There are times you want to write a check from one bank account only to find out your funds are in a different bank account. The account with the funds might be a savings account, thus not allowing you to write a check from that account. The solution is to transfer the money from the account with the funds to the account you want to write the check from as easily as possible.
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Withdraw and deposit
You can go to the bank that has your funds and withdraw the amount of money necessary. Then you can take this cash to the bank that needs the money and deposit it into your account. This method requires you to make two transactions and drive to two different banks in order to transfer your money.
Deposit a cheque
If the account that has the money in it is a current account, you can write a cheque from that account and deposit it into the bank account that needs the funds. This transfer method is a single transaction and only requires you to appear at one banking institution. However, some banks may place a hold on the funds you are depositing because you are depositing a personal check. So check your bank's policy for hold procedures, especially if you need the funds available immediately.
You can go to the bank that has the money and wire transfer the money to your other bank account. Wire transfers are expensive, but they are very quick. The money should be available in your other account within a few minutes, and because wire transfers are cash transactions, wire transfers are generally available immediately.
Instead of going to the bank, you can call your bank and order the wire transfer over the phone. This is easier because you do not have to drive to the bank. Over the phone, the bank representative will ask you a few questions to prove your identity before making the wire transfer, so have your personal information handy.
If you have an online account with your bank, you can log into your account and handle transactions online. You can set up an account online if you do not have one. Simply go to your bank's website and follow the directions for setting up an account, which usually means providing some information to prove your identity and picking a password. Once you open the online account, choose the option to link another bank account to this one. Link your other bank account to this account by providing the bank account number, routing number and other pertinent information requested. Now you can transfer money easily whenever you want by filling out the online transfer form. This process will usually take two business days, but it definitely is the easiest way to transfer money because you can do this any time from the comfort of your home or anywhere you have access to a computer.
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