Bank-to-Bank Transfer

You need to get money out of one bank and into Paragon by tomorrow, but the only time you can do this is during today's lunch break. Traffic ends up being awful, and you either miss lunch or end up scarfing down something so fast you can't enjoy it. Unfortunately, this scenario plays out for far too many people every day, but we have a solution made just for this.

Enter Bank-to-Bank Transfer. You can now have money transferred electronically from your account at another bank to your Paragon account or vice versa. The transfer will be made via ACH overnight, and the funds are ready for you to use the next morning. Bank-to-Bank Transfers are easy, quick, and incredibly convenient. Follow the simple steps below to set up an external account and begin making Bank-to-Bank Transfers. Your stomach will thank you.

  • Locate the Account Info tab and click on the Bank-to-Bank Transfer menu. 
  • A brief description of Bank-to-Bank Transfer is presented. Click Enroll if you wish to begin.
  • You will be prompted with the Bank-to-Bank Transfer Service Agreement. After reading the agreement, click the I Agree checkbox followed by Accept.
  • To enroll your external account, you'll need to provide an account name plus the external bank's name, routing number, and account number.  You will also need to specify whether it's a checking or savings account.  Click Submit to continue.

    TIP: The Account Name is a nickname that only you will see.
  • As a security measure, we'll ask you to answer two security questions to verify your identity. Click Submit after submitting your answers.
  • Further action is required!  The on-screen instructions explain what the next steps are (but this tutorial will explain it in greater detail).
  • Because we must verify that you do in fact have authority to transfer funds between this external account, we will use the information you provided to send a small deposit via ACH to the external account.  Please note that it may take the verification deposit 1-2 business days to hit your external account, depending on when you initially requested enrollment.  To complete the rest of the verification process, you'll need to confirm the amount of the small deposit that was deposited.  So for the next 1-2 business days, you'll need to monitor your external account for the verification deposit.
  • Once you've located the verification deposit, you must confirm the amount with Paragon.  To do this, log in to Paragon's Online Banking and click the Bank-to-Bank Transfers menu and then the Enrolled Accounts option.
  • Your external account will be listed with a Pending status.  To the right of the status, there will be a field titled Verification Amount.  Here is where you confirm the amount that was deposited into your external account, and then click Submit.  The status will change from Pending to Verified, and you will then be able to transfer funds between the external account.
  • To submit a Bank-to-Bank Transfer to your newly-enrolled account, click the New Transfer option within the Bank-to-Bank Transfer menu. Submit the desired transfer information and click Submit.
  • After submitting the information, you will see a message near the top of the screen confirming that your Bank-to-Bank Transfer submission was successful.
  • You can view the pending Bank-to-Bank Transfer by clicking the Pending Transfers option within the Bank-to-Bank Transfer menu.
P.O. Box 2022  |  Memphis, TN  38101-2022 |  Phone: 901.273.2900  |  Fax: 901.273.2908  |  info@bankparagon.com
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