Banking advice please!

**nuisance26** · 01-02-2010, 12:54 PM

~I want to close my local savings account and put the money in my online savings account. I can only think of two ways to do this quickly.
One, close the account and take the cash or a cashier's check and drive 1/4 a mile to my checking account bank and deposit it there. My checking account and my online savings are connected.
Two is a wire transfer from my savings bank to my online savings.
The cashier's check is about $10, the wire transfer is $20. I don't think I'd feel safe walking out of the bank with so much cash on me although it's a nice part of town.
Am I missing any other options? What would you do?~

**ladytoysdream** · 01-02-2010, 01:03 PM

Large sum of money to transfer... use the cashier check.
A few dollars spent for peace of mind is a good thing.

**monkeywrangler71** · 01-02-2010, 01:04 PM

Can't you just connect it to the online account and transfer it?

**McD** · 01-02-2010, 01:09 PM

Does the bank your savings account is with offer online bill pay with their savings account? Do they offer an ATM card with the savings account?

**nuisance26** · 01-02-2010, 01:09 PM

Originally Posted by monkeywrangler71

Can't you just connect it to the online account and transfer it?

~It's an ING account and I can't see anywhere to add a savings account for transfer purposes.~

**nuisance26** · 01-02-2010, 01:11 PM

Originally Posted by MrsMcDowell

Does the bank your savings account is with offer online bill pay with their savings account? Do they offer an ATM card with the savings account?

~Nope, neither of those, just with their checking accounts. The lady I spoke to suggested I start a checking account there so I can transfer money myself but I don't need another account. I need one less account.

~

**dcompton** · 01-02-2010, 04:05 PM

Have you contacted ING to ask if it is possible to do an online transfer from a savings account? There may be a way - I'm sure they want your money!

**nuisance26** · 01-02-2010, 04:29 PM

Originally Posted by dcompton

Have you contacted ING to ask if it is possible to do an online transfer from a savings account? There may be a way - I'm sure they want your money!

~Hadn't even thought about that. I'll email them and find out.~

**McD** · 01-02-2010, 05:59 PM

Also, if you have your old bank do a wire--there is generally an outgoing wire fee from teh old bank as well as an incoming wire fee at your new bank. I have no experience with ING so I'm not sure if that applies to ING or not.

**Libby** · 01-06-2010, 10:40 AM

I'd opt for the do it yourself via cashiers cheque. This way there will not be any glitches when you close your account as you're doing it in person, they can't chase you going "Oh wait, you forgot this..." blah blah blah. It will be closed, for sure, forever

AND you can get a statement to confirm this. All done at one time.

For stuff like this, I'm a believer for the whole 'in person' thing.

**McD** · 01-06-2010, 01:50 PM

I would opt for the cashier's check as well. You might get lucky and get a teller who would waive the fee.

When I was working at the bank, I waived the fee on a lot of big checks simply because I wasn't willing to let the customer take that much out in cash. It's a big risk for the customer and it made a lot more work for me. So I gave them the check with no fee.