DSBconnect Electronic Money Movement
Person to Person (P2P)
P2P used in DSBconnect allows you to make secure and paperless payments to friends, family and yourself, just by a simple email or text. Use P2P 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 checking accounts you have at other banks (debit card there required).
Benefits of P2P transfers:
* Transfer is immediate, no waiting.
* 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 P2P transfers:
When you need to transfer funds to an individual quickly and all you know is their email address or mobile phone number (or debit card number, if known, such as a family member). You can use P2P to send funds to (but not from) debit card numbers you have at other banks.
To use P2P:
Click the Transfer/Move Money functions in DSBconnect. If this is first time to use P2P, you will have to accept the disclosure provided to you. Daily transaction limit is $3,000, and upon request, it can be increased to $10,000 max.
External Transfers sends funds to and from other checking and savings accounts you own at other banks, credit unions and investment firms nationwide through the ACH network.
Benefits of External 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 DSBconnect.
* Faster delivery than an item sent on DSB Bill Pay.
Recommended situation to use External Transfers:
We recommend this service when you know you want to transfer funds to outside bank accounts you own not linked to a debit card there; if it is linked to a debit card, use the P2P instead. Use External Transfers to send funds to outside accounts that typically do not have a linked debit card, such as a savings account or loan account. Use External Transfers when you want to send funds FROM that outside account to an account you own at Denison State Bank.
Click the Transfer/Move Money functions in DSBconnect. If this is first time to use External Transfers, you will have to accept the disclosure provided to you. Daily transaction limit is $10,000. It takes 3 business days to complete the transfer. (Example: you schedule the transfer on a Monday, the funds debit out on Monday, and they credit on the receiving account on Wednesday morning).