I know there is an option to choose to change your bank setup between accounts to transfer Items, Tc, or both I know how to withdraw and deposit TC between accounts but what about items? how do you transfer items between the two? my friend has some items of mine that I would like back but he has since gone offline.

You should really check with your friend before you transfer items back to your account.

To transfer items from a shared bank, you have to go into the deactivated inventory of the account and click the checkbox beside the item, then click the drop down list and click "send to user" enter the desired name and click "Submit."