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
- 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
International Wires
- We recommend this feature as a last resort, it has fees!
- 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!