Thursday, February 9, 2012

What information do I need to send money to a different bank?

I have Bank of America, my friend has Wells Fargo. What information do i need to make the transfer?What information do I need to send money to a different bank?It is called a routing number. It is a string of numbers that lives at the bottom of a check and tells the banking system who you are and whether or not your account is valid and active.What information do I need to send money to a different bank?Uh...can you just write your friend a check? That's a money transfer.What information do I need to send money to a different bank?You need your friend's bank account number and the routing transit number (ABA number) of his bank. This is a 9 digit code that identifies the bank to which money is being sent. Each bank in the US has a unique ABA number.What information do I need to send money to a different bank?
Like the previous answer said, you will need ABA and account numbers for both your and your friend's account to complete the transfer.



There are a few ways you can accomplish this:

Wire transfer usually around $20 per transfer.

ACH transfer usually free or less than wire transfer, but not every institution handles this way.

Check a first class stamp or the cost of gas driving to your friend's place. (maybe a few bucks for pizza and beer if you decided to hang out).



Best wishes.

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