Quote:
Originally Posted by happygirl
Suppose I find a bank online with a CD rate I like. How do I physically get my money from the savings account it's currently sitting in to the online bank? Do I take it out as a cashier's check, then mail it in to the online bank's address? The money is currently in a rather local, small bank.
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It's even simpler than that -- If you provide the online bank with the name, routing number, and account number for your savings account, they should be able to draft it electronically. If for some reason that is not an option (a rare situation anymore), the method you stated will also work. The online bank would provide you a mailing address for you to send it to.