Ways to Move Money Easily Between Accounts
Do you need to send your roommate half of this month’s rent? Need to pay a bill without writing a check? Are you splitting a large expense with your friends and family? Today we are more connected than ever, and so is our money. We check on our friends and our bank accounts from our phones. While there are many ways to send and receive money, if you’re an Eagle Federal member, we’d like to tell you about our favorites.
Pay A Person
You can easily send money to a friend or relative using Pay a Person on NetTeller or GoDough. If you know their email address, you can send them money – wherever they bank, simply choose the email option. They get an email telling them how to enter their bank information so they never have to share their account numbers with you. This is free, easy to use, and the money usually gets there within 24 hours.
Account to Account Transfers
If you like having your account at the tip of your fingers, you should definitely try Pay a Person on NetTeller or GoDough. Moving money does not require you own both accounts or even be at the same credit union. You can move money to other accounts, other banks, your own account, or someone else’s. If you know the routing and account number for the receiving account, choose the “direct deposit” option. This method works with most credit unions and banks. This process is completely free, uses ACH, and usually posts to the receiving account within 24 hours.
Bill Pay
Paying a bill has never been easier! Using iPay Online Bill Pay, accessed through NetTeller Online Banking, you can set up one-time or recurring payments. No checks, no stamps, no envelopes needed. While sometimes a check has to be mailed, in most cases, the funds are transferred electronically on the day you choose.
Wire transfers
Another great way to move money quickly and securely is with a wire transfer. If you need to send money for large purchases, like buying a home, a wire transfer could be an option. They allow for the transfer of large amounts of money to be delivered relatively quickly. Wire transfers are also a great option for sending money between different countries. Although, those transfers may take a day or so. Wire transfers have a minimal fee.
In Branch or Over the Phone
The methods mentioned above are all great ways to move money. But calling or going into the branch can be a seamless experience and allows you to ask questions. These methods assure that you are speaking with a real person that can assist you. While it might not be the fastest, these methods provide a greater level of support and security.
You work hard for your money and moving it around should be simple and easy. Eagle Federal has the resources and methods to help you send your money any way you choose. We hope you enjoyed this list of our favorite ways to move money. If you have any questions, please reach out to us, stop by, or give us a call. We’re happy to help.
