What is the fastest way to transfer money from one US bank account to another?
July 6, 2009 6:43 AM Subscribe
I need to transfer a large some of money from a relative's bank account to my account at a different bank as fast as possible - how?
A relative is giving me a large sum of money for mortgage purposes, and for various reasons I need it in my bank account as fast as possible (same day, ideally).
He banks at a large regional bank and I bank at a large national bank. From what I can tell, my options are wire transfer or withdrawing cash from his bank and depositing at my bank.
My understanding is that wire transfers are fast, but how long will it actually take to hit my account? Cash transfer would obviously be instant once I make the deposit, but I'm not keen to carry this much money on me, even just between banks.