Borrower's Guide
Step 1: Select Advance Step 2: Determine Collateral Step 3: Initiate Advance Step 4: Receive Funds Step 5: Review Transaction

 

 

Relationship Managers:
(212) 441-6700

 

Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1

 

1Link Helpdesk:
(800) 546-5101, option 1

 

Borrowers Guide - Step 4

Step 4: Receive Funds

Once the advance transaction is completed and approved by the FHLBNY, the funds will be deposited into your FHLBNY Overnight Investment Account (OIA). Using our wire transfer service, you can transfer the funds into another demand account or wire them out of your OIA. The fastest and most efficient way to move funds out of your demand account is by using 1Link to initiate your wires.

When you initiate your wires through 1Link, you can:

  • Save $9 for each domestic repetitive wire out
  • Save $12 each domestic non-repetitive wire out
  • Save $5 for book transfers (free with 1Link)
  • Conveniently initiate current and future-dated domestic wires and book transfers right from your PC
  • Receive quick confirmation for 1Link-initiated payments
  • Receive detailed wire advice for incoming and outgoing wires
  • View your current day outgoing wires and book transfer transaction status anytime
  • Use templates to make repetitive wire transfers easy
  • Receive detailed wire information on Daily Wire Statement report
  • View wires and sign all with a single signing process

 

 

Relationship Managers:
(212) 441-6700

 

Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1

 

1Link Helpdesk:
800-546-5101, option 1
 
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