How do I transfer a relatively large amount of money between banks?

[BlahBlahYouToo]

I need to transfer $80k between 2 banks.
External transfers are limited to 2k per transaction and takes 3 days.

I was thinking to write myself a check but doesn't it raise flags if it's over $10k or is that just for cash deposits?

 

[Jeffg010]

wire you will need account numbers between both banks. Your current bank will know what to do.

 

[Capt Caveman]

What do you mean by external transfers?

I've been able to ACH $100k+ between bank accounts. You can also wire it for a fee.

Using a bank check will cause the full deposit to be delayed up to ten business days.

 

[isekii]

send it to me
i'll help you launder your money

 

[Mixolydian]

Just write a check to yourself from the old account and deposit it into the new account.

 

[xanis]

Wire it to yourself if you need it soon, or get a bank check if you don't mind waiting a couple business days for it to clear.

 

[Texashiker]

Take out cash, put it in a paper bag, then take it to the other bank.

Duh, is this a trick question?

 

[Jeffg010]

Wire is the fastest way to get it cleared. Doing a check can take like 10 days.

 

[xanis]

Take out cash, put it in a paper bag, then take it to the other bank.

Duh, is this a trick question?

You're kidding, right? Why would you ever want to carry $80K in cash?

 

[Texashiker]

You're kidding, right? Why would you ever want to carry $80K in cash?

For the fun of it.

 

[rivan]

 

[wirednuts]

For the fun of it.

i would do it too

 

[BlahBlahYouToo]

What do you mean by external transfers?

I've been able to ACH $100k+ between bank accounts. You can also wire it for a fee.

Using a bank check will cause the full deposit to be delayed up to ten business days.

I go online, click on the 'external transfer' link, and then it says capped at 2k and takes 3-5 business days.

Never knew about wiring. Sounds like the way to go, thanks.

 

[kranky]

Wire the money between accounts if you are in a hurry (processed same day), write a check if you're not.

 

[IronWing]

Wire tranfers usually have a fee attached. Writing a check works. Too bad your bank limits AHC amounts, no fees there.

 

[purbeast0]

I go online, click on the 'external transfer' link, and then it says capped at 2k and takes 3-5 business days.

Never knew about wiring. Sounds like the way to go, thanks.

why don't you physically go to the bank and ask them about it? this has to be a common issue that comes up that has to have a pretty simple solution.

 

[BlahBlahYouToo]

why don't you physically go to the bank and ask them about it? this has to be a common issue that comes up that has to have a pretty simple solution.

Why when I could just ask here and get the same answer?
I'm in no rush and might just write myself a check if the irs doesn't get involved.

 

[SunnyD]

Small bills, folded into origami pigs, stored in Dunkin Donuts boxes.

 

[Capt Caveman]

Why when I could just ask here and get the same answer?
I'm in no rush and might just write myself a check if the irs doesn't get involved.

Why would the IRS get involved? It's not that much.

 

[kt]

If both accounts are under your name, I don't see why the IRS would even care.

 

[spidey07]

Why would the IRS get involved? It's not that much.

IRS only cares about cash. They don't care about transfers or checks. If OP took out >10k in cash that's a flag and form. Deposting over 10k as well.

 

[RockinZ28]

2k transfer limit wtf? Change banks unless they're giving you some great interest rates or something.

 

[JTsyo]

You're kidding, right? Why would you ever want to carry $80K in cash?

Wait, you never taken money from the bank and filled tub and laid i it and just return it the next day?

 

[nanobreath]

I go online, click on the 'external transfer' link, and then it says capped at 2k and takes 3-5 business days.

Never knew about wiring. Sounds like the way to go, thanks.

Bolded the source of your problem. I assume they limit the amount you can transfer online to limit fraudulent transfers. Go to the bank in person, and you will have no problem transferring the money.

 

[ElFenix]

brag thread is obvious