The main ways to transfer money to another bank

You have four practical routes: ACH transfer (the slowest but free option), wire transfer (fast but costs money), peer-to-peer payment apps (when ready for some banks, free or cheap), and cashier's check or cash withdrawal (the oldest method, still works). Which one makes sense depends on how fast you need the money there, whether you know the recipient's account details, and how much you're moving.

Most people use ACH transfers for routine moves between their own accounts or to people they trust. Wire transfers are for time-sensitive situations where you're willing to pay $15 to $50 for speed. Apps like Venmo, PayPal, and Cash App work for smaller amounts between people who have the app. If you're moving money to your own account at a different bank, ACH is usually free and takes one to three business days.

Key Takeaways

  • ACH transfers are free and take one to three business days, and most banks let you start one through their website or app without leaving home.
  • Wire transfers move money the same day or next business day but cost $15 to $50 and require the recipient's full account and routing number.
  • Peer-to-peer apps like Venmo and Cash App are when ready for amounts under $500 to $1,000, but both people need the app and a linked bank account.
  • You can always withdraw cash and deposit it in person, which works if the other bank has a branch near you or if you need a paper trail.
  • Never send money to someone you don't know or trust, because ACH and wire transfers cannot be reversed once the recipient's bank accepts them.

ACH transfers: free, slow, and the default choice

ACH stands for Automated Clearing House, and it's the electronic system most banks use to move money between accounts. You initiate it through your bank's website or app, enter the recipient's routing number and account number, and the money arrives in one to three business days. There's no fee on either end, and you can schedule it in advance or send it when ready.

To start an ACH transfer, log into your bank's website or mobile app and look for "Send Money," "Transfer," or "Pay Someone." You'll need the recipient's full name, the bank name, the routing number (a nine-digit code that identifies the bank), and the account number. If you're moving money to your own account at another bank, you already have all this information. If you're sending to someone else, you'll need to ask them for their routing and account numbers—never guess or use a number someone texted you without confirming it directly with them.

The main drawback is the wait. If you send an ACH transfer on a Friday afternoon, it won't land until Tuesday or Wednesday. If you need money to arrive the same day or by tomorrow morning, ACH won't work. Also, once the receiving bank accepts the transfer, you cannot reverse it—so if you send it to the wrong account, you'll have to contact that bank and ask them to return it, which may or may not happen.

Wire transfers: fast but expensive and final

A wire transfer moves money the same business day or by the next morning, depending on what time you send it and whether the receiving bank processes it when ready. You pay for this speed: most banks charge $15 to $50 per outgoing wire, and some charge the recipient's bank a fee too. Once the money lands, it cannot be reversed—the receiving bank owns it.

To send a wire, call your bank or go to a branch in person. Some banks let you initiate a wire through their app or website, but many still require a phone call or in-person visit for security reasons. You'll need the recipient's full name, account number, routing number, and the bank name and address. Double-check every digit before you confirm—a single wrong number sends the money to the wrong account, and recovery is difficult or impossible.

Wire transfers are most common for large purchases (a down payment on a house, a car), time-sensitive business payments, or sending money internationally. For moving money between your own accounts or to a friend, ACH is usually the better choice unless you genuinely need the money there by tomorrow.

Peer-to-peer apps: when ready for small amounts

Apps like Venmo, Cash App, PayPal, and Zelle let you send money when ready to someone else's phone number or email address, as long as they have the same app and a linked bank account. Most transfers under $500 arrive within minutes. There's usually no fee if you're sending from your bank account (though some apps charge if you use a credit card). The money goes to the recipient's app account first, then they can transfer it to their bank account, which takes one to three business days.

The catch is that both people need the app. If you're sending to someone who doesn't use Venmo or Cash App, this won't work. Also, these apps are designed for small, casual transfers between people who know each other—not for large amounts or strangers. If something goes wrong, the app company's customer service is often slower than a bank's, and reversing a transfer is harder.

