The three ways to send money between your own accounts or to someone else

You can move money between banks using a wire transfer, an ACH transfer, or a check. Wire transfers move money the same day but cost $15 to $50 and are harder to reverse. ACH transfers are free or cheap, take one to three business days, and work for most routine transfers. Checks are slowest—three to seven business days—but cost nothing and work when you don't have the other bank's details.

Which one you use depends on how fast you need the money to arrive, whether you're sending it to yourself or someone else, and what information you have about the receiving account. Each method moves through different banking infrastructure, which is why the timing and cost vary so much.

Key Takeaways

  • Wire transfers deliver money the same business day but cost $15 to $50 and cannot be reversed once sent.
  • ACH transfers are free or cost $1 to $3, take one to three business days, and work for most personal transfers between accounts.
  • Checks clear in three to seven business days and require no account information beyond what's printed on the check itself.
  • You initiate all three from your sending bank's website, mobile app, or by visiting a branch in person.

Wire transfers: same-day delivery at higher cost and risk

A wire transfer moves money directly from one bank to another through the Federal Reserve's wire network (for domestic transfers) or through SWIFT (for international transfers). The money leaves your account the same business day and arrives at the receiving bank by the end of that day, though the receiving person may not see it in their account until the next morning.

Wire transfers cost between $15 and $50 depending on your bank and whether the transfer is domestic or international. Once you send a wire, you cannot reverse it—the receiving bank has already received the funds. If you send it to the wrong account by mistake, you have to contact the receiving bank and ask them to return it, which they may or may not do. This makes wires risky for large amounts to accounts you have not used before.

To send a wire, you need the receiving bank's routing number, the account number, and the account holder's name. Your bank will ask you to confirm all three before processing. If you are sending money internationally, you will also need the receiving bank's SWIFT code and possibly an IBAN (International Bank Account Number).

ACH transfers: the standard route for most transfers

An ACH transfer moves money through the Automated Clearing House network, which is the backbone of most routine bank-to-bank transfers in the United States. ACH transfers take one to three business days because the clearing house batches transfers and processes them in cycles, rather than moving money when ready like a wire does.

Most banks offer ACH transfers for free, though some charge $1 to $3 for outgoing transfers. You need the same information as a wire—routing number, account number, and account holder's name—but the slower processing means ACH transfers are reversible for a short window if you catch a mistake quickly. Once the receiving bank has credited the account, reversal becomes much harder.

ACH transfers work well for routine payments: sending rent to a landlord, paying a contractor, moving money between your own accounts at different banks, or splitting a bill with a friend. They are also the method most bill-pay systems use when you set up automatic payments from your bank account.

Checks: the slowest method, useful when you lack account details

A check is a written instruction to your bank to pay money to the person or business whose name appears on it. The check clears through the Federal Reserve's check-clearing system, which takes three to seven business days depending on the distance between banks and the time of deposit. If you deposit a check on a Friday evening, it may not clear until the following Wednesday or Thursday.

Checks are free to write (you pay for the checks themselves when you order them, usually $10 to $30 per box of 100). They work when you do not have the receiving person's bank account number or routing number—you only need their name and mailing address. Checks are also useful when the receiving person prefers not to share their account details, or when you are paying a business that does not accept electronic transfers.

The downside is the wait. If you need money to arrive within a day or two, a check will not work. Also, once a check is cashed, it is cleared—you cannot reverse it the way you can dispute an ACH transfer.

How to send money from your bank's website or app

Most banks let you initiate transfers from their website or mobile app without visiting a branch. Log in, find the "Transfer" or "Send Money" section, and select whether you are transferring to another account at the same bank, to an account at a different bank, or to an external payee you have not used before.

For a transfer to a new external account, your bank will ask for the receiving bank's routing number, the account number, the account holder's name, and the account type (checking or savings). Double-check all of this information before confirming—mistakes here are the most common reason transfers go to the wrong place.

Your bank will then ask you to choose the transfer method: wire, ACH, or (if applicable) check. Select the method based on how fast you need the money and how much you want to spend. For most transfers, ACH is the default and the right choice. Wire only if the money is urgent and the amount justifies the fee.

After you confirm, the transfer is submitted. For ACH transfers, you will see a processing time of one to three business days. For wires, the money usually leaves your account within an hour and arrives the same day. For checks, your bank will mail the check, which takes a few days to arrive plus another three to seven days to clear.

What happens if money goes to the wrong account

If you send an ACH transfer to the wrong account, contact your bank when ready. ACH transfers can be reversed within a short window—usually one to two business days—if the receiving bank has not yet credited the funds. If the receiving bank has already credited the account, reversal becomes a formal dispute, and the receiving bank has to contact the account holder and ask them to return the money. This can take weeks.

If you send a wire to the wrong account, your options are much more limited. The receiving bank has already received the funds, and they are not obligated to reverse the transfer. You will have to contact the receiving bank directly, provide proof of the error, and ask them to return the money. Many banks will not do this without a court order. Wire fraud claims can take months to resolve.

For checks, if the check has not been cashed, you can stop payment by contacting your bank. Most banks charge $25 to $35 for a stop-payment order. If the check has already been cashed, you have the same options as with a wire—contact the receiving bank and ask for a reversal, which they may refuse.

Timing and daily limits

Most banks process transfers submitted before 5 p.m. Eastern Time on a business day as same-day submissions. Transfers submitted after 5 p.m. or on weekends and holidays are queued for the next business day. Wire transfers submitted in the morning usually arrive the same day; those submitted in the afternoon may arrive the next day.

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 $100,000 or more. If you need to transfer more than your limit, contact your bank and ask them to raise it temporarily. This usually takes a phone call and takes effect within a few hours.

ACH transfers also have limits set by the clearing house, though these are much higher than individual bank limits. Most personal transfers are well below these limits.

Frequently Asked Questions

Can I send money to someone at a different bank without knowing their account number?

Not with a wire or ACH transfer—both require the account number and routing number. A check is your only option if you do not have this information. You can also ask the receiving person for their account details, which most people are comfortable sharing for a legitimate transfer.

How long does it actually take for money to show up in the receiving account?

For wires, usually the same business day—often within an hour. For ACH, one to three business days depending on the banks involved. For checks, three to seven business days from the time of deposit. The receiving bank may hold the funds for an extra day or two if the account is new or the amount is large.

What if I send money to the wrong person by accident?

Contact your bank when ready. For ACH transfers, you have a narrow window—usually one to two business days—to reverse the transfer before it becomes permanent. For wires and checks, reversal is much harder and may require the receiving bank's cooperation, which is not may provide.

Is there a way to send money faster than a wire transfer?

Not through traditional banking. Wire transfers are the fastest method available through your bank. Some third-party services like PayPal, Venmo, or Square Cash move money faster for smaller amounts, but these are separate from your bank account and have their own limits and fees.

Do I have to go to the bank in person to send money?

No. Most banks let you initiate transfers online or through their mobile app. You only need to visit a branch if your bank does not offer online transfers, or if you want to send a very large amount and the bank requires in-person verification.