How can I transfer money from my Bank to my Credit Union?
You need to call both banks and ask them if they offer this service for free. Some banks offer free "money link", but they are mostly online banks or brokerages. They have a transfer funds tab, and you simply transfer money from one bank to another without any fees. Do not let the bank sucker you into paying for wire-transfers. I think you already know how expensive those are. If they are both local accounts, you may have trouble with money transfers. I bet your credit union may offer this service for free - worth a try. /
Transfer money into another persons bank account?
Yes, you should be able to set up an automatic monthly transfer from your bank account to hers, especially if your accounts are in the same bank. You don`t want to pay for doing it though. So if you have "bill pay" that is free, then you could set it up through that to be paid either automatically on a certain day each month or you can do it yourself each month whenever you have the money for it. Just check out the bill pay features connected to your account and you should be able to work it out. If not, talk with someone at your local branch on how to do it without paying any fees.
You can transfer as much money as you want without a problem, so long as it is done between accounts within the banking system, or via personal or business checking, credit cards or most electronic means. In such situations, there are verified names attached to the sender and the receiver. If you’re up to no good, they already know where to find you.Unless you have opened financial accounts with fraudulent information—or you’re actively moving money around to obscure its purpose or source—or receiving money from countries with, ahem, relaxed notions of law and order, you have little to be concerned about.The enhanced scrutiny that you are alluding to has to do with cash and cash-like things: coin and paper currency, gold, travelers' checks, money order, casino chips, etc. In other words, units of monetary value that do not have names and addresses attached at either end. A Currency Transaction Report is required for all cash transactions over $10,000, but it doesn’t mean you are in trouble. It may only require an official explanation, under penalty of law.By the way, there’s no magic attached to that $10,000 figure. Banks are required to inquire about any cash or other transaction that raises suspicion of illicit proceeds, money laundering or structuring (the legal name of the crime in which people attempt to make many smaller-than-$10k to avoid a CTR).If you are routinely making deposits of $2000 in singles this week, and $1500 in singles next week—and you aren’t a stripper or a vending machine owner—a bank may still report your suspicious transactions.Hope this helps.
Can I transfer money from one bank account to another using Bill Pay?
You should be able to link these 2 accounts. Check with different banks. I have an account with USAA which will allow me to link different banks, while my account with Wells Fargo will not. You should also be able to use Bill pay, just like paying any payee. Address, account #, etc.
Does anyone know how to transfer money between accounts in different banks without wiring it?
Wiring money is fast, expensive, and a little bit of a pain. I'm too cheap to pay the fees. If you don't need to get the money to your son instantaneously, electronic ACH works well, is typically "free", but usually takes a couple days. You should be able to do this through your online banking system. Call up an officer at your son's bank. (S)he has more incentive to help you out, since they will be getting money through this set up. This is how many people transfer money between bank accounts and investment funds. Speaking of your son's bank, you didn't share the name of the bank (which is fine). But, let's say you are in Credit Union X and he banks with Citibank. If that is the case, find out how far away you live from the closest Citibank branch. If you are only a few miles away, it may be easier and faster to drive over to that branch and deposit a check or cash into his account that way. OK, if none of this works out for you conveniently, you can always open a new account at your financial institution. Set it up as a joint account with your son. Have the bank send checks to your son. Then, you can keep some minimum balance in it so that it stays open; and, you can transfer some money from your regular checking account into the joint account whenever you want to. Your son will be able to write checks on that account or he can always shift money from the new joint account into his own bank account. You can have statements mailed to you with an informational copy sent to your son--or, the other way around.
I confused with two different bank accounts....HELP !!?
Checking account is best for you and will be for a long time. Savings account is a silly way banks have you open up a second account. They give you very little in return for what you allow them. I make a lot of money and would never use a savings account...it is a bad placeto put my money. Bad in the sense that you're not using it well and the bank isn't doing anything for you... the best thing you can do is put your money in a money market...which requires you to have at least 2thousand dollars minimum...it will pay you better interest on your savings than the savings account will. My biggest concern for you is, that you need a bank that won't charge you lots of fees...it's not fair to you based on the money you make. Can you believe some banks charge $50 per month...pay more attention to their fees...otherwise they will rip you off. Sometime directdeposit is the only way to waive them. Also -- you should consider using a bank that is big and has ATMs everywhere so you have easy access to your money (checking account). :) Let's get you working making double or triple 6.15/hr. -- get you into some health care or tech college classes and get you going on a nice career. :)
It depends on the bank or financial institution with which you hold your account. Contact them for instructions. I have Chase, and can transfer money between my accounts and my daughter’s, since she is a minor and I have access. Chase also has an app that you can use to transfer money from your own accounts to any other bank’s account(s) that has a reciprocal relationship.If none of this can work for you, then use MoneyGram or Western Union, where you can purchase for a small fee an electronically accessible check for the amount and then someone across town or across the nation can obtain the funds and deposit it to their account. The funds can be collected in cash at a variety of locations that honor MoneyGram or Western Union, like a CVS, Walgreens, and most grocery stores, as well as Walmart, Target. If you need, look up MoneyGram and Western Union in your area and see where the closest affiliate is. Hope this helps. Good luck.