Bank Transfer Tips: What to Know When You Transfer Money from One Bank to Another

By Two Monkeys Travel - Contributor December 17th, 2019 Posted in Travel Blog No comments

Because sometimes you need to move some money from one account to another or you just need to pay the rent and you’re not in your country, transferring money is actually way easier than you believe. It doesn’t matter where you are at the moment you can send money wherever you want in the world without leaving the comfort of your home or hotel. 

What to know When You Transfer Money from One Bank to Another
Photo by rupixen.com

There are many digital options you can choose to transfer your money and all you need is to find the method and company that suits you best. Transferring money from one bank to another has never been easier and is becoming the favourite method of many individuals who usually get stressed out during the holidays due to monthly payments. If you’re wondering why and how to transfer money, here are a couple of things you should consider: 

What to Consider as a Beginner

What to know When You Transfer Money from One Bank to Another
Photo by Vitaly Taranov

If you’ve never transferred money before, there a couple of valuable information you need to consider. It might sound silly, but at first, you should have a solid grasp of how much money you have in your account before planning to make the transfer. In case you don’t have sufficient funds the transaction cannot go through. But, even if it does you must pay an overdraft fee. If you don’t pay this fee on time it can get even more expensive, a reason why you should be aware before agreeing to make a transfer. Another thing you cannot overlook when you transfer money is the routing number of 9 digits for both the bank where you’re sending the money and yours. You can find your account number on the bottom of your check or through the online banking account.

The simplest way: Cash Transfer

What to know When You Transfer Money from One Bank to Another
Photo by Nick Pampoukidis

Banking nowadays rely very much on the digital world therefore the money is digital too, but this doesn’t mean you cannot transfer a bunch of cash. It doesn’t matter where you are at the moment you can always withdraw and transfer cash when you want to. If you’re wondering when or how can I send money to Colombia you only need to consider a couple of things. Moving cash from one place to another is actually very easy but you have to learn how to avoid ATM fees. To avoid them you only have to withdraw money in-person because every ATM including your bank may charge you with a transaction fee.

The Old-Fashioned Way: Checks Transfer

What to know When You Transfer Money from One Bank to Another
Photo by David Goehring CC BY 2.0

This old-fashioned method has still remained the simplest way to transfer money. All you have to do is to sign a check and deposit it at the bank you wish. Because now we can make good use of the mobile checks, we don’t have to take a ride at the bank to deposit one.

When you have to transfer money between accounts, the bank to bank transfer is the wisest thing you’ve chosen. All you have to do is to link the two accounts using the two account numbers and wait for a transfer that usually takes a couple of days to process.

Line seperator

Are you on Pinterest? Pin these!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

COPYRIGHT DISCLAIMER:Many of the articles on Two Monkeys Travel Group are guest posts by a number of Approved Contributors and are hosted by Two Monkeys Travel Group. Approved Contributors control their own work and post freely to our site. This includes all text and images that they use within their own work. All contributors are instructed to follow internationally recognised copyright and intellectual property guidelines. Two Monkeys Travel Group takes its own responsibilities very seriously, so if you feel that any part of this work is abusive in any way, please send us an email so that we can investigate - theteam@twomonkeystravel.com


DISCLOSURE: Please note that some of the links above are affiliate links. So when you make a purchase we sometimes make a small commission, at no extra cost to you. The cost to you remains the same, sometimes even cheaper if we have negotiated a special deal for our readers.We use all of the companies we have listed here and that’s why they are in this list, but of course we need to keep Two Monkeys Travel Group running as well as it can, which is exactly what you’re helping with if you do decide to buy or book something through an affiliate link! If you have any more questions about the companies we use or any other companies you’re looking at, just email us and we’ll be happy to help.Please see our full disclaimer page for more information.

Written by Two Monkeys Travel - Contributor

Two Monkeys Travel Group – Community Travel Blog is a travel blog and website. We quickly grew into a valuable source of inspiring travel stories, advice, itineraries and travel guides, with the aim of demonstrating how to live a sustainable life of travel, whilst living your own definition of success. If you'd like to contribute and write a guest post, contact us at kach@twomonkeystravel.com

Subscribe to our newsletter

Receive tips on how you can live a sustainable long-term travel lifestyle!

  • This field is for validation purposes and should be left unchanged.
Share via
Send this to a friend