Transfer money easily online between your Tower accounts and loans, to other Tower members and to your accounts at other financial institutions.
Moving money between your accounts is simple with Tower. Just enroll in Home Banking and transfer funds to your savings accounts, certificates, checking accounts, loans, Tower Mastercard®, and to your accounts at other financial institutions.
- Transfer to other members – Designate up to 10 Tower members on your Cross Member Transfer Authorization form who can receive transfers from your accounts. Transfers can be made to any Tower share or loan account, except Mastercard.
- Set up one-time or recurring transfers – to your Tower savings, checking, Share Certificates and loans.
- Transfer to external accounts – Transfer money between your Tower accounts and your accounts at other financial institutions or brokerage houses. Inbound and outbound transfers: 3-day transfers are free; next-day transfers are $5.
Use Tower Web Payments Center to make a Web Loan Payment using funds from another checking or savings account.
To set up automatic payments from a non-Tower account to a Tower loan, just print out the Direct Debit Payment Authorization Form and mail it to the address listed on the form or drop it off at any of our branches.
Set up any fixed-amount payment (such as mortgages, insurance, or utilities) to be drawn from your account on a specific day each month. This will guarantee that your payments will always arrive on schedule and save you time and postage.
Contact the company you wish to pre-authorize for payments and ask if they can “originate” the transaction.
Companies that originate automatic payments will need additional information in order to draft from your Tower checking or savings account:
- Our name – Tower Federal Credit Union
- Our location – Laurel, Maryland 20707
- Tower Routing number – 255077370
- Your name, Tower account number and account type