Loan Advances

This allows you to advance money from a loan account with advancing permissions to a DDA account, specifying an amount to advance and when you would like it to advance.

Only advancing loans that you are granted Allow Advance permissions for will appear under the Loan drop down list. The Maximum Advance Amount field will display the unadvanced amount of the loan. You will not be able to submit any Now advances that exceed the Maximum Advance Amount. However, you will be able to submit any Specific Date or Recurring advances that exceed the amount.

Once a Specific Date or Recurring advance has been submitted, it will appear in the Scheduled Advances grid. You can then edit or delete the advance if you choose to do so.

To begin, select Move Money >> New Transaction:

Choose the account from which you would like to advance the money.

Choose the account to which you would like to advance the money.

Fill in the applicable fields and select Continue.

Note the max advance amount listed.

• Amount: Enter the dollar amount you wish to transfer from one account to the other.
• When should it occur?: Select when you would like the money to transfer.
• How often should it occur?

  Just Once:

  • Now will allow the money to transfer immediately.
  • Specific Date will allow you to select the date you wish the money to transfer. Either enter the date in the date field or use the calendar button to the right of this field to select a date.

  Weekly: will allow this transfer to take place weekly on the day of the week that you choose, by selecting a day in the drop-down day of week. You will need to pick a day of the week either on (or near) the same day of the week the first payment was scheduled.

  Every Other Week: will allow this transfer to take place every other week. You will need to pick a day of the week, either on (or near) the same day of the week the first payment was scheduled.

  Monthly: will allow this transfer to take place once a month. You will need to pick the day of the month either on (or near) the day of the month the first payment was scheduled.

  Every Other Month: will allow this transfer to take place every other month (or every two months). You will need to pick the day of the month either on (or near) the day of the month the first payment was scheduled.

  Every Three Months: will allow this transfer to take place every three months. You will need to pick a day of the month either on (or near) the day of the month the first payment was scheduled.

  Every Six Months: will allow this transfer to take place every six months. You will need to pick a day of the month either on (or near) the day of the month the first payment was scheduled.

  Yearly: will allow this transfer to take place once a year (or every 12 months). You will need to pick a month and a day of the month on (or near) the date the first payment was scheduled.

  Note: If desired, enter a Description for the transfer, such as "Prevent overdraft," "Cover check #3342," or "Christmas gifts."

• Beginning Date: Enter the date you would like this transfer to begin.
• Ending Date: Enter a date in which you want the automatic transfer to stop if you have selected Recurring.
• Holiday: If your transfer falls on a holiday, you have the option to set it to process the next business day after the holiday.

A review screen will then appear. If all fields are correct, select Submit.

A confirmation screen will appear:

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