Frequently Asked Questions

  • External Transfers
    • Question

      What types of accounts can I setup for External Transfers?

      Answer

      You can setup checking and savings accounts for External Transfers. External Transfers are available to consumer accounts only.

    • Question

      What are the ownership requirements for External Transfers?

      Answer

      You must be an owner on the accounts at both Sandy Spring Bank 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

    • Question

      What is the fee for External Transfers?

      Answer

      There is no fee for External Transfers.

    • Question

      What is the dollar limit?

      Answer

      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 BankXpress).

    • Question

      How many accounts can I setup?

      Answer

      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 only.

    • Question

      Why would I want to setup an account for outbound transfers only?

      Answer

      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 savings accounts.

    • Question

      How do I setup accounts for External Transfers?

      Answer

      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.

    • Question

      How long does it take to get setup?

      Answer

      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.

    • Question

      What happens if one of my accounts doesn’t have sufficient funds for the transfer?

      Answer

      If a debit is returned for insufficient funds we may cancel your External Transfer service.

    • Question

      What if I have more questions?

      Answer

      Please send us a secure message when you are logged into BankXpress Online Banking. You may also call us during business hours at 800.399.5919 and press 2 for our Client Service Center.

    • Question

      How do External Transfers work?

      Answer

      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.

    • Question

      How long does an External Transfer take?

      Answer

      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.

    • Question

      What do I do if I want to cancel an External Transfer?

      Answer

      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.