Automatic transfers

Overview

Account admins or any other users who have been assigned custom product capability can set up auto-transfer rules to automatically move funds between checking, treasury, vault, and external accounts on a recurring basis based on the available balance in the account.

Transfer amounts

When an automatic transfer rule runs, your transfer amount is based on your available balance adjusted for any pending transfers. This calculation includes:

• Available balance: The usable cash currently in your checking account.
• Pending incoming transfers: Money in transit to your checking account (such as a mobile check deposits or transfers from an external bank), meaning funds that are processing and are not yet available for use. These only factor into minimum balance rules.
• Pending outgoing transfers: Payments you have initiated from your checking account that have not yet been processed. These are subtracted for both minimum and maximum balance rules.

Rule types

Maintain minimum balance

You can choose to set up a minimum balance to maintain in your selected checking account. If your checking account minimum balance falls below that amount, a transfer will automatically be initiated from your selected account in the amount to get your account balance up to the minimum balance amount that you selected. You set the cadence for when the transfer will occur when configuring the rule. You can either use your treasury or vault account to top up your minimum balance, or an externally linked bank account.

To calculate the automatic transfer amount for your minimum balance rule, we review your effective balance which includes any pending incoming transfers and excludes any pending outgoing transfers on a given day.

Note: You can only set up one minimum balance rule per checking account.

Maintain maximum balance

You can choose a maximum balance to maintain in your selected checking account. If your account exceeds this amount, based on your auto-transfer rule(s), the next transfer will adjust to bring you back to your maximum balance. You can either have funds transferred to your treasury or vault account, or a bank account held at a financial institution.

To calculate the automatic transfer amount for your maximum balance rule, we review your effective balance which excludes any pending outgoing transfers in a given day.

Note: You can only set up one maximum balance rule per checking account.

Fixed recurring amount

You can choose to set up a specific amount to transfer from one account to another on a regular basis. This transfer can be set up between your checking accounts, from checking to treasury or vault, from treasury and vault to your checking accounts, or from an external bank account.

Setup

Step 1: Go to Accounts and choose the checking account you want to set an auto-transfer rule for.

Step 2: Under Manage settings, go to Auto-transfer rules and click Manage.

Step 3: Click Add rule to create a new rule, or click the pencil icon to edit an existing rule.

Note: To remove an existing rule, click the trash icon in the top right.

Step 4: Click Done.

Your automatic transfers are now set. You can repeat this process to edit one or multiple rules in the future.

Processing schedule

Once set up, automatic transfers are triggered each morning before banking hours on business days on the scheduled date of your automatic transfer rule. If a rule triggers an auto-transfer scheduled for a weekend or banking holiday then it will trigger on the business day prior to the scheduled date.

• Transfers from treasury: Funds pulled from treasury will typically settle in the morning of the scheduled date of your auto-transfer rule.
• Transfers from vault: Funds pulled from vault will settle in the afternoon of the scheduled date of your auto-transfer rule.
• Debits from external accounts: Funds pulled from an external account will generally settle in 0 to 3 business days.

Note: A minimum balance rule initiates in the morning before banking hours based on the schedule you set when setting up the rule. To prevent externally-originated debits from being rejected, ensure you have sufficient funds in your account at the time of the debit.

Failed automatic transfers

If your automatic transfer fails, you’ll receive an email that tells you the cause of failure and how to fix it. The failed transfer won’t automatically reinitiate at the time it originally failed, but we will continue to run the automatic transfer rule at the next scheduled transfer date. It’s important to address the problem to make sure the subsequent automatic transfer is successful.

If your transfer fails due to insufficient funds, you’ll be prompted to add more funds to your designated external account or your selected account type.

If your transfer fails due to a broken bank connection, you can reconnect it using the steps in this help article.

If your transfer fails due to your account’s ACH debit limits, you’ll need to lower your automatic transfer threshold. You can also contact Brex Support for assistance.