If you have money in your SavingsAccount with WSECU, then you can transfer funds to a new bank account with relative ease. Simply visit a branch office or call the toll-free number on your card to make the transfer. You may also use an ATM machine to make the transaction more convenient. If you use an ATM card from a different bank, then you may be charged a fee by your bank. Nonetheless, this is still a better option than using a cheque or sending money through the post. You can use our easy-to-follow guide to find out how to transfer your money with WSECU in a snap.
Get Your ATM Card
The first step to transferring your money with WSECU is to get an ATM card. You can use any ATM card at a participating bank and our system will recognise it. You will not need to enter any additional information to complete the transaction. If you are using an ATM card from a different bank then you may need to enter your PIN (Personal Identification Number) to complete the transaction. Please note that there is usually a fee associated with using an ATM card from a different bank but using an ATM card from a participating bank does not cost you anything. You can use our handy tool to find the best deal for your bank cards.
Open A Savings Account
The next step is to open a SavingsAccount with WSECU. You can find out more about the benefits of having a SavingsAccount with us by visiting our website or getting in touch with a customer service representative via live chat or phone. Once you have your account open, you can add money to it using any of the following methods:
- By Direct Deposit
- By Electronic Fund Transfer
- By Standing Order
- By Bill Payment
- By Cheque
- By Phone
- By Mail
You can also stop paying into your account once you have reached your financial goals or when you want to make a withdrawal. When you open a SavingsAccount with WSECU then we will give you a free debit card that you can use to make purchases. You can put this card onto the card reader at an outlet store and the amount you spend will be deducted from your SavingsAccount. You can use our savings calculator to work out how much you can save and how much you can afford to spend each month.
You can choose to have your money deposited directly into your account or into a joint account that you and your spouse/partner share. In case you are wondering, you can also set up a standing order to have your bank debit your account automatically each month. This is quite a convenient way to keep track of your spending without having to think about each transaction as you make it. It’s a nice little extra for those whose hours are more hectic than they are regular.
If you already have a checking account with another bank, then you can use it to make your transfers with WSECU. Simply log into your current account and follow the onscreen instructions. Your transfer will be reflected in your statement the next time your bank sends one out. You can also ask your bank to send you a paper copy of your statement.
Many people choose to keep their money in a combination of high-interest savings accounts and low-interest checking accounts. These are known as “hybrid” accounts. While it is generally not a good idea to keep your money in a checking account, the convenience of having a checking account for temporary cash flow outweighs the relatively tiny risk of it going missing. At the same time, you can enjoy the flexibility of a savings account for long-term storage of value. If you decide that you need the convenience of a checking account, then you should get in touch with your bank directly or use an online banking platform to set up direct access to your account without going through a third party. This way, you can monitor your spending without delay.
Make The Transfer
Once you have your savings and checking accounts in order, it’s time to transfer the money. To do this, you will need to contact your bank or savings branch and ask for an account officer. Explain to your account officer that you would like to make a transfer of money from your savings account to your checking account. Your account officer will need to know the following information:
- Your full name
- Your email address
- The amount you would like to transfer
- The source of the money (i.e. savings account number)
- The destination of the money (i.e. checking account number)
If you do not have access to an email account then you can use the phone number associated with your account to contact your bank. Ensure you have your statements and account information written down before you make the call. You may also want to speak to an account representative directly if you have any additional questions about the process. Once the information is verified then the transfer can take up to 24 hours to be reflected in your account. You may also need to wait a little while before you can use the money from your new bank accounts.
Enjoy Your New Income
If you are using an ATM card from a participating bank then you can spend the money that was just transferred into your account immediately. You do not need to wait for your bank to approve the transfer first. In case you decide to check your balance online by entering your PIN, then you will be able to see the exact amount in your account. You can also choose to withdraw the money in cash by taking it out of your ATM card and going to an outlet store to use it. If you decide that you want to keep some money in cash then you should consider purchasing a prepaid debit card from a participating bank. You can take this card anywhere that accepts debit cards and use it to buy what you want. When you are done shopping then you can either return the card to the nearest ATM or dispose of it. This type of card will let you enjoy the benefits of a debit card without needing a bank account to do so.
Keep Track Of Your Spending
One of the great things about having a checking account is that it lets you monitor your spending. You can set up regular payments into your account, meaning that your bank will automatically debit the amount you have set aside each month. You then have the option of either keeping the money in your account or transferring it to a different account as soon as the payment clears. This way, you can easily keep track of your spending and ensure you are not overspending. It’s a useful tool for those who want to be mindful of their finances.
If you decide that you need to keep some of the money in cash then you can use a prepaid card for the same purpose. These cards work just like a credit card but they are not tied to an account and can be used at any time. This lets you enjoy the flexibility of cash flow without needing to worry about your bank account storage limits. You can find out more about pre-paid cards at https://www.cardhelp.com/.
Avoid Extra Fees
Since you already have a checking account with your bank then there is no additional fee to use that account to make a transfer with WSECU. You will not incur any fees for using an ATM card from a different bank to make a withdrawal either. However, bear in mind that there is usually a fee associated with using an ATM card from a different bank. The fee will vary depending on the bank but it is usually around 2%. You should also check with your bank if there is any additional fees for using a certain card at a participating bank. In most cases, there is no charge to use a debit card from any bank but you should check with your bank regarding this issue.
If you want to keep your money in a safe and secure manner then you should look into ways of investing in stocks or purchasing gold via an online stock broker. There are many benefits to doing this, not least of which is the fact that you can enjoy the benefits of steady growth in your investments without needing to worry about the ups and downs of the stock market.