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Old 04-16-2013, 03:11 AM
 
1 posts, read 2,812 times
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i have sbi-interner banking facility.but i want transfer sbi to other bank account is it possible or not.
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Old 04-16-2013, 09:38 AM
 
Location: Victoria TX
42,554 posts, read 87,003,003 times
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The short answer is no. Although as indicated in a few posts above, your bank might allow for a laborious and difficult process requiring a prior setup, and probably charging a fee for the service.

You can walk in off the street and deposit money into any account you want, no problem, even the account of a complete stranger. You can phone your dentist's office and pay your bill with your credit card, no problem. But you cannot phone your bank and deposit money in your own account from another source of your own funds. Banks don't know how to do that. Where did you get the idea that your bank is there to provide services involving financial transactions?
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Old 04-16-2013, 12:07 PM
 
Location: Keosauqua, Iowa
9,614 posts, read 21,275,785 times
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Quote:
Originally Posted by Klkumar View Post
i have sbi-interner banking facility.
You own a bank? Cool.
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Old 04-16-2013, 12:21 PM
 
Location: Coastal Georgia
50,378 posts, read 64,007,408 times
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Your bill pay on your main bank account, most probably has something called P2P (pay to person) or something similar. Our bank does not charge for this. It's free, just like bill pay.
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Old 04-16-2013, 01:02 PM
 
Location: southwestern PA
22,592 posts, read 47,689,519 times
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Quote:
Originally Posted by jtur88 View Post
But you cannot phone your bank and deposit money in your own account from another source of your own funds. Banks don't know how to do that.
Sure they do, but via internet, not phone.
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Old 04-16-2013, 02:31 PM
 
Location: NJ
31,771 posts, read 40,711,393 times
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i use my fidelity account to transfer money between my accounts. i transfer money at least weekly from my account that gets my paycheck directed deposited. if i need to transfer money from separate accounts to each other, i still use fidelity. i just set up a take from one account and a transfer to another account. its using fidelity as the middle man, but there is no fee so its no big deal.

oh and i did a one time set up for each account, just put in the account and routing info. it took a little more than a week from putting in that info to being allowed to transfer money to/from that account. i dont recall them doing test transfers.
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Old 04-18-2013, 09:23 AM
 
Location: Victoria TX
42,554 posts, read 87,003,003 times
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Quote:
Originally Posted by Pitt Chick View Post
Sure they do, but via internet, not phone.
Not without prior arrangement, at both ends, which usually takes days. My point was that no prior arrangements are necessary for me to, on the spur of the moment, personally deposit cash at the teller's window into any account, or transfer funds from my credit or debit card to any place of business that accepts a card. Those two transaction types cannot be done together in a bank, because banks simply refuse to enable it, without prior arrangement. And the banks, without prior arrangement, will not accept any funds remitted to them except by personal appearance in the bank or physical presentation of an instrument representing the funds.

That's why there is Western Union, ripping people off for about 10% of funds transferred, and still requiring both parties to physically present themselves at a Western Union office that has sufficient funds on hand during business hours. We're still in the 19th century, as regards transfer of funds from one person to another.
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Old 04-18-2013, 12:38 PM
 
Location: southwestern PA
22,592 posts, read 47,689,519 times
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I am guessing that should be sbi-internet, as SBI is an online bank in India.
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Old 01-12-2014, 01:26 PM
 
1 posts, read 1,944 times
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i want to transfer my investments from Europe to an American bank how do i do that without incurring massive legal and tax problems
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Old 01-16-2024, 05:32 AM
 
106,695 posts, read 108,880,922 times
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Quote:
Originally Posted by CaptainNJ View Post
i use my fidelity account to transfer money between my accounts. i transfer money at least weekly from my account that gets my paycheck directed deposited. if i need to transfer money from separate accounts to each other, i still use fidelity. i just set up a take from one account and a transfer to another account. its using fidelity as the middle man, but there is no fee so its no big deal.

oh and i did a one time set up for each account, just put in the account and routing info. it took a little more than a week from putting in that info to being allowed to transfer money to/from that account. i dont recall them doing test transfers.
Same

I always transfer from fidelity to banks Nice and easy
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