Create Loan Transfer
Use the Create Loan Transfer page to make a loan payment by defining instructions to transfer funds from a non-loan account to a loan account. When defining the transfer, you can choose to make a standard payment or to specify amounts to go to the principal, interest and escrow.
- Transfer From
The account to withdraw funds from
- Transfer To
The loan account to which funds are to be transferred.
- Amount Type
Provides the following options:
- Standard
The amount due is transferred to the loan account.
Note: If the loan is past due, you must use Standard as the amount type. The Amount Due must be greater than 0.
- Other
When selected, the loan principal, interest and escrow amount fields are displayed.
An amount must be entered in at least one of the other fields.
- Standard
- Schedule Time
The time to release transfer funds to the value transfer system.
- Use international format, such as 15:00 for 3:00 PM.
- If no time is specified, the transfer will be executed immediately on the scheduled date.
- Schedule Time is not applicable to recurring or future dated transfers.
Note: The availability of this field is based on bank settings.- Date
The transfer date
Note: If the defined date is a non-processing date or if it is past cut-off time for daily processing, the date is changed to the next available processing date.- Options
Additional instructions to include with the transfer
- Add memo information
A text box appears where you can enter information to be stored with the transfer instructions.
- Approve on submit
If you have permissions to approve your own transfers, select this option to submit your approval with the details of the transfer.
- Add memo information
