How to Transfer Funds From a Checking Account
With the invention of online banking, transferring money from account to account has become easy and, most importantly, quick. While there are slight variations to how it works, all one needs to make a transfer is the receiving party's account and routing numbers. A transfer to another account within the same bank usually posts to the receiving party's account at the beginning of the next business day. Transfers between accounts at different banks may take up to five business days to be completed. A transfer between your own accounts is usually instantaneous.
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Instructions
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Transferring Money from Your Checking Account to Another Personal Account
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Pick the account from which you wish to transfer your money. If it is with the same bank, all you need is the account number. Most banks will have accounts under the same name on the same web page via online banking, allowing the user a quick and easy way to make your transfer.
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2
Choose the amount you wish to transfer from your checking. Since this is to your own account, there is no limit to how much you can send. Just be sure that you do not overdraw your checking. Your bank will not allow you to transfer more money than is available in your checking account.
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3
Send the amount to your other account. Most banks allow this to be an instant transfer, but some may hold it until the following business day. Be sure to check with your account to confirm when the funds are available. If the transferred funds have the words "pending" next to them, it means that the funds are not fully available.
Transferring Money from Your Checking to Another Person's Account
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4
Choose the amount of money you wish to send in your transfer. When transferring to someone else's account, there could be a limit to how much you send. It will vary from bank to bank, but the average maximum is at $1,000. Consult your bank for specific details.
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Enter the account and routing number for the account to which you are sending the transfer. Make sure both of the numbers are correct, for the slightest mistake will cause the bank to decline the transfer. Some banks may place a small fine on declined transfers.
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Transfer the funds to the account. Transferred funds can take up to five business days to transfer if the account you have sent the money to is for another bank.
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