The fastest way depends on which banks you use

Moving money from one checking account to another usually takes between one and three business days, but the speed and ease depend on whether both accounts are at the same bank or different banks. If both accounts are at the same institution, you can often move money the same day through their website or app. If the accounts are at different banks, you'll need to use one of three methods: a wire transfer (fastest but costs money), an ACH transfer (free but slower), or a debit card withdrawal followed by a deposit at the other bank (slowest but simplest).

The method you choose also depends on how much money you're moving and how urgently you need it there. For small amounts that aren't time-sensitive, a free ACH transfer works fine. For larger amounts or when you need the money quickly, a wire transfer is worth the fee. For very small amounts or if you're uncomfortable with online transfers, walking into a branch and withdrawing cash to deposit elsewhere is always an option.

Key Takeaways

  • Transfers between accounts at the same bank usually complete the same day through the bank's website or mobile app.
  • ACH transfers between different banks are free but take three to five business days and work best for amounts under $25,000.
  • Wire transfers between different banks cost $15 to $30 but arrive within one business day and work for any amount.
  • You can always withdraw cash at one bank and deposit it at another, though this is slowest and carries the risk of loss or theft.
  • You'll need the receiving account number and routing number (or the receiving bank's name and address for a wire) before you start.

Transferring between accounts at the same bank

If both checking accounts are at the same bank, log into your online banking portal or mobile app and look for a "Transfer" or "Move Money" option. Most banks place this in the main menu or under an account settings section. You'll select the account you're transferring from, the account you're transferring to, and the amount. The transfer usually processes when ready or within a few hours, and the money appears in both accounts the same business day.

Some banks also let you set up recurring transfers if you move money regularly—for example, moving a fixed amount to a savings account each payday. This is done through the same transfer menu, and you can usually pause or cancel it anytime. If you're not comfortable using the app or website, you can call the bank's customer service line and ask them to process the transfer over the phone, though this may take longer.

ACH transfers for different banks (free but slower)

ACH stands for Automated Clearing House, which is the system banks use to move money between different institutions. An ACH transfer is free and works for any amount, but it takes three to five business days because the banks have to confirm the details and process the transfer through a central clearing system. You initiate an ACH transfer through your current bank's website or app by selecting "Transfer to Another Bank" or "External Transfer," then entering the receiving account number and the receiving bank's routing number.

The routing number is a nine-digit code that identifies the receiving bank. You can find it on a check from that account (it's the first set of numbers on the bottom left), on the bank's website, or by calling the bank directly. Once you submit the transfer, you'll see it pending in your account, and the receiving account will show it as incoming. After three to five business days, the money settles and becomes available to spend. If you enter the wrong account number or routing number, the transfer may bounce back to your original account, which can take another few days.

Wire transfers for speed (costs money but arrives quickly)

A wire transfer moves money between banks much faster than an ACH transfer—usually within one business day—but banks charge a fee, typically $15 to $30 depending on the institution. Wire transfers are best when you need the money urgently or when you're moving a large amount. You can initiate a wire transfer through your bank's website, app, or by calling customer service or visiting a branch in person.

To send a wire, you'll need the receiving bank's name, address, and routing number, plus the receiving account number. Some banks also ask for the account holder's name. Double-check all these details before you confirm, because wire transfers are difficult to reverse once they're sent. If you make a mistake, you may not be able to recover the money. Many banks also have daily or monthly limits on wire transfers—commonly $10,000 to $25,000 per day—so check with your bank if you're moving a large amount.

Cash withdrawal and deposit (simplest but slowest)

If you're moving a small amount and you're not comfortable with online transfers, you can withdraw cash from your current bank and deposit it at the other bank. Go to an ATM or a branch of your current bank, withdraw the amount you need, then go to a branch or ATM of the receiving bank and deposit it. The money is usually available to spend when ready at the receiving bank, though it may take one business day to fully clear.

The main drawback of this method is the risk of losing or misplacing the cash while you're carrying it. It also works best for smaller amounts—withdrawing and depositing several thousand dollars in cash can draw extra scrutiny from the bank. If you're moving money regularly, this method becomes tedious. But for a one-time transfer of a few hundred dollars, it's straightforward and requires no account numbers or routing numbers.

What information you need before you start

Before you initiate any transfer, gather the information the receiving bank will need. For an ACH transfer or a transfer within the same bank, you need the receiving account number and the receiving bank's routing number. For a wire transfer, you need the receiving bank's name and address, the routing number, and the receiving account number. You can find the routing number on a check from the receiving account, on the bank's website, or by calling the bank.

Write down this information carefully and double-check it before you submit the transfer. A single wrong digit in the account number or routing number can send your money to the wrong place. If you're transferring to someone else's account, ask them to provide the account number and routing number directly rather than relying on a screenshot or email, which can be altered. Once you have the correct information, the transfer itself takes only a few minutes to set up.

What to do if a transfer goes wrong

If you entered the wrong account number or routing number, the transfer may bounce back to your account after a few days. You'll see it return as a failed or reversed transaction, and the money will be back in your original account. If this happens, check the error message the bank provides, correct the information, and try again.

If you sent a wire transfer to the wrong place, contact your bank when ready. Wire transfers are harder to reverse than ACH transfers, and the bank may not be able to recover the money. The bank can try to contact the receiving bank and ask them to return the funds, but this is not may provide. For this reason, it's worth taking extra time to verify the account number and routing number before you send a wire, especially for large amounts.

Frequently Asked Questions

Can I transfer money on a weekend or holiday?

You can initiate a transfer anytime through your bank's website or app, but it won't process until the next business day. Banks don't process transfers on weekends or federal holidays, so a transfer you start on Friday evening won't begin moving until Monday morning. This means it will take longer to arrive than a transfer started on a weekday.

Is there a limit to how much I can transfer at once?

ACH transfers have no federal limit, but individual banks often cap them at $25,000 per transaction or per day. Wire transfers also have bank-specific limits, commonly $10,000 to $25,000 per day. Check with your bank about their limits before you transfer a large amount, or call customer service to request a temporary increase.

What if the receiving account is in someone else's name?

You can transfer money to an account in someone else's name as long as you have the correct account number and routing number. The receiving bank doesn't verify that the account holder's name matches the person sending the money. However, if you're sending a large amount, your bank may ask why you're transferring money to another person's account.

Do I need to tell the receiving bank I'm sending money?

No, you don't need to notify the receiving bank in advance. The transfer will arrive in the account automatically once it clears. However, if you're transferring to someone else's account and they're not expecting it, it's a good idea to let them know so they don't think it's a mistake or fraud.

What's the difference between a transfer and a payment?

A transfer moves money between accounts you own or accounts you have permission to send money to. A payment is usually a bill payment, where you authorize money to go to a company or person to pay a debt. The process is similar, but payments are typically one-time and transfers can be recurring.