The fastest way is usually your bank's own transfer tool

Most banks let you move money between your own accounts through their website or app without leaving their system. Log in, find the transfer or move money section, select the account you're sending from and the account you're sending to, enter the amount, and confirm. The money usually arrives the same day or next business day, depending on whether both accounts are at the same bank.

If both accounts are at the same institution, the transfer is internal and moves almost when ready—sometimes within minutes during business hours. If you're moving money to an account at a different bank, the transfer goes through the ACH network (Automated Clearing House), which takes one to two business days. Weekends and federal holidays don't count as business days, so a transfer you start on Friday afternoon won't land until Tuesday.

You'll need the receiving account number and routing number of the other bank. The routing number is a nine-digit code that identifies the bank itself; your bank can tell you this number, or you can find it on a check or by calling the other bank's customer service line.

Key Takeaways

  • Transfers between accounts at the same bank usually complete within hours; transfers to a different bank take one to two business days through the ACH network.
  • You need the receiving account number and the receiving bank's routing number to set up a transfer to another institution.
  • Wire transfers move money faster (same day or next day) but cost money and are harder to reverse if you make a mistake.
  • Some banks let you add another bank's account as a "linked account" in their app, which simplifies future transfers and reduces typing errors.
  • If a transfer doesn't arrive when expected, contact your sending bank first—they can see where the money is in the system.

Setting up a transfer through your bank's website or app

Open your bank's website or mobile app and log in. Look for a section labeled "Transfer," "Move Money," "Send Money," or "Pay." Some banks put this under an account menu; others make it a main navigation button. Click or tap it.

You'll see a form asking you to choose the account you're sending from (your source account) and the account you're sending to (your destination account). If the destination account is at the same bank, it will appear in a dropdown list. If it's at another bank, you'll need to add it first—most banks have an option like "Add External Account" or "Link New Account." You'll enter the receiving account number, the receiving bank's routing number, and usually the account holder's name.

After you've selected or added the destination account, enter the dollar amount and a description if you want one (for example, "rent payment" or "savings transfer"). Review the details carefully—especially the account number and amount—then confirm. Most banks will send you a confirmation number and an email receipt.

When to use a wire transfer instead

A wire transfer moves money faster than an ACH transfer but costs money and is much harder to reverse. Wire transfers typically arrive the same business day or the next business day, depending on what time you send them and whether the receiving bank processes them when ready. They work through SWIFT (for international transfers) or the Federal Reserve's wire system (for domestic transfers).

Wire transfers cost between $15 and $50 depending on your bank and whether the transfer is domestic or international. Use a wire transfer when you need money to arrive urgently—for example, to meet a closing important date on a house purchase or to send money to someone in another country. Do not use a wire transfer for routine transfers between your own accounts, because you're paying for speed you don't need.

To send a wire transfer, call your bank or use their website if they offer it online. You'll need the receiving bank's name, address, and routing number, plus the receiving account number and account holder's name. Double-check all of this information before you confirm, because wire transfers are nearly impossible to reverse once they leave your bank.

Linking accounts to make future transfers easier

Most banks let you save another bank's account as a "linked account" or "external account" in your profile. Once you've linked an account, you don't have to re-enter the routing number and account number every time you want to transfer money. You just select the linked account from a dropdown list.

The first time you link an account, the bank usually verifies it by sending two small deposits (usually under $1 each) to that account. The account holder at the receiving bank will see these deposits and report back the amounts. You then enter those amounts into your sending bank's website to confirm you control the receiving account. This verification takes a few business days but only happens once per account.

After the account is verified and linked, transfers to that account work the same way as any other ACH transfer—one to two business days. Linking is worth doing if you transfer to the same account regularly, because it cuts down on typing and reduces the chance of entering a wrong number.

What to do if a transfer doesn't arrive on time

If you sent a transfer and it hasn't arrived by the time you expected, contact your sending bank first. They can look up the transaction in their system and tell you whether the money has left your account, whether it's in transit, or whether there was a problem that stopped it from going through.

