Simply put, a bank transfer is a digital medium of transferring money out of one bank account to another. In the course of this article, we would be going through a practical guide on how to transfer money from BBVA compass bank to another bank.
It is important for a BBVA compass customer to note that the procedure for transferring money from your BBVA bank to another has no fuss to it. It would not be wrong to assert that BBVA compass bank is a bank that has a lot of transparency and accessibility. Without further mouthing, let us delve into our article on how to send money with bbva compass bank account.
8 Steps to Send Money from your BBVA Compass Account to other Banks
In other to be able to perform this transfer, you need to have your BBVA Compass mobile bank app.
- Choose the Payments and Transfers tab.
- To complete the next step; Click on the BBVA button located in the From field. This will open you with the Choose Account section.
- Click your mouse on the downward arrow in the Select Account field, and then click. The customer would need o choose any of the account listed in the field as this is the account to where you’re making the transfer.
- To complete the step; that was elucidated above, move your cursor over the BBVA button and then click to select. Click the down arrow within the Select Account field. Select which account that you want to transfer funds which you want to transfer funds. Select the Next button and click it/
- You’ll enter the amount you wish to transfer. Make sure you click your mouse inside the Amount field and then enter the amount of money you’d prefer to move. Use the down arrow that is in the frequency field, then select the amount of time you’d like to transfer this amount.
- Go ahead to choose the Calendar Tool icon to show the dates on which you can transfer funds. Move over the dates you’ve selected and click the date. Once you’re done, click next. next button.
- When you are in step the BBVA customer would be to examine the details of the transfer by reviewing the screen. If the details are correct, go ahead to use the Submit button to complete your request for transfer. If you have to make adjustments, click the Previous button to make changes to the request.
- At the end of Step this step, the confirmation page will show that your transfer request was received and will contain an identification number to keep for your records. If you want to print the confirmation you need to click the Print Confirmation button. If you’d want to download and save the confirmation, click on the download PDF confirmation button. After that you can hit “OK”.
Why a BBVA customer should be beware of Regulation D when Transferring from a Savings account
Your savings account is controlled by a law of the federal government known as Regulation D. The federal government has loosened up the Regulation D limits on the amount of withdrawals permitted from the savings account every month. This implies that some credit unions and banks can continue to enforce the maximum of six withdrawals per month.
Be sure to check the rules of your bank before you make an account transfer. Transfers are one of the types of withdrawals which are restricted. in this case, it is important to note that the BBVA compass bank enforces the Regulation D on their customers that use a savings account.
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