Home Page link  

electronic transfer between 2 different banks

  
Groups | Search | About
User Password
Register Now! Lost Password?

QuickBooks Discussion board - Discussions about the popular financial software by Intuit

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
electronic transfer between 2 different banks Randy Starkey 11-05-2007
Posted by Randy Starkey on November 5, 2007, 6:40 pm
Please log in for more thread options
 Hi,

Anyone know if there is some way to setup either inside or outside of QBW to
transfer money electronically between 2 different banks? These are business
accts. To send even an e-check takes 4-5 days.

Thanks!

--Randy Starkey



Posted by Pet - www.GymRatZ.co.uk on November 5, 2007, 8:38 pm
Please log in for more thread options
 Randy Starkey wrote:
> Hi,
>
> Anyone know if there is some way to setup either inside or outside of QBW to
> transfer money electronically between 2 different banks? These are business
> accts. To send even an e-check takes 4-5 days.

Does your bank(s) not offer on-line banking ?
If so, you just add account #2 as a recipient by adding account number
and sort code then make payment once you've logged in.

Still doesn't stop the bank holding on to the money for 3 days though.


--
http://gymratz.co.uk - Fitness & Gym Equipment/nutrition specialists.
http://www.water-rower.co.uk - The ultimate rowing simulator.
http://www.BBE-Boxing-Equipment.co.uk - New Boxing Equipment site.
http://www.commercial-gym-equipment.co.uk - Commercial Gym Equipment.

Posted by Randy Starkey on November 5, 2007, 9:46 pm
Please log in for more thread options
Yeah - I was hoping to make it the same day, but the online bill pay way may
be all I can do. Unless there is some other way I'm missing...


> Randy Starkey wrote:
>> Hi,
>>
>> Anyone know if there is some way to setup either inside or outside of QBW
>> to transfer money electronically between 2 different banks? These are
>> business accts. To send even an e-check takes 4-5 days.
>
> Does your bank(s) not offer on-line banking ?
> If so, you just add account #2 as a recipient by adding account number and
> sort code then make payment once you've logged in.
>
> Still doesn't stop the bank holding on to the money for 3 days though.
>
>
> --
> http://gymratz.co.uk - Fitness & Gym Equipment/nutrition specialists.
> http://www.water-rower.co.uk - The ultimate rowing simulator.
> http://www.BBE-Boxing-Equipment.co.uk - New Boxing Equipment site.
> http://www.commercial-gym-equipment.co.uk - Commercial Gym Equipment.



Posted by Laura on November 5, 2007, 10:03 pm
Please log in for more thread options
Check with the 2 banks involved. It may be worth a trip to the bank and
discuss your options with a branch manager.

Many banks now offer bank transfers that can be scheduled online. There are
fees and dollar restrictions so the bill pay may actually be cheaper. Some
bill payments are same day. It all depends on the receiving end.

> Yeah - I was hoping to make it the same day, but the online bill pay way
> may be all I can do. Unless there is some other way I'm missing...
>
>
>> Randy Starkey wrote:
>>> Hi,
>>>
>>> Anyone know if there is some way to setup either inside or outside of
>>> QBW to transfer money electronically between 2 different banks? These
>>> are business accts. To send even an e-check takes 4-5 days.
>>
>> Does your bank(s) not offer on-line banking ?
>> If so, you just add account #2 as a recipient by adding account number
>> and sort code then make payment once you've logged in.
>>
>> Still doesn't stop the bank holding on to the money for 3 days though.
>>
>>
>> --
>> http://gymratz.co.uk - Fitness & Gym Equipment/nutrition specialists.
>> http://www.water-rower.co.uk - The ultimate rowing simulator.
>> http://www.BBE-Boxing-Equipment.co.uk - New Boxing Equipment site.
>> http://www.commercial-gym-equipment.co.uk - Commercial Gym Equipment.
>
>


Posted by HeyBub on November 6, 2007, 7:27 am
Please log in for more thread options
Laura wrote:
> Check with the 2 banks involved. It may be worth a trip to the bank
> and discuss your options with a branch manager.
>
> Many banks now offer bank transfers that can be scheduled online.
> There are fees and dollar restrictions so the bill pay may actually
> be cheaper. Some bill payments are same day. It all depends on the
> receiving end.

They can do it if it suits them. I have a customer who maintains a large
checking account balance.

Bank approached him with the following plan: At 6:00p.m. they would transfer
his balance to a interest-bearing account; at 6:00a.m. they would transfer
the balance back to his checking account. He would earn half the usual
interest rate for short-term savings. The bank made money two ways:

1. They lowered their overnight demand for inter-bank loans to meet the fed
requirement.
2. They got the money interest-free on the week-ends (kinda like "0" and
"00" on a roulette wheel).

Still, my customer made some money on otherwise idle funds.

Anyway, banks can do it if properly incentivized.



Similar ThreadsPosted
Need help with changing banks April 28, 2008, 4:24 pm
Electronic Banking Checks Do Not Show in Reconcilation July 11, 2006, 12:52 pm
QBP2007 Electronic Document Management Software February 8, 2008, 4:01 pm
Accepting electronic payments, after they've been matched from online bank? February 19, 2007, 5:50 pm
how can I transfer $ from one class to another? July 27, 2006, 1:12 pm
How to transfer from account March 20, 2007, 8:45 pm
Transfer QBP2004 to new computer.. March 24, 2007, 8:07 pm

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap