How to Transfer Money from One Bank to Another!

Transfer Money

Today you don’t need to go to a bank branch and stand in a queue to send money. Modern technologies and digital banking allow you to transfer money instantly and from home.

Money transfers from one bank to another is a fairly common and convenient way for individuals to move funds. It’s typically done electronically, and can be done in a few minutes depending on the method used. 

Making such transfers is usually done through bank websites or mobile apps, though it’s still possible to send funds by visiting a bank branch. Fees associated with transferring funds vary depending on the method used, as well as factors like the amount being transferred. 

Understanding the different methods of transferring funds and costs can help individuals make sure they’re making the best decisions when transferring funds between banks.

Ways to Transfer Money between Banks

There are a lot of ways to send money between financial institutions. In this article we will cover the most popular methods.

Online Transfer from One Bank to Another

Online transfers from one bank to another allow individuals to send funds from one bank account to another. This type of transaction is commonly used for transferring funds between family or friends, paying bills, or making deposits into other accounts.

The process is relatively easy and can be completed in a few steps. The transaction may take several business days to complete depending on the type of transfer and the financial institution. The fees may also vary between banks, so it is important to check with both banks prior to initiating a transfer. 

Peer-to-Peer Transfers

Peer-to-peer transfers are becoming increasingly popular thanks to their convenience and cost-effectiveness. Bank transfers between accounts that are maintained by different banks typically cost little and can be completed quickly — usually within one hour. This makes them a much less expensive alternative to other payment methods, such as checks and wire transfers. 

Additionally, peer-to-peer transfers do not require any extra paperwork or additional information beyond the account numbers of the senders and receivers, so they are very safe and secure.

Wire Transfer

A wire transfer is a type of electronic funds transfer (EFT) that allows the sending of funds between two different banks. Wire transfers are used to send large amounts quickly from one bank to another. 

They are typically used when the sender needs to wire funds overseas or to another person. Wire transfers are a fast and reliable way to send funds, making them popular with individuals and businesses alike. 

Email Money Transfer

An email money transfer (EMT) is a convenient and secure way to send and receive funds from one banking institution to another. It is used for online banking transactions between individuals, businesses, and financial institutions. 

Banks typically offer EMT services as part of their online banking platform, allowing customers to quickly move between their accounts or pay bills electronically.

Receive a Money Order / Cashier’s Check

Receiving a money order or cashier’s check is a safe and secure way to receive funds from another person or entity. Money orders and cashier’s checks are issued by a bank and are guaranteed to be good for the exact amount stated on the check. This means that the person receiving the money order or cashier’s check can be confident that they will receive the full amount of funds in the payment that they were expecting. 

Pay Bills Online

Paying bills online is a convenient and secure way to pay the bills that you receive from different financial institutions. It is much easier and faster than having to write out a check or make a payment directly from your bank account. With online payments, you can set up recurring payments, track payments and manage your accounts in one place. 

Issuing a Paper Check

Alternatively, you can also issue a paper check between two banks. This may be a more convenient and secure way to pay bills when dealing with two different banks. To do this, you need to go through your bank’s website and fill out a check form. On this form, you will include the amount and name of the payee and the account number of the bank where you want the funds to be sent.


Transferring money from one bank to the other can be done in a few different ways. The most popular ways are through wire transfer, online, issue checks, email transfer and money orders. Depending on the banks you are using, each of these methods may have different transfer speeds and fees. It is important to compare banks and understand the details before making a transfer. 

Once you select the best option for your needs, you can make the transfer money easily.

Transfer Money article and permission to publish here provided by Dianel SEO. Originally written for Supply Chain Game Changer and published on January 25, 2023.