What are money transfers?

Money transfers are ways to directly send funds out of your HCB account. HCB currently has five ways to transfer money:

• ACH transfer
• Mailed check
• PayPal
• International Wire
• HCB transfer

To explain each of these briefly:

ACH transfer

• Way to send money to a US bank account
• Requires an HCB organizer to have the recipients bank details
• Fast method, within 48 hours on business days

Mailed check

• We can physically mail a check to someone!
• HCB organizer does not need the recipients bank details
• A slower method, can take a couple weeks to get check sent

PayPal

• Fast method going via PayPal, typically done within 4 business days
• Great for international transfers if PayPal works for the recipient
• Requires recipient to have a PayPal account setup
• Can take approximately a week to transfer

International Wires

• We recommend this feature as a last resort, it has fees!
• If you need to send money internationally and PayPal isn't an option, you can wire the money
• Requires lots of bank details from the recipient
• Has a $25 fee per wire (except for specific circumstances, click here to learn more)

HCB transfer

• An internal transfer between multiple HCB organizations
• Requires an HCB organizer to be added on both organizations
• Free and instant transfer!