This FAQ applies to Flourish Cash. You can review Flourish Crypto FAQs here.
You can transfer funds between your Individual and Joint Flourish Cash accounts by placing an “Internal Transfer.” There are a few key details to be aware of:
- Timing:
- If you place an internal transfer before 12:30 pm Eastern Time on a business day, the funds will transfer the same day, and will typically be posted to your account around 3pm ET
- Transfers entered after 12:30 pm Eastern Time on a business day will transfer the next business day, typically around 3pm ET
- Transfers entered on weekends and bank holidays will be processed on the following business day
- Internal transfers cannot be edited or cancelled. If you change your mind, you can create another transfer in the opposite direction.
- As soon as you schedule an internal transfer, those funds will be immediately available for a scheduled withdrawal from the receiving account, even before the internal transfer is complete
- You can create an unlimited number of internal transfers
- There are no fees associated with internal transfers
- There is no limit to the amount you can transfer between accounts, as long as you do not exceed the maximum balance in the receiving account. You can learn more about maximum balances here.
- You can only initiate internal transfers from the account where the funds are coming from
- We will send email notifications to each account owner when an internal transfer is created and completed
- You cannot place internal transfers between personal Flourish Cash accounts and institutional Flourish Cash accounts
- Newly deposited money from an external account will be subject to a 3-business-day hold. You can only transfer these funds internally after the 3-business-day hold