Setting Up a Transfer Payment

The order in which Portico will post the member's transfer items effective the same day. Valid transfer priority codes are 01 through 99. Transfer priorities occur in ascending order, starting with 1. The second field of XX indicates the total number of transfers that this member has set up. If the Frequency field is C-ACH Scheduled, the Priority field is system-assigned to automatically insert the ACH transfer before any non-ACH transfers. For sweep processing, set the transfer as the last priority in the Priority field. You can only specify a priority when creating the transfer. Once you click Save, you cannot maintain the Priority field. You must delete the transfer record, then re-create the transfer to change the priority.

Length: 2 numeric

Keyword: DP

Click the down arrow to select the frequency of the transfer. The valid values are:

R - Request - one time only

D - Daily

W - Weekly

B - Bi-weekly

E - Semi-monthly

S - Semi-annually

M - Monthly

A - Annually

Q - Quarterly

C - ACH Scheduled. When you select C-ACH Scheduled, the ACH-specific fields will appear.

O - Other

For a transfer type of Loan Amount Due, the Frequency field must be O - Other Event. The O - Other Event option instructs Portico to advance the Post Date field to the next scheduled loan payment date according to the frequency on the loan when the loan becomes current. On the post date specified on the Member Transfer File Information dialog box, Portico will inquire on the loan and determine if the loan is current or has an amount due, then perform a transfer accordingly. If the loan due date is in the past and the Transfer From account has insufficient funds, Portico will transfer the available funds, then reset the Post Date field and attempt to satisfy the remaining loan amount due in the next back-office cycle. Portico repeats this process until the loan is brought current.

For FICS mortgage payments, the Frequency field must be M-Monthly . If the member elects to pay only the regular scheduled payment amount, the Transfer Type field must be P - Scheduled Loan Payment. Transfer File reads the Transactions – Vendor Credit Card, Mortgage & Education Payments tab for the payment amount based on the amount uploaded from the FICS application. If the member would like to pay a fixed payment amount each month where the excess is applied to principal, then an amount must be specified in the Amount/Target Balance field and the Transfer Type field must be Fixed Amount. The Account Type/ID fields in the Transfer To group box must specify Mortgage and the FICS mortgage note number to which the payment is being applied. The Transfer Type field cannot be L - Loan Amount Due for FICS loans.

For sweep transfers, the Frequency field must be D-Daily . Set the sweep processing transfer as the last priority in the Priority field, and the Max Attempts field to 1. Set the Transfer Type field to S - Sweep Excess Funds and enter the target minimum balance in the Amount/Target Balance field. The amount in the Amount/Target Balance field must be greater than 0.00. The system calculates if there is an amount in excess of the target balance, and a one-way sweep of funds is performed daily when the transaction account has a balance in excess of the target amount. The system will consider check hold amounts and minimum balance requirements when calculating the target balance. Enter the interest-bearing share account information in the Acct Type/Acct ID field. The interest-bearing account must be for the same member number.

Keyword: PF

For online ACH transfers, specify whether Portico should process ACH scheduled transfers once per day or initiate the same transfer multiple times a day. 

Reporting Analytics: Online Repost Flag (Member Information >Member Automated Transfer / Month-end Information >Member Month-end > ME Member Automated Transfer)

Indicates which process posted an ACH scheduled transfer. ACH scheduled transfers posted in the back office cycle have a value of Morning or Evening, depending on when the transfer processed. For ACH scheduled transfers posted online, the indicator display sa value of Online. The Posting Method field contains a value even if the online ACH scheduled transfer is not processed.

Reporting Analytics: Posting Method Indicator (Member Information >Member Automated Transfer / Month-end Information >Member Month-end > ME Member Automated Transfer)

Indicates the last time an ACH scheduled transfer was posted online. The time indicates the actual time the transfer was completed online. ACH scheduled transfers that are processed in the back office cycle or have never been processed by Portico display a value of blank.

Reporting Analytics: Posting Time (Member Information >Member Automated Transfer / Month-end Information >Member Month-end > ME Member Automated Transfer)

The day of the month the transfer should occur. The valid values are 01-31. Specify 31 to schedule the transfer at month end. The Day of Month field is required on transfers with the following frequencies:

A - Annually

E - Semimonthly

M - Monthly

Q - Quarterly

S - Semiannually

It is not valid for R-Request Only, D-Daily, W-Weekly, and B-Bi-Weekly frequencies.

