You can transfer money from one bank to another via an electronic transfer. Both accounts could be yours, or one could belong to someone you’re paying. You can also transfer money from a bank account to an investment account, prepaid card or peer-to-peer payment account (e.g. Venmo), among other destinations. This is what’s known as an electronic transfer. It’s generally free, and it’s very easy to set up.
Here’s how to transfer money from one bank to another:
Log into your online account on your bank’s website.
Navigate to “Account Services & Settings” (or something similar).
The specifics may vary a bit by bank. And there are lots of different reasons for wanting to transfer money from one bank account to another. But it’s worth pointing out that using multiple bank accounts can be a helpful budgeting tool. If you want to limit your non-necessity spending to a certain amount, for example, you can set up a monthly transfer for that amount from the account where you receive your paycheck to another account that’s designated for fun.
Many banks will allow you to link another outside bank account through an "ACH" or "EFT". I have my bank accounts at Bank of America, and through their site I was able to link an outside bank account. I would call their technical support team and tell them your intention, they will happily help you link the accounts. The link should be active in 3-5 business days and transfers will occur 1-3 business days after each request.
If you are writing a check, you can make the check payable to yourself and endorse the check for deposit. While this is often a faster method of transfer now that mobile banking allows check deposits, it can be a pain and has more room for error. I would steer you towards electric transfers once you have that link set up.
You can write a check payable to yourself (correctly titled and endorsed) and deposit it in your other account. Be aware that it may take several days for the funds to show up and clear--it is not always immediate, depending on your bank's policies.
In addition, if your intent is not to use the other bank account any more, be aware that withdrawing all the funds may not automatically close it, and you may be subjected to mimumum balance charges.
To transfer funds from one Green Dot Card to the next, your must log into your account, go to the Pay Bills & People tab, and complete the Send Money form. The money is deducted from your account. The recipient is notified by text or email that money was sent to them. The recipient has 10 days to claim the funds. If they do not claim them, they are returned to the sender's account.
Green Dot Corporation… read full answer
The best balance transfer credit card is not one-size-fits-all. The answer depends on how much you owe, how quickly you’ll be able to repay it and what your credit score is. Those factors will tell you which cards are attainable and help you figure out how much each will save you. But we can certainly point you in the right direction.… read full answer
WalletHub’s editors compared hundreds of credit cards based on their balance-transfer appeal. In the end, five cards in particular stood out. None of them charge annual fees. All of them require at least good credit for approval. And you can get the rest of the particulars below.
Here are the best balance transfer credit cards of 2018:
Balance Transfer Fee
The Amex EveryDay® Credit Card from American Express
for 15 months
12.99% - 23.99% (V)
for 15 months
$0 for transfers made within 60 days of account opening.
15.99% - 24.74% (V)
BankAmericard® credit card
for 18 billing cycles for any balance transfers made in the first 60 days
Of course you can, especially since they're both yours.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.