Education » Articles » Money Link: The Free Online Transfer Solution
Money Link: The Free Online Transfer Solution
Have you ever had to deposit a check but found you were too short on time to make it to a branch? Or have you been in a situation where you needed to pay somebody back, but you didn't have your checkbook or extra cash? UW Credit Union offers a way to avoid these dilemmas; an online transfer service called Money Link, so you can transfer funds between people electronically—quickly, securely and for free.
What is Money Link?
Money Link initiates transfers to receive funds from other people, or transfers to send funds from your account to another UW Credit Union member. It also allows a non-member—like a friend or your parents—to transfer funds from their non-UW Credit Union account(s) to your UW Credit Union account electronically.
What are some popular ways to use Money Link?
- Have your roommates reimburse you for monthly rent or utility bills you paid.
- Receive money from your parents for expenses such as books or tuition. Set up a one-time transfer, or set up recurring transfers—like at the beginning of each semester.
Is Money Link secure?
Your account information is kept completely confidential and secure—we do not share your account number or other identifying information with anyone. We also provide the highest level of website security that current technology offers.
How do I use Money Link?
To start using Money Link, members can log in to Web Branch and visit Money Link on the Transfers & Payments page.
- Receive Funds by Sending a Money Link
If another person needs to transfer money to you, you can send them a Money Link invitation.
To send an invitation to a Member:
- Find and click the Money Link icon under the Transfers & Payments section in Web Branch. Click "Create a Money Link," which will send an invitation through Web Branch to the recipient to participate in the online transfer. When the recipient accepts the invitation, your name will appear in his/her Money Link list in Web Branch. Once the original invitation is accepted, your ability to transfer funds has been established so that person can then transfer funds to you at any time.
To send an invitation to a Non-Member:
- Follow the same steps as above, but since a non-member recipient won't have a Web Branch account, he/she will receive an email invitation that will contain a link. After clicking on the link, he/she will enter have to enter his/her personal and bank account information to initiate a transfer.
Send Funds by Receiving a Money Link
Similarly, you can transfer money to another member using Money Link:
- Ask the recipient of the funds to log in to Web Branch and send you a Money Link invitation. You will receive this invitation by email.
« More Budget & Planning Articles