The fastest way depends on which banks you use and how soon you need the money there
If both accounts are at the same bank, you can move money between them in minutes using online banking, a mobile app, or by calling the bank directly. If the accounts are at different banks, the method and speed depend on what both banks offer. A wire transfer arrives the same business day but costs $15 to $30. An ACH transfer (also called an electronic transfer) is free or costs a few dollars, but takes one to three business days. A debit card or check works if you are not in a hurry.
The account you are sending from must have enough money to cover the transfer, and you will need the receiving account's routing number and account number. If you do not have those details, you can find them on a blank check, in your online banking portal, or by calling the receiving bank.
Key Takeaways
- Same-bank transfers happen when ready through online banking or a phone call, with no fee.
- Wire transfers between different banks arrive the same business day but cost $15 to $30 and cannot be reversed once sent.
- ACH transfers are free or low-cost and take one to three business days, making them the cheapest option when you are not rushed.
- You will need the receiving account's routing number and account number, which you can find on a check or by calling the bank.
- Some banks let you set up recurring transfers if you move money on a regular schedule.
Same-bank transfers: when ready and free
If you have two accounts at the same bank, moving money between them takes minutes and costs nothing. Log into your online banking portal or mobile app, find the transfer or move money option (the exact name varies by bank), select the sending account and the receiving account, enter the amount, and confirm. The money appears in the receiving account when ready or within a few hours, depending on the bank's processing schedule.
If you do not use online banking, call the bank's customer service line and give them the account numbers and the amount you want to transfer. They will process it over the phone, usually while you are still on the call. Some banks also let you walk into a branch and ask a teller to move money between your accounts on the spot.
Wire transfers: same-day arrival, but not reversible
A wire transfer moves money between different banks and arrives the same business day, usually within a few hours. To send a wire, you will need the receiving account's routing number, account number, and the account holder's name. You can initiate a wire through your online banking portal, by calling your bank, or by visiting a branch in person.
Wire transfers cost $15 to $30 depending on your bank and whether the receiving bank is domestic or international. Once the money leaves your account, you cannot reverse the transfer or get it back if you made a mistake or sent it to the wrong place. For this reason, double-check the routing number and account number before you confirm. If you are unsure about the receiving account details, call the receiving bank directly to verify them before you send anything.
Some banks limit how much you can wire in a single day or require you to set up the receiving account in advance. Check with your bank about its wire transfer limits before you try to send a large amount.
ACH transfers: free or cheap, but slower
An ACH transfer (Automated Clearing House) is an electronic transfer between different banks that is free or costs $1 to $3. It takes one to three business days to arrive, depending on when you initiate it and how quickly both banks process it. If you send an ACH transfer on a Friday evening, it may not arrive until Tuesday or Wednesday.
To set up an ACH transfer, log into your online banking portal and look for the option to transfer to an external account or add a payee. You will enter the receiving account's routing number and account number, give the account a nickname (like "Savings Account" or "Mom's Checking"), and then select it when you want to transfer money. After you add the account, your bank may require you to verify it by depositing small amounts (usually under $1 each) and confirming the amounts. This verification step can take a few days.
Once the receiving account is verified, you can transfer money to it when ready through your online portal, though the actual arrival takes one to three business days. Unlike a wire transfer, you can cancel an ACH transfer if you catch the mistake before it processes, but once it arrives at the receiving bank, you cannot reverse it.
Using checks or debit cards for smaller amounts
If you are moving a small amount and are not in a hurry, you can write a check from the sending account and deposit it into the receiving account. This takes five to seven business days because the check has to be mailed, received, and processed. If both accounts are at banks in the same town, you can deposit the check at an ATM or a branch and it may clear faster.
You can also withdraw cash from the sending account using a debit card and deposit it into the receiving account. This works for any amount but requires you to be physically present at both banks (or ATMs) and carries the risk of losing the cash in transit.
Setting up recurring transfers
If you move money between the same two accounts on a regular schedule — for example, transferring money from checking to savings every payday — most banks let you set up an automatic recurring transfer. You choose the amount, the frequency (weekly, monthly, etc.), and the start date, and the bank handles the transfer automatically on that schedule.
Recurring transfers use the same method as one-time transfers (same-bank transfers are when ready, ACH transfers take one to three days), so the timing does not change. The advantage is that you do not have to remember to initiate the transfer manually each time. You can edit or cancel a recurring transfer at any time through your online banking portal.
What to do if a transfer goes wrong
If money does not arrive when you expected it, log into your online banking portal and check the transfer status. Most banks show whether a transfer is pending, processing, or completed. If it is still pending after the expected timeframe, contact your bank's customer service line and ask them to investigate.
If you sent money to the wrong account, contact your bank when ready. For wire transfers, call right away because the money may still be in the receiving bank's queue and can sometimes be recalled before it is deposited. For ACH transfers, contact your bank and the receiving bank to ask them to reverse the transaction. If the money has already been deposited and the account holder will not return it, you may need to file a dispute or contact law enforcement, but recovery is not may provide.
Keep a record of every transfer you make, including the date, amount, receiving account number, and confirmation number. If there is a problem later, you will have proof of what you sent and when.
Frequently Asked Questions
Can I transfer money between banks on a weekend?
You can initiate the transfer through your online banking portal or mobile app on a weekend, but the actual processing happens during business days. If you send a transfer on Saturday, it will not start processing until Monday, so it will arrive one to three days later than a transfer sent on a weekday.
What is the difference between a routing number and an account number?
A routing number identifies the bank itself (for example, all Chase checking accounts in a certain region share the same routing number). An account number identifies your specific account at that bank. You need both to transfer money to someone else's account at a different bank.
Is it safe to give someone my routing number and account number?
Your routing number is public information — it appears on every check you write. Your account number is more sensitive, but giving both to someone you trust for a legitimate transfer is safe. Never share this information with someone you do not know or who contacted you unexpectedly.
Can I transfer money to a savings account at a different bank?
Yes. The process is the same whether the receiving account is a checking account, savings account, or money market account. You will need the routing number and account number for whichever account you are sending to.
What happens if I send a wire transfer to the wrong account?
Call your bank when ready and ask them to recall the wire. If the money has not been deposited yet, the receiving bank may be able to stop it. If it has already been deposited, recovery depends on whether the account holder cooperates. Wire transfers cannot be reversed after they are completed, so prevention is critical.