General Question

saservp's avatar

Checking account I can initiate wires from online?

Asked by saservp (291points) July 25th, 2010

I am looking for a free US checking account where there is some sort of interface to initiate a wire from online. My citibank savings account lets me, but I’d prefer to be able to do it from my main checking account.

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5 Answers

krougeau's avatar

Bank of America has a really good one; you can also tranfer funds to and from different account regardless of the institution for free. I think it takes a day or so to set up if it isn’t a BOA to BOA account, but very convenient if you need to move funds around.

Austinlad's avatar

Many banks and credit unions offer this now. I pay all my bills online. Other than an occasional check for a one-off expense, I use my credit union’s online wire service (or that of the creditor) exclusively.

UScitizen's avatar

The answers above are referring to ACH (automated clearing house) transfers, not wire transfers. ACH transfers are less expensive than wire transfers to both the financial institution and the consumer, but may not be available across international borders. I encourage you to consider whether an ACH transfer will fulfill your goals. Although it may be available, I do not know of an on line wire transfer service. I am familiar with a financial institution that will do a wire transfer after a phone order and a FAX signature authorization, followed by snail mail of the original holographic signature. Sorry, none of us have really answered your question.

jerv's avatar

I used to do that all the time from either checking or savings when I was with BoA, and still do from my local credit union.

My take on it is that any bank or credit union that does not have that option needs to move into the 21st-century.

saservp's avatar

Yes, you are all referring to ACH which is not what I asked. Ok, I’ll just stick with citibank. It has an online form follwed by a security phone call, that will suffice I suppose.

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