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TRANSFER MONEY BANK TO BANK
Find the Best Ways to Transfer Money From Bank to Bank
Money is electronic these days, so it should be easy to transfer money between bank accounts. And it is. If you want, you can still move funds the old-fashioned way, but the best way to do it is to let technology do all of the work.
There are several ways to move money from one bank to another electronically. They all have their pros and cons, but they’ll all get the job done.
Bank-to-Bank Transfer
If both accounts are yours, a bank-to-bank transfer is a good option.
You’ll set up the transfer with the sending bank, and the funds will show up at the receiving bank (by ACH) after two or three business days. Many banks allow you to make transfers for free – but it’s a good idea to check with both banks just to be safe.
Link your accounts: To set up transfers between two accounts, you’ll need to link the accounts first (this process can take a week or so — so establish the link before you need to send money).
- Log in to the account you’ll send from and look for an option to “add an account,” “add external accounts,” or “link accounts” in the customer service area.
- Provide the other bank’s routing number and your account number at that bank. If you don’t have that information, see where to get those numbers (either on a check or from your bank).
- After submitting that information, you’ll need to verify that you own the external account. You can typically do this by providing a username and password for that account or by confirming small “test” transfers between the two banks. For more details, read about linking bank accounts.
Transfer to yourself or others? This method is easiest if both bank accounts are in your name. To transfer funds to somebody else, you’ll probably need to use a wire transfer or another service (see below).
