The External Transfer feature of
BankXpress Online Banking allows you to transfer money between your
Sandy Spring Bank checking and savings accounts and your accounts
at other banks and credit unions in the United States. You can
schedule External Transfers on a one-time or repetitive basis.
External Transfers are available to individuals only.
Q. How do External Transfers
A. Transfers are made through the Automated Clearing House
(ACH) network. Once you make your transfer request the funds are
credited on the effective date. Transfers take three business days,
not including the day you request the transfer. External Transfers
are available to consumer accounts only.
Q. How long does an
External Transfer take?
A. Transfers begin their processing the next business day after
your request, provided they are made prior to the cutoff time.
External Transfer requests made after the 3:00 p.m daily cutoff
time do not begin processing until the following business day. The
transfer is complete as of the effective date, specified when you
request the transfer.
Q. What do I do
if I want to cancel an External Transfer?
A. You cannot cancel a transfer if it has already begun
processing. If it is still pending and has not begun processing you
may cancel the transfer by clicking 'delete' on the transfer from
the Pending Transfers page.
Q. What types of
accounts can I setup for External Transfers?
A. You can setup checking and savings accounts for
External Transfers. External Transfers are available to consumer
Q. What are the ownership
requirements for External Transfers?
A. You must be an owner on the accounts at both Sandy
Spring and the other institution. The exception is if you are
requesting an account for outbound transfer only. External
Transfers are available to consumer accounts only. Sole proprietors
and business accounts are not eligible for the External Transfer
service. ebiz, our online banking system for business accounts has
an External Transfer feature available.
Q. What is the fee for
A. There is no fee for External Transfers.
Q. What is the dollar
A. You may transfer a total of $5,000 per transfer cycle. A cycle
lasts from the time the transfer begins processing until it is
completed (usually the settlement date displayed in
Q. How many
accounts can I setup?
A. You may setup three accounts to perform both inbound
and outbound transfers using your Sandy Spring accounts. You may
setup one account for the purpose of sending outbound transfers
Q. Why would I want to setup an
account for outbound transfers only?
A. In the event you have a child away at college and you
would like to send money to them electronically, outbound transfers
would be a good option. It still requires that you include a voided
check for checking accounts and a copy of a recent statement for
Q. How do I
setup accounts for External Transfers?
A. Once you login click on the Transfer tab. Then click on
the 'Add External Transfer Account.' Read and click to accept the
terms of the agreement, then complete the online form. You will
need to print off the form, sign it, and submit it to our Client
Service Center along with a voided check for checking accounts, and
a copy of your most recent statement for savings accounts.
Q. How long does it take to get
A. After we receive your signed authorization form plus
proof of ownership of the external account, we will send a prenote
to your other account. The prenote allows us to electronically
verify the information you input when setting up the external
account, and generally takes six business days. Unless your other
bank sends us any correcting information, your account will be
ready to use.
Q. What happens if one of my
accounts doesn't have sufficient funds for the
A. If a debit is returned for insufficient funds we may
cancel your External Transfer service.
Q. What if I
have more questions?
A. Please send us a secure message when you are logged
into BankXpress. You may also call us during business hours at 800-399-5919 and press 2
for our Client Service Center.