Zelle is different because it's built into most major banks' apps and websites. If both you and the recipient bank at institutions that use Zelle, you can send money directly through your bank's app without downloading a separate app. Zelle transfers are usually when ready and free.

Withdrawing cash and depositing it in person

If the other bank has a branch near you, you can withdraw cash from your current bank and deposit it at the other bank. This is slow (you have to go to two places) but it works, leaves a paper trail, and requires no account numbers or routing information. The receiving bank will deposit the cash into the account you specify, usually within one business day.

This method is useful if you don't have the recipient's account details, if you're uncomfortable sharing account numbers online, or if you're moving a small amount and don't mind the trip. It's not practical for large amounts—banks report cash deposits over $10,000 to the IRS, and carrying large amounts of cash is risky.

What to do if something goes wrong

If you sent money to the wrong account or the recipient never received it, your options depend on the method. With ACH, contact your bank when ready and ask them to file a reversal request with the receiving bank. The receiving bank is not required to honor it, but many will if you ask within a few days and can show the transfer was sent in error. This process takes one to two weeks.

With a wire transfer, call your bank right away and ask them to attempt a wire recall. This is not may provide to work—if the receiving bank has already released the funds, the money is gone. If the recipient is someone you know, ask them directly to send it back. If it's a stranger or a scam, contact the FBI's Internet Crime Complaint Center (IC3) at ic3.gov and file a report with your bank's fraud department.

With peer-to-peer apps, contact the app's support team when ready. Some apps can reverse a transfer if the recipient hasn't withdrawn the money yet. If the money has left the app and gone to the recipient's bank account, you'll need to ask the recipient to send it back, or pursue a chargeback through your bank if you believe you were scammed.

How to protect yourself when transferring money

Never send money to someone you don't know or trust, and never send money based on a request that came through email, text, or social media—even if it looks like it came from someone you know. Scammers impersonate friends, family, and businesses all the time, and once the money is transferred, it's gone.

Before you send, verify the recipient's information directly with them. Call them on a phone number you know is theirs, or ask them in person. Don't use a phone number or email address from the message asking for money—that could be fake. If someone is asking you to wire money urgently or threatening you, that's a scam.

For large transfers, especially to someone new, consider sending a small test amount first ($1 or $5) to make sure the account details are correct. Once that arrives, you know the routing and account numbers are right, and you can send the rest.

Frequently Asked Questions

Can I transfer money between banks on a weekend?

You can initiate the transfer any time through your bank's app or website, but the money won't actually move until the next business day. ACH transfers initiated on Friday won't arrive until Tuesday or later. Wire transfers sent on a weekend won't process until Monday. Peer-to-peer apps like Venmo and Cash App work on weekends and holidays.

What if I don't know the recipient's routing number?

Ask them directly, or look it up on their bank's website—most banks publish their routing number publicly. You can also call the bank's customer service line and give them the account holder's name and account number, and they'll tell you the routing number. Never use a routing number someone texted or emailed you without confirming it another way.

Is there a limit to how much I can transfer?

ACH transfers usually have a daily limit of $10,000 to $25,000 per transaction, depending on your bank, though you can often request a higher limit. Wire transfers have higher limits, sometimes $100,000 or more. Peer-to-peer apps typically cap transfers at $500 to $2,000 per transaction. Contact your bank if you need to move more than their standard limit.

What happens if I send money to the wrong account number?

The money will go to whatever account that routing and account number belongs to—which could be someone else's account. Contact your bank when ready and ask for a reversal. The receiving bank is not required to send it back, but many will if you explain it was sent in error. This process takes one to two weeks, and there's no may provide of success.

Can I reverse a transfer after I've sent it?

With ACH, you have a narrow window—usually less than a day—to ask your bank to try to recall it before it settles. With wire transfers, a recall is possible but not may provide. With peer-to-peer apps, it depends on whether the recipient has withdrawn the money yet. The sooner you contact your bank or app, the better your chances.