How to Move Money from One Debit Card to The other?
Most debit cards are linked to a checking account or a bank account, which lets you move money from one account to another. This guide will walk you through the different ways to move money from one debit card to another.
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You can transfer money from one debit card to another in a number of ways, such as online, at an ATM, from a debit card to a prepaid card, at a bank, or at a retail store. To finish the transfer, you need to make sure that your card is linked to a real bank account.
How to move money from one debit card to the other
Debit cards are the easiest way to pay because you can link them to your bank account and the money will come right out of there. With a debit card, you can take money out of an ATM, which is the best way to get cash in an emergency.
You can use a debit card to buy a lot of things in stores and online. Not only that, but it also lets you make international transfers through reputable platforms and is widely accepted as a form of payment.
As a cherry on top, a debit card lets you transfer money quickly and easily from one card to another. If your payment card is linked to a bank account, the steps are easy and don’t take much time.
All you have to do to move money from one debit card to another is log in to your account and transfer the amount you want. Then, send the money to the person’s bank account, and it will show up on their debit card soon.
The debit card has a security PIN that only you should know so that no one else can use it without your permission. Enter the PIN whenever you use the debit card to make a purchase.
Money can be moved from one debit card to another online.
Since a while ago, online banking has been at its best. People used to have to wait in long lines and go through a lot of trouble to do their banking. Online banking became a time saver and got rid of all that trouble.
People can move money quickly from one debit card to other using mobile apps or web versions of banks with physical locations. It only takes a few clicks to get the money on the debit card of the person you’re sending it to.
There are two types of transfers, and the time it takes to finish a transfer depends on which type it is. Before you make a transfer, keep these things in mind:
Getting money from one account at the same bank to another
Let’s say you want to move money electronically from one debit card to another from the same financial institution. In that case, you’ll need to sign in to the mobile app and follow the on-screen instructions to finish the transfer.
Please note that transfers between accounts at the same bank are free, and the money is available right away in the recipient’s account.
Getting money from one bank account to another
On the other hand, if you need to move money between accounts at different banks, it works the same way as before: you have to log in to the mobile app or the web version to finish the transfer.
This lets you choose between two ways to transfer money: Instant Transfer and Standard Transfer. The Instant Transfer costs a fee based on the total amount, while the Standard Transfer is mostly free but takes longer.
Move money from your debit card to your prepaid card.
Prepaid cards are a great way to pay for things if you don’t want to carry a lot of cash around with you all the time. Also, you don’t need a bank account, which is not the case with a debit card.
Do you have bad credit and don’t know what kind of payment card you could use? Well, this is when you should use the Prepaid Card to its fullest since it doesn’t care about your credit score.
A prepaid card or a stored-value card can run out of money, and the only way to use it at different places is to add money to it. Here, you can also use a debit card, because it’s easy to move money from a debit card to a prepaid card.
There are two ways to do it: transfer money online or send money at an ATM.
1. Send or receive money online
Here’s what you need to do to send money over the Internet:
Account and routing a number of your recipient’s prepaid card > Sign in to your debit card account, go to the Money Transfer section, click Transfer, and then choose ACH or wire transfer.
2. Put money in an ATM
Here’s what you need to do to move money from a debit card to a prepaid card:
Put the debit card in the ATM. Debit card PIN > Yes > Fund Transfer > Who issued the prepaid card and the account number of the recipient > Choose the type of account > Type the number > Correct > Check the amount. Transfer the money.
Use an ATM to move money to a debit card.
Many banks and credit unions have their own ATMs where you can easily use your debit card to get cash. So, if you need money quickly or want to send money to a friend or family member, you can always use an ATM to do so.
If your debit card has run out of money and you need cash right away, you can fill it up at an ATM. If you’re moving money between two accounts at the same bank, just make sure you do it at an ATM on the same banking network as your card.
But if you want to transfer money to a debit card from a different bank, you can do so from the bank where you want to deposit the money—if the other bank lets you.
To do this, you must first make sure that the recipient bank’s ATMs will accept the deposits. If they don’t, you’ll have to find something else.
Bank Deposit
If the online or ATM transfer doesn’t work, you will have to do it by hand and go to your bank. Here, you’ll need to go to the bank with both debit cards and ask them to move money from one card to the other.
There are some bad things about this choice on its own, like the fact that you might have to pay a fee to the teller or the other bank.
There could also be limits on how much you can take out of the other account.
Fill up your card at a store.
You can also move money from one card to another by loading your card. How it works and what you need to think about before choosing this option are as follows:
- First, get cash from your debit card at an ATM or a place that cashes checks.
- Give this cash and the card you’re depositing to the person at the store.
- Bring your ID card with you just in case the store asks for it.
- Ask the clerk to put that amount of cash on the card you already have.
We hope that by now you don’t have to worry about how to move money from one debit card to another because we’ve shown you a few different ways to do it.
Even if you don’t have a debit card, you can still send money from your bank account. You need the account number of the person you want to send money to and a few other details.
How to Use a Debit Card to Get Money?
While we are talking about sending money with a debit card, let’s quickly go over how you can get money with a debit card. Here’s what you have to tell the sender:
- Name exactly as it says on the card.
- Account number; double-check it before giving it out.
- Last, there is the sort code.
Where can you use a debit card to send money abroad?
With digital money transfer services, you can send money overseas as quickly and cheaply as possible. Some of the best platforms for transferring money with a debit card are:
- World Bank
- Money Transfer from XE
- Smart Ways to Send Money
- Azimo
- Remitly
- Currencies Direct
- Payment
- OFX
- CurrencyFair
If you want to send money to a country other than your own, you can use any of the above financial services. But before choosing one of these platforms, it would be best to compare the exchange rates and transfer fees first.
Don’t Leave!
To pay with a debit card, you have to link it to a bank account or credit union. But many banks let you pay with a debit card through mobile banking. You just need to know some basic information about the recipient’s account. The only thing that might be different is how long it takes to send the money, which depends on which bank you send it to.
To get a debit card, you must first open a checking account. This requires information like your Social Security Number (SSN), a phone number, and email address, proof of identity, and your home address. Then, get one so you can easily move money from one account to another.
