What is an A2A transfer?
A2A stands for Account to Account. This is a type of ACH (Automatic Clearing House) transaction that an H.P.C. member can choose to utilize to transfer funds to and from their H.P.C account to any financial institution account they own or are joint owner on. Essentially, A2A allows a member to link their account at H.P.C. with their account at another financial institution (any bank or credit union). Once the link is established, a member is then able to initiate debits or credits to or from their linked accounts.
How does A2A work, and how is it different from our current ACH process?
A2A is a way for H.P.C. members to transfer money to and from their H.P.C. account and other accounts they may own or are a joint owner on at other financial institutions. Currently, when a member requests a transfer request, the ACH transfer is manually processed through a series of steps through the ‘back-end’ of the Credit Union’s system. Using the A2A feature, once an account is linked, an ACH transfer request can be processed through the ‘front-end’ of our system by a Member Service Representative, or the ACH can be initiated by a member through their Online Banking.
To link an account (or multiple accounts), a member must contact the Credit Union to complete and sign an “Authorization for Account to Account Transfer (A2A)” form. Members must provide complete account information about their account(s) at other financial institutions, including: the full account number (including suffix); the type of account; the name of the financial institution; and the financial institutions’ routing number. Members must also designate a nickname for A2A account to help identify which account it is.
After the A2A is set up and account(s) linked, H.P.C. members will see their newly linked account as an option in the ‘Pay and Transfer’ tab when logged into Online Banking. When a member is signed into Online Banking, they may choose the ‘Quick Transfer’ option to transfer funds; or a member may select to ‘Schedule a Transfer’ tab and proceed to other transfer options, including setting up ongoing transfers. A member may also use the ‘Pay & Transfer’ option in their Online Banking to view or modify scheduled ACH transfers.
If a member does not have Online Banking or doesn’t want to set up a transfer, members may elect to have a Credit Union Member Service Representative set up the ACH transfer. H.P.C. members must complete and sign an “ACH Origination Authorization Form” and provide the form to a Member Service Representative. The Member Service Representative will then be able to set up the ACH transfer as requested.
I’m interested in A2A. How do I get this set up?
Call one of our Member Service Representatives today! Call 989-354-4698 and ask about A2A. An available Member Service Representative can help explain the process and have the form electronically sent to you. You can also stop in at one of our branch locations to speak to one of our representatives and sign the form(s) in person to start the process.