How to transfer money to another bank account

Nick Bendel
Nov 3, 2017( 1 min read )

Transferring money from one bank account to another is a commonplace and simple task. Once you’ve logged in to your online banking, do the following:

  • Click on ‘Payments’ (or something with a similar name)
  • Choose the account from which you’ll be making the transfer
  • Enter a payment description (the text that will appear on your account)
  • Enter a processing date (the date on which you want the money to leave your account)
  • Choose a payment frequency (either one-off or regular)
  • Enter the name of the person who will be receiving your payment
  • Enter the recipient’s BSB number (a bank-state-branch number is a six-digit number)
  • Enter the recipient’s account number
  • Enter a narration (the text that will appear on the recipient’s account)
  • Enter the payment amount
  • Click ‘Submit’ (or something with a similar name)

Related FAQs

A debt collector can garnish your bank account – but only under limited circumstances. First, the debt collector must take you to court. Second, the court must rule against you. Third, the debt collector must ask the court to garnish money from your bank account.

If that happens, debt collectors might be able to garnish wages that arrive in your bank account. However, they wouldn’t be able to garnish welfare or child support payments.


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