Online banking issues

I was wondering if I can actually make regular deposits into a savings account using online banking...

For instance, I have online access through my Bank of America account, but I need to move some money into a savings account over at JP Morgan Chase. Does the process work just like making a transfer to a standard checking account??

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George Barrett35 said:ne

And that’s pretty much my two cents on the whole online banking situation...🙂

They really need to clear this up with JP Morgan Chase—it’s on their end to ensure everything is properly supported. A savings account has its own specific routing info, so theoretically, you should be able to make the deposit without an issue. Bank of America will probably process the transfer (in dollars, obviously), but the real question remains: what happens once those funds actually land at JP Morgan Chase?

My apologies, my last message vanished mid-send due to some glitch, and since I can't go back and fix it, I'll just say it here: you'll want to wire the funds directly to the bank account (specifically 2340009-1000000013), and just make sure to include your account number in the payment reference field.
You probably caught the fact that this specific account number has an extra digit compared to what you'd normally see, which is exactly why it isn't set up for direct deposits.

Andrew Booth29 said:They really need to clear this up with JP Morgan Chase—it’s on their end to ensure everything is properly supported. A savings account has its own specific routing info, so theoretically, you should be able to make the deposit without an issue. Bank of America will probably process the transfer (in dollars, obviously), but the real question remains: what happens once those funds actually land at JP Morgan Chase?

George Barrett35 said:My apologies, my last message vanished mid-send due to some glitch, and since I can't go back and fix it, I'll just say it here: you'll want to wire the funds directly to the bank account (specifically 2340009-1000000013), and just make sure to include your account number in the payment reference field.
You probably caught the fact that this specific account number has an extra digit compared to what you'd normally see, which is exactly why it isn't set up for direct deposits.

So, there might actually be a chance?!

I think I'll definitely walk over to the local JP Morgan Chase branch and explain my specific situation to them, since you usually only get a sensible answer if you lay it all out clearly in black and white...

Yeah, the number is a little different than usual, but honestly, a deposit is a deposit... You just enter the bank details and the account number, and then they handle the rest by crediting it to the right account, right?...

Look, it really comes down to the bank's internal policies regarding how they handle savings accounts... They should be the ones walking you through exactly what needs to be noted in the payment order—if that's even an option available to you. You can't just walk in and toss cash onto a fixed-term CD, for instance, because those usually involve signing a contract that spells out all the fine print and restrictions. That said, there are other types of savings models where you have more flexibility to deposit whatever amount you want, whenever you feel like it. My advice? Just get yourself down to a JP Morgan Chase branch and talk to them directly. 😁

Just a word of caution—they’re absolutely going to try and upsell you on a checking account or some other nonsense... You really have to be persistent and just dig your heels in. 😁
I’d bet anything their initial reaction will be: "Well, why don't you just open a checking account? We'll even throw in a debit card..." 😂

Andrew Booth29 said:Just a word of caution—they’re absolutely going to try and upsell you on a checking account or some other nonsense... You really have to be persistent and just dig your heels in. 😁
I’d bet anything their initial reaction will be: "Well, why don't you just open a checking account? We'll even throw in a debit card..." 😂

Oh, not at all. That's my own savings account anyway, so there isn't really anything for them to talk me into... 😬

Basically, I'm just transferring money to myself from another bank... 🙂

neonhound10 said:So, there might actually be a chance?!

I think I'll definitely walk over to the local JP Morgan Chase branch and explain my specific situation to them, since you usually only get a sensible answer if you lay it all out clearly in black and white...

Yeah, the number is a little different than usual, but honestly, a deposit is a deposit... You just enter the bank details and the account number, and then they handle the rest by crediting it to the right account, right?...

Well, you did get a sensible answer regarding how to actually make the payment, 😁

And the fact that you can't just punch in an account number and hit send isn't a failure of online banking, nor is it the fault of your bank or the receiving bank—it’s simply how the entire payment system works, based on HUB standards that facilitate transactions for verified checking and savings accounts rather than just some random string of digits.

