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I'm thinking about switching banks because my bank charges like a $35 electronic funds transfer fee. So if I want to pay my credit card bill I have to write a check or pay $30 which I think is ridiculous.
do most banks charge a $30 wire transfer fee?
- Thread starter The motor guy
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A wire transfer is different from a bill pay. Wire transfer is a old school way of transferring money electronically, it uses fax machines etc and the banks don't want to deal with it. I HAD to do one recently for a mortgage refinance and it was a PITA with all the faxing back and forth.
Many banks have automatic bill pay for free to deal with credit card, utilities, etc.
You could also have the credit card "pull" from the bank. that is free as well. Just make sure you have the money waiting so you don't overdraft and get fees from both sides.
Many banks have automatic bill pay for free to deal with credit card, utilities, etc.
You could also have the credit card "pull" from the bank. that is free as well. Just make sure you have the money waiting so you don't overdraft and get fees from both sides.
Originally Posted By: motor_oil_madman
I'm thinking about switching banks because my bank charges like a $35 electronic funds transfer fee. So if I want to pay my credit card bill I have to write a check or pay $30 which I think is ridiculous.
Do you think the next bank won't charge fees? Write a check.....!
I'm thinking about switching banks because my bank charges like a $35 electronic funds transfer fee. So if I want to pay my credit card bill I have to write a check or pay $30 which I think is ridiculous.
Do you think the next bank won't charge fees? Write a check.....!
Originally Posted By: motor_oil_madman
I'm thinking about switching banks because my bank charges like a $35 electronic funds transfer fee. So if I want to pay my credit card bill I have to write a check or pay $30 which I think is ridiculous.
They all charge about the same, 30 bucks is about right. Cost of doing business.
I'm thinking about switching banks because my bank charges like a $35 electronic funds transfer fee. So if I want to pay my credit card bill I have to write a check or pay $30 which I think is ridiculous.
They all charge about the same, 30 bucks is about right. Cost of doing business.
Wire transfer and bill pay are two completely different things. $30 for a wire transfer is about right. Most banks have "Bill Pay" for free. Bill pay is what you would use to pay your credit card with.
Something new to me is Epay, as long as you know the other persons email address you can send money for free in the US and Canada. I also use PayPal when ever I can as well.
A wire transfer is immediate and costs $$$
An ACH transfer takes 3 days and is free. If an ACH is not free for you you need to switch banks.
You shouldn't need to ask for an ACH transfer, it's how 99% of us do it.
Was this CC bill immediately or past due? It costs money to live on the edge.
However, if you start an ACH payment on your CC due date, the CC bank "knows its coming" and when the money goes through it'll count on the start date. So unless you're trying to turn on something that was shut off, an ACH should do you.
An ACH transfer takes 3 days and is free. If an ACH is not free for you you need to switch banks.
You shouldn't need to ask for an ACH transfer, it's how 99% of us do it.
Was this CC bill immediately or past due? It costs money to live on the edge.
However, if you start an ACH payment on your CC due date, the CC bank "knows its coming" and when the money goes through it'll count on the start date. So unless you're trying to turn on something that was shut off, an ACH should do you.
Originally Posted By: danez_yoda
A wire transfer is different from a bill pay. Wire transfer is a old school way of transferring money electronically, it uses fax machines etc and the banks don't want to deal with it. I HAD to do one recently for a mortgage refinance and it was a PITA with all the faxing back and forth.
Many banks have automatic bill pay for free to deal with credit card, utilities, etc.
You could also have the credit card "pull" from the bank. that is free as well. Just make sure you have the money waiting so you don't overdraft and get fees from both sides.
Agreed...wire transfer is different. I'll bet your credit card's website has the ability to pay from a checking account....all of mine do. If yours doesn't, maybe it's time to change credit cards.
A wire transfer is different from a bill pay. Wire transfer is a old school way of transferring money electronically, it uses fax machines etc and the banks don't want to deal with it. I HAD to do one recently for a mortgage refinance and it was a PITA with all the faxing back and forth.
Many banks have automatic bill pay for free to deal with credit card, utilities, etc.
You could also have the credit card "pull" from the bank. that is free as well. Just make sure you have the money waiting so you don't overdraft and get fees from both sides.
Agreed...wire transfer is different. I'll bet your credit card's website has the ability to pay from a checking account....all of mine do. If yours doesn't, maybe it's time to change credit cards.
You can pay at the credit cards website, for free.
Also, most banks have free online bill-pay, that you setup through their website. It is also free.
Writing a check, putting it in a 10 cent envelope, and sticking a 46 cent stamp on it is a ridiculous waste of money, in this day and age.
If you are WIRE TRANSFERRING your money to the credit card company at $30 per transaction, you are doing it wrong.
Also, most banks have free online bill-pay, that you setup through their website. It is also free.
Writing a check, putting it in a 10 cent envelope, and sticking a 46 cent stamp on it is a ridiculous waste of money, in this day and age.
If you are WIRE TRANSFERRING your money to the credit card company at $30 per transaction, you are doing it wrong.
