Due to online banking, now transferring money between different bank accounts has become much easier than before.
If you want to know how to transfer money from one bank to another person’s account in another bank then you may read this piece of write-up.
If you want to transfer money from your one account to another account then it is a good option. It is easy to set up a transfer with the bank for sending or receiving, and your funds will arrive at the destination after 2 or 3 business days.
Both your accounts must be linked before transferring and this process may take a week or so.
How to link two accounts:
- Log-in to your account and look for the option “add an account,” or “add external accounts,” and also “link accounts” in customer service area.
- Enter routing number of other account and if you don’t have the information, then get it either on your check or from online banking accounts or ask your bank.
- Submit that information and also verify it. You can do this by entering your username and password given for that account. You can also confirm by transferring small amount between 2 banks.
If both are your own bank accounts then it is easier. To transfer funds to somebody else’s account, you may need to use third-party providers like PayPal or wire transfer.
Apps and other online payment tools
In case, your bank has no bank-to-bank transfer facility then you can use several person-to-person payment tools too. You need to link your own bank account with the necessary app or service by using checking account and your routing numbers.
Writing traditional checks
If you are not in any great rush and can wait for few days then you need not use the new technology, as this can create more trouble, if you are not too comfortable with online transfer.
If any small amount is lying idle in any of your old bank accounts then you would like to transfer it into your own new account.
In such case, it is hardly worth your effort to keypunch all the routing as well as account numbers and take the trouble of signing up for a new app.
You must be having your checks, and writing check can be the simplest solution. You can put your name down as payee, and then deposit the check in your new account. All these you are able to do without leaving your house by depositing the check with the mobile device.
In case you have exhausted your check, the you can ask the bank and get a new check printed for you. It is also possible even if you live out of state, to get check made payable at the account of your choice.
As an alternate, you can also use your online bill payment of your bank service to make payment to yourself.
This process may be especially easy in case you use credit union which is part of Shared Branching network.