A: There are two options for electronic funds transfer available to MOSIP Investors:
Same Day Wire Transfer – Funds can be transferred by wire to or from a MOSIP account. For incoming transfers, you must instruct your financial institution to send the funds to MOSIP. For outgoing transfers, the MOSIP client service team will initiate the transfer. In either case, MOSIP must be notified by 1 p.m. Central time in order for the funds to transfer/credit the same day. MOSIP has no service charge or fee for this service.
Next Day Transfer – Next Day Transfer utilizes the Federal Reserve’s Automated Clearing House (ACH) system. Funds are transferred overnight and are available in the designated account the next business day. Requests to transfer funds must be received by MOSIP via phone, fax, or online account access by 3 p.m. Central time. The Next Day Transfer Form must be completed in advance and takes approximately ten (10) business days to process