Personal Finance

Best way to move funds domestically(from personal bank account)

  • Last Updated:
  • Apr 6th, 2020 2:45 pm
[OP]
Newbie
Mar 18, 2020
5 posts

Best way to move funds domestically(from personal bank account)

Looking at transfering about $50K to a business(long story), and they are asking for a wire transfer. Would anybody know whether this can be done from home electronically, or would you have to go into the branch(I bank with TD)? Was on hold for 20 minutes with TD and hung up...thx.
2 replies
Newbie
Aug 15, 2018
73 posts
66 upvotes
You would need to go to the branch and show your ID.

In order for the bank to transfer the funds, the destination account needs to be with TD as well.
Alternatively, if it is not with TD bank, you will need to request a bank draft payable to the person you are giving it to.

Your third option is to just write them a check for the 50k, and they can deposit it. No need for going to the bank for this option.

I hope that helps, cheers.
Newbie
Jun 25, 2012
26 posts
13 upvotes
MONTRÉAL
If you want to transfer fund from your personal account to your business account, write a personal check and deposit (with App) into your business checking account. That's it. I did many times to transfer funds.
Another way is e-transfer. I know that there is limit per day (depending on your bank); but you can do it day-by-day.

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