topic Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions) in Personal Finance

TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

TheFIGuy — Fri, 13 Nov 2020 02:13:19 GMT

Hey myFICO Family,

Keyword Searches: USB, US Bank, U.S Bank, Checking, Checking Account, Transfers, Send Money

This might already be common watering hole knowledge, but I couldn't find anything via my expansive search here or Reddit. I could also be shi*** at searching, so I'm going to provide detailed instructions on how to send/transfer money to an external financial account from a U.S Bank (USB) checking account for FREE. I have also provided a "Keyword searches" section above in case someone in the future searches for something along the lines and struggles to find the right keyword terms.

For this method to work, you MUST be enrolled in bill pay, e-billing, or bill payments (the USB representative used all three names, so that I will include them all in this post). If you're unsure if you're enrolled, give US Bank (USB) a call and ask if you have successfully enrolled previously; if not, enroll.

*"Send Money" to an External Account Details Below:

Login to US Bank Account
Select "Send Money"
Select "Send to account" in the drop-down box
Input your Bank account name into the section named "Add someone new" and save
Select your Bank Account Name
Press Continue
Select your US Bank Checking Account you would like to Transfer/Send Money from
Inside the "Choose Account" section, select "Edit."
Select "Add a bank account."
Add your external checking account details: Routing and Account Number to link with the Bank Account Name
Select SAVE in the smaller window FIRST
Select save located at the bottom middle of the pop-up window
Select the Checking account if it's not already pre-selected
Press continue
Choose how much you want to send
Press continue
READ the description of when the money will be debited from your US Bank account and sent to the external account
Select send
You're DONE, YAY!

*These instructions are accurate as of 11/12/2020 and are subject to change as US Bank (USB) changes their website interface!

This method:

It is completely FREE and, from what the USB CSR told me, utilizes the bill payment network.
Only works via the US Bank (USB) website interface as of 11/12/2020

Hopefully, this helps other US Bank Checking Account holders!

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

Anonymous — Fri, 13 Nov 2020 02:15:16 GMT

Could also pull from USBank from the external one, if the external is free (usually is)

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

TheFIGuy — Fri, 13 Nov 2020 02:18:54 GMT

@Anonymous wrote:
Could also pull from USBank from the external one, if the external is free (usually is)

Awesome comment!

Yes, that is correct, but some external financial accounts—(Charles Schwab) put a 4+/day hold on fund initiated from their financial institution. Also, I personally prefer the "ACH" push instead of pull.

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

AllZero — Fri, 13 Nov 2020 02:46:32 GMT

Thank you for sharing the information.

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

Veronik2019 — Fri, 13 Nov 2020 14:02:57 GMT

Or just use Zelle and it deposits instantly?

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

M_Smart007 — Fri, 13 Nov 2020 16:25:09 GMT

@Veronik2019 wrote:
Or just use Zelle and it deposits instantly?

As long as you are not trying to transfer $50K

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

M_Smart007 — Fri, 13 Nov 2020 16:30:25 GMT

Thanks for posting OP .. as I had always just written a check from US Bank when necessary,

to deposit via phone APP to another institution.

or pulled from ...

I usually ACH deposit to US Bank (where I pay only my CC Bills from)

ACH is push from Chase, and it is done real time "immediately"

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

Veronik2019 — Sat, 14 Nov 2020 11:24:07 GMT

Lol right right. I'm talking mouse money not lion money.

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

VPExecutive — Wed, 18 Nov 2020 22:59:45 GMT

@Anonymous wrote:
Could also pull from USBank from the external one, if the external is free (usually is)

Could also just not use U.S Bank and find a better institution that also provides free ACH transfers (like almost every bank).

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

Anonymous — Thu, 19 Nov 2020 01:19:03 GMT

So, @TheFIGuy , one alternative option is to transfer the funds from an investment account instead. They charge $0 for outbound transfers from investment account... $3 from regular checking. Doesn't make much sense, but that's Socks Bank for you.... They're still a little bit in the past.

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

Anonymous — Thu, 19 Nov 2020 19:53:17 GMT

Since I have DD with USB i just pull from my Chase account every pay day, and then transfer whatever funds need be from there to whoever. With just enough left at USB to pay my CC's with them and leave a few Hundred in the account.

I signed up for that checking account just for the SUB and had planned to switch back to Chase at some point anyways. Though now with Cap1 offering $400 I may go that route first.

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

SlideOrInsert — Tue, 24 Nov 2020 20:34:14 GMT

my experience with this was limited.

first I selected "send money with zelle," then "send to account," and followed the steps where I was hit with the following limits. maybe because my account is still < 30 days old?

after I added my account, I received an email stating I was now enrolled in popmoney. which I was told by a previously used local credit union uses ACH, but never used the service personally.

next I tried adding my account under "transfer money," then tried to "pay my US bank account." but received the notice I did not have any eligable accounts.

lastly, I tried to add my account as a bill payee where it did ask for account and routing numbers but acts like it will be sending a check.

if I am doing this wrong, is anyone who was successful able to provide screenshots?

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

Anonymous — Wed, 25 Nov 2020 01:08:06 GMT

@SlideOrInsert wrote:
my experience with this was limited.

first I selected "send money with zelle," then "send to account," and followed the steps where I was hit with the following limits. maybe because my account is still < 30 days old?
after I added my account, I received an email stating I was now enrolled in popmoney. which I was told by a previously used local credit union uses ACH, but never used the service personally.

next I tried adding my account under "transfer money," then tried to "pay my US bank account." but received the notice I did not have any eligable accounts.

lastly, I tried to add my account as a bill payee where it did ask for account and routing numbers but acts like it will be sending a check.

if I am doing this wrong, is anyone who was successful able to provide screenshots?

My Zelle limits increased with time with US Bank but are still not high. Pretty much all banks are limited in the amount you can transfer daily/monthly. If you want to transfer large amounts of cash, Zelle is not the way to go.

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

SlideOrInsert — Wed, 25 Nov 2020 02:59:23 GMT

the original post made no referrence to zelle, nor is it my intention to use zelle. I was more curious if anyone else was able to follow the described process with different results.

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

TheFIGuy — Wed, 25 Nov 2020 03:24:26 GMT

Hey @SlideOrInsert,

From my quick reading, it looks like you didn't add the bank account to the "recipient" (which is really easy to do within USB menus). I'm sorry my direction does not include pictures .

I recommend re-reading from number seven (7) and going down the list again. Remember to hit the smaller save button before the LARGER save button inside that popup window.

I'm here to help regardless!

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

SlideOrInsert — Wed, 25 Nov 2020 23:27:38 GMT

I am able to add my account.

I initiate sending money.

when the amount is specified the limits are presented.

so the main question is still did I follow the correct process and is this a limit for everyone or just me?

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

TheFIGuy — Wed, 25 Nov 2020 20:35:29 GMT

Hey @SlideOrInsert,

It looks like you got it all setup. Congrats!

Yes my limit is 1k, I called USB to attempt to increase said limit and was told it wasn't possible. The limit is imposed by "blah, blah, blah" and it automatically goes up with use. I did not HUCA as I was on-hold with USB for 1+ hr with multiple transfers and lost patience that day.

if you try report back your findings please!

Re: TIP: U.S Bank (USB) Checking Account Transfer/Send to External Financial Accounts (Instructions)

SlideOrInsert — Wed, 25 Nov 2020 23:28:26 GMT

I received this email after I added my account.

so with the same limits as zelle, this is slower than using zelle (relatively instant) as this method uses popmoney which I was led to believe is ACH (1+ days).

and likely it is still considered a P2P payment rather than electronic transfer/direct deposit.