Funny I tried to setup Zelle with TD Bank the other day and they told me not to use it to send money to myself.
How do Americans send money from one bank to another for accounts they operate?
How do Americans send money from one bank to another for accounts they operate?
Some banks offer external bank transfers through their online portal, and sometimes with a small transaction fee. I've been told by my bank with that transaction fee that you can avoid it by using the "bill pay" feature and just inputting your other bank account's routing and account information. I think that all works over ACH anyways.
TD also wanted me to come into a branch with a bank statement from my other bank. Not ideal since they don't operate west of South Carolina and I'm in California.
It always struck me as an odd product, since I can just plug my ACH info in directly, but it does provide some level of convenience by allowing, say, a roboadviser app to show the embedded balances of my other accounts.
I’m amazed banks put up with it.