If you want to add a financial institution that offers free ACH transfers to personal account holders or want to correct information on this list, please post in this thread. Thanks! Markber The FIs are sorted based on "customer-friendliness" of their ACH transfers.

Banks
• USAA - free online incoming and outgoing, convenient interface, long approval
• E*TRADE - free online incoming and outgoing, convenient interface, , fast approval
• Farm Bureau Bank - free online incoming and outgoing transfers, convenient interface, fast approval
• ING Direct - free online incoming and outgoing, savings accounts only, ING Direct resource page
• Virtual Bank - free online incoming and outgoing, eMoney Market accounts only?, then internal transfers to checking, Virtual Bank resource page
• Union Bank of California - free unlimited incoming and outgoing
• First Internet Bank of Indiana - free online incoming, $5 per online outgoing, convenient interface, First IB resource page
• Ascencia bank - free online incoming and outgoing , convenient interface
• PCBanker - free online incoming, no outgoing, convenient interface, PCBanker resource page
• Nexity Bank - free online incoming, no outgoing, inconvenient interface
• Netbank - free online incoming from banks on Netbank/Teknowledge aggregation list, $5000 per transfer limit
• TheBancorp - free incoming by fax or mail, no outgoing?
• TDWaterhouse - free online incoming transfers to TDWaterhouse brokerage and, then, to TDWaterhouse bank account, no outgoing?

Unknown terms
• GMAC Bank - online
• Lehman Bank - online
• Schwab bank - online outgoing transfers only
• Thrivent Financial Bank - online incoming and outgoing
• Ohio Savings Bank - (Provider: Cashedge)
• New Millennium Bank
• Western Financial Bank - incoming only?
• Bank of America - not in all states

Credit unions
• Meadows Credit Union - free online incoming, one free online outgoing per category per month, then pay a fee (see Meadows CU fee schedule for more info)
• Digital Credit Union - free online incoming, $2 per online outgoing, Cashedge interface

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Definitions:
• ACH (Automated clearing house) The networks used as a means to transfer money electronically between accounts at different institutions, usually in one day (from MetLife Bank glossary)
• Convenient ACH interface is an online interface that allows customers to do ACH transfers online without entering ABA and account numbers for external bank every time a transfer is initiated.

yahoo is disabling its funds transfer service as of 02/01/2005.

Thanks. I have deleted it from the list.

Mark

citibank is free for incoming

From Ascencia bank website:



For the other institutions that have free in-coming and outgoing, are there any minimums?

Capital One High Yield Savings - free incoming and outgoing transfers (push & pull) & can set up repeating transfers
paypal personal account - free incoming and outgoing transfers (push & pull) - only disabling billpay on 8/1/05 but not transfers as I read it - no repeating transfers setup
IndyMac Bank - free pull ($2k max per day), fee to push - new capability - but limit is way too low to be useful for anything

these banks will verify the linked accounts by doing deposits - once verified the ABA routing and account # need not be entered each time

Bank of America MyAccess checking account (0%) w/ excelent billpay has free pull and push with a fee


Per Transaction Fee

Bank of America may charge you a fee for the transactions you asked to be processed with accounts you own outside the bank. The fee may or may not apply based on the Delivery Type of the transaction, your relationship with the bank, and your past experience transferring funds to accounts outside the bank.

Transfer Type
3 Business Day Next Business Day
Service Service
Inbound Transfers $0.00 $0.00
Outbound Transfers $3.00 $10.00

Transaction Limits

You will have limits on your transactions based on your experience with transferring to and from accounts you own at other financial institutions. There are limits for both daily and monthly transfers, along with the Delivery Type you choose for the transfer.

Your personal limits are:
Daily: $20,000.00
Monthly: $25,800.00

Transfer Type

3 Business Day
Servic(1)

Next Business Day
Service (2)

Inbound Transfers
Monthly *
$20,000.00 (1)
$5,000.00 (2)
Daily
$10,000.00 (1)
$2,000.00 (2)
Remaining Daily
$10,000.00 (1)
$2,000.00 (2)

Outbound Transfers
Monthly *
$20,000.00 (1)
5,000.00 (2)
Daily
$10,000.00 (1)
$2,000.00 (2)
Remaining Daily
$10,000.00 (1)
$2,000.00 (2)
Footnote
* Monthly (rolling 30 day period)
Footnote

Has Ascenscia bank's interface improved any since the original post?

thanks

There was a typo in OP. ACH interface of Ascencia Bank is actually good. You can look at it at http://www.ascencia.com/ICE-Demo/Transfers/ACHTransfers.asp

I have corrected the original post.

do you have wilmington trust (wilmingtontrust.com) on here? they have free ACH.

HSBC free push/pull
CapOne free push/pull
Western Financial Bank - no push/pull

In Credit Unions:

Pentagon Federal Credit Union, www.penfed.org, offers free incoming, but not a convenient interface. Limit $2000/day. You can process a transfer over the phone at any time, or online after 6 months have passed.

PNC Bank offers free ACH (usually 2 business days)
Everbank also offers free ACH but it takes much longer - 4 business days.
Also EmigrantDirect ACH I believe is free (at least the few transfers I made push and pull were free.
And even more I initiated few transfers between EmigrantDirect and my Local PNC Bank and there were no days "lost in space". Same day the funds dissapeared from PNC Bank they appeared at ED.

mwabank has free outgoing ACH.

state farm bank is free incoming and outgoing ACH, but you can't do it online, you gotta call them.

Countrywide savinglink account is ACH and free in and out.
Great rate too 5.25%