Yes, you can transfer money between banks, and it usually takes one to three business days
Moving money from one bank to another is a standard banking task. Your bank can send funds to another bank account in your name, or to someone else's account. The transfer happens through a system called the Automated Clearing House (ACH), which is how most routine transfers work in the United States. ACH transfers are free or very low-cost, but they take time — usually one to three business days for the money to arrive.
If you need the money faster, some banks offer a wire transfer, which can move money the same day or next business day. Wire transfers cost money (typically $15 to $30) and are harder to reverse if you make a mistake, so they are best for larger amounts or urgent situations.
The simplest path is to use your bank's online transfer tool. Log in, select "transfer funds," choose the receiving bank and account, enter the amount, and confirm. Your bank handles the rest. If you do not have online access or prefer to do it in person, you can visit a branch and ask a teller to set up the transfer.
Key Takeaways
- ACH transfers (the standard method) are free or nearly free and take one to three business days to complete.
- Wire transfers move money faster — often same-day or next-day — but cost $15 to $30 and cannot easily be reversed.
- You will need the receiving bank's routing number and the account number where you want the money to go.
- Most banks let you set up transfers online, by phone, or in person at a branch.
- Transfers between accounts you own at different banks work the same way as transfers to other people's accounts.
What information you need before you start
Before you transfer money, gather the details of the account you are sending it to. You will need the routing number (a nine-digit code that identifies the bank) and the account number (the specific account at that bank). If you are transferring to your own account at another bank, you have these numbers. If you are sending money to someone else, ask them for both numbers — they can find them on a check, in their online banking, or by calling their bank.
You will also need to know how much you want to transfer and when you want it to go. Some banks let you schedule a transfer for a future date, which is useful if you want the money to arrive on a specific day.
Double-check the account number before you confirm the transfer. A mistake here means the money goes to the wrong account, and getting it back can take weeks. Most banks will ask you to confirm the account holder's name as an extra safety step.
ACH transfers: the free, slower option
An ACH transfer is the default choice for moving money between banks. It is free or costs just a few dollars, and it works reliably. The trade-off is speed: the money usually arrives in one to three business days. Weekends and bank holidays do not count as business days, so a transfer you start on Friday may not arrive until Tuesday.
ACH transfers work through a central clearing system that batches transfers together and processes them in cycles. Your bank sends your transfer to the clearing house, which sorts it and sends it to the receiving bank, which then deposits it into the account. Each step takes time, which is why it is not when ready.
Most banks do not charge you to send an ACH transfer, though some banks charge a small fee (usually $1 to $3) if you exceed a certain number of transfers per month. Receiving banks almost never charge a fee. If you are moving money between accounts you own at different banks, ACH is almost always the right choice — it is cheap and reliable, and the three-day wait is usually not a problem.
Wire transfers: the fast, expensive option
A wire transfer moves money much faster than ACH, often arriving the same day or the next business day. Wire transfers are processed individually and with higher priority, which is why they are quicker. The cost is higher: expect to pay $15 to $30 per transfer, depending on your bank and whether the receiving bank is domestic or international.
Wire transfers are also harder to reverse. Once the money leaves your bank, it is in the receiving bank's system, and getting it back requires the receiving bank's cooperation. If you send money to the wrong account by mistake, you may not be able to recover it. For this reason, wire transfers are best for situations where you are certain of the account details and the speed matters — paying a large bill on a important date, for example, or sending money to someone you trust.
To send a wire transfer, contact your bank by phone or in person. Online banking usually does not offer wire transfers because banks want to confirm your identity before moving money this way. Have the routing number, account number, and the receiving bank's name ready when you call.
Setting up a transfer through your bank's website or app
Most banks let you transfer money online in just a few steps. Log into your online banking or mobile app, look for a button or menu item labeled "Transfer Funds," "Send Money," or "Move Money." Select the account you want to transfer from (if you have multiple accounts at that bank).
Next, you will choose where the money is going. If this is your first transfer to that bank, you will need to add the receiving account. Enter the receiving bank's name, the routing number, and the account number. Some banks ask you to verify the account holder's name as well — this is a safety feature that catches mistakes.
Enter the amount you want to transfer and choose the date. If you want the money to go when ready, select "today" or "as soon as possible." If you want it to arrive on a specific date, select that date instead. Review the details one more time, then confirm. Your bank will show you a confirmation number — save this in case you need to ask about the transfer later.
What to do if the transfer is taking longer than expected
ACH transfers usually arrive within three business days. If more than three business days have passed and the money has not shown up, contact your bank. Have your confirmation number ready. The bank can check the status of the transfer and tell you whether it is still in progress or if something went wrong.
Sometimes a transfer gets stuck because of a mismatch between the account number and the account holder's name, or because the receiving bank flagged it for review. Your bank can contact the receiving bank to find out what happened and fix the problem. This usually takes a few more days.
If you sent a wire transfer and it has not arrived within one business day, call your bank when ready. Wire transfers move faster, so a delay usually means something went wrong. Your bank can trace the transfer and work with the receiving bank to locate the money.
Transferring money to accounts you own at other banks
If you have accounts at multiple banks and want to move money between them, the process is the same as transferring to anyone else's account. You will need the routing number and account number of the receiving bank, even though you own both accounts. Some banks offer a shortcut: if you have already set up the receiving account once, you can select it from a saved list on future transfers.
Transfers between your own accounts are not treated differently by the banking system — they go through the same ACH or wire process as any other transfer. The advantage is that you know the account details are correct, so there is no risk of sending money to the wrong place.
If you want to move all your money from one bank to another, you can do multiple transfers, or you can ask your new bank whether they offer a service to move your accounts for you. Some banks have programs that help you switch, though these are less common than they used to be.
Frequently Asked Questions
Can I transfer money on a weekend or holiday?
You can start a transfer on a weekend or holiday through your bank's website or app, but it will not process until the next business day. If you start a transfer on Friday evening, it will begin processing on Monday, and the money will usually arrive by Wednesday or Thursday.
What happens if I enter the wrong account number?
If the account number does not match any account at the receiving bank, the transfer will be rejected and the money will come back to your account within a few days. If the account number matches a real account but belongs to the wrong person, the money will go to that account, and recovering it is difficult. Always double-check the account number and the account holder's name before confirming.
Can I cancel a transfer after I have sent it?
If you cancel an ACH transfer before it processes (usually within a few hours of sending it), your bank can stop it. Once it has processed and left your bank, it is much harder to cancel. Wire transfers are nearly impossible to cancel once sent. Contact your bank when ready if you need to stop a transfer.
Do I need to tell the other bank I am transferring money to my account there?
No. As long as you own the account and have the correct routing and account numbers, the transfer will go through without any action from the receiving bank. The money will appear in the account automatically.
Is there a limit to how much I can transfer?
Most banks do not have a limit on ACH transfers, though some banks cap the amount per day or per month for security reasons. Wire transfers usually have higher limits. Check with your bank about their specific limits, or ask a teller if you are transferring a large amount.