How to Transfer Money to an American Bank
If you have to transfer money to an American bank, then perhaps the best option is to wire transfer the funds through a bank or specialized money-transferring company, such as PayPal, Western Union or Xoom. Wire transfer is an electronic payment service that transfers money by wire (for instance, through the Federal Reserve Wire Network). If you transfer using PayPal, it will not cost you anything. Western Union and Xoom will charge you a small fee. The bank's fee varies from bank to bank.
Other People Are Reading
Instructions
-
-
1
Visit PayPal's website and register by clicking on the "Sign Up" button. Then, follow the registration process and provide accurate bank account information. Once you're registered, click on "Add Funds." You will need to specify the amount of money you want to add to your PayPal account. After adding the funds, it will take a few business days until they appear on your PayPal account information. Sign in to your account and click on "Withdraw." Then click on "Transfer to Bank Account." Select the option "Add bank account," after which you will need to add the recipient's bank account information. The last step is to specify the amount you wish to transfer to that particular bank account. Hit "Continue" and the money will be sent to the recipient's bank account.
-
2
Visit Western Union's or Xoom's website and register by clicking "Register" button. Again, you will need to provide full name, contact details and other personal as well as bank account information. Click on "Send Money" after registering successfully. Then select "U.S." as the recipient's country and select "Bank Deposit" as the method of funds delivery. You will then need to provide the recipient's bank account information. Also, specify the amount you're transferring from your bank account to the recipient's account. Once you confirm the transfer the money will be deposited to his bank account.
-
-
3
Visit your bank branch and tell them you want to wire transfer money to another bank account. You will be given a form to fill out. Mention the amount you want to transfer and provide information about the recipient's bank account (bank account number, account title, bank branch and address, and SWIFT code). Have the recipient confirm these details from his bank.
After completing the form, give it back to the bank's representative and pay the fee. Fee varies from bank to bank, but it could range between $12 and $45, according to Bank of America. Your funds will then be transferred to the other bank account.
-
1
