Ok. so here's the detail.
When I pay for things online, I could always use my checking account by providing them with my routing number and account number, etc.
however, my question is,
can I pay for things online from my savings account? (first, I should ask, would my savings account have different account number from checking account? even though from same bank?)
would it work just like checking account? like by providing the routing and account number?
please answer in details! thanks
2006-08-06 13:28:15 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Most likely, yes. You may have to specify when setting up the on-line payment that this is a savings account, not checking. If they're with the same bank, they'll have the same ROUTING number, but different ACCOUNT numbers.
The one thing to check into is with your bank. Many banks limit the number of withdrawals you can make from a savings account to six or less per month (they don't want you using it as a glorified checking account because they are using that money - little as it may be - to loan to other people).
Check with your bank to see if you qualify for a debit/credit card (sometimes called a check card). These have the Visa or MC logo and can be used just like a credit card, but the money comes out of your checking account within 2-3 days and there's no interest penalty.
2006-08-07 04:31:27 · answer #1 · answered by homeschoolmom 5 · 1⤊ 0⤋
Yes, you can set up your Bill Pay to use your savings account, however, some banks do not allow that because, by law, you are only allowed a certain amount of withdrawals per month.
Call your bank for the details.
Ask how many withdrawals you can make from your savings account per month.
Ask if you can have Bill Pay connected to your savings account.
2006-08-06 13:55:32 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Paying from a savings account would depend on if your bank allows it. Yes, it would have a different account number.
2006-08-06 13:35:51 · answer #3 · answered by misslabeled 7 · 0⤊ 0⤋
I do not think you can pay thinngs on line with savings account
because it is a personal account between you and the bank for
you to save money under your name. You can withdraw money
to put it into your checking account to pay out.
2006-08-06 14:06:50 · answer #4 · answered by stephen l 1 · 0⤊ 0⤋
Why don't you pay from your visa then make an online payment from your savings or checking account....
2006-08-06 13:32:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Hi! Yes - So I will just forward you my account details - That is £20 for me answering your question.
2006-08-06 13:32:29 · answer #6 · answered by ? 4 · 0⤊ 0⤋