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How to Transfer Funds from One Bank to Another

I made a deposit of $17,000 in my account at bank "A", but now I would like to take it out and deposit it into another of my accounts at bank "B". What is the best way to do this?

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Assuming that the deposit at Bank A has cleared, you can write a check on your Bank A account payable to yourself, endorse it and deposit it in your account at Bank B. An alternative would be to ask Bank A to issue you a cashier's check for $17,000, which you can then endorse and deposit in your account at Bank B.

A third and more expensive alternative is to have Bank A wire transfer the funds to your designated account at Bank B. The advantage of this method is that the funds would be accessible at Bank B without waiting for a check to clear. The disadvantage is the cost. Each bank would impose a fee for the transaction, which you'd be wise to ask about before selecting this option.

Published on BankingQuestions.com 5/26/09