That’s exactly why banks have those specific account numbers where you just drop in a reference code—it's all about the transaction ID. 😁
And honestly, those reference fields are surprisingly flexible regarding what they actually accept.
At the end of the day, it really just comes down to whether the parent bank—say, JP Morgan Chase or Bank of America—feels like being helpful or not. If there's enough goodwill on their end, everything clears just fine.

George Barrett35 said:My apologies, my last message vanished mid-send due to some glitch, and since I can't go back and fix it, I'll just say it here: you'll want to wire the funds directly to the bank account (specifically 2340009-1000000013), and just make sure to include your account number in the payment reference field.
You probably caught the fact that this specific account number has an extra digit compared to what you'd normally see, which is exactly why it isn't set up for direct deposits.

Found it, I was actually over at JP Morgan Chase yesterday.

You nailed it, the account number does end in 13.

The code uses 7 for the model, and for the payment reference, you use the account number but leave out those initial digits—in my case, it's the part starting with 8... it's basically just the remaining numbers without any dashes.

Now we'll just have to wait and see how it goes once I try making that first payment...

Oh, please. You’ve got 10 X’s and then another 6 more on top of that.
Even if you think keeping money in a savings account is outdated, it’s still 😁

Donna Davis8 said:Oh, please. You’ve got 10 X’s and then another 6 more on top of that.
Even if you think keeping money in a savings account is outdated, it’s still 😁

I mean, those numbers just don't seem to add up quite right.

But at the end of the day, a standard savings account is still probably the cheapest way to keep your 🙂
safe...

I have been contemplating a move to a different financial institution for quite some time now, though the specific motivations behind this decision are entirely inconsequential to the matter at hand.

Which bank offers the most superior online banking platform? Currently, I am using Chase, and while their system is somewhat functional, I have decided it is finally time to migrate my business elsewhere.

I was strongly considering switching over to JPMorgan Chase, but they still rely on those cumbersome physical security tokens. Honestly, who on earth wants to carry an extra bulky token around in their wallet? Unless, of course, I am mistaken and there is an option to choose between the token or a dedicated security card.

A card, at least, can be tucked neatly into a wallet, whereas carrying a specialized device feels like an unnecessary burden to lug around everywhere.

What kind of internet banking services are you all utilizing these days?

Personally, I stick to online banking through Hyp and Chase. If you ask me, Chase is the better experience. At work, we deal with RBC; it’s not quite the same interface as what we use personally, but it still beats Hyp, even if it doesn't quite hit the mark set by Chase. And don't even get me started on my experiences with ZABOM for corporate accounts—good grief. Whoever designed their system clearly has never actually heard the term "user-friendly" in their life.

As you can probably tell from my rambling, my vote goes to Chase.

And what exactly is wrong with the token?

Joseph Cox said:Personally, I stick to online banking through Hyp and Chase. If you ask me, Chase is the better experience. At work, we deal with RBC; it’s not quite the same interface as what we use personally, but it still beats Hyp, even if it doesn't quite hit the mark set by Chase. And don't even get me started on my experiences with ZABOM for corporate accounts—good grief. Whoever designed their system clearly has never actually heard the term "user-friendly" in their life.

As you can probably tell from my rambling, my vote goes to Chase.

And what exactly is wrong with the token?

The problem is that I cannot simply duplicate a physical token to slip one into my wallet, leave another at the office, and keep a third one safely at home.

Does Chase offer a digital token? That is my primary requirement. If they don't have a digital option, I'm out.

With JPMorgan Chase, you can just install their token app right on your phone, which means you don't have to lug around some extra hardware because everything you need is always right there in your pocket.

George Barrett35 said:With JPMorgan Chase, you can just install their token app right on your phone, which means you don't have to lug around some extra hardware because everything you need is always right there in your pocket.

But is there absolutely no way to just get one of those physical paper code sheets?

I am searching for a bank that offers decent online banking services—nothing too crazy with the monthly fees, and most importantly, I want to avoid using a hardware token entirely.
I simply cannot be expected to carry a physical token around with me everywhere I go.

I'm open to anything except Wells Fargo, because I am jumping ship from them immediately.

And let me be perfectly clear: this whole mobile app thing is completely out of the question for me.

not a single one
I honestly think Chase is about the only one still clinging to that old-school system, whereas everyone else has already moved on to those digital devices