The simplest way to transfer money to savings
If your checking and savings accounts are at the same bank, you can move money between them in minutes using your bank's website, mobile app, or by calling customer service. The money usually arrives when ready or within one business day. You do not need any special information beyond your account numbers, which you already have.
If your accounts are at different banks, the transfer takes longer — usually one to three business days — because the banks have to communicate through a clearing system. You will need your savings account number and the routing number of the bank where your savings account lives. Your receiving bank can give you both numbers, or you can find the routing number on a check or on the bank's website.
The method you choose depends on which banks you use and how quickly you need the money to arrive. Most people use their bank's online transfer tool because it is available 24/7 and requires no phone call or visit.
Key Takeaways
- Transfers between accounts at the same bank usually complete when ready or within one business day and require only your account numbers.
- Transfers between different banks take one to three business days and require your savings account number and the receiving bank's routing number.
- You can transfer money through your bank's website, mobile app, phone line, or in person at a branch — all methods are free.
- Set up a recurring transfer if you want to move the same amount to savings on a regular schedule, such as every payday.
Transferring between accounts at the same bank
Log into your bank's website or open the mobile app and look for a link labeled "Transfer," "Move Money," or "Between My Accounts." Click it and select your checking account as the source and your savings account as the destination. Enter the amount you want to move, review the details, and confirm. The money is usually available in your savings account within minutes.
If you prefer not to use the app or website, call your bank's customer service number — it is on the back of your debit card — and ask to speak with someone who can process a transfer. Have your account numbers ready. This method takes a few minutes longer but works just as well.
You can also visit a branch in person and ask a teller to move money from checking to savings. Bring your debit card or ID. This is the slowest option but useful if you are already at the bank or prefer to handle money in person.
Transferring to a savings account at a different bank
Before you start, gather two pieces of information: your savings account number (from your new bank's website, app, or a statement) and the routing number of the bank where your savings account is held. The routing number is a nine-digit code that identifies the bank in the clearing system. You can find it on a check from that account, on the bank's website, or by calling the bank and asking.
Log into your current bank's website or app and find the transfer tool. Look for an option to transfer to an external account or a different bank. Enter your savings account number and the routing number, then the amount. Your bank will ask you to verify the account by sending small test deposits — usually two deposits under $1 each — to the savings account. This takes one to two business days. Once the deposits arrive, you log back in, confirm the amounts, and the account is verified. After that, you can transfer money freely.
The first real transfer after verification takes one to three business days to complete. Future transfers to the same account will be faster once the bank has confirmed the connection works.
Setting up automatic transfers to savings
If you want to move the same amount to savings regularly — such as $50 every payday — you can set up a recurring transfer instead of doing it manually each time. In your bank's transfer tool, look for an option labeled "Recurring," "Scheduled," or "Automatic." Select how often you want the transfer to happen (weekly, biweekly, monthly), what day it should occur, and the amount.
Automatic transfers are useful because they remove the need to remember to save. Many people set them up to run on payday so the money moves to savings before they have a chance to spend it. You can pause or cancel a recurring transfer at any time through the same tool where you created it.
What to do if a transfer fails or takes too long
If a transfer between accounts at the same bank does not arrive within one business day, log into your account and check the transfer history to see if it shows as pending or completed. If it shows as pending, wait one more business day. If it shows as completed but the money is not in your savings account, call your bank's customer service line when ready.
If a transfer to a different bank takes longer than three business days, contact your sending bank (the one you transferred from) first. They can check whether the transfer was sent correctly. If it was sent but not received, they may be able to trace it. Keep the confirmation number from the transfer — your bank will ask for it.
Transfers rarely fail, but when they do, it is usually because a routing number was entered incorrectly or an account number did not match. Your bank can help you figure out what went wrong and resend the money if needed.
Limits on how much and how often you can transfer
Banks sometimes limit how many transfers you can make from a savings account in a month. This limit varies by bank — some allow six per month, others allow more, and some have no limit at all. The limit usually applies only to transfers out of savings, not transfers into savings, so moving money from checking to savings is not usually restricted.
There is no federal limit on how much money you can transfer in a single transaction, but your bank may have its own daily or monthly maximum. You can find this in your account agreement or by calling customer service. If you need to move a large amount, ask your bank whether you can increase your limit or whether you need to split the transfer into multiple transactions.
Fees and costs
Transferring money between your own accounts — whether at the same bank or different banks — is free. Your bank does not charge you to move your own money. Some banks charge a fee if you exceed the monthly transfer limit from savings, but the transfer itself costs nothing.
Wire transfers, which are a different service, do charge a fee (usually $15 to $30), but a standard transfer between accounts is always free. If a bank tells you there is a fee to transfer between your own accounts, that is unusual and worth questioning.
Frequently Asked Questions
Can I transfer money to someone else's savings account?
No, not directly. You can only transfer money between accounts that you own. To send money to someone else, you would use a different method such as a wire transfer, Venmo, or a check. Your bank can explain which options are available and what they cost.
What if I do not know my savings account's routing number?
Call the bank where your savings account is held and ask for the routing number. Have your account number ready. You can also find it on a check from that account (it is the first nine digits at the bottom left) or on the bank's website under account information.
Why does my transfer say pending?
Pending means the transfer has been sent but not yet received. For same-bank transfers, pending usually clears within hours. For transfers between different banks, pending can last one to three business days. If it stays pending longer than that, contact your bank.
Can I transfer money on a weekend or holiday?
You can start a transfer any time through your bank's website or app, but the money will not actually move until the next business day. Banks process transfers on business days only, so a transfer started on Friday evening will not complete until Monday.
What happens if I transfer money to the wrong account?
Contact your bank when ready and explain what happened. If the transfer has not yet completed, your bank may be able to stop it. If it has completed, your bank can try to recover the money, but success depends on whether the receiving bank cooperates. This is why verifying account numbers before transferring is important.