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You have the ability to create a recurring transaction for some types of
payments or transfers. A recurring transaction happens on a preset schedule
that you determine. Each recurring instance of the transaction is scheduled
when the previous instance of the transaction has been processed or completed
and is displayed under the Accounts>Online
Activity menu. You can review or delete the recurring transaction (i.e.
all future instances of the transaction) under the Transactions>Recurring
menu. On transactions that can be created as recurring, you may see the
following expandable panel. To expand the panel, you can single-click on the
double carat on the right side of the panel, or double-click anywhere in the
panel.
- Select the ‘Recurring Transfer’ radio button. The recurring
parameters are now available for selection.
- Select the recurring ‘Frequency’. The choices are:
- - select this option if you want a transfer to occur one
or more times a week, either every week or every ‘X’ weeks.
Weekly Example:
You receive a direct deposit of your paycheck every other Friday and you want
to transfer funds from checking account A to savings account B on Friday
every 2 weeks.
- - select this option if you want a transfer to occur one
or more times a month, either every month or every ‘X’ months. When you
select Monthly Transfers, you have a second ‘Recur By’ selection for
either ‘Days of the Week’ or ‘Calendar Days’.
Days of the Week Example:
You have a payment that is due on the last Friday of every month which will
end after 24 payments
Calendar Days Example:
You receive a direct deposit of your paycheck on the 1st and 15th
of every month, and you want to transfer funds from checking account A to
savings account B on payday.
NOTE: If you pick a calendar day that extends beyond the number of days in a
given month, that instance of the payment or transfer will always occur on
the last day of the month. In the example above, although the payment day is
the 31st, a February payment would occur on February 28th, and a June payment
would occur on June 30th.
- Select the ‘Start Date’ – this date will generally be set
to the first occurrence of the payment or transfer, but is not required
to be. For example, if you establish a monthly payment on the 1st and
15th of every month, and set the start date of the 10th of the month,
the first payment would be processed on the 15th, as scheduled.
- Select the ‘End Date’ – you can choose 1) No end date, 2)
to end after a specified number of occurrences or, 3) to end on a
specific date.
- Select ‘Continue’ – you will be directed to the Transaction Preview
page and given the opportunity to review your recurring transaction.
From the preview page, you can ‘Draft’ (save for later), or ‘Approve’
the transaction. You can also Send a Mobile
Authorization request for approval.
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A: You can cancel a single occurrence of a recurring transaction in Online
Activity. Note that each recurring instance of the transaction is scheduled
only when the previous instance of the transaction has been processed or
completed and is displayed under the Accounts>Online Activity
menu. Find and click on the instance you wish to cancel and select ‘Cancel
the selected transaction’. The transaction will be cancelled without
affecting the other occurrences of the transaction.
A: You can cancel all occurrences of a recurring transaction by cancelling
the transaction under the Transactions>Recurring
menu. Click on the recurring transaction you wish to cancel and select
“Cancel the selected transaction’ from the drop-down box. Click ‘Submit’ and
you will be asked to confirm the cancellation.
A: No, recurring transactions may only be created or cancelled. You can also
cancel individual occurrences of the transaction under the Accounts>Online Activity
menu.
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