If the Frequency field is E - Semi-Monthly, the valid values are 01-15 and the Post Date field must be the same as the Day of Month field or 15 days greater. For example, if the Day of Month field is 15, the Post Date must be XX/15/XX or equal a month end date.

If the Frequency field is C-ACH Scheduled, the Day of Month field will always be blank.

Keyword: DY

The date the transfer should be posted. The post date can not be more than one day earlier than the effective date. Click the down arrow to select the date from the pop-up calendar or enter the date in MM/DD/YYYY format.

If the post date and effective date are the same, the transfer will be completed in the PM pass of the back-office cycle. If the post date is one day earlier than the effective date, the transfer will be completed in the AM pass of the back office cycle.

If the Frequency field is C-ACH Scheduled, the Post Date field will always display 12/31/9999.

Keyword: PD

The maximum number of transfer attempts allowed. If the transfer has not been successfully completed by the maximum number, the post date and effective date will be advanced one full frequency as determined by the Frequency field. All attempts will be reported on Transfer File Register Report 434.

For sweep processing, set the Max Attempts field to 1.

A default max attempts value can be specified in the Transfer File section on the Credit Union Profile - Products & Services tab. The Max Attempts field will default to that value but may be overridden at the individual transfer level. If no default value is specified on the Credit Union Profile - Products & Services tab, then the default will be blank and you must complete the Max Attempts field to set up the transfer.

Maximum values for this field are based upon the frequency of the transfer:

R - Request - one time only: 1

D - Daily: 1

W - Weekly: 6

B - Bi-weekly: 13

E - Semi-monthly:13

S - Semi-annually: 21

M - Monthly:21

A - Annually: 21

Q - Quarterly: 21

C - ACH Scheduled: 1

O - Other: 1

If the Frequency field is C-ACH Scheduled, the Max Attempts field will always default to 1.

Length: 2 numeric

Keyword: MA

The effective date of the transfer. If the post date and effective date on the Member Transfer File Information dialog box are the same, the transfer will be performed in the PM pass of the back office cycle. If the post date is one day less than the effective date, the transfer will be performed in the AM pass of the back-office cycle. The effective date can not be more than one day greater than the post date. Click the down arrow to select the date from the pop-up calendar or enter the date in MM/DD/YYYY format.

Keyword: ED

The date the transfer should end. The end date may not be before the post date. Click the down arrow to select the date from the pop-up calendar or enter the date in MM/DD/YYYY format. The system default is 12/31/9999.

If the post date and end date are the same, the end date will override the post date and the transfer will not occur.

Keyword: EE

The type of transfer scheduled for the member. The valid values are:

A - All Available Funds. Transfer amount is all of the available funds in the share type specified in the Account ID field at the time of the transfer.

L - Loan Amount Due. Transfer funds based on the loan amount due at the time of the transfer instead of the regular payment amount. The Transfer Type field cannot be L - Loan Amount Due for FICS loans.

O - Loan Payoff. Transfer amount is the loan payoff amount at the time of the transfer.

P - Scheduled Loan Payment. Transfer amount is the scheduled payment amount on the loan record at the time of the transfer.

S - Sweep Excess Funds for sweep processing. Transfer amount is the difference in the available balance minus the target amount defined in the Amount/Target Balance field. Any excess available funds be moved to another specified interest bearing account.

X - ACH Excess. Transfer amount is the ACH deposit amount defined in the Amount/Target Balance field. Any ACH deposit amount in excess of the amount specified will be transferred.

Blank - Fixed Amount. System default. Transfer amount is the fixed amount defined in the Amount/Target Balance field. The Transfer From Selection Type or Account Type field must specify a share or share draft account.

Keyword: AY

The select process that will be used to determine which accounts to transfer the funds from. Click the down arrow to select the selection type.

1 - Search all regular share accounts on this member from the lowest share type to the highest.

2 - Search all share draft accounts on this member from the lowest to the highest.

3 - Search all IRA shares on this member from the lowest to the highest.

4 - Search all regular share accounts on this member first then search all non-IRA certificates from the lowest to the highest certificate number.

5 - Search all IRA share accounts on this member first then search all IRA certificates from the lowest to the highest certificate number.

6 - Search all IRA certificates on this member from the lowest to the highest certificate number then search all IRA share accounts.

7 - Search all IRA certificates on this member from the lowest to the highest certificate number.

