On Thu, Sep 4, 2008 at 1:30 PM, Alok G. Singh <[EMAIL PROTECTED]> wrote: > I need to be able to transfer money from my account to a number of > accounts (which change from time to time) automatically. While there are > several products to collect money from various bank accounts, there seem > to be none that do the reverse, i.e. disburse money to various accounts.
It is possible to set up such periodic transfers of funds out of my bank - a fairly small credit union in california. My bank's online bill payment management system allows me to set up various types of transfers: 1. Transfer of a specified amount on a certain date every month. I use this to pay my rent. In my case, because I do not know my landlord's bank details, my bank mails a cashier's check to him. 2. Payment of bills from credit card companies and service providers. My bank's bill pay system checks my credit card account, etc. to see when a bill is due. When a new bill is posted, I have the option of either automatically paying it off or being notified about the bill being posted (at which point I manually instruct for the payment to happen). 3. For service providers which my bank cannot talk to electronically, I can store their information and quickly make a payment on-demand. S. -- "I saw this in a movie about a bus that had to SPEED around a city, keeping its SPEED over fifty, and if its SPEED dropped, it would explode. I think it was called, 'The Bus That Couldn't Slow Down'." -- Homer J. Simpson
