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Wednesday, October 21, 2009

Sending money from European bank account to a friend's account in the US. What info do I need to give to bank?

I need to wire transfer money from my european bank accoutn to a friend in the US.





Which info does he need to give me which I then pass on to my bank to do the wire transfer?
Sending money from European bank account to a friend's account in the US. What info do I need to give to bank?
You'll need the bank routing number (it's a 9 digit number, the first 9 digits across the bottom of his/her check) and his account number.
Reply:What you want is an ACH transfer, not a wire transfer: wire transfers are costly, but an Automated Clearing House transfer is free, or nearly so. You will need the recipient's bank ABA number, which is a 9-digit number at the bottom left of a check on his account, and his account number, which can be any number of digits. Check with your European bank for details.
Reply:I agree that the ACH transfer is the way to go (easier and much cheaper). Your bank will need your friends name and address, bank account number and routing number and also the US bank's electronic transaction ID (also known as an ACH number). The easiest way will be to have your friend send you (by fax, e-mail or regular mail) a void check from his/her bank or a deposit slip from his check book. Either will have all necessary info on it.

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