How To Transfer Money From One Financial Institution To Another

The best way to transfer money from one bank or credit union to another will depend on your unique circumstance. Luckily, there are many options to choose from, and the friendly staff at HFCU is here to help.

Wire Transfers
Wire transfers are great for sending large sums of money from one financial institution to another, and from one country to another, for a fee.

This is the simple, traditional method. There are usually no fees for writing and cashing a check at your credit union, but there is sometimes a hold on when funds are available or a delay on when funds are taken out of your account.

Money Orders
Money orders are like checks, except funds are paid upfront so there’s no risk of a money order bouncing. They are a good alternative if you don’t have a checking account; however, you do pay a fee per money order.

With PayPal, you create an online account that links to your checking account or credit card. This digital payment platform offers instant transfers between accounts, eChecks and a line of credit.

Zelle® is a popular mobile app that links to your checking account. It’s an easy way to send and receive money between friends and family and there are no transfer fees.