Yes, you can transfer money between banks, and you have several ways to do it

Moving money from one bank to another is a routine transaction that most banks support. The method you choose depends on how fast you need the money to arrive, whether you want to do it online or in person, and what information you have about the receiving account. Some transfers arrive the same day; others take three to five business days. All of them are free or low-cost if you use your bank's standard transfer service.

The key difference between transfer methods is speed and the setup required. A wire transfer moves money fastest but costs money and requires you to know the receiving bank's routing number. An ACH transfer (Automated Clearing House) is free, takes longer, and works through your online banking portal. A mobile app transfer or in-person visit at a branch are options if you prefer not to use a computer. Understanding which method fits your situation will save you time and money.

Key Takeaways

  • ACH transfers are free, work through your online banking portal, and typically arrive in one to three business days.
  • Wire transfers arrive the same day or next business day but cost between $15 and $30 and require the receiving bank's routing number and account number.
  • You can transfer money using your bank's mobile app, website, or by visiting a branch in person — all methods connect to the same underlying transfer systems.
  • The receiving bank's account number and routing number are the two pieces of information you will need for any transfer method.
  • Some banks limit how much you can transfer in a single day or how many transfers you can make per month, so check your account terms.

ACH transfers: the free standard method

An ACH transfer is the most common way to move money between banks because it costs nothing and works through your existing online banking setup. ACH stands for Automated Clearing House — it is the system that processes transfers between banks overnight. When you initiate an ACH transfer, your bank sends the instruction to a clearing house, which then sends it to the receiving bank. The whole process typically takes one to three business days.

To start an ACH transfer, log into your bank's website or app and look for a button labeled "Transfer," "Send Money," or "Pay." You will enter the receiving bank's name, the account number, and the routing number (a nine-digit code that identifies the receiving bank). Your bank will usually verify the account by depositing two small amounts (under $1 each) into the receiving account, then asking you to confirm those amounts. Once confirmed, the account is linked and you can transfer money to it anytime.

ACH transfers work best when you are not in a hurry. If you need money to arrive within hours, this is not the right method. If you are moving money between accounts you own, or paying a regular bill, ACH is usually the fastest and cheapest option available.

Wire transfers: fast but with a cost

A wire transfer moves money the same business day or the next business day, making it the fastest option available. The tradeoff is cost — most banks charge between $15 and $30 per outgoing wire transfer. Wire transfers are also irreversible once sent, so you need to be certain of the receiving account details before you initiate one.

To send a wire transfer, you will need the receiving bank's name, routing number, the account number, and the account holder's name. Some banks also ask for the account holder's address. You can initiate a wire through your online banking portal, your mobile app, or by calling your bank or visiting a branch. If you call or visit in person, a bank employee will walk you through the process and confirm all the details before sending.

Wire transfers are useful when you need money to arrive urgently — for example, to meet a important date on a home purchase or to send money to someone in another country. They are also the standard method for large transfers. However, because they are irreversible, they are also a common target for fraud. If someone asks you to wire money to them, verify their identity through a separate phone call or in person before you do.

Mobile app and online transfers

Most banks now let you transfer money through their mobile app or website without visiting a branch. The process is the same whether you use an app or a computer — you enter the receiving account details and the amount, then confirm the transfer. The underlying method (ACH or wire) depends on which option you select in the app or website, not on the device you use.

Some banks also offer peer-to-peer transfers through apps like Venmo, PayPal, or Square Cash. These apps let you send money to another person using their email address or phone number instead of their bank account number. The receiving person then transfers the money into their own bank account. Peer-to-peer transfers are convenient for splitting bills or sending money to friends, but they are slower than direct bank transfers and may have daily limits on how much you can send.

In-person transfers at a branch

If you prefer to handle transfers in person, you can visit a branch of your bank and ask a teller to transfer money for you. Bring your account number and the receiving account details (account number, routing number, and receiving bank name). The teller will process the transfer using the same ACH or wire system — the only difference is that a bank employee is entering the information instead of you.

In-person transfers are useful if you are not comfortable using online banking, if you have questions about the process, or if you want to transfer a large amount and want a bank employee to verify the details. There is no additional cost for using a teller instead of doing it yourself online.

What information you need before you start

Before you initiate any transfer, gather these details about the receiving account: the account holder's name, the account number, the routing number, and the name of the receiving bank. The account number is usually printed on a check or visible in the receiving bank's online portal. The routing number is a nine-digit code specific to each bank — you can find it on a check, by calling the receiving bank, or by searching the bank's name on the Federal Reserve's routing number lookup tool.

If you are transferring to an account at the same bank where you have another account, you may only need the account number — the routing number is already known. If you are transferring to a different bank, you will need all four pieces of information. Double-check the account number and routing number before you send the transfer, because a mistake could send your money to the wrong account.

Transfer limits and timing

Most banks limit how much you can transfer in a single day and how many transfers you can make per month. These limits vary by bank and by account type. A typical limit might be $10,000 per day or $25,000 per month, but some banks allow more and some allow less. Check your account agreement or call your bank to find out what your limits are.

ACH transfers typically arrive within one to three business days. Wire transfers usually arrive the same business day if you send them before your bank's cutoff time (often 2 or 3 p.m.), or the next business day if you send them after. Transfers sent on weekends or holidays may take longer because the clearing house does not process them until the next business day. If you need money by a specific date, plan ahead and send it early.

Frequently Asked Questions

Can I transfer money between banks if I do not have online banking?

Yes. Visit a branch of your bank in person and ask a teller to transfer money for you. Bring the receiving account number, routing number, and the name of the receiving bank. The teller will process the transfer the same way an online transfer works, and there is no extra charge.

What happens if I enter the wrong account number?

The money will go to the account number you entered, which may belong to someone else. Contact your bank when ready and explain the mistake. Your bank can sometimes reverse the transfer or contact the receiving bank to recover the funds, but this is not always possible. This is why wire transfers are risky — they are irreversible. ACH transfers can sometimes be reversed within a few days.

How long does a transfer take if I send it on a Friday?

An ACH transfer sent on Friday will typically arrive on Monday or Tuesday, depending on your bank and the receiving bank. A wire transfer sent before your bank's cutoff time on Friday will usually arrive the same day. If you send it after the cutoff, it will arrive Monday. Transfers do not process on weekends or federal holidays.

Is there a limit to how much I can transfer?

Yes, most banks set daily and monthly transfer limits. These limits vary by bank and account type — a typical limit might be $10,000 per day or $25,000 per month. Contact your bank to find out your specific limits. You can sometimes request a higher limit if you need to transfer a larger amount.

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

Yes, but you will need to use a wire transfer or an international money transfer service. Wire transfers to other countries work the same way as domestic wires, but they cost more (often $30 to $50) and take longer (one to five business days). Some banks also offer international ACH transfers, which are slower but cheaper. Ask your bank what options are available.