How do scheduled transfers work?

A scheduled transfer works exactly like any other bank transfer, except that you can choose the date when you want it to be sent.

There are two types of transfers that can be scheduled:

• Deferred transfers: these are one-time payments that are scheduled for a future date. You choose the date when you want the one-time payment to be sent.
• Regular or recurring transfers: these are repeat payments that are issued on a recurring basis: daily, weekly, every two weeks, every 15th or 30th of the month, monthly, bimonthly, quarterly, four-monthly, semi-annually or annually.

In both cases, you can cancel, pause or even edit the transfer before the scheduled send date. If you need to make changes, simply click on the “Consult Transfer” tab in online banking or in the MoraBanc App.

What kinds of payments can I schedule?

Any transfer you need to send can be scheduled, regardless of the amount (depending on the limits in your digital banking contract), the recipient bank and destination country (as long as they are not on the list of prohibited or sanctioned banks or countries).

An example would be your rent, which is usually paid on a monthly basis.  Now you can arrange for the payment to be sent to the landlord automatically every month. With payment scheduling, you can automate the transfer and forget about it.

How do I schedule a transfer?

With  MoraBanc’s digital banking, you can schedule both deferred transfers and regular or recurring transfers so that the funds are sent automatically in the specified amounts. To do so, just follow these steps:

1. Choose the account and go to I want to > Send Money.
2. Complete the money transfer information. At the bottom of the screen you’ll be asked if you want the funds to be sent on a different day or if you want the transfer to repeat periodically.
3. Review the information before validating it. The fees that apply to the transaction, if any, will also appear on this screen.
4. Finally, you’ll be asked to validate the transfer and enter the OTP (confirmation code that you’ll receive by SMS). For recurring transfers, you’ll only have to enter the OTP once, the first time.

Schedule all the payments you need to make in advance.  With scheduled transfers, you’ll never have to worry about forgetting a payment again.

If you’d like to learn more about this or other services available through MoraBanc Digital, give us a call at +376 884 884 or contact your personal manager.