MoneyMover Funds Transfer System
What Is MoneyMover? MoneyMover is a service that electronically transfers funds from your LMFCU share account to your checking account at any financial institution in the United States. To apply, complete the application below and return it along with a voided check from your checking account. It takes approximately one week to activate MoneyMover for your account.
How Do I Request A MoneyMover Transfer? The process is easy. Any account owner (primary owner or joint owner) may initiate a MoneyMover transfer by phone, in person or through Internet Branch. Provide us with the Credit Union account number and the owner's Social Security number, as usual. Let us know you'd like the funds transferred via MoneyMover to your local account (you won't need to provide that account number; we already have it). MoneyMover transfers may be made from your share account only; transfer funds from other Credit Union accounts (if needed) to your Credit Union share account and then initiate a MoneyMover withdrawal. Any withdrawal request received by 3:00 PM will be processed the next business day.
How Are The Funds Transferred? MoneyMover transfers are made by ACH (Automated Clearing House) credit, the same method by which direct deposit of payroll is handled. ACH transfers are a safe, fast and reliable method of moving funds. Should you wish, you may still request that a withdrawal check be mailed to your home.
When will the funds be deposited to my local account? The funds transferred will be posted to your local account on the morning of the second business day after the transfer was processed. For example, a MoneyMover transfer initiated by 3:00 pm on Monday will be deposited to your local account on Wednesday morning.
Are There Any Limitations Or Fees? You may make up to 3 MoneyMover transfers per month at no charge. There is a $5 fee for each transfer made after the third per month or if the transfer amount is less than $100. Confirmation of the transfer will be included on your regular Credit Union statement of account; no other confirmation notice will be sent to you.
Other Important Information: Should you wish to change the account that MoneyMover transfers are deposited to, please contact the Credit Union for a new MoneyMover enrollment form. You may only designate one account elsewhere to receive MoneyMover transfers. You may cancel your ability to make MoneyMover transfers by phone or in writing.
How Do I Enroll? Click here to print and complete a Moneymover Application. Mail the application, along with a voided check from your other financial institution to the Credit Union. Once we receive the application, you will be able to initiate Moneymover transfers in 7 calendar days. You will receive a confirmation letter in the mail once your account has been setup.