Transfers

The Transfers function allows you to transfer funds between accounts within your CoBank relationship. The funds remain within CoBank.

1. Create a Transfer Transaction

A Transfer Transaction is a transfer of funds between accounts within your CoBank relationship. The funds remain within CoBank.

To create a transfer transaction navigate from the Home page, by clicking on Payments & Transfers on the Main menu. The Wire Transfers page will be displayed:

Click on Transfers on the submenu. The Account Transfers page will be displayed:

Click on the 'New Transfer' button. The Account Transfers page will be displayed:

From Account. Select the appropriate account from the drop down list.

  • Loan account: The transaction will result in a loan advance, thereby increasing the outstanding variable loan balance.
  • Investment account: The transaction will result in an investment withdrawal, thereby decreasing the investment balance.

To Account. Select the appropriate account from the drop down list.

  • Loan account: The transaction will result in a loan paydown, thereby decreasing the outstanding variable loan balance.
  • Investment account: The transaction will result in an investment deposit, thereby increasing the investment balance.
  • Pay Bill: This option may be selected to satisfy your outstanding CoBank bill.

Amount. Enter the amount.

Date. The system will default the current business day. You may accept the current business day, or select from the following options to future date the transaction:

  • Click in the date field to manually key in the date.
  • Click on the calendar icon to select the date.

Memo. Optional.

Click the 'Submit Transfer' button. The Account Transfer Verify page will be displayed:

Click the 'Send Transfer' button. The system will display the Account Transfer Confirm page with a message confirming that the transfer has been sent:

Click the 'Done' button. The Account Transfers page will be displayed:

The transfer transaction will appear in the appropriate tabs sorted to the top.

2. Delete a Pending Transfer Transaction

Transactions listed in the following categories may be deleted:

  • Summary of Transfers Submitted for Approval or Rejected:
    • “Submitted for Approval” transactions remain in this category until approved by an authorized CoBank user, at which time they automatically move to a Pending/Scheduled, or Submitted/Completed status.
    • "Rejected" transactions remain in this category.
  • Pending Transfer Summary:
    • Future-dated transactions remain in this category until the effective date, at which time they automatically move to a Submitted/Completed status.

Please note that transactions listed in the “Submitted Transfer Summary” category may not be deleted, because they have already been processed by CoBank. However, you may contact CoBank Customer Service at 1-800-255-6190 for assistance.

To delete a pending transfer transaction, navigate from the Home page, by clicking on Payments & Transfers on the Main menu. The Wire Transfers page will be displayed:

Click on Transfers on the submenu. The Account Transfers page will be displayed:

Locate the transaction that you want to delete. Click the 'Delete' icon on the right side of the screen across from the transaction you want to delete. The Delete Account Transfer Confirm pop up window will be displayed with a message asking you if you are sure you want to delete this transfer:

Click the 'Delete Transfer' button. The Account Transfers page will be displayed:

The transfer transaction has been deleted.

3. Create a Transfer Template

A Transfer Template saves account transfer instructions between accounts within your CoBank relationship. The transfer template may then be used to create a templated transfer transaction. See instructions for “Create a Templated Transfer Transaction.”

To create a transfer template, navigate from the Home page, by clicking on Payments & Transfers on the Main menu. The Wire Transfers page will be displayed:

Click on Transfers on the submenu. The Account Transfers page will be displayed:

Click on the 'Templates' button. The Account Transfer Templates page will be displayed:

Click the 'New Transfer' button. The Account Transfers - New Transfer Template page will be displayed:

Template Name. Enter an appropriate template name that will allow you to distinguish one template from another (e.g. S01 to T01; Pay Bill; etc.).

From Account. Select the appropriate account from the drop down list.

  • Loan account: The transaction will result in a loan advance, thereby increasing the outstanding variable loan balance.
  • Investment account: The transaction will result in an investment withdrawal, thereby decreasing the investment balance.

To Account. Select the appropriate account from the drop down list.

  • Loan account: The transaction will result in a loan paydown, thereby decreasing the outstanding variable loan balance.
  • Investment account: The transaction will result in an investment deposit, thereby increasing the investment balance.
  • Pay Bill: This option may be selected to satisfy your outstanding CoBank bill.

Amount. Enter 0.00.

Memo. Optional.

Click the 'Submit Template' button. The Account Transfer Template verify page will be displayed with a message asking you to verify the transfer template information:

Click the 'Save Template' button. The system will display a message on the Account Transfer Templates confirm page:

Your template has been saved.

Click on the 'done' button and the account Transfer templates page will be displayed.

The new template will be included on the Template List.

4. Create a Templated Transfer Transaction

A Templated Transfer Transaction is a transfer transaction with account debit and credit information saved in the system. The funds remain within your CoBank relationship. See instructions for “Create a Transfer Template.”

To create a templated transfer transaction, navigate from the Home page, by clicking on Payments & Transfers on the Main menu. The Wire Transfers page will be displayed:

Click on Transfers on the submenu. The Account Transfers page will be displayed:

Click on 'New Transfer' button. Select the appropriate template from the drop down list, and click the 'Load' button. The Account Transfers - New Transfer (Load From Template) page will be displayed:

Amount. Enter the dollar amount.

Memo. Optional.

Click the 'Submit Transfer' button. The Account Transfer verify page will be displayed with a message asking you to verify the transfer information:

Click the 'Send Transfer' button. The Account Transfer Confirm page will be displayed with a message confirming that your transfer has been sent:

Click the 'Done' button. The Account Transfers page will be displayed:

The transfer transaction will appear in the appropriate tabs on the page.

5. Quick Search

 Quick search function from Payments & Transfers->Transfers submenu allows you to search for any transactions within the 2 months time frame.

 

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