How do I transfer funds to or from IRESE?

Go to "Home > My IRESE > Account > Transfers", and click on "Transfer money". Take me there

• Amount: Enter the amount that you wish to transfer. You can transfer between $25 and $100,000 at one time.
• Direction: Choose the direction (to or from IRESE)
• Account: The bank account from which funds will be transferred.
• Date: Date that you want your transfer to start. Default date is to the current date.
• Frequency: Choose every week or month if you want your transfer to start every week or month on the date you specify, for the specified period of time.
• Estimated completion date: After filling out the other fields on this page, this field will show you the date and time when you can expect your transfer to complete.

You will be asked to confirm your transfer and authorize the withdrawal or deposit to your external account. have confirmed the transfer, if the start date is today, the transfer will be initiated. Transfers with future start dates will be initiated on the specified start date.

How long does a normal transfer takes?

Unless your transfer is eligible for instant transfer (see below), it takes four business days to complete a normal funds transfer from your bank account to IRESE.

The transfer processing calendar is based on banking business days. Weekends and bank holidays do not count as business days. With regard to holidays, if the holiday falls on Saturday, it is not observed, and if the holiday falls on Sunday, it is observed on the following Monday. Holidays include: New Year's Day, Martin Luther King Day, Presidents' Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving, and Christmas.

Transfers are only processed on business days as defined above. A transfer is processed on the same day if the request is received before 3:00 PM Pacific time; otherwise it is processed on the following business day. Use the table below to estimate the transfer completion date and time.

Transfer completion day and time

(all times Pacific)

Why does it take so long to transfer funds to IRESE?

Because transfers only occur on business days, and IRESE only initiates transfers once a day at 3:00 PM Pacific Time, your transfer may take longer than you expect based on when it starts and how many weekends and holidays are coming up.

Here's what happens behind the scenes when you transfer funds from your bank account to IRESE:

• Day 0: You initiate a transfer of funds
  If Day 0 is a Friday after 3:00 PM, then Day 0 is actually the following Monday. If Monday is a bank holiday, then Day 0 is actually Tuesday.
• Day 1: Funds are withdrawn from your bank account
• Day 2-3: Funds are received by IRESE and IRESE waits for the 3-day ACH return window to close before making funds available in your account. Because this transfer can be cancelled or marked failed within 3 business days by your bank, IRESE does not give you access to these funds until the transfer cannot be cancelled. This added wait is standard practice for electronic funds transfers and provides an added level of security for funds in your external bank account.
• Day 4: Funds will be available in your cash balance for bidding after 9:30 AM on this day.

The money already came out of my bank account, but hasn't appeared in IRESE account. What's going on?

Based on the ACH funds transfer schedule (see above), funds you transfer to IRESE will leave your bank account two days before they are made available to you on IRESE. This delay is typical and to be expected.

The reason for the delay is that IRESE waits for the 3-day ACH return window to close before making funds available in your account. Because any funds transfer can be cancelled or marked failed within 3 business days by your bank, IRESE does not give you access to these funds until the transfer can no longer be cancelled. This added wait is standard practice for electronic funds transfers and provides an added level of security for funds in your bank account.

How much can I transfer at once?

You can transfer as little as $100 and up to $100,000 at one time.

Can I cancel a funds transfer?

You can only cancel a funds transfer which is not yet processing (that is, a status of "Scheduled"). Go to "Home > My IRESE > Account > Transfers", and then click "Edit" next to the transfer that you want to cancel, select "Cancel Transfer". Take me there

Are there any fees for funds transfers?

No. There are no fees for funds transfers.

What method does IRESE use for transfers?

Bank transfers are done through an ACH (Automated Clearing House) transfer. ACH is a system of the U.S. Federal Reserve Bank that provides electronic funds transfer between banks. For example, the same kind of fund transfer transaction that is used for direct deposit of paychecks. Funds from ACH transfers may take two to four business days before they become available in the destination account.

Where can I see my previous transfers?

Go to "Home > My IRESE > Account > Transfers", and then click use Filter to select your past transfers. You can filter by Date, Status or Transaction #. Take me there