Yes, you can deposit money from another bank into your account

You can move money from an account at one bank into an account at another bank. The money does not have to stay where it started. The process depends on which bank you are sending money from, which bank you are sending it to, and how fast you need it to arrive.

Most transfers between banks take one to three business days. Some routes are faster — same-day transfers exist but usually cost extra or require both banks to be part of the same network. Some routes are slower — mailed checks can take a week or more. The method you choose affects both the speed and whether there are any fees involved.

Key Takeaways

  • ACH transfers are the standard free method and take one to three business days to complete.
  • Wire transfers move money the same day but typically cost $15 to $30 and are harder to reverse if something goes wrong.
  • You can initiate a transfer from either the sending bank or the receiving bank, depending on which one you log into.
  • Some banks offer real-time transfers through networks like RTP or FedNow, which move money in minutes but are not yet available everywhere.
  • Checks and ATM deposits work but are slower and require physical handling of the money.

ACH transfers: the standard free method

ACH stands for Automated Clearing House. It is the system that most banks use to move money between accounts at different institutions. When you initiate an ACH transfer, your bank sends an electronic instruction to the other bank, which processes it and deposits the funds into the receiving account.

ACH transfers are free at most banks. They take one to three business days because the clearing house processes transfers in batches, usually once per day. If you initiate a transfer on a Friday afternoon, it may not arrive until Tuesday, since the clearing house does not process on weekends or federal holidays.

You can start an ACH transfer from either bank. Log into the sending bank's website or app and look for "send money" or "transfer funds" — you will need the receiving account number and routing number. Alternatively, log into the receiving bank and look for "receive transfer" or "add external account" — you will provide the sending account details, and the receiving bank will pull the money.

Wire transfers: same-day but irreversible

A wire transfer moves money the same business day, usually within hours. Your bank sends an electronic message directly to the receiving bank with instructions to deposit the funds when ready. Wire transfers are faster than ACH because they do not go through the clearing house batch process.

Wire transfers cost money. Most banks charge $15 to $30 per outgoing wire. Some banks charge a fee to receive a wire as well, though this is less common. Because wire transfers are fast and hard to reverse, they are often used for large purchases or time-sensitive payments, but the cost makes them impractical for routine transfers.

To send a wire, contact your bank directly — by phone, in person, or through their website. You will need the receiving bank's name, the receiving account number, and the receiving account holder's name. Some banks require you to come in person or call to authorize a wire, especially for large amounts, because once the money leaves your account it is extremely difficult to get back if you made a mistake.

Real-time transfers: minutes instead of days

Some banks now offer transfers that arrive in minutes rather than hours or days. These use networks like RTP (Real-Time Payments) or FedNow, which are newer systems that process transfers when ready. If both your sending bank and receiving bank are part of the same network, you can send money and have it arrive almost when ready.

Real-time transfers are usually free, though some banks may charge a small fee for expedited service. The catch is that not all banks participate yet. Check your bank's website or call to ask whether they offer real-time transfers and which networks they use. If your bank does not participate, you will need to use ACH or wire transfer instead.

Checks and ATM deposits: slower physical methods

You can deposit a check from another bank by mailing it, depositing it at an ATM, or handing it to a teller. Mobile check deposit — taking a photo of the check through your bank's app — is available at most banks and usually processes within one business day.

Mailed checks take five to seven business days because they have to physically travel to the bank, be processed, and clear. ATM deposits at your bank's ATM are usually available the next business day. Deposits at a teller window may be available the same day, depending on the time you deposit and your bank's policy.

Checks are useful if you receive a paper check from someone else, but they are not a practical way to move your own money between your accounts. They are slow, require physical handling, and introduce the risk that the check gets lost in the mail.

What information you need to provide

To transfer money from another bank, you will need the receiving account's routing number and account number. The routing number is a nine-digit code that identifies the bank. The account number is unique to that specific account.

You can find both numbers on a check from the receiving account — the routing number is the first nine digits at the bottom left, and the account number follows it. You can also call the receiving bank or log into that account online to find the numbers. Some banks display them prominently on the account details page.

For wire transfers, you will also need the receiving bank's name and the account holder's full name, exactly as it appears on the account. Providing incorrect information can cause the transfer to be rejected or delayed.

Timing and when transfers fail

ACH transfers process on business days only. If you initiate a transfer after your bank's cutoff time (usually 5 p.m. or later), it will not process until the next business day. Transfers initiated on weekends or federal holidays will not process until the next business day after that.

Transfers can fail if the account number is wrong, the account is closed, or the receiving bank rejects the transfer for other reasons. When a transfer fails, the money returns to your sending account, usually within one to three business days. Your bank will notify you of the failure, often by email or through your account.

If a transfer is rejected, check the account number and routing number again before trying once more. If the account has been closed, you will need to contact the account holder to get a new account number at a different bank.

Frequently Asked Questions

How long does it take to transfer money between banks?

ACH transfers take one to three business days. Wire transfers take the same business day, usually within hours. Real-time transfers through RTP or FedNow take minutes, but not all banks offer them yet. Checks take one to seven business days depending on how you deposit them.

Do I have to pay a fee to transfer money between banks?

ACH transfers are free at most banks. Wire transfers cost $15 to $30. Real-time transfers are usually free. Checks are free to deposit but cost money to order if you need them. Some banks charge fees for receiving wire transfers, though this is uncommon.

What if I enter the wrong account number?

The transfer will likely be rejected by the receiving bank, and the money will return to your account within one to three business days. If the account number matches an account at that bank but belongs to someone else, the receiving bank may accept it — in that case, contact your bank when ready to report the error and request a reversal.

Can I cancel a transfer after I send it?

With ACH transfers, you may be able to cancel within a few hours if you contact your bank before it processes. Once it processes, cancellation is difficult. With wire transfers, cancellation is almost impossible — contact your bank when ready if you need to try. Real-time transfers cannot be cancelled once they complete.

Do both banks have to be in the same country?

Domestic transfers between U.S. banks use ACH, wire, or real-time networks. International transfers require a wire or international ACH, which take longer and cost more. If you are sending money to a bank outside the United States, contact your bank for options and fees.