Common Elements Used to Transfer Funds

Payment Method

Indicate the method used to get the funds from the funding account. For example, select ACH if the funds are to be processed through an Automated Clearing House (ACH).

Repetitive Transfer Code

A code for any repetitive funds transfer type, assigned by a bank (or financial institution) to automatically initialize the bank's transfer process.

Drawdown Transfer

If selected, it indicates the transfer is a repetitive drawdown transfer.