An Email Money Transfer resembles an e-check in many respects. The money is not actually transferred by e-mail. Only the instructions to retrieve the funds are.

An Email Money Transfer resembles an e-check in many respects. The money is not actually transferred by e-mail. Only the instructions to retrieve the funds are.

• The sender opens an online banking session and chooses the recipient, the amount to send, as well as a security question and answer. The funds are debited instantly, usually for a surcharge.
• An e-mail or text message is then sent to the recipient, with instructions on how to retrieve the funds and answer the question, via a secure website.
  • If the recipient is subscribed to online banking at one of the participating institutions, the funds are deposited instantly at no extra charge.
  • If the recipient's deposit account is not at one of the participating institutions or not subscribed to online banking at all, the funds are deposited within three to five business days, and a surcharge (currently $4.00) is deducted from the amount received.