Yes, you can transfer money to another bank account online in most cases

Most banks let you move money to accounts at other banks through their website or mobile app. The process is straightforward: you log in, enter the receiving account's details, and confirm the transfer. The money usually arrives within one to three business days, though some banks offer faster options for an extra fee.

The catch is that you need certain information before you start. You'll need the recipient's full name, their bank's routing number (a nine-digit code that identifies their bank), and their account number. If any of these details are wrong, the transfer may bounce back or go to the wrong person, which is why banks ask you to verify everything before you confirm.

Not every transfer method works the same way. Some are faster and more expensive. Some require you to set up the recipient's account first. Understanding which option fits your situation — and which one your bank actually offers — saves time and money.

Key Takeaways

  • Online transfers between banks typically take one to three business days and require the recipient's routing number and account number.
  • You must add a recipient account to your bank's system before you can transfer money to it, a process that usually takes 24 hours.
  • Wire transfers are faster (often same-day) but cost more and cannot be reversed once sent, so use them only when you are certain of the details.
  • ACH transfers are slower but free or very cheap, and they are the standard method most people use for regular transfers.
  • If your bank does not offer online transfers, you can use a third-party service like PayPal or a money transfer app, though these may charge fees or have daily limits.

How to set up a transfer to another bank

Before you can send money, you need to tell your bank where it should go. Log into your bank's website or app and look for a section called "Transfer Money," "Send Money," "Payments," or "Manage Recipients." The exact name varies by bank.

Click the option to add a new recipient or external account. Your bank will ask for the recipient's name, their bank's routing number, and their account number. Double-check these details with the person receiving the money — a single wrong digit sends the transfer to the wrong account. Some banks will verify the account by depositing two small amounts (usually under $1 each) and asking the recipient to confirm the amounts; this takes a few extra days but catches errors before real money moves.

Once the account is set up, you can transfer money to it. Enter the amount, pick a transfer date (usually "today" or a future date), and review the details one more time before confirming. Your bank will show you an estimated arrival date based on the transfer method you chose.

ACH transfers: the standard, slow, and cheap option

ACH stands for Automated Clearing House, which is the system most banks use to move money between accounts. It is the default option when you transfer money online, and it is free or costs just a few dollars.

ACH transfers typically take one to three business days. "Business days" means Monday through Friday, excluding federal holidays, so a transfer you send on Friday afternoon may not arrive until Tuesday. Some banks offer "next business day" ACH for a small fee (usually $1 to $3), which guarantees arrival by the next business day instead of waiting up to three.

ACH transfers are safe because they can be reversed if something goes wrong. If you send money to the wrong account by mistake, you can contact your bank and ask them to recall it. The receiving bank has to cooperate, and the money comes back to you. This safety net is why ACH is the right choice for most transfers — especially if you are sending money to someone new or if the amount is large.

Wire transfers: fast but final and expensive

A wire transfer moves money the same day or next business day, depending on what time you send it and whether both banks process it when ready. This speed comes at a cost: wire transfers usually charge $15 to $30 per transfer, and some banks charge more.

The bigger risk is that wire transfers cannot be reversed. Once the money leaves your account and arrives at the other bank, it is gone. If you wire money to the wrong account or to someone who does not send you what they promised, you have almost no way to get it back. This is why scammers often ask victims to wire money — they know the victim cannot undo it.

Use wire transfers only when you are absolutely certain of the account details and you trust the recipient. Common reasons to wire money include paying a down payment on a house (where a lawyer or title company confirms the account details), sending money to a family member in another country, or paying a business invoice when they specifically request a wire.

What information you need before you transfer

Gather these details from the person receiving the money before you start the transfer:

  • The recipient's full legal name (exactly as it appears on their bank account)
  • Their bank account number
  • Their bank's routing number (a nine-digit code; the recipient can find this on a check or by calling their bank)
  • The name of their bank and the state it is in (for wire transfers, you may also need the bank's SWIFT code if the account is outside the United States)

If you are transferring to an account in another country, you will need additional information like an IBAN (International Bank Account Number) instead of a routing number. Ask the recipient what their bank requires, or ask your bank what information you need to send money internationally.

When transfers fail or take longer than expected

Transfers usually arrive on time, but delays happen. If the receiving bank is closed (weekends, holidays), the transfer waits until they reopen. If you entered the wrong routing number, the transfer may bounce back to your account after a few days, and you will have to try again with the correct number.

If a transfer does not arrive within the time your bank promised, contact your bank's customer service. They can look up the transfer using the confirmation number you received when you sent it and tell you where the money is. In rare cases, the receiving bank may have rejected the transfer for a reason (like a name mismatch), and your bank can help you fix it and resend.

Keep your confirmation number and the date you sent the transfer. If something goes wrong, you will need these to prove you sent the money and to track it down.

Alternatives if your bank does not offer online transfers

Some banks, especially smaller or newer ones, may not offer transfers to other banks through their website. In that case, you have other options.

Third-party money transfer apps like PayPal, Venmo, Square Cash, and Wise let you send money to another person's bank account. These apps usually charge a fee (often a percentage of the amount you send) and may have daily or monthly limits on how much you can transfer. They are useful for sending money to friends or family, but they are slower and more expensive than a direct bank transfer, so use them only if your bank does not offer the service you need.

You can also visit a branch in person and ask a teller to process a transfer for you. This takes longer and may cost more than an online transfer, but it works if you do not have online access or if you need help with the process.

Frequently Asked Questions

How long does it really take for money to show up in the other account?

ACH transfers take one to three business days, meaning the money may not arrive until two or three days after you send it. Wire transfers arrive the same day or next business day if you send them before your bank's cutoff time (usually mid-morning). Some banks offer "next business day" ACH for a fee, which guarantees arrival by the next business day instead of waiting up to three.

What happens if I enter the wrong account number?

If the account number does not exist or belongs to someone else, the receiving bank will reject the transfer and send the money back to your account after a few days. If the account number is correct but belongs to the wrong person (because you got the name wrong), the money may arrive in their account, and you will have to contact your bank to try to recover it. This is why verifying the details with the recipient is so important.

Can I cancel a transfer after I send it?

With ACH transfers, you can usually cancel within a few hours of sending it, before the transfer leaves your bank. With wire transfers, cancellation is almost impossible once the money has left your account. Contact your bank when ready if you need to cancel — the sooner you act, the better your chances.

Do I have to pay a fee to transfer money to another bank?

Most banks do not charge for ACH transfers. Some banks charge $1 to $3 for faster ACH (next business day delivery). Wire transfers cost $15 to $30 or more. Check your bank's fee schedule or ask a teller what they charge for the type of transfer you want to send.

Can I transfer money to a bank account in another country?

Yes, but international transfers are slower and more expensive than domestic ones. You will need the recipient's IBAN or SWIFT code instead of a routing number, and the transfer may take five to ten business days. International wire transfers typically cost $25 to $50 or more. Ask your bank what information you need and what they charge before you send.