The basic steps to transfer money into savings
To transfer money into a savings account, you need three things: the account you're sending from (your source account), the account you're sending to (your savings account), and a way to move the money between them. Most transfers happen through your bank's website or app, take one to three business days, and cost nothing.
The simplest path is to use your bank's own transfer tool if both accounts are at the same bank. Log in, find the transfer or move money section, enter the amount, pick your savings account as the destination, and confirm. The money usually arrives the next business day. If your accounts are at different banks, the process takes a few more steps but works the same way.
Some people set up automatic transfers so money moves on a schedule you choose — say, $50 every payday. This removes the need to remember and can help you build savings without thinking about it.
Key Takeaways
- Transfers between your own accounts at the same bank usually take one business day and cost nothing.
- Transfers between different banks use a system called ACH and typically take three business days.
- You can set up automatic transfers to move money on a schedule, like every payday or the first of the month.
- Your bank's website or app is the fastest way to start a transfer; you can also call or visit a branch.
- The receiving account number and routing number (for different banks) are the only information you need to provide.
Transfers within the same bank
If both your checking account and your savings account are at the same bank, this is the easiest transfer you can make. Log into your online banking or mobile app, look for a section called "Transfer Money," "Move Funds," or "Transfers" — the exact name varies by bank. Select the account you want to send from and the savings account you want to send to, enter the dollar amount, and confirm.
The money usually arrives by the next business day, though some banks post it the same day if you transfer before a certain time (often 2 p.m. or 5 p.m. in your time zone). There is no fee. If you are not comfortable using the app or website, you can call your bank's customer service line or visit a branch in person and ask a teller to move the money for you.
Transfers between different banks
Moving money from an account at one bank to a savings account at a different bank uses a system called ACH (Automated Clearing House). This is a network that banks use to send money to each other. The transfer is still free, but it takes longer — usually three business days, sometimes up to five.
To set this up, you will need your savings account number and the routing number of the bank where your savings account is held. The routing number is a nine-digit code that identifies your bank. You can find it on the bottom left of a check, on your bank's website, or by calling the bank. Once you have both numbers, go to your checking account's bank website or app, start a transfer to an external account, and enter these details. The first transfer may require you to verify the account by confirming small deposits the receiving bank sends — usually two small amounts under a dollar that appear in a few days.
After that first transfer is verified, future transfers to the same savings account are faster and require only the amount and confirmation.
Setting up automatic transfers
An automatic transfer moves money on a schedule you set, without you having to do anything each time. This works whether your accounts are at the same bank or different banks. You choose the amount, the frequency (weekly, every two weeks, monthly, or a custom date), and the day it should happen.
To set this up, go to your checking account's transfer section and look for an option like "Recurring Transfer," "Scheduled Transfer," or "Automatic Transfer." Enter your savings account details, the amount, and how often you want it to happen. Most banks let you pause or cancel an automatic transfer anytime through the same section.
Automatic transfers are useful for building savings because the money leaves your checking account before you see it and think about spending it. Many people set them up for payday or the first of the month, when they know money is coming in.
What to do if a transfer fails or takes too long
If you started a transfer and it has not arrived after the expected time, log back into your account and check the transfer status. Most banks show whether a transfer is pending, completed, or failed. A pending transfer that is older than five business days is unusual and worth calling about.
A transfer can fail for a few reasons: a typo in the account or routing number, an account that is closed, or a mismatch between the name on the account and the name you provided. If your transfer failed, your bank will usually send you a notice explaining why. Correct the information and try again. If you cannot figure out what went wrong, call your bank's customer service — they can see exactly where the transfer stopped and help you fix it.
Limits on how much you can transfer
Your bank may limit how much you can transfer in a single day or in a month, especially for transfers to accounts at other banks. These limits vary widely — some banks allow thousands of dollars per day, others cap it at a few hundred. You can usually find your limit in the transfer section of your app or website, or by calling customer service.
If you need to transfer more than your daily limit, you can split it across multiple days or call your bank to ask if they can raise your limit temporarily. Some banks will do this if you have had the account for a while and have not had problems.
Transferring from a savings account to checking
The process works exactly the same way in reverse. Log in, select your savings account as the source, your checking account as the destination, enter the amount, and confirm. It takes the same amount of time — one business day for same-bank transfers, three for different banks.
One thing to know: if your savings account is a money market account or a high-yield savings account with certain restrictions, your bank may limit how many transfers you can make per month (often six). Transfers to your own checking account usually do not count against this limit, but it is worth checking your account rules to be sure.
Frequently Asked Questions
Can I transfer money on weekends or holidays?
You can start a transfer anytime through your bank's app or website, but the bank does not process it until the next business day. A transfer started on Friday evening will not move until Monday. Holidays also pause processing, so a transfer started on a Friday before a Monday holiday will not arrive until Tuesday.
What if I entered the wrong account number?
If you made a typo in the account number, the transfer will likely fail and the money will return to your checking account within a few days. Your bank will send you a notice saying the transfer failed. Check the account number and try again. If the transfer went through to the wrong account, contact your bank when ready — they may be able to recover the money, but the sooner you report it the better.
Do I need to do anything special to transfer money from a joint account?
No. If your name is on the account, you can transfer from it the same way you would from any other account you own. The money goes where you direct it. If you share the account with someone else, they may also be able to see and approve transfers depending on your bank's rules.
Is there a fee for transferring money between my own accounts?
No. Banks do not charge to move money between accounts you own at the same bank or at different banks. Some banks offer premium accounts that charge monthly fees, but the transfers themselves are free.
How do I know if my transfer went through?
Log into your checking account and look at your recent transactions — you should see the transfer listed with a status like "Pending" or "Completed." You can also check your savings account to see if the money arrived. If you set up automatic transfers, your bank usually sends a confirmation email each time one processes.