Completing a Bank Transfer
Completing a bank transfer on the XYIS platform is a breeze. Below we'll show you the steps to take to move money to or from your clients' accounts using the XYIS platform.
1. Click on the "Bank Transfer" button in the top left-hand corner of your screen.
2. Select the client's name for whom you will be completing the bank transfer, then select the brokerage account for that client that will be sending or receiving the funds.
3. The platform allows you to set up a transfer to or from the account. Select the appropriate direction and click "Next".
4. On the next page you'll see a number of steps to walk through.
Step 1: Selecting "Establish New Instructions" will create a new bank transfer. This will create a new bank transfer and keep all existing transfers in place (unless you select a bank account with a recurring transfer already set up, which case it will replace those instructions). If you choose "Replace All Existing Instructions", all current transfers on this account will be replaced by the instructions you're creating now.
Step 2: Select the account you want to deposit or withdraw the funds from.
Step 3: Select the bank to withdraw or deposit funds from or to. Any bank accounts already used in previous bank transfers for this client will display in the dropdown. If you are setting up a new bank account and do not have all the required information, you do have the option to send these fields to your client for their completion by checking the box next to "Have client complete the bank account information".
Step 4: Choose the start date, amount, and frequency of your bank transfer. If this is a recurring transfer, there are a number of frequency options to choose from.
Step 5: Attach a copy of a voided check or bank statement. This allows TD to verify the names on the account and significantly reduces the chances of a NIGO on this request. Once added, hit "Next" to move to the next page.
5. After finalizing the details, hit "Confirm" and your request will be submitted to the client for signature before it goes to TD!
As always, please email email@example.com or call (360) 301-7579 if you have any questions!