The Digital Banking Upgrade expands transfer capabilities.
Key benefits
As a First National Bank Alaska customer, you will be able to transfer funds between your own accounts, other eligible First National accounts and eligible external financial institutions.
You can add a description to all transfers
You can pay your First National loans from accounts at other financial institutions
Overdraft protection transfers involving repo, savings, or sweep accounts will look different in the new online and mobile banking platform and customers may need to adjust how they transfer funds from these accounts.
Primary benefits
- More flexibility in how you move money
- Ability to transfer funds to other First National Bank Alaska customers through digital banking
- Convenient transfers between accounts at First National Bank Alaska and other financial institutions
- Expanded self-service transfer capabilities
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Are there times when I am unable to make transfers?
You cannot transfer funds between your accounts or to other First National accounts daily from 9 p.m. to 11:59 p.m.(AKT). You have the option to schedule transfers outside of that time window.
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Are there transfer limits?
Yes, limits are still being determined.
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Can an employee see my scheduled transfers?
Yes, employees with the appropriate system access can view scheduled transfers to assist you with questions, troubleshooting and transfer management. Access is limited based on job responsibility and security permissions.
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Can I search for the transfer using the confirmation number?
No, the new platform does not provide a confirmation number search. You’ll search by account, amount, date or transfer history.
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Can I still transfer funds between my own First National accounts?
Yes. You will continue to have the ability to transfer between your eligible First National accounts.
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Can I use transfers to pay off my First National personal loans?
Yes. You can use an internal transfer to pay off loans in First National’s core.
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How do I cancel my Auto-Pay?
Review the Transfer Activity page, select the transfer you would like to cancel to show more details and click Cancel Transfer.
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How do I make an additional payment to Principal/Interest/Escrow?
Click on Transfers > First National Transfers > Make a Transfer. Under Payment Options, you will have the option to select Payment Due (this option will show the payment amount next to it), Principal-Only Payment, Interest-only payment, and Escrow-Only Payment (this option will only appear on real estate loans).
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How do I set up Auto-Pay?
Click on Transfers > First National Transfers > Make a Transfer. Under Schedule, select Recurring. Secondary options include Frequency or payments, Start Date and Duration.
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How long will transfers be pending before they are processed?
Internal transfers take place immediately, while external transfers processing times may vary based on the transfer type, destination institution, and cut-off times.
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How will external transfers work?
You can link eligible external accounts, verify ownership and initiate transfers between First National and other financial institutions. Transfer limits and processing times will apply.
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If I don’t want to verify my account instantly, I can manually verify my account in 1 to 3 days with small deposits posted to the account. Will that work for customers who don’t have online credentials or who don’t want to enter them?
Yes. If you choose not to verify your external account instantly, you can complete the verification later using the small deposit (micro-deposit) process. The deposits typically appear within 1-3 business days, after which you can return to Digital Banking to finish verification.
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If I send a transfer to another First National customer, do they need to file a dispute?
Electronic transfers of all types fall under Regulation E, therefore if funds are sent fraudulently, normal dispute or transfer investigation procedures apply.
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Is there a character limitation when entering the name in the unlink account?
Yes, external account nicknames have a 30 character limit. You should use a concise nickname.
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Is there a dollar limit for Unlink and External transfers?
There is no limit on transfers between a customer’s own accounts and there is no limit on transfers from a customer’s First National account to another First National customer account. External transfer limits are still being evaluated.
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Is there a set time a transfer will be in pending before it gets processed?
Internal transfers take place immediately. External transfers processing times vary based on the transfer type, destination institution, and cut-off times.
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What are External Transfers?
External Transfers is a feature powered by TransferNow that allows you to transfer funds between your First National Bank Alaska accounts and accounts you own at other financial institutions.
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What are the transfer limits?
Customer account to account transfers: No limit, Transfers to a different First National customer’s account: $3,000 daily limit, Transfers between First National and other financial institutions: TBD, Transfers to your First National account: TBD, and Transfers from your First National account: TBD.
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What do I need to know about Low-balance threshold transfers?
Low-balance threshold transfers are not available at launch.
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What do I need to know about overdraft protection transfers involving repo, savings or sweep accounts?
Overdraft protection transfers involving repo, savings or sweep accounts will look different.
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What do I need to know about Pre-upgrade transfers?
Pre-upgrade transfers cannot be edited; delete and recreate them if changes are needed.
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What do I need to know about Single lump-sum book transfers?
Single lump-sum book transfers are supported.
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When is the cutoff each day for transfers to go through as same day transactions?
Transfers submitted after 9 p.m. (AKT) will be processed by the core banking system on the next business day. The current system processes transfers the same day, regardless of the submission time.
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Will a transfer also close?
If an account that is associated with a scheduled transfer is closed, the transfer will no longer process. Customers should review any recurring transfers when closing an account and establish a new transfer schedule if needed.
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Will customers have the option to transfer funds to a different institution (not Zelle) with the new digital platform?
Yes, customers will be able to link external accounts and transfer funds between First National and other financial institutions through the external transfer functionality.
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Will External Transfers be available in both online and mobile banking?
Yes. External Transfers will be available through both online and mobile banking.
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Will I be able to request to remove the transfer option in online banking?
No, transfers is a standard feature within online banking. A user can choose to not use the service but the menu option will still display. Business customers have the option to turn off the transfers entitlement.
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Will I be able to see when the transfer was originally created?
Existing recurring transfers should migrate, but the original creation date may not always display after conversion. You will continue to see the next scheduled transfer and recurrence details.
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Will I need to verify transfer approval permissions after go-live?
You should verify transfer approval permissions after go-live.
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Will I need to visit a branch to set up External Transfers?
No. You will be able to add and manage eligible external accounts directly within digital banking, subject to verification and eligibility requirements.
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Will restrictions set now in the app transfer over?
Existing transfer limits and security restrictions generally migrate as part of conversion.
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Will Transfer approval levels transfer to the new platform?
Transfer approval levels will transfer to the new platform.
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Will Transfer process looks different, but functions similarly?
Transfer process looks different but functions similarly.
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With all of the transfers- if it is a joint account, can either user/owner see or change/delete scheduled transfers?
No – Transfers are only visible to the user that initiated the set up.
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With the digital banking upgrade will I be able to add a memo when I make an internal transfer? I think Zelle might currently have the option but I don’t see that option or field when I make an in-house online transfer.
Yes, you can add a description.