Questions members frequently ask about Bank-to-Bank E-Transfers

How secure is my transaction?
Ensuring your information remains confidential is our first priority. Our security system uses the latest in technologies, standards, and business practices - firewall protection, password and data security, secure socket layer, audits and inspections, data integrity, and physical security.

How often can I transfer funds?
You can transfer funds 24 hours a day, seven days a week.

How much can I transfer?
Your initial transfer limit is up to $500 per day per account transfer. You can apply to increase your limit for pre-approved transfers by emailing us at etransfers@laketrust.org

• Include your name
• Include the name of the other financial institution
• Include the new transfer limit you'd like

Remember, email is not secure. For your protection, don't include any private information in your email (i.e., account number). We'll review your application for an increase, and email your approval status to you.

How long does it take to transfer funds?
After you submit your initial transfer request, approval normally occurs within a 24 hour period, but may require up to three business days. Once your account is approved, you can transfer funds at your convenience. Typically, it takes two to three business days for transferred funds to be accessible.

After I have set up an account to transfer funds to, can I transfer funds in the opposite direction?
Yes. You need to submit a separate transfer request and receive approval. For example, if you're approved to transfer funds from ABC Financial to Lake Trust, you need to submit a separate request to transfer funds from Lake Trust to ABC Financial. You can submit multiple transfer requests at one time.

Can I transfer funds internationally or to other funds transfer companies such as Western Union?
Not at this time. Bank-to-Bank E-Transfers can only occur between financial institutions located within the United States with a valid routing number.

What is a routing number?
The routing number (sometimes called a routing and transit number) is a nine-digit number unique to each financial institution. Think of it as a numerical address. Lake Trust's routing number is 272078268. If you have a checking account at another financial institution, you can find the nine-digit routing number on the bottom line on your checks, either at the left or centered. For a savings account routing number, check with your financial institution.

How does the approval process work?
To ensure the security of your transaction, we verify the information you provide in our database. After you receive an e-mail approval from us, you can begin to request transfers.

When I entered an amount to be transferred and submitted the transfer, I received the message "You entered an invalid amount."
When you enter the dollar amount of your transfer, don't enter the dollar sign ("$"). Click the "Back" button on your browser and re-enter the dollar amount using only numbers.

When I enter the requested bank account information, what goes in the description box?
This field is for your personal use. Enter any descriptive word or sentence that helps you identify the transaction.

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