From the Banking page, you can send money from one Rho account to another within one entity's account. This includes Treasury to Checking account transfers and checking to secondary checking account transfers.
Note: We do not offer the option to transfer funds from one company's Rho account to another company's account at Rho, even if both companies are owned by the same user. Internal Transfers are meant for transfers with one company's account. If you would like to send a transfer from Company A to Company B, you can create a Payee profile for Company B under the Company A account, set up a Domestic Wire Payment Type using Company B's domestic wire instructions, and sent a domestic wire. If you send a domestic wire prior to 3pm EST it should land the same day. If sent after 3pm EST it will land the next business day.
You can schedule a transfer to happen immediately or at a later time, as well as schedule the transfer to be a recurring transaction.
Click the Banking icon from the Rho toolbar to open the Banking Dashboard. Click Internal Transfer:
NOTE: Please make sure you are not selecting a specific account on the left side of the page.
From here you will be redirected to the Internal Transfer Details Page:
Specify the transfer information, and then click Continue:
How much would you like to transfer?
Enter the amount of money to be transferred in US Dollars.
Click the drop-down list to select the Rho account that the money is transferred from.
Click the drop-down list to select the Rho account that the money is transferred to.
By default the transfer is scheduled to be generated only once (One Time Only). To specify a recurring payment, click the drop-down list and select the desired frequency:
- One Time Only (default)
- Every day
- Every week
- Every month
- Every year
When should it go through
By default, the transfer is scheduled to be generated immediately (Now). To specify a later date, click Later and then click the calendar field to specify the desired date.
All immediate transfers are displayed on the Past Transfers page, and all scheduled transfers are displayed on the Scheduled Transfers page.
Note: If you schedule a recurring transfer using the How often? field, the Rho application bases the transfer on the date specified in the When should it go through field. For example, if you schedule a monthly transfer (Every Month) with a schedule date of 01/01/2022, then the first recurring transfer will occur on 02/01/2022.
Confirm Transfer Details
After you create the transfer a confirmation page displays. Review the transfer information, and then click the Confirm Transfer button.