The simplest way to transfer money between banks

The easiest method is online transfer through your bank's website or app. Log into the bank you're sending money from, find the transfer or payments section, enter the receiving bank's routing number and your account number there, and authorize the transfer. Most banks move the money within one to two business days at no cost.

If you don't want to use online banking, you can call your bank and ask them to set up a transfer over the phone. A representative will ask for the same information — the receiving bank's routing number and account number — and process it for you. This takes the same one to two business days.

Both methods work because banks in the United States are connected through a system called the ACH network (Automated Clearing House). Think of it as a postal service for money between banks. Your bank sends instructions through this network, and the receiving bank pulls the money in on the other end.

Key Takeaways

  • Online transfer through your bank's website or app is free and takes one to two business days for most transfers.
  • You need the receiving bank's routing number and the account number where you want the money to go.
  • Wire transfers are faster (same day or next day) but cost money, usually $15 to $30, and are best for large amounts or urgent transfers.
  • Some banks let you transfer to another bank's ATM or use a service like Zelle or PayPal, but these have limits on how much you can send.
  • If you're moving all your money to close an account, ask your bank about a cashier's check or wire transfer so nothing gets lost.

Finding your routing number and account number

Your routing number is a nine-digit code that identifies your specific bank branch. Your account number is unique to your account at that bank. You need both to tell one bank where to send money to another bank.

The easiest place to find both is on a check from the account you're sending money to. The routing number is the first set of numbers on the bottom left, and the account number is the second set. If you don't have a check, log into the receiving bank's website or app — most banks display both numbers in the account details or settings section. You can also call the receiving bank and ask them to give you these numbers over the phone.

Make sure you have the right routing number for the right branch. Some large banks have different routing numbers for different regions. If you use the wrong one, the money may go to the wrong place or be rejected. When in doubt, call the bank and confirm.

When to use a wire transfer instead

A wire transfer is faster than an online transfer but costs money. Wire transfers usually arrive the same day or next business day, compared to one to two days for an ACH transfer. Most banks charge $15 to $30 per wire transfer.

Wire transfers make sense when you need money urgently — for example, to meet a closing important date on a house, to send money to another country, or to transfer a large amount quickly. For everyday transfers between your own accounts, the free online transfer is usually the better choice.

To send a wire transfer, call your bank or go to a branch in person. You'll need the receiving bank's routing number, the account number, and the account holder's name. Some banks require you to be present in person for large wire transfers as a security measure.

Using third-party services like Zelle or PayPal

Many banks now offer Zelle, a service that lets you send money to another person's bank account using just their email address or phone number. Zelle transfers are usually free and arrive within minutes to a few hours. However, Zelle is designed for sending money to other people, not for moving your own money between banks.

If you want to move money between your own accounts at different banks using Zelle, you can send it to yourself — but only if both banks support Zelle. Check whether both your banks are on the Zelle network before you try this route.

PayPal and similar services can also move money between banks, but they typically charge a fee (usually 1 to 2 percent of the amount) and take one to three business days. These services are most useful if you're already using them for other reasons, not as your primary way to move money between your own bank accounts.

What happens if something goes wrong

If you enter the wrong account number, the receiving bank will usually reject the transfer and send the money back to your original bank within a few business days. This is why the ACH system is safer than wire transfers — wire transfers are harder to reverse once they've been sent.

If money doesn't arrive after three business days, contact the bank you sent it from. They can look up the transfer using the date and amount and tell you where it is. Keep a record of the transfer confirmation number (your bank gives you this when you authorize the transfer) so you can reference it if you need to follow up.

If you sent money to the wrong bank by mistake, call that bank when ready and explain what happened. Some banks can stop a transfer before it clears, but this depends on timing and the bank's policies. The sooner you call, the better your chances.

Transferring money when you're closing an account

If you're closing a bank account and moving to a different bank, don't wait until the last day. Set up your transfer at least a week before you plan to close the account. This gives you time to make sure the money arrived and to catch any problems.

For large amounts or if you want to be extra safe, ask your bank for a cashier's check instead of an electronic transfer. A cashier's check is a check written by the bank itself, may provide by the bank's own funds. You can deposit it at your new bank right away, and there's no risk of it getting lost in the transfer system.

Before you close the account, make sure all automatic payments and direct deposits have been switched to your new bank. If a payment tries to go to your old account after it's closed, it will be rejected and may trigger overdraft fees or late payment penalties.

Frequently Asked Questions

How long does it take to transfer money between banks?

Most online transfers take one to two business days. Wire transfers are faster — usually same day or next business day — but cost money. Zelle transfers can arrive within minutes to a few hours if both banks support it. Weekends and holidays don't count as business days, so a transfer initiated on Friday may not arrive until Tuesday.

Can I transfer money between banks on the weekend?

You can start the transfer on the weekend through your bank's website or app, but the actual movement of money happens during business days only. A transfer you start on Saturday will process on Monday. Wire transfers started on weekends may not go through until the next business day.

Is there a limit on how much I can transfer?

Most banks don't limit how much you can transfer between your own accounts, but some have daily or monthly limits for security reasons. Check your bank's website or call to ask about limits. Wire transfers usually have higher limits than ACH transfers, but wire transfers cost money.

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

Call the receiving bank directly and ask them for their routing number. You can also search online for "[Bank Name] routing number" — most banks list it on their website. Make sure you get the routing number for the specific branch or region where the account is held, since large banks sometimes have different numbers for different locations.

Do I need the account holder's name to transfer money?

For transfers between your own accounts, you usually only need the routing number and account number. For transfers to someone else's account, most banks ask for the account holder's name as well, so the receiving bank can confirm the money is going to the right person.