If the issuing bank has ATMs you should be able to write a check and deposit it at the ATM. Only works if the card is issued by the same bank as the ATM. So, say the card is Citibank you should be able to pay at any Citibank ATM. The payment will be posted on the date and time you make the deposit, so assuming you are on or before the due date, you're account is in good standing.
Can't the CC be listed as a bill payee on telephone or internet banking? That is another way to pay the due amount on a card not issued by your bank.
Your CC issuer might consider the postmark on a snail mailed check as the posted date, meaning you won't be late if you mailed it on or before the due date. Call and ask. And while you're calling, ask for a lower interest rate. You should be asking for a lower rate on all your cards once a year. Don't do it more often, they take note of your calls, but don't wait after 12 months has passed either.
Can't the CC be listed as a bill payee on telephone or internet banking? That is another way to pay the due amount on a card not issued by your bank.
Your CC issuer might consider the postmark on a snail mailed check as the posted date, meaning you won't be late if you mailed it on or before the due date. Call and ask. And while you're calling, ask for a lower interest rate. You should be asking for a lower rate on all your cards once a year. Don't do it more often, they take note of your calls, but don't wait after 12 months has passed either.
Yeah, wire transfers aren't the right way to pay a bill. It's fairly cumbersome and expensive, but if someone distant needs money RIGHT NOW, it's the only way to do it.
Otherwise use your bank's online bill pay. It takes 2-3 days (sometimes quicker than that nowadays) but it'll get there and it's free and painless. The other option is to use your checking account's routing & account number, and have the credit card company initiate it through your bank (available on THEIR website). Either way, it's the same.
Otherwise use your bank's online bill pay. It takes 2-3 days (sometimes quicker than that nowadays) but it'll get there and it's free and painless. The other option is to use your checking account's routing & account number, and have the credit card company initiate it through your bank (available on THEIR website). Either way, it's the same.
Wire Transfers are typically used for real estate transactions, or some high dollar transactions where funds need to be verified instantly.
Do you not have online bill pay?
I have a free checking account with Chase, which they paid me $300 to open.
I pay all my bills including credit cards with their online bill pay service.
Some payments are delivered electronically in 1 day, others they print a physical check and mail it to the company in 3-5 business days.
Either way I pay zero dollars.
We pay about 20 bills per month, and have never had a problem with the service, not once.
Do you not have online bill pay?
I have a free checking account with Chase, which they paid me $300 to open.
I pay all my bills including credit cards with their online bill pay service.
Some payments are delivered electronically in 1 day, others they print a physical check and mail it to the company in 3-5 business days.
Either way I pay zero dollars.
We pay about 20 bills per month, and have never had a problem with the service, not once.
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BofA does, but they charge for everything. Local c/u does as well.
Originally Posted By: 123Saab
Cant you just pay the CC bill online with a check or using your checking accounts debit card?
Right. You can also monitor everything easily and conveniently when registered online...
Cant you just pay the CC bill online with a check or using your checking accounts debit card?
Right. You can also monitor everything easily and conveniently when registered online...
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So what about transferring money from an account at one bank to an account at another?
Or how about doing an online transfer from my bank account to my online credit card account so I can pay my credit card bill today?
What's the difference?
Or how about doing an online transfer from my bank account to my online credit card account so I can pay my credit card bill today?
What's the difference?
Nick1994
$100 site donor 2024
They shouldn't charge you to pay a credit card bill.
I have a credit union for my checking account and a Bank of America credit card. They withdraw from my checking account to pay off my credit card. (I don't have a BofA checking account).
I also have a Chase car loan that withdraws from my credit union account with no charge.
I have a credit union for my checking account and a Bank of America credit card. They withdraw from my checking account to pay off my credit card. (I don't have a BofA checking account).
I also have a Chase car loan that withdraws from my credit union account with no charge.
Originally Posted By: motor_oil_madman
So what about transferring money from an account at one bank to an account at another?
My bank does it for free. I can transfer money from my checking to my wife's account, at a different bank, for free. Takes 2 days or so.
PayPal also works. Use the gift option, and there are no fees.
So what about transferring money from an account at one bank to an account at another?
My bank does it for free. I can transfer money from my checking to my wife's account, at a different bank, for free. Takes 2 days or so.
PayPal also works. Use the gift option, and there are no fees.
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Originally Posted By: motor_oil_madman
I'm thinking about switching banks because my bank charges like a $35 electronic funds transfer fee. So if I want to pay my credit card bill I have to write a check or pay $30 which I think is ridiculous.
Just saw this.
Gain online access for your card and pay it using their online portal. Sending a wire transfer to pay a credit card bill is ridiculous. People actually do this?
I'm thinking about switching banks because my bank charges like a $35 electronic funds transfer fee. So if I want to pay my credit card bill I have to write a check or pay $30 which I think is ridiculous.
Just saw this.
Gain online access for your card and pay it using their online portal. Sending a wire transfer to pay a credit card bill is ridiculous. People actually do this?
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