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

On the Transfer Funds page, you will see the From Account and To Account drop-downs, along with the 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 money to.
  • Amount: Enter the amount you would like to transfer. Note that the transfer amount must be greater than $1.00.
  • Frequency: You can perform a one-time transfer or schedule reoccurring transfers between the accounts selected.
  • Transfer Date: Select the date on which you want the transfer to occur. If it is after the cutoff time, the next business day will be reflected.
  • 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 see a Transaction Authorized message. You will also receive an e-mail confirming the transaction authorization and an e-mail once the transfer is complete.
  • Select Close or Manage Transfer.
  • 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 Outside Accounts

Link Account
  • Select Link an Outside Account then Get started.
  • Add your outside institution to be able to perform External Money Transfers and aggregate the account activity.
  • The Find Institutions list shows institutions that use Plaid for authorization.
  • After the account is linked, select View Linked Account Connections from the Manage Accounts overview page.
  • In the row of your added account(s), click on the institution.
  • Then select the linked account you would like to enable for money movement.
  • Under Account Information, enable Money Movement by selecting Enable This Connection.
  • A success message will pop up, and the toggle switch will be set to “On,” indicating that Money Movement is enabled.
  • You will receive an e-mail confirming that a new account has been connected for external transfers.

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

Bank Names

Link an outside account for Money Movement Only


This selection will allow you to connect an outside account for money movement without including the account’s balance in your aggregated assets.

Menu > Manage Accounts

Select Link an Account for Money Movement Only then Get started to continue with Plaid.

Link an outside institution
  • Follow the prompts through Plaid to add your institution.
  • The Find Institutions list shows institutions that use Plaid for authorization.
  • Once you have completed the steps, select View Linked Account Connections.
  • Your account should show Money Movement already turned on, 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 now appear in the Transfer Funds drop-downs. To navigate to that page, go to: Menu > Move Money > Transfer Funds.

If you do not see your institution, continue to the Link an outside account using account and routing numbers with micro deposit section to manually enter the account information.

Enable previously linked outside account for money movement


Menu > Manage Accounts

  • View Linked Account Connections from the Manage Accounts overview page.
  • In the row of your added account(s), click on the institution.
  • Then select the linked account you would like to enable for money movement.
  • Under Account Information, enable Money Movement by selecting Enable This Connection.
  • A success message will pop up, and the toggle switch will be set to “On,” indicating that 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 now appear in the Transfer Funds drop-downs. To navigate to that page, go to: Menu > Move Money > Transfer Funds.

Why does my account show “Account Ineligible” under Move Movement?


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


Menu > Manage Accounts

Not all institutions are integrated with Plaid. If your account is not integrated with Plaid, you can still link it by manually entering your routing and account numbers. This will allow Plaid to verify your account using micro deposits in order to add your account to Move Money. Plaid will compare the information you submit with what the financial institution has on file to verify that the account is really yours. To perform this action, you must have your routing and account numbers ready.

Link an outside institution Link using account numbers
  • Select Link an Account for Money Movement Only then Get started.
  • On Plaid’s Find Institution step, scroll to the bottom of the institution list to select Link with account numbers.
  • Enter your routing number and click Continue.
  • 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 Wealth Tracker once the micro deposit appears in the account you connected to. The deposit will occur one business day after initiating the connection.

Confirm the micro deposit


Confirm micro deposits
  • Go to Manage Accounts, then select View Linked Account Connections.
  • Find your recently added accounts in the list.
  • Click Confirm Micro Deposit.
  • Enter the three-letter code in your account deposit after the # symbol.
  • Click continue.
  • Your account is now ready for Money Movement. Your account should show Money Movement turned on, indicating Money Movement is enabled.

Verify the Outside Institution


Plaid Authorization:

  • If your institution is available on the Plaid list, continue with the Plaid connection process.
    • Enter the outside institution login 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.

If Not on Plaid List:

  • If your institution is not on the Plaid list, you can enter the account information manually from the Link an Account for Money Movement Only option.
    • 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(s) 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.

View the complete steps to Perform an External Transfer.


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