Move Money Between Banks (Without a Fee)

Hello,

I have two checking accounts. One at US Bank, the other Bank of America. I'm trying to think of a way to move money between the two without a fee. Moving money from BoA to US Bank has a $3 fee (from BoA), and US Bank does not have a way to transfer money out via online banking (a wire transfer done at the bank has a fee, too.)

The only idea I have for doing this is to transfer money from either account to an Emigrant Direct savings account I have. You initiate the transfer on Emigrant's website, so there's no fee from BoA or US Bank. Then, once the money moves to Emigrant, you transfer it out to the other account. There would be no fees, but it would make the moving of funds take two business days + two more business days. Essentially, Emigrant is a middleman in moving the funds.

Write yourself a check?

Since both are large b&m banks , depositing checks at their ATMs will work nicely

jkimcpa said: Write yourself a check?

I overlooked that simple solution. Thanks!

the best way i think is a hub account.

I remember there was a good discussion on this, but could not find it.

I think Fidelity and GMAC are good hubs.

QUESTION: HOW DO YOU GET CHARGED OVERDRAFT FEE’S FOR RECEIVING A WIRE TRANSFER DEPOSIT to an account NOT in the negative?

ANSWER: Bank with Wachovia/Wells Fargo!

I have several accts w/wachovia and I've been with them for many years. One of the accounts that I use as a savings account had a $0.00 balance because I recently moved money around to make a large purchase that I'd been saving for.

I received an expected wire transfer of $500.00 sent to the Wachovia account with a zero balance.

Here is the action Wachovia took:
1. They charged me $15.00 for a “domestic wire transfer fee”.
2. The (15.00) “fee” then puts the account with $0.00 into the negative.
3. Then they charge me a $22.00 overdraft “fee”.
4. THEN they deposit the wire transfer.
5. All my other accounts were WAY in the positive.

I got charged $37.00 to receive a wire transfer of $500.00 to an account that was NOT in the negative.

Now they claim that they’ve always charged for "domestic wire transfer fee's". That is a bold face LIE, because I've received wire transfer deposits from that SAME client before. Are they that f-in desperate? Is their policy "screw all of our loyal customers?"

My wife banks with Bank of America and in the instance of an oversight like that BOA allows you 5 days to get things right.

I’m a computer expert and on a good year I cycle a healthy 6 figures through Wachovia yearly.

It will be a COLD day in the deepest darkest hell before Wachovia/Wells Fargo see’s another penny of my money voluntarily.

Is it unreasonable to expect integrity from an banking institution that doesn’t try to f-you at every possible opportunity with all sorts of outlandish “fees”?

Henceforth I’m shutting down ALL my accounts and switching over to Bank Of America. I’d rather mop the floor at a peep show than bank with Wachovia/Wells Fargo.

I hope they go bankrupt and may the flee’s of a thousand camel's infect their stinky greedy armpits.

WACHOVIA. I HATE YOUR BANK! I THINK YOU F-IN SUCK! I think you guys are ***holes!

Victor (a really PO'ed former Wachovia customer.)

weird way to do is do CashBack with discover, then deposit, use the other bank account to pay the balance
that is, if you have discover card

WachoviaSUX said: QUESTION: HOW DO YOU GET CHARGED OVERDRAFT FEE’S FOR RECEIVING A WIRE TRANSFER DEPOSIT to an account NOT in the negative?

ANSWER: Bank with Wachovia/Wells Fargo!

I have several accts w/wachovia and I've been with them for many years. One of the accounts that I use as a savings account had a $0.00 balance because I recently moved money around to make a large purchase that I'd been saving for.

I received an expected wire transfer of $500.00 sent to the Wachovia account with a zero balance.

Here is the action Wachovia took:
1. They charged me $15.00 for a “domestic wire transfer fee”.
2. The (15.00) “fee” then puts the account with $0.00 into the negative.
3. Then they charge me a $22.00 overdraft “fee”.
4. THEN they deposit the wire transfer.
5. All my other accounts were WAY in the positive.

