Question : Is is possible to make a deposit into another bank account using online bill pay?
I am trying to avoid the long hold time when depositing money using ACH transfers. There isn't a hold time if you use a check, so I was thinking that there may be a way to use online bill pay to send money to another account, but I'm not sure how to do it.
- asked by autocreeper
All Answers:
Answer #1
Yes! That's how I make my deposits to my mutualfunds every month.You make the check payable tothe bank (payee). Include your account number. List the bank's bank by mail address.That's for TRowe Price.Call your receiving bank to find outexactly what to do.
- answered by SexyTrojan
Answer #2
In some instances you can transfer from oneaccount to another via telephone. Check with yourbanking institution. Also, you can make transfersin your on line banking if the other account is atthe same banking facility.
- answered by menlo girl
Answer #3
Yes you can do this function. If you needassistance call your online banking department andthey will guide you thru the set up. You will needabout routing numbers and make sure it is thecorrect number for ach deposit, as some routingnumber are different. Like I said before , callyour online department and they can also look thatinformation up for you for the account you holdwith them. You may have to call the other bank ifthe other account isnt with the same bank for theinformation needed. ( such as account numbers,address, so on so forth..) Good Luck! Alsoremember that some transfers with online bill paywill take time to process, it isnt alwaysimmediate. I have known them to take up to a weekto complete.
- answered by countryrozes
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