Aside from online banking, banking companies are now expanding their services to reach the needs of millions
of account holders. Online payments are now made possible with the help of technology and the internet.
Another added feature that banks are now offering is the different methods of
fund transfers. Just like making online payments, fund transfers can be done to another person’s bank account provided that the bank supports this type of service.
If you have more than one account in one bank, you can transfer your funds from one account to another by using the ATM’s added features or services. You can also transfer funds to a different account with the same bank using the automated teller machine. Simply select the option for transferring funds, and input the account number of the recipient. Your transaction will be confirmed by a printed slip that will be ejected by the machine. This will help you keep track of the transactions you have made, if you are not able to access your online account through the internet. If you have several accounts from different banks, it is also possible for you to make bank to bank fund transfers. Before doing so, you should know whether your bank allows this type of transaction. If you are transferring funds to someone else with a different bank account, that person might as well check if the transfer service is supported by his or her bank.
Most automated teller machines have 24 hour access to fund transfer services, making it convenient for customers to transfer money any time. If you do not have access to an ATM, you can also make fund transfers online by logging in to your account through the web site of the bank. If the transaction is successful, you can check out the transaction record in your account for verification purposes as well. This feature works great for those who are buying from online stores and making payments to the personal accounts of the seller or merchant. Even if the seller denies having received the payment, you can simply print out or forward the transaction details to that person.
Using bank to bank fund transfers is very easy and convenient. If you are transferring money from your bank account to another account from the same bank company, there is no service charge if you use the ATM from that bank. If you use another bank to transfer your funds, there can be a minimum service charge, or it may vary depending on the amount of money you are transferring. These types of transactions are guaranteed to be safe and secure because all the necessary information will be recorded in your account and the recipient’s account as well. You can also keep the transaction receipt from the ATM for recording and tracking purposes, and you can also print the transaction records by logging in to your online account through the website of the bank. If you are using a public computer, make sure that you clear the cache and the browsing history to avoid identity theft and phishing scams.
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