How to Withdraw Money From a Checking Account
Technological innovations have made it possible for you to withdraw money from your checking account at various places outside of the bank---online and offline. Most banks and third-party organizations still take very thorough precautions to assure that the account holder is the person who is withdrawing cash from the account, by asking for identification, checking signatures, asking for address and Social Security number information, asking you to verify recent deposits and requiring you to login online. There are a variety of ways that you can withdraw money from your checking account other than the obvious method of walking up to a teller.
Other People Are Reading
Things You'll Need
- Checking account and number
- Check card with Visa or MasterCard logo from your bank
- Bank routing number
Instructions
-
-
1
Withdraw money to your PayPal or similar online account from your checking account. Open a new PayPal account and click "Profile" then "Add or Edit Bank Account." Press the "Add Bank" button and enter your bank's routing number and checking account number. The system will send two small deposits to your checking account which you must verify. Thereafter, you can withdraw money from your checking account to your PayPal account to make online purchases and send money to others online.
-
2
Transfer money from your checking account to a high-yield online savings account, including the one offered by ING Direct. You must complete the same process as described in Step 1 for PayPal.
-
-
3
Call or visit your bank to do a wire transfer. You will need to verify your account with the representative. The money will be withdrawn from your checking account and deposited into another account of almost any type, whether it is your own or that of a third party. This can cost anywhere between $15 to $30 or more per transfer depending on the bank. Allow up to a week for the transfer to be completed.
-
4
Sign up for online bill pay if your bank offers this online service. Enter the name and address of the person who you want to pay, as well as your account number if this is a bill and the amount. The money will be withdrawn from your checking account and a check will be issued in the name of the recipient. This option is best if there is no rush to withdraw and send your money, because it can take up to five days to arrive at the recipient's door.
-
5
Go to a pharmacy or supermarket that offers "cash back" and make a small purchase using your check card. When prompted, choose "Yes" to get cash back and enter in the amount that you want to receive. The amount, plus the small purchase, will be deducted from your checking account and you will receive your cash in hand. Depending on the cost of the item, this may be a less expensive alternative to using an ATM (automated teller machine).
-
6
Use your check card at the post office to purchase a money order. This is an ideal choice if you plan to send the money you withdraw directly to another party. You can also get cash back with a check card at the post office as well.
-
1
