How to send money to another bank account: sending money to another bank account via online payment services can seem confusing, but it’s actually very easy to do with the right steps and tools.
If you don’t know how to send money to another bank account, then this guide will give you all the info you need to do so in six easy steps!
Step 1: Logging Into Online Banking
The first step to sending money to another bank account is logging into your online banking. This can be done by going to the website of your bank and entering your username and password.
Once you’re logged in, you should see your account overview. If not, go to Accounts on the menu bar and select Overview. From there, select Send Money. On this page, enter the recipient’s name or email address, select the type of account (checking or savings), enter an amount up to $9000, then click Send.
That’s it! You’ve successfully sent the other person a transfer request. Now they’ll have to accept the request before any money is transferred out of your account. You’ll get a notification when they accept the request so you know when it’s safe to send them their cash.
Step 2: Sending A New Money Transfer
You can send a new money transfer by logging into your online banking account and selecting the ‘Transfers’ tab. From there, you’ll need to enter the amount of money you want to send, the account you’re sending it from, the account you’re sending it to, and any relevant details about the transfer.
Once you’ve reviewed and confirmed all the information, hit ‘Submit’ and your money will be on its way! Depending on the bank, the whole process could take anywhere from one day to three business days.
Remember that not all banks have the same hours so if you want to avoid long lines or a trip during off-hours then make sure to log in before 2pm ET Monday through Friday (but not on weekends or holidays). If you are sending a wire transfer, please note that some banks charge fees for international wire transfers while others do not.
Some also require pre-registration and may limit the number of wire transfers per month/year depending on your relationship with the bank. If these are things you’d like to know ahead of time, we recommend reaching out to customer service prior to initiating the wire transfer.
Step 3: Specify Who The Payment Is For
When you go to send money, you’ll need to specify who the payment is for. This is usually done by providing the recipient’s name, email address, or phone number. You may also be able to provide a routing and account number if you know it.
If you don’t have all of this information, no worries! There are still ways to pay someone else without giving them this information. In this case, they will just receive an email notification that they have received a payment but won’t see who paid them.
It’s important to note that whoever pays must use their own bank account (not one belonging to another person) and the person being paid cannot open a new account specifically for receiving payments. Once you’ve entered your recipient’s info, select Next on the screen.
Step 4: Fill In The Amount Of The Payment
In the Amount field, you’ll need to type in the total amount of money you want to send. This can be done by clicking on the 100 button and then typing in the desired amount, or by clicking on the Other button and then typing in the desired amount.
If you have a lot of money to send, you may want to consider using a wire transfer service. The first thing you’ll need to do is contact your bank to initiate a wire transfer.
Then, fill out the sender’s name (your bank account), recipient’s name (the account that you’re sending it to), account number (found at the bottom of your cheque), routing number (found at the bottom of your cheque) and amount of money being sent.
Step 5: Select When The Funds Are Due To Be Transferred
When you’re ready to send your money, you’ll need to select when the funds are due to be transferred. You can choose to have the funds transferred immediately, or on a future date.
If you choose a future date, you’ll need to specify when you’d like the funds to be transferred.
To select when the funds are due to be transferred, log into your online banking account and navigate to the ‘Transfer Money’ page. Select the account from which you would like to transfer funds, then enter the amount of money that should be transferred.
Click ‘Next’ and make sure that both accounts that will receive funds are selected before selecting ‘Finish Transfer’. Once you’ve finished transferring the funds, click ‘Confirm’. You may also want to print off this confirmation screen for your records.
Step 6. Confirm Details And Submit
Now that you have all the information you need, it’s time to confirm the details and submit your transaction.
Review the amount, the account number, and any other required fields one last time. When you’re sure everything is correct, hit submit and your money will be on its way! If there are any problems with your bank or card, it may take a few days for the funds to appear in your new account. Remember: when using another person’s routing number and account number (the beneficiary), you’re responsible for making sure the person knows about this transfer.
It’s also important that you check with them before sending anything because if they don’t want this payment sent to them, then the bank won’t release their funds and there might be an investigation into why a transfer was made without their consent.
With this you’ve successfully learn how to send money to another bank account.