Eastern Bank Business Transfer — Funds Transfer Guide

Types of Business Transfers Available

Eastern Business Banking® offers several transfer methods to move money between accounts, to external recipients, and to manage loan obligations. After completing the Eastern Business Bank login, you can access all transfer features from the Transfers section of the platform.

Transfer Options Summary

Internal Account Transfers

Internal transfers move funds between your Eastern Bank business accounts in real time. This is the fastest and most cost-effective way to manage cash flow across your checking, savings, and money market accounts.

How to Make an Internal Transfer

1. Log in to Eastern Business Banking
2. Navigate to Transfers → Internal Transfers
3. Select the source account (from)
4. Select the destination account (to)
5. Enter the transfer amount
6. Choose immediate or scheduled transfer
7. Review and confirm the transfer

Internal transfers between Eastern Bank accounts are processed immediately and are available 24/7, including weekends and holidays.

Loan Payments and Draws

If your business has a loan or line of credit with Eastern Bank, you can manage payments and draws directly through Eastern Business Banking.

Making a Loan Payment

To make a payment on your Eastern Bank business loan:

1. Navigate to Transfers → Loan Payments
2. Select the loan account you want to pay
3. Choose the funding account
4. Enter the payment amount (regular payment or additional principal)
5. Select the payment date
6. Confirm and submit

Taking a Loan Draw

If you have a business line of credit, you can draw funds directly to your checking account:

1. Navigate to Transfers → Loan Draws
2. Select your line of credit account
3. Choose the destination checking account
4. Enter the draw amount (up to available credit)
5. Confirm the transaction

Loan draws are typically available immediately in your checking account, subject to your credit availability and any draw restrictions on your line of credit agreement.

ACH Transfers

ACH transfers through Eastern Business Banking allow you to send money to external bank accounts electronically. ACH is ideal for recurring payments, vendor payments, and any transfer where same-day settlement isn't required.

ACH Transfer Processing

• Standard ACH: 1-2 business days, cut-off at 4:00 PM ET
• Same-Day ACH: Same business day, cut-off at 2:45 PM ET
• Scheduled ACH: Future-dated, processed on the scheduled date

For detailed ACH setup instructions, see our ACH Payments Guide.

Wire Transfers

Wire transfers provide the fastest method for moving large sums of money. Eastern Bank supports both domestic and international wire transfers through Eastern Business Banking.

Wire Transfer Cut-off Times

For complete wire transfer instructions, see our Wire Transfer Guide.

Transfer Limits and Security

Eastern Business Banking implements transfer limits to protect your business from fraud and unauthorized transactions:

• Per-transaction limits — maximum amount per individual transfer
• Daily limits — total transfer amount per business day
• User-specific limits — customizable limits per authorized user
• Dual approval — transfers above a threshold require secondary approval

Your account administrator can configure these limits based on your business needs. Changes to transfer limits may require approval from your Eastern Bank relationship manager.

Transfer Security Features

• Multi-factor authentication for all transfer initiations
• Positive Pay for ACH and check fraud prevention
• Real-time fraud monitoring on all transactions
• Transfer alerts via email and SMS
• Complete audit trail of all transfer activity

Learn more in our Online Banking Security Guide.

Frequently Asked Questions