Is there a way to transfer/ACH someone money for free?

[Bird222]

I want to send money automatically (manually if I have to) every two weeks. I know the bank account number of the recipient. Is there a way I can do this for free or very low cost?

 

[ctbaars]

I've actually walked into a bank with my personal check and deposited it in a different recipients account. No charge.
Check with the recipients bank.

 

[feralkid]

Usually you can set it up yourself if you have an online account. Click on "Add External Account" or similar. It often takes a few days to verify, e.g. they make two small deposits into your account, which you must then enter onto a form.

Recurring payment is usually easy to set up, and many banks do the whole deal free of charge.

 

[twinrider1]

Get an account with the recipient's bank. Eliminates any possible time spent waiting for funds to become available.

 

[pete6032]

Venmo

 

[pete6032]

Double post sorry

 

[Scarpozzi]

Sending money to a Nigerian Prince?

 

[deadlyapp]

2nd for Venmo. I hate that it's run by Paypal and is "social" but it really has been the best thing I've found for any bank transfers. I've transferred at least 10k in and out over the last month.

 

[Svnla]

If you have Capital One checking, you can send money monthly to another bank account for free. You can set it up automatically too. That's how I did it with mine.

 

[bruceb]

All banks allow you to transfer funds to an external account, but some charge a fee. Like from Sun Trust to another bank is a $3 fee, depending on the level of your checking or saving account (the highest levels do not get the fee) ... Chase does not charge to send to an external account in most cases (again depending on account level)

 

[MtnMan]

Uhhh..... call your bank and ask?

 

[zinfamous]

BoA -> BoA is free. Don't know what they charge to transfer outside of BoA.

Venmo, or Google Wallet?

 

[AznAnarchy99]

Venmo, Facebook Money, SnapCash, Cash App.

I personally like Facebook Money and Snap Cash because the money is instant.

Venmo and Cash App takes a few days to withdraw.

 

[Bird222]

If you have Capital One checking, you can send money monthly to another bank account for free. You can set it up automatically too. That's how I did it with mine.

So it doesn't have to be one of your 'external accounts'?

 

[Svnla]

So it doesn't have to be one of your 'external accounts'?

Not sure what you were asking but this is how.

I have a checking account with Cap1. I also have other checking and saving accounts at other banks, let say bank A, bank B, and bank C.

I set up Capital 1 checking account to send out money ($10 minimum, not sure what is the max) each month to bank A, bank B, bank C at the 15th of each month.

Automatically and free.

 

[Bird222]

Not sure what you were asking but this is how.

I have a checking account with Cap1. I also have other checking and saving accounts at other banks, let say bank A, bank B, and bank C.

I set up Capital 1 checking account to send out money ($10 minimum, not sure what is the max) each month to bank A, bank B, bank C at the 15th of each month.

Automatically and free.

Ok so these are your own accounts. I am trying to send money to an account that is not mine.

 

[Linux23]

Ok so these are your own accounts. I am trying to send money to an account that is not mine.

yep it's tough. always a fee of some sort.

 

[ElFenix]

Ok so these are your own accounts. I am trying to send money to an account that is not mine.

works the same way regardless, doesn't have to be your account.

 

[Svnla]

Ok so these are your own accounts. I am trying to send money to an account that is not mine.

I haven't done ACH toward another account (external) that is not mine. I don't see why not. As long as you have the routing number and account number, why should that be a problem?

Better go and ask your bank and do a couple ACH, if they charge you, then stop. If they don't, go on with your sweet self.

 

[PowerEngineer]

I haven't done ACH toward another account (external) that is not mine. I don't see why not. As long as you have the routing number and account number, why should that be a problem?

Better go and ask your bank and do a couple ACH, if they charge you, then stop. If they don't, go on with your sweet self.

I didn't think it would be a problem either, but found out that it really is. Transfers between accounts to which you are a party are easy. Transfers to accounts that you are not a party to are more difficult.

Wells Fargo has a "SurePay" on-line feature that I use to make this kind of transfer. Unfortunately, each transfer must be manually initiated; no automatic options (as in their bill pay).