I got charged $37.00 to receive a wire transfer of $500.00 to an account that was NOT in the negative.

Now they claim that they’ve always charged for "domestic wire transfer fee's". That is a bold face LIE, because I've received wire transfer deposits from that SAME client before. Are they that f-in desperate? Is their policy "screw all of our loyal customers?"

My wife banks with Bank of America and in the instance of an oversight like that BOA allows you 5 days to get things right.

I’m a computer expert and on a good year I cycle a healthy 6 figures through Wachovia yearly.

It will be a COLD day in the deepest darkest hell before Wachovia/Wells Fargo see’s another penny of my money voluntarily.

Is it unreasonable to expect integrity from an banking institution that doesn’t try to f-you at every possible opportunity with all sorts of outlandish “fees”?

Henceforth I’m shutting down ALL my accounts and switching over to Bank Of America. I’d rather mop the floor at a peep show than bank with Wachovia/Wells Fargo.

I hope they go bankrupt and may the flee’s of a thousand camel's infect their stinky greedy armpits.

WACHOVIA. I HATE YOUR BANK! I THINK YOU F-IN SUCK! I think you guys are ***holes!

Victor (a really PO'ed former Wachovia customer.)

cool starry bra

Ellory,

Now that I've returned to the land of the sane calm people, lol, here is more detail. Actually, I'm quite familiar with the terms and conditions that banks shove down clients throats, I used to work for Bankers Systems, Inc. in Minnesota.

Bankers Systems, Inc. is a regulatory compliance solutions company that at one time used to make I think about 80 - 85% of all banking agreements in the US, you know the tri-fold brochures you used to get when starting a new bank account, the ones with the VERY VERY fine print in ye olde LEGALESE that could almost melt the mind of the most seasoned finance lawyer.

I did the graphics design on at least 100 of them over a period of 2 years while going to college. I worked closely with the experts in the legal department to dial in the financial language which is different slightly for each state. I am NOT implying that I'm a financial guru of any sort, however I can spot most banking financial shenanigans quite a ways off.

I started banking w/Wachovia in Florida because I now do consulting work in the South (TCF and other Minnesota banks have no branches in the south). I now consult in Texas. As far as I know all the physical Wachovia Banks locations in Tx have been converted over to Wells Fargo, thus all Texas initiated Wachovia Bank accounts have been converted over to Wells Fargo accounts. As I understand it all Texas initiated account holders had to sign new "contracts" to join the AWESOME new Wells Fargo Banking family.

However, Wachovia accounts initiated in Florida (like mine) are still bound to the original Wachovia "contracts" which Wells Fargo must honor until the conversion of those original agreements to the new Wells Fargo agreements. I don't believe they can charge me for "domestic receive wire transfer" fees UNTIL I sign the new Wells Fargo agreement because Wachovia did NOT charge a similar fee for wire transfers.

I believe that from a legal perspective they are at fault because I've cannot sign the new Wells Fargo agreement UNTIL Wells Fargo does the Florida conversion since my Wachovia account was initiated in FL and is covered by FL state law. But you know $37.00 is just not worth it to go after these ***holes.

I feel betrayed by Wachovia, I've defended them for years, I'm done with them now. I believe they are a bunch of heartless bottom feeders with no soul.

I'm happy to announce that:
I've closed all but 1 of my 3 Wachovia accounts.
I've moved all my $$ to Bank of America.
I left one Wachovia account open with $50.00 (just in case) until the dust settles.
I've transferred my direct deposit to Bank of America.
As soon as my direct deposit kicks in with Bank of America, I'll personally go to my local Wachovia/Wells Fargo bank branch and tell them how far up their *ss to shove it.

My humble 2 cents, thanks for listening!

WachoviaSUX said:
I've moved all my $$ to Bank of America.
Lol, good luck

LOL,

I agree, I think they all suck in one way or another.

