Question

How is money transferred from one bank account to another bank account?Explain with an example

Answer 1

A wire transfer is the best way to transfer money to another account when time is of the essence. The main drawback is cost: You'll pay a fee, often around $40. To complete a wire transfer, you need to provide the sameinformation needed for bank-to-bankACH transfers (routing and accountnumbers).

Answer 2

to transfer money to one bank account to another bank account one third party involvement is needed .... that is called bank... It authorises the safe transaction....
Money is sent in the form of info which assure that the person has sent some money and the acceptor needs to be paid full amount ....
hope it helps.... keep asking