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 service. Your bank can send money to an account at a different bank, and that other bank will receive it. The process is straightforward once you know which method to use — but the method you choose affects how long it takes and what information you need to provide.

Most transfers between banks happen through a system called the Automated Clearing House (ACH), which is a network that moves money between financial institutions. When you start a transfer, your bank sends an electronic instruction through this network to the receiving bank. The receiving bank then deposits the money into the account you specified.

You have several ways to move money between banks, and each one works differently. Some are fast but cost money. Others are free but take longer. Knowing your options helps you pick the right one for your situation.

Key Takeaways

  • ACH transfers are free and take one to three business days, making them the most common way to move money between banks.
  • Wire transfers move money the same day or next business day but typically cost between $15 and $30 per transfer.
  • You will need the receiving bank's routing number and the account number where you want the money to go.
  • You can start a transfer from your bank's website, mobile app, or by calling customer service, and you do not need to visit a branch.
  • Transfers sent on weekends or holidays are processed on the next business day, so timing matters if you need money quickly.

ACH transfers: the free option that takes a few days

An ACH transfer is the most common way to move money between banks because it is free and works reliably. Your bank sends the money through the ACH network, and it arrives at the other bank within one to three business days. Most transfers complete in two business days.

To start an ACH transfer, you need the receiving bank's routing number (a nine-digit code that identifies the bank) and the account number where you want the money to go. You can find the routing number on your checks, on the receiving bank's website, or by calling them. Once you have both numbers, you can start the transfer through your bank's website or app without leaving home.

The main drawback is the wait. If you need money today or tomorrow, an ACH transfer will not work. But if you can wait a few days and want to avoid fees, this is your best choice. There is no limit on how much you can transfer, though some banks set their own daily or monthly caps — check with your bank if you are moving a large amount.

Wire transfers: fast but with a cost

A wire transfer moves money much faster than an ACH transfer, usually arriving the same day or the next business day. Banks charge for wire transfers, typically between $15 and $30 per transfer depending on whether the money is going to a domestic bank (within the United States) or an international one.

You start a wire transfer the same way you start an ACH transfer — through your bank's website, app, or by calling. You will need the routing number and account number of the receiving bank. Some banks also ask for the account holder's name and address to confirm you are sending money to the right place.

Wire transfers are useful when you need money to arrive quickly, such as when you are buying a house and need to send a down payment by a certain date. They are also useful when you are sending money to someone you do not know well and want it to arrive fast. However, wire transfers are harder to reverse if you make a mistake, so double-check the account number before you send.

What information you need to provide

Before you can transfer money to another bank, you need to gather a few pieces of information about the receiving account. The most important are the routing number and account number of the bank and account where you want the money to go.

The routing number identifies the specific bank branch. The account number identifies the specific account within that bank. Together, they tell your bank exactly where to send the money. You can find both on a check from that account — the routing number is the first set of numbers on the bottom left, and the account number is the second set. You can also call the receiving bank or visit their website to find the routing number.

For wire transfers, your bank may also ask for the account holder's full name and address. This is a safety step to make sure the money is going to the right person. For ACH transfers, the name is helpful but not always required by the system itself — though your bank may ask for it anyway.

How to start a transfer from your bank

Most banks let you start a transfer without visiting a branch. Log into your bank's website or open the mobile app, then look for a section called "Transfer Money," "Send Money," or "Payments." Click that section and choose the option to transfer to another bank (sometimes called an "external transfer" or "transfer to another financial institution").

You will be asked to enter the routing number and account number of the receiving bank. Some banks let you save this information so you do not have to type it in every time. After you enter the account details, you will choose the amount and the date you want the transfer to happen. Most banks let you schedule a transfer for a future date, which is useful if you know when you will need the money to arrive.

Review the details carefully before you confirm. Check that the routing number and account number are correct, because mistakes can send your money to the wrong place. Once you confirm, the transfer is submitted. Your bank will send you a confirmation number — save this in case you need to track the transfer later.

If you do not feel comfortable doing this online, you can call your bank's customer service line and ask them to start the transfer for you. They will ask you the same questions and submit it on your behalf.

How long transfers actually take

ACH transfers typically take one to three business days, with two business days being the most common. This means if you start a transfer on a Monday morning, the money usually arrives by Wednesday. If you start it on a Friday, it will not arrive until Tuesday because the weekend does not count as business days.

Wire transfers are faster. Domestic wire transfers (to banks within the United States) usually arrive the same day if you send them before your bank's cutoff time, which is often 2 or 3 p.m. If you send after the cutoff, the transfer goes out the next business day. International wire transfers take longer, usually one to three business days depending on the receiving country.

Banks do not process transfers on weekends or federal holidays. If you start a transfer on Saturday, it will not be processed until Monday. This is important to know if you have a important date — plan ahead and send your transfer on a weekday morning to make sure it arrives on time.

Fees and limits you should know about

ACH transfers are free at most banks. Wire transfers cost money — usually $15 to $30 for a domestic transfer and more for international transfers. Some banks charge different amounts depending on whether you are sending or receiving the money, so check your bank's fee schedule.

Most banks do not limit how much you can transfer in a single transaction, but many set daily or monthly caps. For example, your bank might let you transfer up to $10,000 per day or $50,000 per month. If you need to move more than your bank's limit, you can either wait and do multiple transfers, or call your bank to ask if they can raise your limit temporarily.

Some banks charge a fee if you receive a wire transfer, though this is less common. Ask the person sending you money whether their bank charges a receiving fee, so you know what to expect.

What to do if something goes wrong

If you realize you made a mistake after you sent a transfer, act quickly. ACH transfers can sometimes be stopped if you contact your bank before the money leaves, but once it has been sent, it is harder to reverse. Wire transfers are even harder to reverse because they move so fast.

If money goes to the wrong account, contact your bank when ready with the confirmation number from your transfer. Your bank can try to recover the money, but this takes time and is not always successful. This is why it is so important to double-check the routing number and account number before you confirm.

If the money does not arrive when you expect it, check your bank's website first to see if the transfer is still pending. If it shows as completed but the receiving bank has not received it, contact your bank with the confirmation number. They can investigate and trace the transfer through the system.

Frequently Asked Questions

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

Yes, but you will need to use a wire transfer, which takes longer and costs more. International wire transfers typically take one to three business days and may cost $30 to $50 or more. You will need the receiving bank's international routing code (called a SWIFT code or IBAN) instead of a domestic routing number. Ask your bank for help with international transfers because the process is more complex.

What if I do not know the routing number?

Call the receiving bank and ask for their routing number — they will give it to you over the phone. You can also visit their website, where the routing number is usually listed in the customer service section. If you have a check from that account, the routing number is printed on the bottom left.

Can I transfer money on a Sunday?

You can start the transfer through your bank's website or app on a Sunday, but your bank will not process it until Monday morning. If you need the money to arrive by a specific date, plan your transfer for a weekday to avoid delays from the weekend.

Is it safe to give someone my routing number and account number?

Your routing number is public information — it is printed on every check and listed on your bank's website. Your account number is more sensitive. It is safe to give both to someone you trust who needs to send you money. However, do not share your account number with someone you do not know or trust, because they could potentially withdraw money from your account.

How do I know if the transfer was successful?

Your bank will send you a confirmation number when you submit the transfer. You can use this number to track the transfer on your bank's website or app. Once the receiving bank deposits the money, it will show up in that account. If you do not see it after the expected number of business days, contact your bank with the confirmation number.