When setting up electronic transfers to your bank account, you will complete four steps.
Step one: Agreement. You must agree to the terms to continue with the set-up process. The agreement details information including as to how errors are handled, how to cancel electronic transfers and time frames. Please read the Terms and Conditions carefully. Check "I have read and understand the terms and conditions and agree to the terms as listed" if applicable.
Step two: Banking information. Specify your banking information preferences.
One-time distributions including loan proceeds:
To add or update banking information, select the type of account (e.g., savings or checking), enter your bank's ABA routing number, enter and verify your bank account number, then click "next" to review the information. To remove banking information, click the box that states, "Remove banking information on file." Click "next" to review and verify you want to remove the banking information on file for one-time distributions.
Step three: Review. You will review your requests or you may go back to the previous screen to change or cancel the request. To confirm your requests click "next".
Step four: Confirmation. The banking information that will be used on all future distributions will be displayed. You can print this page for your records.
EFT periodic required minimum or systematic distributions banking information on file is listed under "Periodic distributions." To update the banking information, select the type of account (e.g., savings or checking), enter your bank's ABA routing number, enter and verify bank account number, then click "next" to review the information.