The fastest way depends on which banks you use and how soon you need the money there

Moving money between banks usually takes one to three business days, though some methods are faster. The method you choose depends on whether both banks are in the same network, whether you know the receiving account number, and how much control you want over the timing. Most people use either a wire transfer (fastest but costs money), an ACH transfer (free but slower), or their bank's own transfer tool (often free and medium speed).

Start by logging into the bank you're sending money from. That bank will have a "transfer" or "send money" section — the exact name varies, but it's usually in the main menu or under "Payments." From there, you'll either add the receiving bank's details or select it from a list if you've transferred there before.

Key Takeaways

  • ACH transfers are free and take one to three business days, making them the cheapest option for non-urgent moves.
  • Wire transfers move money the same day or next business day but usually cost $15 to $30 and cannot be reversed once sent.
  • You'll need the receiving bank's routing number and the account number to complete most transfers.
  • Some banks let you transfer between their own accounts when ready and free through their app or website.
  • If you're moving a large amount, call your bank first — some flag transfers over a certain size for security review.

ACH transfers: free but slower

ACH stands for Automated Clearing House, a system that moves money between banks using the federal banking network. It's free, but it takes one to three business days because the banks batch these transfers and process them at set times each day. If you send an ACH transfer on a Friday afternoon, it won't start moving until Monday.

To send an ACH transfer, log into your sending bank's website or app and look for "Transfer Money," "Send Money," or "Pay." You'll enter the receiving bank's routing number (a nine-digit code that identifies that bank) and the account number. Your bank will verify the account exists before you confirm. Once you hit send, you can't cancel it, so double-check the account number — a single wrong digit sends the money to the wrong person.

ACH transfers work best when you're not in a hurry and the amount is under $25,000. Some banks set lower limits on ACH transfers, so if you're moving a large sum, check your bank's website or call first.

Wire transfers: fast but permanent and costly

A wire transfer moves money the same business day or the next morning, depending on what time you send it and whether both banks process wires. Wire transfers usually cost $15 to $30 per transfer, and once the money leaves your account, you cannot get it back — even if you sent it to the wrong account by mistake.

To wire money, call your bank or go to a branch. You'll need the receiving bank's routing number, the account number, and the account holder's name. Your bank will ask you to confirm all these details out loud (or in writing if you're at a branch) because wires cannot be reversed. 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.

Wire transfers are worth the cost and hassle when you need money to arrive quickly — for example, to meet a closing important date on a home purchase or to pay a bill that's due today. For routine transfers between your own accounts, ACH is usually the better choice.

Same-bank transfers: often when ready and free

If both accounts are at the same bank, you can usually transfer money between them when ready through the bank's app or website, with no fee. Log in, find the transfer section, select both accounts (they'll appear in a dropdown menu), enter the amount, and confirm. The money moves right away — you'll see it in both accounts within minutes.

Some banks call this "internal transfer" or "move money between my accounts." It's the simplest and fastest option if you have accounts at the same institution. If you're opening a second account at your current bank specifically to move money between them, ask whether transfers between those accounts are free and when ready before you open the account.

Getting the routing and account numbers you need

The routing number identifies the bank itself. You can find it on the bottom left of any check from that bank, or by searching "[Bank Name] routing number" online. The bank's website usually has a page listing its routing number, though some banks have multiple routing numbers for different regions — make sure you use the one for the branch where the account is held.

The account number is unique to that specific account. You'll find it on the bottom of a check (after the routing number), in the account holder's online banking portal, or by calling the bank. Write down both numbers carefully — a single digit wrong sends the money to the wrong place.

If you're not sure which number is which, ask the account holder or call the bank. It's worth taking an extra minute to verify rather than sending money to the wrong account.

What to do if the transfer goes to the wrong account

If you notice the mistake right away, call your sending bank when ready. If the transfer hasn't processed yet (usually within a few hours for ACH, when ready for wire), the bank may be able to stop it. Once it's processed, the money is in the other account, and you'll need to contact that account's owner and ask them to send it back.

For wire transfers, call your bank and ask them to attempt a recall. The receiving bank is not required to return the money, but many will if you can prove the transfer was sent by mistake. For ACH transfers, you have more time — ACH transfers can be disputed for up to 60 days, so contact your bank and file a dispute if the money went to the wrong place.

The best protection is to verify the account number twice before you hit send. If you're sending a large amount to someone new, send a small test transfer first ($1 or $5) and ask the person to confirm they received it before you send the full amount.

Timing and limits to know

ACH transfers usually process within one to three business days, but the exact timing depends on when you send them. A transfer sent before your bank's cutoff time (usually 2 p.m. or 5 p.m.) on a business day may process the next day. Transfers sent after the cutoff or on weekends start processing the next business day.

Wire transfers sent before the receiving bank's cutoff time (usually 2 p.m. or 3 p.m.) arrive the same day. Wires sent after the cutoff arrive the next business day. Neither ACH nor wire transfers process on weekends or federal holidays.

Most banks set daily and monthly limits on how much you can transfer. These limits vary widely — some banks allow $10,000 per day, others allow $25,000 or more. If you're moving a large sum, check your bank's website or call to confirm the limit. You may be able to request a temporary increase for a one-time large transfer.

Frequently Asked Questions

Can I transfer money to someone else's account at a different bank?

Yes. You'll need their bank's routing number and their account number. You can send the money via ACH (free, one to three days) or wire transfer (faster but costs $15 to $30). Make sure you have the correct account number — a mistake sends the money to the wrong person.

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

The routing number identifies the bank itself (nine digits, found on the bottom left of checks). The account number identifies the specific account within that bank (usually 10 to 12 digits, found on the bottom of checks after the routing number). You need both to transfer money.

How long does a wire transfer actually take?

Wire transfers sent before the receiving bank's cutoff time (usually 2 p.m. or 3 p.m.) arrive the same business day. Wires sent after the cutoff or on weekends arrive the next business day. Once sent, a wire cannot be reversed, so confirm all details before you send.

Can I cancel a transfer after I send it?

For ACH transfers, you may be able to cancel within a few hours if it hasn't processed yet — call your bank when ready. For wire transfers, cancellation is almost impossible once sent. For same-bank transfers, it depends on the bank, but many cannot be reversed. Always double-check before you confirm.

Is there a limit to how much I can transfer?

Yes, most banks set daily and monthly limits. These vary by bank and account type — some allow $10,000 per day, others allow $25,000 or more. Check your bank's website or call to confirm your limit. You may be able to request a temporary increase for a one-time large transfer.