Yes, you can transfer money between your own accounts at the same bank or different banks
You can move money from one of your bank accounts to another account you own. The transfer works the same way whether both accounts are at the same bank or at different banks — the main difference is how long it takes and what information you need to provide.
If both accounts are at the same bank, the transfer usually happens the same day or within a few hours. If the accounts are at different banks, the transfer typically takes one to three business days because the banks have to communicate through the Federal Reserve's payment network or a private clearing house.
You do not need permission from anyone else, and there are no government restrictions on moving your own money between accounts you control. The only limits are the ones your bank sets — some banks cap how much you can transfer in a single day or how many transfers you can make in a month.
Key Takeaways
- Same-bank transfers usually complete within hours; transfers between different banks take one to three business days.
- You will need the receiving account number and routing number if you are transferring to a different bank.
- Most banks let you set up transfers online, by phone, or in person, and many allow you to schedule transfers for a future date.
- Your bank may limit how much you can transfer in a day or how many transfers you can make per month.
- Transfers between your own accounts do not count toward federal limits on savings account withdrawals.
Same-bank transfers: what you need and how long they take
When both accounts are at the same bank, the money moves through the bank's internal system. You only need the account number of the account you are sending money to. The transfer usually posts within a few hours, and many banks process same-bank transfers when ready.
You can start a same-bank transfer through your bank's website, mobile app, or by calling the bank. Some banks also let you do it at a branch in person. Most banks let you set up a one-time transfer or a recurring transfer that happens on the same day each week or month.
Same-bank transfers are free at most banks. Check your account agreement or call your bank to confirm whether there are any fees, though they are uncommon for transfers between your own accounts.
Transfers between different banks: routing numbers and timing
When you transfer money to an account at a different bank, your bank sends the money through the Automated Clearing House (ACH) network, which is the system that handles most electronic transfers between banks. This process takes longer because the two banks have to confirm the transfer and move the money through a central clearing system.
You will need the receiving account number and the routing number of the bank where the receiving account is held. The routing number is a nine-digit code that identifies the bank. You can find it on the receiving bank's website, by calling the bank, or by looking at a check from that account — the routing number is printed at the bottom left of the check.
ACH transfers typically take one to three business days. The exact timing depends on when you initiate the transfer and whether the receiving bank processes transfers on weekends. If you send a transfer on a Friday evening, it may not arrive until Tuesday. Transfers initiated on a weekend or holiday usually do not start processing until the next business day.
Most banks charge no fee for ACH transfers between your own accounts. Some banks charge a small fee — usually $1 to $3 — so check your account agreement or ask your bank before you transfer.
Wire transfers: faster but more expensive
If you need money to move faster than an ACH transfer allows, you can use a wire transfer. Wire transfers typically complete the same day or within 24 hours, depending on what time you send them and whether the receiving bank processes wires on weekends.
Wire transfers cost more than ACH transfers. Most banks charge $15 to $30 per outgoing wire transfer. You will need the same information as an ACH transfer — the account number and routing number — plus the full name on the receiving account.
Wire transfers are harder to reverse if you make a mistake, so double-check the account number and routing number before you send. If you send money to the wrong account, you may not be able to recover it.
What information you need to provide
| Transfer Type | Information Needed | Timing | Typical Cost |
|---|---|---|---|
| Same bank | Receiving account number only | Same day or within hours | Free |
| ACH (different bank) | Receiving account number and routing number | One to three business days | Free or $1–$3 |
| Wire transfer | Receiving account number, routing number, and account holder name | Same day or next business day | $15–$30 |
How to start a transfer through your bank
Most banks let you transfer money online through their website or mobile app. Log into your account, look for a "Transfer" or "Move Money" button, and select the account you want to send money from and the account you want to send it to. Enter the amount and confirm the transfer.
If the receiving account is at a different bank, you may need to add it first. Your bank will ask for the account number and routing number, and some banks verify the account by sending two small deposits to it — you then confirm the amounts to prove you own the account. This verification usually takes one to two business days.
You can also call your bank's customer service line and ask a representative to process the transfer for you. Some banks still let you do transfers in person at a branch, though this is less common than it used to be.
Limits your bank may set on transfers
Your bank may limit how much you can transfer in a single day. These limits vary widely — some banks allow up to $10,000 per day, while others allow $25,000 or more. Check your account agreement or log into your online banking to see what your limit is.
Some banks also limit how many transfers you can make per month, though this is less common than daily limits. These limits explore to transfers you initiate yourself; transfers that your bank initiates on your behalf (like direct deposits) do not count toward the limit.
If you need to transfer more than your daily limit, you can split the transfer into multiple days, or call your bank to ask whether they can temporarily raise your limit.
Frequently Asked Questions
Do transfers between my own accounts count toward the six-withdrawal limit on savings accounts?
No. Federal rules used to limit how many times per month you could withdraw money from a savings account, but those rules were suspended in 2020 and have not been reinstated. Transfers between your own accounts do not count toward any withdrawal limit.
What happens if I give the wrong account number?
If you give a wrong account number for an ACH transfer, the transfer may be rejected and the money will return to your account within a few business days. If the account number happens to match an account at the receiving bank, the money may go to the wrong person — contact your bank when ready if this happens. Wire transfers are harder to reverse, so always double-check the account number before sending.
Can I transfer money to someone else's account?
No, not through your bank's transfer system. Transfers between accounts at different banks are designed for accounts in your own name. To send money to someone else, you would use a payment app like Venmo or PayPal, or ask your bank about other options like bill pay or a cashier's check.
Why is my transfer taking longer than expected?
ACH transfers usually take one to three business days, but delays can happen if you initiated the transfer after your bank's cutoff time (often 5 p.m. or later), on a weekend, or on a holiday. The receiving bank may also process transfers on a different schedule. Contact your bank if a transfer has been pending for more than three business days.
Can I cancel a transfer after I send it?
You can usually cancel an ACH transfer if you contact your bank before it processes, which is typically within a few hours of when you send it. Wire transfers are much harder to cancel once they are sent. Call your bank right away if you need to stop a transfer.