8 - Search all non-IRA certificates on this member from the lowest to the highest certificate number.

blank - not used

Transfers will not be allowed from escrow share types. IRAs, certificates and general ledger accounts cannot be used to transfer payments for credit cards, loans, mortgage loans, or safe deposit box fees.

Keyword: SY

Click the down arrow to indicates whether system partial transfer amounts should be allowed from share/share drafts/certificates in order to satisfy the total amount of the transfer. Portico will search, based on the transfer selection type, accounts associated with the member to satisfy the transfer amount. If there are not enough funds to cover the transfer amount, the transfer will or will not take place depending on selection method.

The valid options are:

• Blank - only allowed if the Selection Type field is blank.
• P - Allow a partial transfer.
  • Example 1: A member has a loan payment of $500.00 with the selection type from regular share accounts 01, 02 and 05. Share type 01 has $75.00 with an available balance of $50.00. Share type 01 does not have enough funds to satisfy the total transfer amount so the system goes to the next regular share. Share type 02 has $150.00 with an available balance of $125.00, that also is not enough to satisfy the transfer amount so the system continues to the next share. Share type 05 has $230.00 with an available balance of $205.00. Since the total transfer amount cannot be satisfied, the funds will be rolled back into all the affected share accounts. If the transfer has not been successfully performed by the specified number of maximum attempts, then the post date and effective date will be advanced one full frequency as determined by the Frequency field. All attempts will be reported on Transfer File Register Report 434.
  • Example 2: A member wants to transfer $1000.00 to a Vacation Club account with the selection type from regular share accounts 01, 02 and 05. Share type 01 has $600.00 with an available balance of $550.00. Share type 01 does not have enough funds to satisfy the total transfer amount so the system goes to the next regular share. Share type 02 has $150.00 with an available balance of $125.00, that also is not enough to satisfy the transfer amount so the system continues to the next share. Share type 05 has $900.00 with an available balance of $875.00. Share type 01 contributes $550.00, share type 02 contributes $125.00 and share type 05 satisfies the remaining $325.00 thus allowing the transfer to complete. The post date and effective date will be advanced one full frequency as determined by the Frequency field.
• T - Do not allow partial transfers and roll back all the money into the affected shares/share draft/certificate accounts. If there are enough funds to complete the transfer, then the total transfer amount will be transferred. System default.
  • Example: A member has a loan payment of $500.00 with the search option from regular share accounts 01, 02 and 05. Share type 01 has $75.00 with an available balance of $125.00 and share type 05 has $230.00 with an available balance of $205.00. If the Selection Method is T, the system will search through each share type but WILL NOT withdraw funds to the available balance because none of the shares can individually apply the total amount of the loan payment of $500.00. If the transfer has not been successfully performed by the specified number of maximum attempts, then the post date and effective date will be advanced one full frequency as determined by the Frequency field. All attempts will be reported on Transfer File Register Report 434.

If an option is selected from the Selection Type drop-down list, you must also select an option from the Selection Method drop-down list.

Keyword: SM

The fixed amount that will be transferred.

The Amount field must be blank or zero if the Transfer Type field is A - Available Funds, O - Loan Payoff or P - Scheduled Loan Payment, or L - Loan Amount Due.

If the Transfer Type field is X-ACH Excess, the dollar amount specified will remain in the target account.

For sweep processing, enter the target minimum balance in the Amount/Target Balance field. The amount in the Amount/Target Balance field must be greater than 0.00. The system calculates if there is an amount in excess of the target balance, and a one-way sweep of funds is performed daily when the transaction account has a balance in excess of the target amount. The system will consider check hold amounts and minimum balance requirements when calculating the target balance. The excess funds will be swept to the account specified in the Acct Type/ID fields.

Length: 12 numeric including decimal

Keyword: TA

The minimum deposit amount required before allowing distributions to occur. If the ACH deposit is not equal to or greater than amount specified, the scheduled ACH distribution will be reported as unsuccessful with exception code 47 - Less than required minimum ACH deposit.

Length: 12 numeric including decimal

Keyword: MS

The routing and transit number of the originating financial institution for an ACH transaction. You can leave this field blank if posting by company name and/or company ID. If left blank, Portico will populate the field with zeroes.

Length: 8 numeric

Keyword: OR

The unique company ID of the originator of the ACH transaction. The originator can be the credit union or the company sending the ACH item. For ACH scheduled transfers, you can leave this field blank if posting by company name and/or OFI. On the ACH Processing Options window, enter zeroes in this field if posting by company name or batch description.

