Money Transfer Options

Get your money where you need it—when you need it there—with these convenient money transfer options from Principal Bank.

(Some transaction limits and/or fees may apply - see the Terms and Conditions (PDF: 142 KB) and Fee Schedule (PDF: 158 KB) for more information.)

Money Movement
Wire Transfers
Online BillPay
Automatic Clearing House (ACH)
Telephone Transfers

Principal Bank Transfer Options
Service:	Money Movement
Use this service to:	Transfer money between your Principal Bank accounts Transfer money between Principal Bank accounts and your accounts at other financial institutions (Transfer limits apply) Send money to family and friends who have an account at Principal Bank
How long to complete a transfer?	Transfers between Principal Bank accounts are completed in real time Transfers between your Principal Bank account and accounts at other financial institutions are completed in 3 business days
Which Principal Bank accounts can I use?	Checking, Savings and Money Market
Recurring transfers available?	Yes
Cost:	Free for inbound transfers and transfers between Principal Bank accounts $3-$11 for outbound transfers
Method:	Online
Anything else I need to know?	You must be enrolled in online banking to use Money Movement To transfer money to a third party, you will need the third party account number and bank routing number
^[1] Monthly (rolling 30-day period) Return to top
Service	Wire Transfers:
Use this service to:	Send money quickly to a family member, friend, or other third party
How long to complete a transfer?	Same day if placed Monday-Friday by 3:30 pm (Central Time)
Which Principal Bank accounts can I use?	Checking, Savings, Money Market, IRA^[2], IDA, CD
Dollar amounts allowed:	Limited to available account balance
Recurring transfers available?	No
Cost:	$20 domestic + sales tax $40 foreign + sales tax
Method:	By phone (1.800.672.3343) or by mail
Anything else I need to know?	Mailed or faxed signed requests are required for some transactions
^[2] IRA accounts require distribution form with original signature (faxes also accepted) Return to top
Service:	Online BillPay
Use this service to:	Pay your bills Send payments to any individual or business
How long to complete a transfer?	An interactive calendar is provided to show you the earliest date the payment can be received by the biller; you select the date the payment must be received
Which Principal Bank accounts can I use?	Checking and Money Market
Dollar amounts allowed:	No limit; however, overdrafts are subject to NSF/OD fees and payments may be returned
Recurring transfers available?	Yes
Cost:	Free
Method:	Online
Anything else I need to know?	Payments may be made electronically or by check by the BillPay processor You must be enrolled in online banking to use BillPay
Return to top
Service:	Automatic Clearing House (ACH)
Use this service to:	Set up CD interest deposits and IRA distributions to your checking or savings accounts
How long to complete a transfer?	2-3 business days
Which Principal Bank accounts can I use?	IRA for scheduled distributions CD for monthly interest payments
Dollar amounts allowed:	Available account balance
Recurring transfers available?	Yes
Cost:	Free
Method:	For IRA distributions, (an IRA Distribution form can be downloaded from the secure website) complete and mail to Principal Bank CD interest deposits can be set up by calling a Customer Service Representative at (1.800.672.3343)
Anything else I need to know?	You may also choose to set up preauthorized ACH payments from your accounts by contacting certain companies directly (such as utilities) You can set up preauthorized ACH credits to your account, such as direct deposit for your paychecks, by contacting your employer directly
Return to top
Service:	Telephone Transfers
Use this service to:	Transfer money between your Principal Bank accounts
How long to complete a transfer?	Transfers between Principal Bank accounts are completed immediately
Which Principal Bank accounts can I use?	Checking, Savings, Money Market
Dollar amounts allowed:	Limited to available account balance
Recurring transfers available?	No
Cost:	Free if completed using Interactive Voice Response (IVR) $3 if completed by Customer Service Representative
Method:	By phone using IVR or by speaking to a Customer Service Representative at(1.800.672.3343)
Anything else I need to know?	Accounts must be enabled for telephone access and you need to have a PIN established to use the IVR
Return to top

Have a question?
Contact a bank customer service representative at 1.800.672.3343 or via e-mail.