Transfers Guide

Our digital platform offers both internal and external transfer capabilities to support your day-to-day business operations. Whether you are actively managing daily cash flow, responding to immediate funding needs across your accounts, or routing payments to external partners and vendors, this guide outlines the step-by-step processes to execute your transactions efficiently.

💡Tip: Fees, transfer limits, and cut-off times vary by transfer type. Select View your transfer limits and disclosures at any stage during the workflow to review the details specific to your account. To ensure your transfer qualifies for same-day processing, please review our daily transaction cutoff times before submitting.

Internal Transfers

1. Login to Online Banking
2. Select Transfer & Pay
   • You can also select Transfers in the drop-down menu to bypass step 3
3. Click Transfer
4. Fill in the transfer details: 
   1. Enter the amount ($)
   2. Select the account you want to withdraw funds from
   3. Select the account you want to send funds to
5. Click Next
6. Fill in the additional details:
   1. Choose a Frequency 
      • Once, Daily, Weekly, Every two weeks, 1st and 15th,  Monthly, or Yearly
   2. Select a Date to send the funds
7. Add a Memo (Optional)
   • This could be a note that references what the transaction is for.
8. Click Next
9. Review your transfer
   • Clickthe back arrow to modify, if needed. 
10. Click Send Money. 

⚠️ Important Note:  A success message will display when the transfer is submitted.

External Transfers

1. Login to Online Banking
2. Select Transfer & Pay
   • You can also select Transfers in the drop-down menu to bypass step 3
3. Select Transfer
4. Fill in the Transfer details: 
   1. Enter the amount ($)
   2. Select the account you want to withdraw funds from
   3. Select the account you want to send funds to
5. Click Next
6. Select Delivery Speed
   • Arrives Instantly: Real-time transfer. Funds are available in seconds. 
     • Only available for one-time transfers to eligible accounts, not recurring transactions. 
     • To qualify, the receiving institution must be a participant in the FedNow® network, and the linked external account must be enabled to receive instant payments.
     • Instant payments are subject to a fee of 0.65% of the transfer amount, with a $1 minimum and $10 maximum per transfer. 
   • Arrives in 1-3 Business Days: Standard ACH transfer. Funds availability depends on the receiving institution. 
7. Choose a Frequency
   • Once, Daily, Weekly, Every two weeks, 1st and 15th,  Monthly, or Yearly. 
   • Only the standard delivery option (1-3 business days) is eligible for recurring transactions. Instant transfers are not eligible.
8. Select a Date to send the funds
9. Add a Memo (Optional)
   • This could be a note that references what the transaction is for.
10. Click Next
11. Verify your identity (If applicable)
    • For your security, you may be asked to verify your identity via a code sent to your email or mobile device.
    • Enter the code and select Continue.
12. Review your transfer
    • Select the back arrow to modify, if needed. 
13. Select Send Money. 

⚠️ Important Note: A success message will display when the transfer is submitted. If we are unable to process your instant transfer, please retry your transfer with the standard delivery speed. Transfers initiated through our platform are subject to limits based on your business profile, product type, and transaction activity. However, funds transferred into your Grasshopper account from an external financial institution are not subject to these limits or restrictions. To learn more, refer to our Master Service Agreement.

Additional Resources 

Before initiating high-value or time-sensitive transactions, consult these guides to ensure smooth processing.

Support

If you encounter any issues or need further assistance, you contact Client Services Monday-Friday 9am-9pm ET by dialing 888.895.9685 or emailing support@grasshopper.bank.

For your convenience, we also offer support via secure message or chat.