Internal transfers

Internal transfers are the most common transfer type for your end users: moving money between accounts within your institution. While performing the transfer is a simple task for the user, the action behind the scenes can be complex. Transfers vary based on when they are performed, how they are scheduled, and the core your institution uses.

Immediate internal transfers

When a user does not set a future date for a transfer, the transfer is processed as soon as possible. We call these transfers immediate transfers. These transfers will be posted as soon as possible and cannot be edited or reversed through Banno Apps.

Processing immediate transfers

Immediate internal transfers are written directly to the JHTRAN file in your institution’s core after verifying available funds.

Verifying available funds

When a transfer is submitted, the Banno Platform sends the transfer amount and an available balance table number to your institution’s core. The core determines if there are sufficient funds based on a calculation using that table number. The table number used depends on the type of NetTeller ID used for each end user.

Retail IDs

Retail end users utilize a table number configured in Banno. If your institution has migrated from NetTeller, this number will usually be an equivalent value to the one used in NETPAR Internet Banking General Parameters.

Cash Management IDs

Cash management end users use the table number set in NetTeller for their NetTeller ID.

If sufficient funds cannot be found, the end user will receive an error notifying them that they have insufficient funds to complete the requested transfer.

Posting immediate transfers

Immediate transfers memo post as soon as the end user enters the transfer. Transfers are hard posted during the end-of-day (EOD) process. While the transfer screen can display a cutoff time to the end user if configured in Banno People, this EOD core process determines when a transfer hard posts. If an end user enters a transfer after EOD has already begun, the transfer will be hard posted the next processing day.

For example, your institution set its Banno configuration to display a 6 pm cutoff for internal transfers, but you don’t run EOD until 7 pm. Assuming Wednesday is a processing day, your end users will see the following:

• A “Soonest possible” internal transfer submitted by an end user at 5 pm on memo posts right away and hard posts during EOD.
• A “Soonest possible” internal transfer submitted by an end user at 6:30 pm memo posts right away and hard posts during EOD.
• A “Soonest possible” internal transfer submitted by an end user at 10 pm memo posts right away and hard posts during EOD the following processing day.
• A future-dated transfer submitted at any time uses the AFT system and processes and posts according to your institution’s AFT parameters.

Editing immediate transfers

Immediate transfers cannot be edited or reversed through Banno Apps. If a user wishes to edit or reverse a transfer they have submitted through Banno Apps, they must contact their financial institution to do so.

Future internal transfers

Future-dated and recurring transfers are a bit more complex than immediate transfers. Both future-dated and recurring transfers use the same mechanisms within the Banno Platform, specifically utilizing Automated Fund Transfers (AFTs) to perform all scheduled transfers.

Processing future transfers

As the AFT system does not support one-time transfers, one-time future-dated internal transfers are created as monthly recurring transfers. These transfers then expire after the first instance of the transfer has occurred. While end users see these transfers as one-time transfers in their app, enterprise users at your financial institution see these transfers in core as monthly transfers.

Note for NetTeller users

If your institution uses NetTeller alongside Banno Mobile instead of Banno Online, future internal transfers created in one system are usually not displayed in the other. If your institution has configured NetTeller to show AFT transfers, Banno transfers will be visible in NetTeller. While generated transactions are visible in both systems, transfers are best managed in the system they were created in.

Verifying available funds

AFT parameters determine if there are enough available funds to complete a transfer at the time the transfer is scheduled to complete. As this verification is based on AFT parameters rather than the table numbers immediate transfers use, the results of each verification method may differ.

Posting future transfers

AFTs created through banno will memo post and hard post based on your institution’s AFT parameters. This means your configuration will determine if future transfers created by your end users are memo posted, as well as when they memo post if so.

For detailed information and help with your institution’s AFT parameters, please reach out to your core support representative to ensure that changes made for usage with Banno do not affect any other uses of AFT for your institution.

Canceling future transfers

Future and recurring transactions can be canceled at any time before processing. The end-user can select the transfer from the Transfers screen and cancel the transfer using the Delete button.

Transaction codes

The Banno Platform determines which transaction code to apply to any transfer based on the types of From and To account for each transfer. The defaults assigned by the Banno Platform are the most reliable codes to ensure all apps work properly. If your institution needs to change any of these transaction codes, please contact your support representative.

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