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About Recurring Transactions

The last step in setting up a deposit or withdrawal transaction before you submit the transaction request is the option to create a recurring transaction based on your transaction request.

• You can view and delete existing recurring transactions.
• You can set up all deposit and withdrawal transaction types to be recurring transactions EXCEPT Direct Rollovers and Trustee-to-Trustee deposits, which are only available for IRA accounts.

In a funding transaction request, after you enter all of the information about your financial institution, you are prompted to create a recurring transaction:

If you answer no, you can submit the transaction request and no recurring transaction will be created. If you answer yes, the recurring transaction fields appear:

To set up a recurring transaction, you specify the following information:

• A name. This is the name of the saved recurring transaction and it appears in the list on the Recurring Transactions page.
• Frequency - Schedule the transaction to recur at monthly, quarterly or annual intervals.
• A start date, in the format mm/dd/yyyy, or use the calendar icon to select a date. This indicates the first date that the recurring transaction should be processed.
• An end date, in the format mm/dd/yyyy, or use the calendar icon to select a date. This indicates the last date that the recurring transaction should be processed.
• If you have an IRA account, you must also specify:
• For deposits, tax year (current only) and deposit type (Contribution only).
• For withdrawals, the percentage of tax to be withheld the distribution type.
• You can also specify that a recurring transaction has no end date and therefore will not expire until you delete it. You do this by selecting the Endlesscheck box.

When you submit your transaction request, the recurring transaction information you entered will also be saved and the transaction will recur at the frequency and on the start date that you entered.

In the event the transaction falls on a US non-business day under normal circumstances, we will process the request on the business day prior to the recurring transaction date. In the even this processing leads to multiple withdrawals during the same month, the account holder will be assessed withdrawal fees.

Canceling a Recurring Transaction

To cancel a recurring transaction, delete the recurring transaction from the Recurring Transaction page.

For more information

• Funding Reference