What is an Internal Transfer?
Internal transfers are transactions that allow account holders to move funds between different accounts they own within Grasshopper Bank. This can include transferring money between checking, savings, or other business accounts. Internal transfers are typically processed quickly since they occur within the same bank, providing instant or same-day access to the moved funds.
Benefits for Commercial Clients
Commercial clients can move money between their Grasshopper accounts rapidly, ensuring that funds are available where they’re needed. Whether it’s moving money between operating accounts or allocating funds to cover payroll, internal transfers offer flexibility and efficiency outside of regular banking hours.
How it Works
Clients can use Internal Transfers to move funds between Grasshopper Bank accounts.
Using Internal Transfers
To initiate an Internal Transfer between your Grasshopper accounts:
- Tap Transfers in the navigation bar
- Select Internal Transfers
- Select the account you wish to transfer funds from
- Select the account you wish to funds to
- Enter the amount
- Add an description (optional)
- Set the frequency (optional)
- Tap Continue
Downloading the App
To use our Commercial Banking mobile app, you will need to download it in the Apple App Store or Google Play store.