The simplest way to transfer money to another bank account
The easiest method is usually an ACH transfer (Automated Clearing House), which moves money directly from your bank account to someone else's account at a different bank. You give your bank the receiving account number and routing number, and the money arrives in one to three business days. Most banks let you set this up online or by phone at no cost.
If you need the money to arrive the same day or next day, you can use a wire transfer, though this usually costs $15 to $30 and is faster because it moves through a different system. Wire transfers are common for large amounts or time-sensitive payments, but ACH is what most people use for regular transfers between their own accounts or to friends and family.
A third option is a debit card transfer through services like Venmo, PayPal, or your bank's own app — these are fast and free between individuals, though they may have daily limits on how much you can send.
Key Takeaways
- ACH transfers are free, take one to three business days, and work between any two banks in the United States.
- You will need the receiving account's routing number and account number, which you can find on a check or by asking the account holder.
- Wire transfers cost money but arrive the same day or next day, and are useful when speed matters more than cost.
- Mobile payment apps like Venmo and PayPal are free and when ready between individuals, but have daily sending limits.
- Set up a transfer through your bank's website, mobile app, or by calling customer service — no special forms are required.
What information you need before you start
Before you transfer money, you need the routing number and account number of the bank account you are sending to. The routing number is a nine-digit code that identifies the bank itself. The account number identifies the specific account at that bank. Together, they tell your bank exactly where to send the money.
If you are sending money to someone else, ask them for both numbers. The easiest way to find them is on a personal check — the routing number is the first set of numbers on the bottom left, and the account number is the second set. If the person does not have checks, they can log into their bank's website or app and find both numbers in the account details section, or they can call their bank and ask.
You will also need to know the name on the receiving account. Banks use this to double-check that the money is going to the right place, though the name does not have to match exactly — a small difference usually will not stop the transfer.
How to set up an ACH transfer through your bank
Log into your bank's website or open the mobile app. Look for a section called "Transfer Money," "Send Money," "Pay," or "Transfers" — the exact wording varies by bank. Click on the option to transfer to another bank (not to another account at your own bank).
Enter the routing number and account number of the receiving bank account. Type in the name on that account and the amount you want to send. Most banks will ask you to name this transfer (for example, "Rent to Sarah" or "Loan repayment") so you can find it later in your transaction history.
Review the details one more time to make sure the account number and routing number are correct — a mistake here means the money goes to the wrong place. Then confirm the transfer. Your bank will show you a confirmation number. Write this down or take a screenshot, in case you need to ask about the transfer later.
The money will leave your account within one business day and arrive at the other bank within one to three business days total. You can check the status by looking at your transaction history in your bank's app or website.
Wire transfers when you need money to arrive faster
A wire transfer moves money the same day or next business day, which is much faster than ACH. The trade-off is that wire transfers cost between $15 and $30, depending on your bank. Use a wire transfer when the speed is worth the cost — for example, if you are sending a down payment on a house or paying a time-sensitive bill.
Set up a wire transfer the same way you would an ACH transfer: through your bank's website, app, or by calling. You will need the same information — routing number, account number, and account holder's name. Some banks require you to go into a branch in person for large wire transfers, so call ahead if you are sending a significant amount.
Wire transfers are permanent once they are sent. Unlike ACH transfers, which can sometimes be reversed if there is a mistake, a wire transfer cannot be brought back. This is why banks ask you to double-check the details before you confirm. If you make a mistake, you will have to contact the receiving bank and ask them to return the money, which can take weeks.
Using mobile payment apps for transfers between individuals
Apps like Venmo, PayPal, Square Cash, and Zelle let you send money to another person's phone number or email address. These transfers are usually free and arrive when ready or within a few hours. The receiving person gets the money in their bank account or can keep it in the app to spend later.
To use one of these apps, read it on your phone, link your bank account, and add the other person by their phone number or email. Type in the amount and hit send. The person will get a notification that money is on the way. Most of these apps have daily limits — you might be able to send $500 to $2,000 per day, depending on the app and how long you have been using it.
These apps are best for sending money to friends, family, or people you know. They are not ideal for paying a business or landlord, because most businesses do not monitor Venmo or PayPal the way they monitor their bank account. For business payments, use ACH or a wire transfer instead.
What happens if something goes wrong
If you send money to the wrong account number by mistake, contact your bank right away. With an ACH transfer, your bank may be able to recall the transfer if it has not been processed yet — this usually works if you call within a few hours. Once the money arrives at the other bank, you will have to ask that bank to return it, which can take days or weeks.
If you sent a wire transfer to the wrong place, call your bank when ready. Wire transfers cannot be reversed, but your bank can contact the receiving bank and ask them to return the money. This is not may provide to work, especially if the receiving bank does not cooperate. This is why wire transfers require you to be extra careful with the account number.
If the transfer is taking longer than expected, log into your bank account and check the transaction history. Look for the transfer you sent and see what status it shows — "pending," "processing," or "complete." If it has been more than three business days and it still shows pending, call your bank's customer service line and give them the confirmation number from when you set up the transfer.
Fees and limits to know about
ACH transfers are free at most banks, though some banks charge a small fee if you send a very large number of transfers in one month. Wire transfers cost $15 to $30 per transfer. Mobile payment apps are free for person-to-person transfers, but some charge a fee if you want to transfer money out to your bank account when ready instead of waiting one to three days.
Banks also set daily and monthly limits on how much you can transfer. These limits vary widely — some banks let you transfer $10,000 per day, while others allow $25,000 or more. If you need to transfer more than your daily limit, you can either wait and do it over multiple days, or call your bank and ask if they can raise your limit temporarily.
Check your bank's website or call customer service to find out what your specific limits are. If you are a new customer, your limits may be lower than they will be after a few months of account activity.
Frequently Asked Questions
How long does an ACH transfer actually take?
ACH transfers take one to three business days from the time you send them. The exact timing depends on when you send it (transfers sent after business hours may not process until the next day) and how quickly the receiving bank processes incoming transfers. Weekends and bank holidays add extra days.
Can I transfer money to a bank account in another country?
ACH transfers only work between U.S. banks. For international transfers, you will need a wire transfer or a service like Wise or OFX that specializes in moving money across borders. These services often have better exchange rates than traditional wire transfers.
What if the account number I have is wrong by one digit?
The transfer will likely be rejected and the money will come back to your account within a few days. Banks use a check-digit system to catch these mistakes. If the number is wrong in a way the system does not catch, the money may go to the wrong account, which is why you should always double-check before you send.
Do I need to tell the other person's bank that money is coming?
No. The receiving bank will accept the transfer automatically as long as the account number and routing number are correct. The account holder will see the deposit in their account once it arrives, usually with a note about where it came from.
Can I cancel a transfer after I have sent it?
With ACH transfers, you may be able to cancel within a few hours if you call your bank right away. Once the transfer has been processed, it cannot be cancelled. Wire transfers cannot be cancelled at all — they are final as soon as you confirm them.