Sending money instantly to someone from your bank account is often referred to as wiring money. All banks offer wire transfers through the Federal Communications Network. You are not restricted to transferring within your banking network when using a wire transfer; you can transfer from bank to bank. A wire transfer instantly transfers money, so there is no waiting for transferred funds.
Visit your bank in person. Inform the teller you wish to transfer money from your bank account to another bank account. You must have identification for security purposes.
Tell the bank teller how much money you wish to transfer and the account you wish to transfer it to. You must provide the teller with your account number and the receiving account number; the bank of the receiving account and that bank's telephone number and address; and the name of the receiving account holder.
Review your receipt to ensure the correct amount was transferred. If anything seems incorrect, immediately notify the teller. Save your receipt for your records.
Tips & Warnings
- Most banks charge fees for wire transfers. These fees vary from bank to bank. PNC Bank, for example, charges a flat fee of $25 for each wire transfer and a $10 fee for accepting an incoming wire transfer, while Bank of America charges a flat fee of $25 for each wire transfer and a $12 fee for accepting an incoming wire transfer.
- Photo Credit One Dollar Folded image by Sujit Mahapatra from Fotolia.com
How to Wire Money Bank to Bank
A wire transfer is an efficient way to move money from one bank account to another. They work electronically, and the transferred...
How Do I Transfer Money Into Another Person's Bank Account?
Transfer funds to another person’s account at your bank or a different bank using online, mobile or in-person banking options.