2006-11-23 06:57:34 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
No, it is not required, but most banks do, especially if its a wire transfer or involves writing a non-personal check.
Electronic transfers, on the other hand, are slower than wire transfers but often do not have fees associated with them (both depositing and withdrawing). Check with the bank to see if they have charges for electronic transfers.
2006-11-23 07:02:43 · answer #1 · answered by Target Acquired 5 · 0⤊ 0⤋
If you can go to the bank where you're making the withdrawal, in the US, you can get your money for free, and the one where you're depositing will also do that free in person. Also, you should be able to transfer money free from a US checking account to a US destination in most situations.
One bank tried to charge my husband for closing an account-- they were going to charge him for the check they'd give him.
He refused to pay for that check and said "Give me the money in cash." It was several thousand, and he didn't really want the cash, and they didn't really want to give him cash, but by making that request, he received the bank check without the fee.
For an electronic transfer between banks, particularly if they're in 2 different countries, you'll probably have to pay a fee.
2006-11-26 18:13:26 · answer #2 · answered by some sense 2 · 0⤊ 0⤋
Depend how much money you have in the bank, if you have a lot just ask them to wave the fee, they may give you it there policy line. Then I tell them it not my policy to pay to spend my money so i would like to close the account and i want cash, they wave the fee.
2006-11-23 15:21:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is possible to do it for free if you have online banking.
1 Make a new payee with the checking + routing numbers of the person to whom you you wish to pay, then in the address section you need to find the bank by mail address for the bank ( a service they offer to businesses to make deposits by mail) enter that with the persons name and thats it . It takes a while for deposits to show up because it is such a roundabout way to do it but it does work.
I have recieved payments and made them for a long time like this.
Hope this helps and isnt too confusing,If in doubt try a small amt. first
2006-11-23 15:20:08 · answer #4 · answered by interestingnick 2 · 0⤊ 0⤋
I have not yet found a bank that doesn't charge !!
The fees vary from bank to bank as well to just a few dollars.
2006-11-23 15:12:18 · answer #5 · answered by Kitty 6 · 0⤊ 0⤋
Yes! In Puerto Rico is 40$ for each transfer out of your account and 20$ for each transfer coming in to it.
2006-11-23 15:01:31 · answer #6 · answered by Butterfly 2 · 0⤊ 0⤋
Of course.
They wont do it for free...unless both accounts are yours and are held at the same bank.
Otherwise there will be a fee.
2006-11-23 19:53:05 · answer #7 · answered by roast_breadfruit 3 · 0⤊ 0⤋
Like you, banks do not work for free.
2006-11-23 20:03:22 · answer #8 · answered by Anonymous · 0⤊ 0⤋
They usually charge
2006-11-23 14:59:30 · answer #9 · answered by Anonymous · 0⤊ 0⤋
yes
2006-11-23 14:58:40 · answer #10 · answered by ? 7 · 0⤊ 0⤋