Common reasons a transfer gets delayed or rejected: the receiving account number or routing number was wrong, the receiving account was closed, the receiving bank flagged the transfer as suspicious, or the amount exceeded a limit your bank set on external transfers. If the routing number or account number was wrong, your sending bank may be able to recall the transfer before it reaches the other bank. If the money did reach the other bank but went to the wrong account, you'll need to contact that bank and ask them to reverse it—which is slower and less certain.

If your bank says the transfer went through but the receiving bank says they never got it, ask your sending bank for a trace number. This is a reference code that tracks the transfer through the ACH network. Give this number to the receiving bank so they can search their records for the incoming transfer.

Limits on how much you can transfer

Most banks set daily and monthly limits on how much you can transfer to external accounts (accounts at other banks). These limits vary widely by bank and account type. A typical daily limit might be $2,500 or $5,000, and a typical monthly limit might be $25,000, but some banks allow much more and some allow less.

Transfers between your own accounts at the same bank usually have higher limits or no limit at all. If you need to transfer more than your bank's limit allows, you can ask your bank to raise the limit, though they may require you to call rather than request it online. Some banks will raise limits temporarily for a single large transfer; others require you to wait a few days after requesting a limit increase.

If you're moving a large amount of money, contact your bank before you try to transfer it. They can tell you what your current limit is and whether they can increase it for your transfer.

International transfers and currency exchange

If you're sending money to a bank account in another country, you'll use a wire transfer, not an ACH transfer. International wire transfers take longer (usually two to five business days), cost more ($30 to $75 or higher), and involve currency exchange if the receiving account is in a different currency.

When you send an international wire, you'll need the receiving bank's SWIFT code (a code that identifies banks in the international system), the receiving account number, and the account holder's name and address. Some banks also ask for an IBAN (International Bank Account Number), which is used in Europe and some other regions.

The exchange rate your bank uses for currency conversion is usually not the same as the mid-market rate you see online. Banks add a markup to the exchange rate, which means you get fewer foreign currency units for your dollars than you would at the true market rate. If you're sending a large amount internationally, compare your bank's exchange rate to the rates offered by specialized money transfer services, which sometimes offer better rates for large transfers.

Frequently Asked Questions

How long does it actually take for money to show up in the other account?

Same-bank transfers usually arrive within hours, often within minutes. Transfers to another bank take one to two business days through the ACH system. Wire transfers take one business day domestically, two to five business days internationally. The clock starts when your bank processes the transfer, which may not be the exact moment you hit confirm—transfers sent after 5 p.m. or on weekends may not process until the next business day.

What happens if I enter the wrong account number?

If the account number doesn't match any account at the receiving bank, the transfer will be rejected and the money will come back to your account within a few business days. If the account number matches an account but belongs to the wrong person, the money will land in that account and you'll have to contact that bank to ask them to reverse it—which is slow and uncertain. Always double-check the account number before you confirm.

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

If the transfer hasn't left your bank yet, you may be able to cancel it by contacting your bank when ready—usually by phone, since online cancellations take time. Once the transfer has left your bank and entered the ACH network, you can't cancel it, but you can ask your bank to attempt a recall. If the money has already landed in the receiving account, you'll need to contact that bank and ask them to reverse it, which they may or may not do.

Do I pay a fee to transfer money between my own accounts?

Most banks don't charge a fee for transfers between your own accounts, whether they're at the same bank or different banks. Some banks charge a small fee (usually $1 to $3) for external transfers to accounts that aren't yours. Wire transfers always cost money. Check your bank's fee schedule or ask customer service about fees before you transfer.

What's the difference between a routing number and an account number?

The routing number identifies the bank itself—it's the same for all accounts at that bank. The account number identifies your specific account within that bank. You need both to transfer money to another bank. You can find the routing number on a check, by calling the bank, or by searching the bank's name on the Federal Reserve's routing number database.