Sometimes, you may need to transfer money between bank accounts. Generally speaking, this is not difficult. You can transfer money between different accounts at the same bank, or between accounts at different banks. Before transferring money, make sure there is enough balance in the transfer-out account to complete the transfer. Otherwise, the bank may charge you an overdraft fee. If you are transferring money to a stranger’s account, be very careful. Generally speaking, this situation should be avoided.

Method 1: Transfer Funds between Two of Your Own Bank Accounts

• Ask the bank teller to transfer the money. It is easiest to go to the bank and ask the teller to transfer money. You only need to provide your account information and transfer amount. You may need to fill out some forms at the counter. The teller should be able to help you.
• Call to transfer money. If you can’t get to a bank, consider transferring money over the phone. Ask the teller if you can make a transfer. Be sure to have your bank account number handy before calling.
• Online transfer. Online banking is a great service. If your bank offers this service, you should take advantage of it. Generally speaking, once you create a username and password and log in, you can transfer money between accounts.

Method 2: Transfer Funds between Accounts in Different Banks

• Make sure you are not being scammed. If you have accounts at both banks, you can transfer money with confidence. But if you are sending money to a stranger, you must first confirm the identity of the other party and the reason for the transfer. Many scams utilize electronic transfers or wire transfers.
• Send money using credit transfer. You can send money electronically through the Automated Clearing House (ACH). Credit transfers can move funds between accounts. You can make a credit transfer online, by phone, or in person at a bank with the money.
• Receive money using debit transfer. Debit transfers are another form of ACH transfer. A debit transfer is an instruction to make a payment from another account. Since the initiator does not know whether the other party has enough funds to complete the transfer, this method generally takes longer to complete. As with credit transfers, you can receive and send money online, by phone, or in person at your bank.
• Write a check. You can also transfer money by check. If you want to transfer money between your two different accounts, you can write yourself a check. Just issue a check from Bank A and cash it at Bank B.
• Request a check from the bank. If you can’t write yourself a check, you can ask your bank for one and they should be able to issue one for you and then cash it at another bank.
• Wire transfer. One bank can send money directly to another bank. For this, you need to pay a handling fee of about 280 yuan. Wire transfers are one of the fastest ways to send money, and funds can often arrive the same day or even within an hour after processing. To contact your bank, you may need to fill out a form online, by phone, or in person.
• Transfer money via PayPal. You need to register with PayPal and create a username and password. Then you need to link your bank account. Click “Send & Request” and then “Link a bank or card” and provide your bank account information.

Tips

If you send money to someone else via electronic transfer, be sure to check your statement to make sure no unauthorized transactions have occurred.