gift to family and friends, pay back friends for that fun outing, pay your babysitter, and pay rent to your roommates. You can also use to send funds to other accounts you have at other banks.
Benefits of person-to-person-transfers:
* Eliminates the hassles of checks and cash, allowing for paperless payments.
* Recipient can deposit the funds directly into his/her bank account -- without making a trip to bank.
* Transfer funds to accounts you own at other banks.
* Faster delivery than personal payments sent on DSB Bill Pay.
Recommended situations to use Popmoney transfers:
When you need to pay an individual within 1-3 business days and all you know is their email address or cell phone number (or bank account number, if known, such as a family member or an account you have at another bank). You can also use Popmoney to send funds to (but not from) accounts you own at other banks. Choose the expedited Next Day Delivery or standard 3-Day Delivery -- both are free to use.
To use Popmoney:
From a browser login to DSB Online at www.dsbks.com: Click the "Transfers" button in top menu row, then "Popmoney."
From a DSB mobile banking app login: Click the Accounts icon in upper left corner, then “Transfers > Popmoney”
Once in the Popmoney function, you can send money to anyone using his/her email address, mobile number or bank account information. You will be notified when the transaction is completed.
To receive money from another Popmoney user, you receive an email or text message telling you someone sent you money. You can login to DSB Online/mobile banking app and receive the funds there.
Daily transaction limit for 3-day Popmoney is $5,000, monthly limit is $10,000. Daily transaction limit for next-day Popmoney is $2,000, monthly limit is $5,000. Extra identity verification of the sender may be required, based on the risk of the transaction as determined by the Popmoney service provider.
Note: For Next-Day transfers: sender must have double the transfer amount in the Available Balance at time of scheduling. If not, choose the 3-day transfer. Popmoney requires the sender to have at least $100.00 in the available balance of the funding account when a transfer is scheduled; if not, it will not work.
Bank-to-Bank ACH Funds Transfers Between My Accounts
Available only on browser login to DSB Online, not on mobile banking app
This service transfers funds to and from other checking and savings accounts you own at other banks, credit unions and investment firms nationwide through the ACH network. Transfers occur behind the security of DSB Online internet banking, plus additional security safeguards such as PIN entry, external account verification, and trial deposit verification. Funds are transferred securely over the nation's ACH network.
Benefits of bank-to-bank transfers:
* Allows convenient access to your money held at all financial institutions you use.
* You don't have to pay a $20 wire transfer fee.
* All done behind one single login to DSB Online.
* Faster delivery than an item sent on DSB Online Bill Pay.
Recommended situation to use bank-to-bank transfers:
We recommend this service only when you know you will want to later transfer funds FROM another institution TO your DSB account. If you need to transfer TO another bank only, we recommend you use Popmoney instead (see above). Before you can transfer funds FROM another bank account at another institution, you first must have made at least one successful transfer FROM your DSB account TO the outside bank. Then, you can transfer funds back to DSB. This service is recommended for when you need to transfer to and from Denison State Bank within 3 business days and don't need same-day funds availability, saving you the costs of doing a wire transfer - AND - when you want the transfer to be faster than what occurs in DSB Online Bill Pay in sending funds to another bank, credit union or investment firm. Settlement time is 3 full business days.
To transfer money: Login to DSB Online on a browser (not mobile banking app) and click “Transfers” in the blue bar at top, then "ACH to/from my other banks." Next screen select "Add an account" to get started with the one-time setup and trial deposit process. Daily transaction limit is $2,000, and monthly limit is $5,000. It will take 3 full business days for the credit to arrive to the receiving institution. (Generally, bank-to-bank transfers up to $2,000 are allowed, as long as all requested information is validated. If a transaction exceeds the security threshold of the service provider, you will be prompted for additional verification. Complete the verification successfully, and your transaction will be initiated.)
Trial deposits: When you need to enter your trial deposit amounts to verify, obtain the two trial deposits amounts from the receiving bank, then login to DSB Online at dsbks.com, click "Transfers" link in top blue bar, then "To/from my other banks." Next screen click "Settings" link, then choose "Accounts" and you will see the receiving account to activate by entering the trial deposit amounts.
Click the "Help" link within these online sites for help and information about the screen you are on. For additional help, ask us.
Not sure what type of funds transfer to use? Click here.