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- You can transfer money electronically through apps such as Venmo, PayPal, and Zelle.
- Money orders are useful for amounts under $1,000, while cashier's checks are ideal for larger amounts.
- A wire transfer is an option for sending money to someone who lives far away.
There are plenty of times you'll need to give money to someone, but for one reason or another, you can't just hand them cash. In this case, you can deposit money into their bank account.
The best checking accounts have several ways to deposit money into someone else's bank account. The most optimal way of transferring money to someone else's account will depend on which institutions you each bank with, how much money you're sending, and how much you're willing to pay in fees.
Direct bank deposit
The most basic way to move money into someone else's account is to walk into the bank and tell the teller you'd like to deposit cash. You'll need the recipient's full name and bank account number to complete the deposit.
However, some banks have restricted cash deposits into someone else's account. Handling cash can lead to fraud, so banks are steering clear. Before venturing into a bank branch to put cash in another customer's account, double check that the bank will allow you to do so.
Digital payment platforms
There are multiple websites and apps that allow you to transfer money for free to a friend or family member. PayPal, Venmo, Zelle and Cash App are a few popular examples.
One disadvantage to this method is that both people need to have an account with certain services, including PayPal and Venmo, and have a linked bank account.
Personal check
You may choose to write a check and give it to the person. Or you can walk into a bank and ask the teller to deposit the check into the person's account, as long as you have their full name and account number.
Although fewer and fewer banks accept cash deposits into another person's account, many still accept check deposits.
Bank-issued money order
Although you will have to pay a couple of dollars for a money order, it's a worthwhile alternative if you don't already have a paper checkbook.
When you buy a money order, you'll pay a small fee plus the amount you want to deposit. You'll get a receipt, so if the deposit never goes through for some reason, you have proof of the money order.
The downside is that there's usually a limit on how much you can send with a money order. You probably won't be able to send more than $1,000.
Cashier's check
A cashier's check is similar to a money order, but there's no limit on how much you can send. Unfortunately, cashier's checks cost a little more than money orders, usually around $10.
Whereas you can get a money order at a bank, the post office, or a convenience store, cashier's checks are only available at banks.
Wire transfer
A wire transfer is a tool for moving money electronically from one banking institution to another. It can be especially useful if you don't have access to the recipient's bank branch. For instance, maybe you bank with a national bank but your friend banks with a local institution across the country.
You can wire money within the U.S. or internationally, and international transfers are more expensive. You can expect wire transfer fees to cost between $10 to $50.
Wire transfers are often for large sums of money, like a down payment on a house. Before attempting to send a wire transfer, make sure your account and the recipient's account are both set up for wire transfers. You'll need the recipient's bank account number and routing number.
Prepaid debit card
Prepaid debit cards can be purchased with cash or an electronic payment and gifted to your recipient. Though the funds won't be accessible via their bank account, the card works like a standard debit card for purchases in stores and online, and they may even be able to load more money onto the card.
The best option for depositing money into someone else's bank account may depend on where you both bank and how much you're sending. When in doubt, ask the other person which would be the most convenient way for them to access the money.
Depositing money FAQs
While some banks allow this, it's becoming less common. You will need to provide the recipient's account number and name.
Zelle, Cash App, PayPal, and Venmo are a few apps you can use to send money for free to your family and friends' bank accounts.
P2P services use security measures, including encryption and two-factor authentication to protect senders, but you should always ensure the identity of someone you are sending money to via a payment app.
A cashier's check is purchased with cash or an electronic payment upfront, guaranteeing the check will not bounce when it is deposited in the recipient's bank account. But you may have to pay a fee to get a cashier's check.
It depends on the policies of the recipient's bank, including whether it allows non-customers to deposit cash.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
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