Bottom line; the are all FOR PROFIT institutions that pretend to have integrity. Quarterly earnings figures are their main priority. Actually giving a hoot about their clients probably not so much, for now BOA seems to suck less. I don't believe that their decision makers have reached the realization that taking good care of "the cattle" actually benefits the farm in the long run. It's my understanding that these folks think in 3 month increments, they simply think ahead one earnings quarter at a time.

My wife has been with BOA far longer then I have been with Wachovia, thus far they've done right by her. So, I'll give BOA a try and see what happens, with my current level of understanding/experince, it's hard to imagine them being that much worse than Wachovia/Wells Fargo.

All in all it's either dealing with them or going Fred Flintstone and stashin' my cash in a mattress. I do plan on diversifying and holding several accounts with smaller banks or credit unions and using BOA for traveling or consulting work.

If anyone has any wisdom to share or knows of a bank in Tx that is somewhat descent, I'm all ears.

I guess I could say I'm recovering from my SHATTERED little illusion of them "caring". (Licking my wounds as I type, lol). Thanks to you all for your feedback and time. Much appreciated!

Kind regards to all.

My apologies for multiple posts, I'm still getting accustomed Fat Wallet.

So you helped the people that designed the fine print that screwed over people (back when they were allowed to) and now the same class of people, who you already knew to be profiteering, emotionless and unsympathetic, are screwing you. What's a word for karma in ye olde English?

WachoviaSUX said: Ellory,

Now that I've returned to the land of the sane calm people, lol, here is more detail. Actually, I'm quite familiar with the terms and conditions that banks shove down clients throats, I used to work for Bankers Systems, Inc. in Minnesota.

Bankers Systems, Inc. is a regulatory compliance solutions company that at one time used to make I think about 80 - 85% of all banking agreements in the US, you know the tri-fold brochures you used to get when starting a new bank account, the ones with the VERY VERY fine print in ye olde LEGALESE that could almost melt the mind of the most seasoned finance lawyer.

I did the graphics design on at least 100 of them over a period of 2 years while going to college. I worked closely with the experts in the legal department to dial in the financial language which is different slightly for each state. I am NOT implying that I'm a financial guru of any sort, however I can spot most banking financial shenanigans quite a ways off.

I started banking w/Wachovia in Florida because I now do consulting work in the South (TCF and other Minnesota banks have no branches in the south). I now consult in Texas. As far as I know all the physical Wachovia Banks locations in Tx have been converted over to Wells Fargo, thus all Texas initiated Wachovia Bank accounts have been converted over to Wells Fargo accounts. As I understand it all Texas initiated account holders had to sign new "contracts" to join the AWESOME new Wells Fargo Banking family.

However, Wachovia accounts initiated in Florida (like mine) are still bound to the original Wachovia "contracts" which Wells Fargo must honor until the conversion of those original agreements to the new Wells Fargo agreements. I don't believe they can charge me for "domestic receive wire transfer" fees UNTIL I sign the new Wells Fargo agreement because Wachovia did NOT charge a similar fee for wire transfers.

I believe that from a legal perspective they are at fault because I've cannot sign the new Wells Fargo agreement UNTIL Wells Fargo does the Florida conversion since my Wachovia account was initiated in FL and is covered by FL state law. But you know $37.00 is just not worth it to go after these ***holes.

I feel betrayed by Wachovia, I've defended them for years, I'm done with them now. I believe they are a bunch of heartless bottom feeders with no soul.

I'm happy to announce that:
I've closed all but 1 of my 3 Wachovia accounts.
I've moved all my $$ to Bank of America.
I left one Wachovia account open with $50.00 (just in case) until the dust settles.
I've transferred my direct deposit to Bank of America.
As soon as my direct deposit kicks in with Bank of America, I'll personally go to my local Wachovia/Wells Fargo bank branch and tell them how far up their *ss to shove it.

My humble 2 cents, thanks for listening!Well, I didn't listen - nor read the Wall of Text - but I have quoted it for preservation

Apparently though you never read or understood any of the documents they sent you