Cross-Account Transfers

Generally electronic funds transfers between different account owners are not allowed. However, banks rarely verify the account owner of the target account. In some cases, banks take additional due diligence when the amount is over certain threshold (i.e. $100,000). But most of the time, cross-account ACH works without any problem.

Balance Transfer Results

I have experimented cross-account balance transfers between family members. The results are shown below. Highlighted account owner A, B, and C in different colors.

Source CC Target CC/Checking Amount Method
Bank of America Chase $1,000 Balance Transfer
Barclays Chase $1,500 Balance Transfer
Chase Citi $14,250 Balance Transfer
Chase Citi $15,000 Balance Transfer
Discover Bank of America $18,000 Direct Deposit
Chase Bank of America $11,400 Balance Transfer
U.S. Bank Bank of America $17,000 Balance Transfer
Alliant Credit Union Bank of America $16,000 Balance Transfer