External Transfers
Overview

Support Main > Move Money > External Transfers


Overview


External Transfers

This convenient, and free, feature allows you to initiate requests to move money between your Stifel brokerage accounts and accounts you hold at other financial institutions.


Transfer Frequency

Make one-time transfers between accounts that will appear within the business day.

Schedule a transfer for in the future. The transfer will occur in the morning on the selected transfer date. Funds will be deposited into the account by 5:00 p.m. CST on the day of the transfer. The account value will not be updated until the transfer occurs.

Recurring transfers can be set up 10 different ways from weekly, monthly, or quarterly, to specific days of the month, and more.



How To Topics


Perform an External Transfer


Menu > Move Money > Transfer Funds

Within the Transfer Funds page, you will see the From Account drop-down, To Account drop-down, Amount, Frequency, Transfer Date, and Description fields.

  • From Account: Select the account you would like to transfer funds from.
  • To Account: Select the account you would like to move the money to.
  • Amount: Enter the amount you would like to transfer. Note that the transfer amount is required to be greater than $1.00.
  • Frequency: You can do a one-time transfer or schedule reoccurring transfers between the accounts selected.
  • Transfer Date: Select the date you would like the transfer to happen.
  • Description: This is optional and will show up as a note in the Manage Transfers activity.
  • Click or tap Transfer Funds.
  • You will be prompted to confirm the transfer with a secure access code. You can choose to receive the secure access code by text message or phone call.
  • Once the transfer is verified you will be shown a Transaction Authorized message. You will also receive an e-mail confirming the transaction authorization and an e-mail once the transfer is complete.
  • To review your Transfer Funds activity, go to Move Money > Manage Transfers or visit the Activity Page to see the completed journal.

Link an outside account for aggregation then turn on money movement


Menu > Manage Accounts

Under Link an Outside Institution:

Link Account
  • Select Search or Connect.
  • Add your outside institution to be able to perform External Money Transfers and aggregate the account activity.
  • The list shows institutions that use Plaid for authorization.
  • View Linked Accounts.
  • In the row of your newly added account, click or tap “Enable Money Movement.”
  • Your account should show Money Movement with a green check mark indicating Money Movement is enabled.
  • Bank Names
  • You will receive an e-mail confirming that a new account has been connected for external transfers.

This account will show in the Transfer Funds drop-downs. To navigate to that page, go to: Menu > Move Money > Transfer Funds.


Link an outside account for Money Movement Only


Menu > Manage Accounts

Select Link an Account for Money Movement Only in the text below the Connect and View Linked Accounts buttons.

Link an outside institution
  • Follow the prompts through Plaid to add your institution.
  • The list shows institutions that use Plaid for authorization.
  • Once you have completed the steps go to View Linked Accounts.
  • Your account should show Money Movement with a green check mark indicating Money Movement is enabled.
  • Bank Names
  • You will receive an e-mail confirming that a new account has been connected for external transfers.

This account will show in the Transfer Funds drop-downs. To navigate to that page, go to: Menu > Move Money > Transfer Funds.

Enable already linked outside account for money movement


Menu > Manage Accounts

  • View Linked Accounts.
  • In the row of the account, click or tap “Enable Money Movement.”
  • The account will show Money Movement with a green check mark to indicate Money Movement is enabled.
  • Bank Names
  • You will receive an e-mail confirming that a new account has been connected for external transfers.

This account will show in the Transfer Funds drop-downs. To navigate to that page, go to: Menu > Move Money > Transfer Funds.

Why doesn’t my account show “Enable for Money Movement”?


Link an outside account using account and routing numbers with micro deposit


Menu > Manage Accounts

Not all institutions are integrated with the Plaid system. You can still link your account by manually entering your bank account and routing numbers. This will allow Plaid to verify your account using micro deposits in order to add your account to Move Money. Plaid will match your information with what is on file at the financial institution to verify the account is really yours. To perform this action, you will need to have your account number and routing number ready.

Link an outside institution Link using account numbers

Select Link an Account for Money Movement Only in the text below the Connect and View Linked Accounts buttons.

  • On the second step of the Plaid connect widget, scroll to the bottom of the institution list to select Link with account numbers.
  • Click continue.
  • Enter your routing number.
  • Enter your account number (twice).
  • Elect if the account is for personal or business.
  • Enter your name.
  • Select the account type; Checking or Savings.
  • Authorize the micro deposit.

You will receive a confirmation e-mail instructing you to return to Stifel Wealth Tracker once the micro deposit appears in the account you connected to. The deposit will happen one business day after initiating the connection.

Confirm the micro deposit


Menu > Manage Accounts

Confirm micro deposits
  • View Linked Accounts.
  • Find your recently added accounts in the list.
  • Click Confirm Micro Deposit.
  • Enter the three-letter code shown in your account deposit after the # symbol.
  • Click continue.
  • Your account is now ready for Money Movement. You will see Money Movement with a green check mark next to the account name in your Linked Institution list to indicate Money Movement is enabled.

This account will show in the Transfer Funds drop-downs. To navigate to that page, go to: Menu > Move Money > Transfer Funds.


Verify the Outside Institution


Plaid Authorization:

  • If you are able to find your institution from the Plaid list, you should continue with that connection process.
    • Enter the outside institution log in credentials when prompted.
  • Once complete, you will see the account(s) listed in the Linked Accounts List and in the Transfer Money form drop downs. In the row of your newly added account, click or tap “Enable Money Movement.”
  • You will also receive a confirmation e-mail with the Institution name and last four digits of the account(s) chosen.

View the complete steps to Link an outside account for aggregation then turn on money movement.

Not on Plaid List:

  • If your institution is not on the Plaid list you can enter the account information manually.
    • Scroll to the bottom of the Plaid Connect module.
    • Select Link with account numbers.
    • Input your account and routing numbers.
  • Account verification will be done by using a micro deposit.
    • You will receive an e-mail confirming that the process of adding an external account has begun. You will be informed of the micro deposit process and that you must verify the deposit to activate the account.
    • Once verified, you will receive an e-mail letting you know the account(s) has been confirmed and added.

View the complete steps to Link an outside account using account and routing numbers with micro deposit.

Once the account(s) has been successfully added


  • You can view and manage the account in the Outside Linked Accounts list under Manage Accounts.
  • You will see the accounts in the To/From drop-downs of the Transfer Funds Form.
    • Stifel accounts will show available balance.
    • External institutions will not show the available balance. They will show a $0.00 balance.

View the complete steps to Perform an External Transfer.


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