Online Banking: Instant transfer of funds to a friend's account?

[connect4]

Online banking and transferring of funds is one of the most convenient way to send money. Although are we allowed to add a friend's checking account as an "external account?"

Does anyone know a bank that would allow "instant transfer of funds" online? So I can transfer money to my friend's checking account instantly online?

Any banks you can recommend for this purpose?

[dmontngrey]

ING does it. DH and I use this option quite often. You just swap account info and transfer the money to the other person. The receiving person just has to verify their account info by going to the link in the email. Very easy to do! Transfers between ING accounts are instant.

[Caoineag]

I did this online with Wells Fargo. You both have to be Wells Fargo customers but its instant. It was very useful when I was helping a friend out.