How to Move Money Between Your Bank Accounts

Yes, you can transfer money from your bank account — here's how it actually works

You can move money out of your bank account in several ways, and the method you choose depends on where the money is going and how quickly you need it there. If you're sending money to another account you own at the same bank, it usually happens within minutes or by the next business day. If you're sending it to a different bank entirely, it typically takes one to three business days. You can also withdraw cash and deposit it elsewhere, though this is slower and riskier for larger amounts.

The key thing to understand is that your bank doesn't prevent you from moving your own money — they just need to know it's really you making the request, and they need time to process it depending on the type of transfer.

Key Takeaways

Transfers between accounts at the same bank are fastest, often completing within hours or by the next business day.
Transfers to a different bank use the ACH system and typically take one to three business days.
Wire transfers move money the same day but cost money and require the receiving bank's routing number and account number.
You can set up recurring transfers if you move money to the same place regularly, like a savings account or another person's account.
Most banks let you start a transfer through their website, mobile app, or by calling customer service.

Transfers between accounts at the same bank

If both accounts are at the same bank — say, your checking account and your savings account at the same institution — the transfer is the fastest option. You can usually do this through your bank's website or mobile app by selecting the "transfer" or "move money" option, choosing the account you want to send from and the account you want to send to, and entering the amount.

These transfers often post within a few hours during business hours, or by the next business day if you send it after hours or on a weekend. There is no fee for this type of transfer at most banks. You will need to know the account numbers, but since they're both yours, you already have them.

Transfers to a different bank (ACH transfers)

When you send money to an account at a different bank, your bank uses a system called ACH (Automated Clearing House). This is the standard way banks move money between institutions, and it's free or very low-cost. The trade-off is that it takes longer — usually one to three business days.

To set up an ACH transfer, you'll need the receiving bank's routing number (a nine-digit code that identifies the bank) and the account number of the account you're sending to. Your bank's website or app will have a field to add a new recipient. Once you've entered these details, you can transfer money to that account whenever you want. Many banks save the recipient information so you don't have to re-enter it each time.

The delay happens because ACH transfers batch up throughout the day and are processed in groups. Your bank sends the transfer request, it goes through a clearing house, and then the receiving bank processes it on their end. This is why it takes multiple days rather than happening when ready.

Wire transfers for same-day movement

If you need money to reach another bank the same day, a wire transfer is the option, but it costs money — typically $15 to $30 depending on your bank. Wire transfers move through a different system than ACH transfers and are processed individually rather than in batches, which is why they're faster.

To send a wire transfer, you'll need the same information as an ACH transfer: the receiving bank's routing number and the account number. You can usually request a wire through your bank's website, app, or by calling. Some banks require you to go into a branch in person for wire transfers, especially if it's your first time or if it's a large amount. Wire transfers typically complete the same business day if you send them before your bank's cutoff time (often 2 or 3 p.m.).

Wire transfers are permanent once sent, so make sure you have the correct account number before you confirm. Unlike some other transfers, you cannot cancel a wire transfer once it's been processed.

Transfers you set up to happen automatically

If you move money to the same place regularly — for example, transferring $200 from checking to savings every payday — you can set up a recurring transfer or standing transfer. This tells your bank to move the same amount on the same schedule without you having to request it each time.

You can usually set this up through your bank's website or app by choosing the recurring transfer option, selecting the "from" and "to" accounts, entering the amount and frequency (weekly, monthly, etc.), and choosing a start date. You can pause or cancel a recurring transfer at any time. This is useful for automatic savings or for sending money to someone else's account on a regular basis.

Transfers to people who don't have your bank

If you want to send money to someone at a different bank, you have the same options as transferring to your own account: ACH transfer (one to three days, free), wire transfer (same day, costs money), or recurring transfer if it happens regularly. You'll need their routing number and account number, which they can get from their bank or from a check.

Some banks also offer peer-to-peer payment services (sometimes called P2P or money transfer apps) like Zelle, Venmo, or PayPal. These let you send money using just someone's email address or phone number instead of needing their account and routing numbers. These services vary in speed and fees — some are when ready and free, others take a day or two. Check whether your bank offers these services through their app or website.

What you need before you transfer

For transfers to your own accounts at the same bank, you only need the account numbers, which you have. For transfers to a different bank or to someone else's account, you need two pieces of information: the routing number of the receiving bank and the account number of the receiving account. You can find the routing number by asking the bank, looking it up on the bank's website, or checking a check from that account (it's the first set of numbers at the bottom left). The account number is usually on the check as well, or you can ask the account holder.

For wire transfers, some banks also ask for the account holder's name and address to verify you're sending to the right place. Make sure this information matches exactly — banks will reject a wire if the name doesn't match what's on file at the receiving bank.

Frequently Asked Questions

How long does it take for money to show up after I transfer it?

Transfers between accounts at the same bank usually show up within hours or by the next business day. Transfers to a different bank take one to three business days. Wire transfers complete the same business day if sent before your bank's cutoff time, usually 2 or 3 p.m. Weekends and bank holidays add extra time.

Can I transfer money if I don't have enough in my account?

No. Your bank will reject a transfer if your account balance is lower than the amount you're trying to send. Some banks offer overdraft protection, which lets you transfer more than your balance, but this usually comes with a fee and is not automatic — you have to set it up in advance.

Is there a limit to how much I can transfer?

Most banks set daily or monthly transfer limits for security reasons. These limits vary by bank and by account type. You can usually see your limit in your bank's app or website, or call customer service to ask. If you need to transfer more, you can often request a higher limit or make multiple transfers on different days.

What if I made a mistake and sent money to the wrong account?

ACH transfers can sometimes be reversed if you catch the mistake quickly — contact your bank when ready and explain the error. Wire transfers cannot be reversed once processed, so you would have to contact the receiving bank and ask them to return the money, which they are not required to do. This is why it's important to double-check account numbers before confirming any transfer.

Do I have to pay a fee to transfer money?

Transfers between accounts at the same bank are free. ACH transfers to other banks are usually free. Wire transfers cost money, typically $15 to $30. Some banks charge fees for certain types of transfers or if you exceed a monthly limit. Check your bank's fee schedule or ask customer service what transfers cost at your bank.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.