Microsoft KB Archive/163515

Money 5.0: How to Create and Set Reminders for Xfers

PSS ID Number: Q163515 Article last modified on 09-13-1997

5.00

WINDOWS

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The information in this article applies to:

 == Microsoft Money, version 5.0 == 

= SUMMARY =

In Money 5.0, an electronic transfer is called an Xfer. You use Xfers when you want to transfer money electronically between two accounts, such as Checking, Savings, Credit Card, and/or Line Of Credit accounts. In Money 5.0 Xfers can be entered from within the Home Banking Area of Money or in the Account Register. You can also set Money to remind you to send Xfers.

This article describes how to enter electronic transfers and reminders in Money 97, version 5.0.

= MORE INFORMATION =

For the Xfer to work, both accounts need to meet the following criteria:


 * Accounts must be enabled for Online Banking with Online Services.
 * Accounts must be with the same partner financial institution.

Electronic transfers (Xfers) usually occur on the same business day that you send the instruction. If the instructions are sent too late, the transfer occurs the next business day. Business days are Monday-Friday, excluding Federal Reserve Bank holidays. Your bank or financial institution can tell you what their daily cut-off time is for transfer processing.

Some financial institutions allow you to schedule Xfers for future dates. Some financial institutions require that you send the Xfer on the day you intend to transfer the funds. If your financial institution does not allow you to send Xfer instructions in advance, you receive the following error when you create an Xfer transaction with a future date:

Online Banking will only process transfers with today’s date (X/XX/XX). Do you want to use today’s date?

All transfers are processed by Online Banking at the end of the day. On business days, if you send a transfer before the bank’s evening cut-off time, it will be processed that day. If you send it after cut-off time, it will be processed at the end of the following business day. Transfers to and from credit card accounts have an additional one-day delay. Transactions sent on holidays or weekends will be processed at the end of the following business day.

You cannot set these up in advance but you can have Money remind you to enter the transfers. To set up transfers and reminders, follow the steps listed below.

To enter an Xfer from within the Home Banking area of Money, do the following:

  In the Home Banking area, click the triangle to the left of the bank name on the navigation bar, and select the correct bank from the list.   On the Connect tab, click Create Transfer.   Enter the transfer information in the Edit Transfer dialog. Note that Xfer is already in the number field.   Click OK after all other information is entered. The transfer instruction is automatically added the “Transaction To Send On Next Call” list. It is also automatically added to the account register for both sides of the transfer.   When all your instructions are ready, click Connect to send the instructions. 

To enter an Xfer in the Account Register of Money, do the following:

<ol style="list-style-type: decimal;">  In the Account Register, click the triangle to the left of the account name on the navigation bar, and select the account you want to transfer the money from. </li>  Click the Transfer tab. </li>  Enter the transfer information as you normally would, except in the Number field, click Electronic Transfer (Xfer). You can also enter information in the Pay To field, but this information isn’t sent with your instructions. </li>  When you are finished, click Enter. In the register, a lightning bolt and an open envelope appear in the Number field next to the word, Xfer. </li>  Click Home Banking, located under Reminders in the status area on the right. </li>  On the Connect tab, review the Transactions “To Send On Next Call” list. </li>  When all your instructions are ready, click Connect to send the instructions. </li></ol>

NOTE: After the transfer instructions are sent, a closed envelope in the Register replaces the open envelope symbol. This reminds you that this transfer was sent using Home Banking.

You can have Money remind you to send transfer instructions to your financial institution by entering a transfer in the Payment Calendar. Then, on the day you send the instructions, indicate that it is an Xfer. To use Payment Calendar to remind you to send Xfer instructions, do the following:


 * 1) In the Payment Calendar, click New. This launches the Create New Recurring Payment Wizard.
 * 2) Click the Transfer option, and then click Next.
 * 3) Click Next again to bring up the form to enter the Transfer.
 * 4) Use the TAB key to move to each field as you enter all necessary transaction information. Leave the Number field blank.
 * 5) Click OK. The reminder is now setup in the Payment Calendar.
 * 6) Once you are ready to enter the Transfer, select it by putting a checkmark in the box and click the Enter button.
 * 7) In the Number field of the Enter Recurring Transfer dialog box for the transfer, type “Xfer,” (without quotation marks). Review the remaining information.
 * 8) Click Enter to add the payment to the Account Register.
 * 9) Click Home Banking, located under Reminders in the status area on the right.
 * 10) On the Connect tab, review the Transactions “To Send On Next Call” list.
 * 11) When all your instructions are ready, click the Connect button to send the instructions.

For instructions on how to perform these steps in Money versions 4.0 or 3.0, please see the following article in the Microsoft Knowledge Base:

ARTICLE-ID: Q147895 TITLE : Money: How to Enter Xfer and Setup Xfer Reminders

KBCategory: kbhowto KBSubcategory: kbonline Additional reference words: 5.00 w_money 97 money97 transx trans x-fer e- trans Ham

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========================================================= Keywords : kbonline Version : 5.00 Platform : WINDOWS ============================================================================= Copyright Microsoft Corporation 1997.