Deposit Cash into the Desired Account
First method is a two-step procedure. You will have to go to the branch of your bank where you maintain an account and withdraw the required amount of money. Then you will have to go to the other party’s bank and deposit these funds in a relevant account.
Though, you will have to make two transactions through this method but still you will be able to save a lot of time.
Deposit a Check into Desired Account
If your banking system supports it, you can also write a cheque and deposit it directly into the other party’s bank account. This is a single step method of transaction and you will have to visit only one branch.
However, you may face a delay in the transfer of funds as banks need time to verify your cheque. So you better avoid this method if immediate delivery of funds is required.
Another easy way to transfer money from your bank to another bank is wire transfer. Though, it may cost you a bit but it is very quick and effective. Your receiver will have the money in his account without any delay.
All you need is to visit you bank and request for the transfer. You can also do it by just calling your branch manager. In this case, he will ask few questions for safety and if you prove your identity then he will make the transaction.
If you have an online account then it is the best and the most convenient way to transfer money. You will have to log into your account by providing pertinent information, choose the relevant bank, put the account number of the other party, enter the amount and transfer the money.