# Money transfer help please **URL:** \ **Category:** In My Humble Opinion\ **Created:** [June 1, 2019, 10:06pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894 "2019-06-01T22:06:34Z")\ **Posts on this page:** 11\ **Page:** 2
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [June 3, 2019, 4:18pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/21 "2019-06-03T16:18:38Z")
> [@Chimera](#): > > Ok, so the investment account only accepts $50k at a time. Are you that desperate for the money to be in that account that a couple of days to transfer it in four chunks is too time consuming? That would only work if the OP had four checks, each for $50,000, but he does not. He has one check for an amount in excess of the bank’s deposit limit for e-deposit. ---
**Author:** ![iamthewalrus\_3](https://avatars.discourse-cdn.com/v4/letter/i/258eb7/32.png) [@iamthewalrus\_3](https://boards.straightdope.com/u/iamthewalrus_3)\ **Post date:** [June 3, 2019, 7:08pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/22 "2019-06-03T19:08:39Z")
> [@Lucas\_Jackson](#): > > Numero two-o, snail mail the check to my online bank. The USPS will not insure the full 200g and if it gets lost that will probably cause major headaches. Mail is very rarely lost, and the USPS shouldn’t insure a check for that amount because of course you aren’t actually out that amount if it’s lost. You’re out some headaches. Maybe major ones, but any organization that can cut $200k checks can also figure out how to re-cut one. > [@](#): > > Third, I have a Wells Fargo account. I suppose I could deposit it with them and have them route it over but I hate them and don’t trust them to do it in a timely manner and not charge me an arm and a leg for it. Plus they can legally hold it for 7 days. I agree that this is generally the best plan. If you don’t like WF as a brick and mortar bank, You could go find another local bank you like and open an account? I bet they’d be happy to have your $200k deposit (maybe don’t tell them you’ll be transferring it out immediately). ---
**Author:** ![Riemann](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/riemann/32/3133_2.png) [@Riemann](https://boards.straightdope.com/u/Riemann)\ **Post date:** [June 3, 2019, 7:36pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/23 "2019-06-03T19:36:23Z")
> [@Lucas\_Jackson](#): > > I would think as the issuing bank they would be required to honor it. I’d guess that most checks draws against banks are made out to non-customers. I don’t think you can assume that they are obliged to honor it in any way that a non-customer demands, such as initiating a wire transfer on the instructions of someone they don’t know. Given concerns about money-laundering etc., I wouldn’t even be surprised if they are not _allowed_ to execute a wire transfer for a non-customer who has not been through the identification process when you open an account. But I just don’t know, it’s worth asking. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [June 3, 2019, 9:21pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/24 "2019-06-03T21:21:30Z")
> [@iamthewalrus\_3](#): > > If you don’t like WF as a brick and mortar bank, You could go find another local bank you like and open an account? I bet they’d be happy to have your $200k deposit (maybe don’t tell them you’ll be transferring it out immediately). My guess is that if you walk into a bank as a brand-new customer and the first thing you want to do is deposit a check for $200,000 (and _then_ move the money somewhere else), they’re going to be a little suspicious. Certainly the funds will be on hold for a while. ---
**Author:** ![Joey\_P](https://avatars.discourse-cdn.com/v4/letter/j/919ad9/32.png) [@Joey\_P](https://boards.straightdope.com/u/Joey_P)\ **Post date:** [June 3, 2019, 9:24pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/25 "2019-06-03T21:24:19Z")
> [@Riemann](#): > > I don’t think you can assume that they are obliged to honor it in any way that a non-customer demands, such as initiating a wire transfer on the instructions of someone they don’t know. Given concerns about money-laundering etc., I wouldn’t even be surprised if they are not _allowed_ to execute a wire transfer for a non-customer who has not been through the identification process when you open an account. But I just don’t know, it’s worth asking. I think the money laundering angle is part of the reason they typically don’t cash checks unless you have an account. You may not see it while you’re standing at the desk, but the check is likely deposited into your account and then the funds are withdrawn as cash. Similarly, if you go to a bank with cash and ask for a cashier’s check, they’ll deposit it, then take that money for the cashier’s check. Doing this creates a trail. They know who handed them cash or who they handed cash to. Of course, I’m sure they don’t mind that it means people will do banking at their own bank or if this bank is so much more convenient for them, they’ll open an account. ---
