Transfer money from bank to bank?

The return SG

1. Would I be able to transfer money from one bank (e.g citibank) to another bank (e.g. OCBC) without taking any money out? If can, how do I do it? Can transfer without online transaction?

2. Another thing is, if I close a bank account (e.g. citibank), would I be able to transfer all the money in there to another bank account (e.g. OCBC) without taking money out? How to do it ar?

Your help is deeply appreciated.

Very Happy

yiha093 SG

y cant u take the money out? Rolling Eyes

FireIce SG

1. use internet banking. transfer to 3rd party bank account

2. cannot. close account must go to bank to close. they will give u all the money in cheque or cash (if not a lot). then u take the money go another bank and open another acct

ditzy SG

If you can't take the money out, how are you going to transfer it elsewhere? Laughing If its your money, and you can't take it out, is it still your money? I'm not talking about CPF here.

mancha SG

Check with your bank.

Every month, companies are transfering monies from the co bank account to the various bank accounts of their employees.

Just give instructions?

The return SG

Use cheque also can open account in another bank.?

The return SG

Let's say for the money is 1 million dollar ( Laughing ) and for safety, you don't want to take all out and keep at home?

sunny6110 SG

yesh

sunny6110 SG

scared juz buy a cashier's order at the counter...

de_middle SG

no not possible....u have to manually transfer the physical cash over to another bank Smile

The return SG

What is cashier's order ar? Cheque?

The return SG

The cheque got expiry date or not? Laughing Like if you don't bank in after certain date, then the money written there will be gone?

AsTr0GiRL SG

Well, I think u can request for them to do a MEPS transfer for u. But there’ll be a charge and u’ll need the information of the account that u’re intending to transfer to. That is for S$ interbank transfer within Singapore.

AsTr0GiRL SG

Cashier’s order is juz like a normal chq but crossed and a/c payee only and confirmed won’t bounce one. the validity is for 6 months.

The return SG

What is the difference between a crossed and non-crossed cheque?

AsTr0GiRL SG

A chq that’s not crossed at the corner can be encashed. A chq that’s not crossed bearer is payable to anyone who is holding the chq.