The fastest way depends on which banks you use and how soon you need the money there
If both accounts are at the same bank, you can transfer money between them in minutes using online banking, a mobile app, or by calling the bank. If the accounts are at different banks, the transfer takes one to three business days through the standard ACH system, or you can move it the same day using wire transfer (which costs money and is harder to reverse). The method you choose depends on speed, cost, and whether you need the money when ready.
Most people use online banking because it is free and works around the clock. You do not need to visit a branch, call anyone, or fill out forms. You log in, select the accounts, enter the amount, and confirm. The money either arrives when ready (same bank) or within one to three business days (different banks).
Key Takeaways
- Same-bank transfers happen when ready through online banking, mobile apps, or by phone, and cost nothing.
- Different-bank transfers through ACH take one to three business days and are free, but you cannot reverse them once they post.
- Wire transfers move money the same day but cost $15 to $50 and are nearly impossible to reverse if sent to the wrong account.
- You need the receiving account number and routing number for different-bank transfers, which you can find on a check or by calling the receiving bank.
- Transfers initiated after business hours or on weekends process the next business day, not when ready.
Same-bank transfers: when ready and free
If you have two accounts at the same bank, log into online banking or your mobile app, find the transfer or move money section, and select both accounts. Enter the amount you want to move and confirm. The money appears in the receiving account within minutes, usually when ready. There is no fee and no waiting period.
You can also call your bank's customer service line and ask a representative to move the money for you. This takes longer (a few minutes on the phone plus processing time) but works if you do not have online access. Some banks also let you transfer money at an ATM or in a branch, though this is slower than using the app.
Same-bank transfers are reversible if you made a mistake. If you sent money to the wrong account within the same bank, call when ready and ask the bank to reverse it. The sooner you call, the better your chances, because once the receiving account holder withdraws the money, the bank cannot get it back.
Different-bank transfers: free but slower
To move money to an account at a different bank, you need the receiving account number and the bank's routing number. You can find the routing number on the bottom left of a check from that bank, or by calling the bank and asking. Once you have both numbers, log into your bank's online banking system and look for "external transfer," "add payee," or "transfer to another bank."
Enter the receiving account number and routing number, name the payee (the person or business who owns the account), and the amount. Your bank will verify the account exists, which may take a few minutes or up to a day. Once verified, you can send the transfer. The money leaves your account within one business day and arrives at the other bank within one to three business days total. There is no fee.
Different-bank transfers use the ACH system (Automated Clearing House), which is a network that moves money between banks overnight. Transfers initiated on a weekday before your bank's cutoff time (usually 5 p.m.) process that night. Transfers initiated after hours or on weekends process the next business day. Weekends and federal holidays do not count as business days, so a Friday transfer may not arrive until Tuesday.
Once an ACH transfer posts to the receiving bank, you cannot reverse it. If you sent money to the wrong account, you have to contact that account holder and ask them to send it back. If they refuse or cannot be reached, your bank cannot recover the money. For this reason, always double-check the account number and routing number before you confirm.
Wire transfers: same-day but costly and risky
If you need money to move the same day, use a wire transfer. Wire transfers move money within hours, sometimes minutes, and work between any two banks. However, they cost $15 to $50 depending on your bank, and they are nearly impossible to reverse once sent.
To send a wire, call your bank or visit a branch. You will need the receiving account number, routing number, and the name of the account holder. The bank will ask you to confirm all details before processing. Wire transfers are final—once the money reaches the receiving bank, it is in that account and cannot be recalled. If you wire money to the wrong account by mistake, you have to contact that bank and hope they will help you recover it, but they are not required to.
Wire transfers are best used when you know the receiving account details are correct and you need the money urgently. For routine transfers between your own accounts or to people you trust, ACH transfers are safer and free.
What information you need for each type of transfer
| Transfer Type | Information Needed | Cost | Speed |
|---|---|---|---|
| Same bank | Account numbers only (you have these) | Free | when ready to minutes |
| Different bank (ACH) | Account number and routing number | Free | 1–3 business days |
| Wire transfer | Account number, routing number, account holder name | $15–$50 | Same day, usually within hours |
How to find routing numbers and account numbers
Your own account number and routing number appear on the bottom of any check you have from that account. The routing number is the first nine digits on the left, and the account number follows. You can also log into your bank's online banking system and find both numbers in the account details or settings section.
To find another bank's routing number, call that bank's customer service line and ask. You can also search online for "[bank name] routing number" and your state, which usually brings up the correct number. Make sure you have the routing number for the specific branch or location where the account is held, because some large banks have different routing numbers for different regions.
If you are unsure whether you have the right routing number, ask the account holder or call the bank directly. Sending money to the wrong routing number can delay the transfer or send it to the wrong place entirely.
What happens if a transfer goes wrong
If you sent money to the wrong account at the same bank, call your bank when ready and ask them to reverse it. Same-bank transfers can sometimes be recalled if the receiving account has not withdrawn the money yet.
If you sent an ACH transfer to the wrong account at a different bank, call your bank and report it. Your bank can file a trace, which asks the receiving bank to return the money. This process takes 10 to 20 business days and is not may provide to work. If the receiving account holder has already spent the money, the receiving bank cannot recover it.
If you sent a wire transfer to the wrong account, contact your bank when ready. Wire transfers are almost never reversible, but your bank can contact the receiving bank and ask them to return the money as a courtesy. This rarely works. For this reason, wire transfers should only be used when you are certain of the account details.
To avoid mistakes, always verify the account number and routing number with the account holder before you transfer. Ask them to confirm the numbers match their bank statements or online banking system.
Frequently Asked Questions
Can I transfer money on a weekend or holiday?
You can initiate a transfer any time through online banking or a mobile app, but it will not process until the next business day. Banks do not process ACH transfers on weekends or federal holidays. A transfer started on Friday evening may not arrive until Tuesday or Wednesday.
What if I entered the wrong account number?
For same-bank transfers, call your bank right away and ask them to reverse it. For ACH transfers to another bank, call your bank and file a trace, which takes 10 to 20 business days. For wire transfers, contact your bank when ready, though reversal is unlikely. Always verify the account number before confirming any transfer.
Do I need to set up the receiving account first?
For same-bank transfers, no—both accounts are already in your bank's system. For different-bank transfers, most banks require you to add the receiving account as a payee first, which takes a few minutes to a day for verification. Some banks verify when ready. You cannot send money to an account until it is verified.
Is there a limit to how much I can transfer?
Most banks set daily or monthly limits on ACH transfers, often $10,000 to $25,000 per day. Wire transfers usually have higher limits. Check your bank's online banking system or call to find out your specific limits. You can request a higher limit, though approval is not may provide.
Why is my transfer taking longer than expected?
ACH transfers take one to three business days. If you initiated the transfer after your bank's cutoff time (usually 5 p.m.) or on a weekend, it processes the next business day. Federal holidays also delay processing. If more than three business days have passed, call your bank and ask them to trace the transfer.