Length: 10 alphanumeric

Keyword: CI

The name of the originating financial institution as it should appear at the receiving institution.

The company name, OFI, and/or company ID can be used as the criteria for posting ACH. The company name can be used in addition to the OFI and/or company ID to post ACH or in place of the OFI and/or company ID. You can leave this field blank if posting by company ID and/or OFI.

To post by company name only on the Member Transfer File Information dialog box, specify the company name in this field. The company name must be an exact match to the company name appearing on the ACH file. Leave the Originating Financial Institution and Company ID fields blank.

On the ACH Processing Options window:

• To post by company name only, specify the company name in this field. The company name must be an exact match to the company name appearing on the ACH file. Leave the Originating Financial Institution field blank. In the Company ID field, enter zeroes. The Post by Company Name check box must be selected on the Credit Union Profile – ACH/Payroll tab to post ACH items through the post by company name only table first.
• To post by batch description, specify the batch description in this field. The batch description must be an exact match to the batch description appearing on the ACH file. Leave the Originating Financial Institution field blank. In the Company ID field, enter zeroes. The Post by Batch Description check box must be selected on the Credit Union Profile – ACH/Payroll tab to post ACH items through the post by batch description table first. If the Match On field is Batch Description on the ACH Processing Options window, Portico will only allow 10 characters in the field.

Length: 16 alphanumeric

Keyword: CN

The branch corresponding with the general ledger account number that the funds will be transferred from. General ledger accounts cannot be used to transfer payments for credit cards, loans, mortgage loans, or safe deposit box fees.

Length: 3 numeric

Keyword: GB

Click the down arrow to select the type of account (share, certificate, or GL) that the funds will be transferred from. Must be a share or share draft if the Transfer Type field is Fixed Amount. IRAs, certificates and general ledger accounts cannot be used to transfer payments for credit cards, loans, mortgage loans, or safe deposit box fees.

Keyword: T1, T2, T3, T4, T5

The share type, certificate number or general ledger number of the account that the funds will be transferred from. For share or certificate, click the down arrow to select the share type or certificate number. For general ledger, enter the account number.

IRAs, certificates and general ledger accounts cannot be used to transfer payments for credit cards, loans, mortgage loans, or safe deposit box fees.

Keyword: C1, C2, C3, C4, C5

Click the down arrow to select the account that the ACH deposit should be distributed from.

Click the down arrow to select the correct IRA withdrawal code if the share account or certificate is an IRA account. Click here to view a list of the valid withdrawal codes.

Keyword: IW

Select this check box to calculate and collect IRA Federal withholding on distributions from an IRA account. The system will look at the Federal Withholding Percent field on the IRA Profile dialog box to determine the percentage to use to calculate the IRA Federal withholding. If the Federal Withholding Percent field displays 00.00, and the Federal W/H check box is selected, the system will use the default rate of 10.00%. The system will multiply the percentage times the interest earned to calculate the IRA federal withholding amount.

Keyword: WI

Select this check box to calculate and collect IRA state withholding on distributions from an IRA account. The system will look at the State Withholding Percent field on the IRA Profile dialog box to determine the percentage to use to calculate the IRA state withholding. If the State Withholding Percent field displays 00.00, and the State W/H check box is selected, the system will use the amount from the Calculate State field on the Credit Union Profile - Shares tab. The system will multiply the percentage times the interest earned to calculate the IRA state withholding amount. If both the State Withholding Percent field and the Calculate State field are 0.00, you cannot select the State W/H check box.

Keyword: SW

Select this check box to provide overdraft protection on the transfer. This overdraft protection will process the same as the member's current share draft overdraft process.

Keyword: AO

Select this check box to count the transfer as a Reg D transaction. The number of transfers is stored in the Period-to-Date Reg D Txns field on the Shares - Activity tab. The transfer will exception if the maximum Reg D transfers specified in the Reg D Transactions field on the Share Profiles - Account Information tab has been reached.

Keyword: RD

An optional description that may be used internally or displayed on the member's history and statement. This description will not be used for cross-member accounts and will not replace the system-generated description for safe deposit box payments.

Length: 44 alphanumeric

Keyword: TD

Select this check box to display the description on the member's history and statement as both the To and From account descriptions in lieu of the system-generated description.

