Transferring money

[aussiebochur]

This doesn't have to do with earning miles, just a general question.(Perhaps wrong board Feel free to move it.)

Is there a way to transfer money from my account to someone else's without using paypal or similar and without paying a wire fee?
It doesn't have to be immediate.
When I spoke to Chase, they said that I can deposit cash directly into anothers account (which works, just a pain to shlep to the bank) but there is no way to do it online.
Is that true? If so, do other banks allow you to do it?

Not too familiar with the banking system here so any advice is appreciated.

[moish]

ach

[aussiebochur]

ach

Without a fee?

[moish]

yes

[aussiebochur]

yes

Chase seems to charge $25 for first 25 and then $0.15
 https://www.chase.com/index.jsp?pg_name=ccpmapp/smallbusiness/online_banking/page/bb_ach

Are you talking about something else?

[moish]

thats strange i do it all the time. i just initiated one yesterday. ill let you know what happens

[SuperFlyer]

use quickpay, chase to chase free.

[moish]

so far it cleared and no fee. maybe your link referred to biz accounts

[yudel]

from BofA acc. to another within BofA you can transfer online and it's pretty much instant but there's a $1000 daily limit...chase same deal though idk if u can do it online maybe just over the phone

[moish]

did you read what i just wrote?

[aussiebochur]

thats strange i do it all the time. i just initiated one yesterday. ill let you know what happens

so far it cleared and no fee. maybe your link referred to biz accounts

When you log in to your personal account you have the option of ach payments? Is it one of the tabs on top? I can't seem to find it.
Your not talking about "Quick Pay", right?

[moish]

on chase.com after you log in, theres a tab that says "payments & transfers". when youre in there theres a tab that says "account transfers" . in there there are 4 options to chooses from. first you have to set up an external account, then when thats set up you can schedule a transfer

[aussiebochur]

on chase.com after you log in, theres a tab that says "payments & transfers". when youre in there theres a tab that says "account transfers" . in there there are 4 options to chooses from. first you have to set up an external account, then when thats set up you can schedule a transfer

Thanks mate.

Any other banks that also offer free ACH?

[moish]

youre welcome czech

ive done it with all the banks including bofa bankdirect and wachovia

[Yordai Dooma]

Moish- with that chase option, you don't pay any fees? It always says something there about a fee

[andrew]

moish it says on the chase website "   Add an external account — Complete the required fields below and click "Next".
You may add external accounts to your online profile as long as: (1) you own the account, (2) the account is a U.S. bank account, and (3) we can verify the account information you've provided,
i think quick pay allows you to do it as long as either the sender or receiver of the money has a chase account

[moish]

no fees

[AsherO]

Moish- with that chase option, you don't pay any fees? It always says something there about a fee

I don't remember seeing anything about a fee. Maybe they're referring to the receiving bank.