I've got some money in one bank current account, that I want to
transfer to another bank current account. Can I write out a cheque to
do this? Who do I make the cheque payable to - do I write my own
name? Thanks a lot for any advice.
rpgs rock dvds writes
Probably only if the account you're paying out of is a cheque account.
If it is, you'll probably have a chequebook for it. If there's likely to
be a problem, is s there any reason why you can't pop into your bank (or
a local branch), and simply ask them to do it?
But you'll need to check what the terms and conditions are for the
accounts. For instance, you couldn't take money out of a bond account
(before it had matured), or immediately take it out of an account which
required (say) 30 days notice. Neither could you pay money into
something like a paid-up ISA.
If you really want to do the transfer by cheque, don't have a
chequebook, the bank will probably provide a suitable 'blank' cheque or
similar form. In principle, any written, suitably-worded instruction
should suffice (which, since stamp duty on cheques was abolished long
ago, is essentially all a cheque is). However, I wouldn't recommend
writing the cheque on some 'anecdotal' medium - such an egg or an
elephant. Theoretically, you could use any cheque, provided any
incorrect information is amended, and the amendments signed or
initialled (although this would undoubtedly raise an eyebrow!).
There is no reason why not. Who else would you make the cheque payable
Transferring money between bank accounts is fairly straightforward if
you use online banking.
In the old days before on-line banking I was told to just write a
letter to my bank asking them to transfer money between accounts -- no
cheque required. Eventually they explained that they could set up a
mechanism to automatically transfer money between current and a
savings account to keep the former at a certain level, which covered
most of my requirements.
If you're transferring money between different banks, then you do,
indeed, just write out a cheque to yourself .