**Author:** ![Lucas\_Jackson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lucas_jackson/32/303_2.png) [@Lucas\_Jackson](https://boards.straightdope.com/u/Lucas_Jackson)\ **Post date:** [June 4, 2019, 1:47pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/26 "2019-06-04T13:47:17Z")
Update: I called my online bank (twice!), they would not budge on waiving the 50k deposit limit. Next, I went into WF. If I deposited it there they have a $15,000 limit on a one time transfer, $1000 a day after that and $25,000 limit per month. In the end I shipped it UPS, it was cheaper than FedEx. . ---
**Author:** ![Riemann](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/riemann/32/3133_2.png) [@Riemann](https://boards.straightdope.com/u/Riemann)\ **Post date:** [June 4, 2019, 2:42pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/27 "2019-06-04T14:42:57Z")
> [@Lucas\_Jackson](#): > > Update: I called my online bank (twice!), they would not budge on waiving the 50k deposit limit. Next, I went into WF. If I deposited it there they have a $15,000 limit on a one time transfer, $1000 a day after that and $25,000 limit per month. > > In the end I shipped it UPS, it was cheaper than FedEx. That’s the limit for free transfers. There is no limit for a wire transfer, which costs $30. ---
**Author:** ![DPRK](https://avatars.discourse-cdn.com/v4/letter/d/4491bb/32.png) [@DPRK](https://boards.straightdope.com/u/DPRK)\ **Post date:** [June 4, 2019, 2:57pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/28 "2019-06-04T14:57:04Z")
> [@Joey\_P](#): > > I think the money laundering angle is part of the reason they typically don’t cash checks unless you have an account. You may not see it while you’re standing at the desk, but the check is likely deposited into your account and then the funds are withdrawn as cash. > Similarly, if you go to a bank with cash and ask for a cashier’s check, they’ll deposit it, then take that money for the cashier’s check. > Doing this creates a trail. They know who handed them cash or who they handed cash to. > > Of course, I’m sure they don’t mind that it means people will do banking at their own bank or if this bank is so much more convenient for them, they’ll open an account. I doubt anyone can get $200000 in cash without an appointment, regular customer/account holder or not. As for wire transfers, no problem, but you will need an account number at the bank to transfer into or out of. ---
**Author:** ![Lucas\_Jackson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lucas_jackson/32/303_2.png) [@Lucas\_Jackson](https://boards.straightdope.com/u/Lucas_Jackson)\ **Post date:** [June 4, 2019, 3:21pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/29 "2019-06-04T15:21:50Z")
> [@Riemann](#): > > That’s the limit for free transfers. > There is no limit for a wire transfer, which costs $30. That and the associated BS I have to put up with. They are not helpful or friendly. They make everything as difficult as possible. That’s why I transferred almost all my funds to Ally, which I can’t say enough good about. I only keep WF so I have a bank I can walk into, B&M. ---
**Author:** ![Dag\_Otto](https://avatars.discourse-cdn.com/v4/letter/d/439d5e/32.png) [@Dag\_Otto](https://boards.straightdope.com/u/Dag_Otto)\ **Post date:** [June 4, 2019, 5:48pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/30 "2019-06-04T17:48:25Z")
> [@Lucas\_Jackson](#): > > Great idea. I’ll call them Monday and give it a try. Thanks. You should switch your online bank to Ally, they are available 24/7. > [@Lucas\_Jackson](#): > > That and the associated BS I have to put up with. They are not helpful or friendly. They make everything as difficult as possible. That’s why I transferred almost all my funds to Ally, which I can’t say enough good about. I only keep WF so I have a bank I can walk into, B&M. Oh, you do use Ally. Did you forget that they are available 24/7? ---
**Author:** ![Lucas\_Jackson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lucas_jackson/32/303_2.png) [@Lucas\_Jackson](https://boards.straightdope.com/u/Lucas_Jackson)\ **Post date:** [June 4, 2019, 7:10pm UTC](https://boards.straightdope.com/t/money-transfer-help-please/834894/31 "2019-06-04T19:10:50Z")
Yes. I’ve only been an Ally customer for s few months. [Previous page](https://boards.straightdope.com/t/money-transfer-help-please/834894.md?page=1)