Keyword: ST

The member number the funds will be transferred to. Click the member lookup button to open the Member Search dialog box and locate a member. To pay safe deposit box fees using Transfer File, leave this field blank. Cross-member transfers cannot be used to pay safe deposit box fees.

Length: 12 numeric

Keyword: M2

The type of account that the funds will be transferred from and to. The valid values are:

Share

Certificate

Loan

Check

GL

Safe Deposit Box

Keyword: TT

The share type, certificate number, note number or general ledger number of the account that the funds will be transferred from or to.

For share, certificate, loan, or commercial loan, click the down arrow to select the share type, certificate number, or note number.

For general ledger, enter the account number.

For sweep processing, enter the interest-bearing share account information in the Acct Type/Acct ID field. The interest-bearing account must be for the same member number.

For a safe deposit box, the default general ledger account that will receive safe deposit box rental fees Credit Union Profile - Products & Services tab will appear in this field.

Keyword: TC

The branch location of the general ledger that the funds will be transferred to.

Length: 3 numeric

Keyword: BG

The code identifying the message that will print on the member's statement when funds are transferred from a member account to a general ledger account.

For safe deposit box payments, the Message Code field should be BE to ensure the correct transaction message is used on the member statements.

Length: 2 alphanumeric

Click the down arrow to select the correct IRA deposit code if the funds will be transferred to an IRA account. Click here to view a list of the valid deposit codes. For transfers, only the following deposit codes are supported: A, C, I, X, and Y.

Keyword: YC

Click the down arrow to select how transfers to checks will be consolidated for the member. Check consolidation can only occur on checks from transfers with the same post date and effective date. The valid values are:

TA - Consolidate transfers from IRA and non-IRA accounts into one check.

TI - Consolidate transfers from IRA accounts into one check.

TR - Consolidate transfers from non-IRA accounts into one check.

Keyword: CH

The credit union branch number where the safe deposit box is located. This field only appears if Transfer File will be used to pay the rental fees for a safe deposit box.

Length: 3 numeric

Keyword: LO

The credit union-defined ID associated with the safe deposit box. This field only appears if Transfer File will be used to pay the rental fees for a safe deposit box.

Length: 6 alphanumeric

Keyword: SB

Enter the name of the individual or organization receiving the check. The system will print the name specified in this field on the check instead of the name associated with the member number.

Length: 32 alphanumeric

Keyword: NM

Enter the first line of the check recipient's address. Portico will print the information specified in this field on the check instead of the member's address from the Contact Information tab. You can type a second payee name in this field instead of the address.

Length: 24 alphanumeric

Keyword: A1

Enter the second line of the check recipient's address. Portico will print the information specified in this field on the check instead of the member's address from the Contact Information tab. If the Foreign check box is checked, the foreign city's name must reside in this field.

Length: 24 alphanumeric

Keyword: A2

Enter the third line of the check recipient's address. Portico will print the information specified in this field on the check instead of the member's address from the Contact Information tab. This field is required if the Foreign check box is checked. On a foreign address, only the first 18 characters are allowed. If the Foreign check box is checked, the maximum field length is 18 alphanumeric. If the Foreign check box is selected, the foreign country's name must reside in the Address Line 3 field. Enter the foreign country code in the Address Line 3 field. field. For Canada, enter the country name and province code in the Address Line 3 field.

Length: 20 alphanumeric

Keyword: A3 or N2 (The keywords A3 and N2 cannot be used together if you perform the transaction using speed input.)

Enter the postal ZIP Code for the address listed. Portico will print the ZIP code specified in this field on the check instead of the member's ZIP code from the Contact Information tab. For domestic addresses, the ZIP code must be either 5 or 9 digits. For foreign addresses, the ZIP code can be up to 10 characters.

If the Address is Foreign check box is not selected:

• A valid ZIP Code must be entered without the dash.
• Alpha characters are not allowed.

If the Address is Foreign check box is selected:

• The member ZIP Code field is optional.
• Alpha characters are allowed.

Length: 9 numeric (10 alphanumeric if the Address is Foreign check box is selected.)

Keyword: ZP

Reporting Analytics: MBR Zip Code Dash (Located in Member Information/Member Base subject and Month-end Information/Member Month-end/ME Member Base subject)

Select this check box if the alternate address is foreign. If the Foreign check box is selected, the foreign city's name must reside in the Address 2 field. In the Address Line 3 field, enter the foreign country code. For Canada, enter the province code in the Address Line 3 field.

Keyword: FF