The main ways to move money into someone else's bank account
You can send money to someone's bank account through a bank transfer, a money transfer service, or a payment app — each moves the money differently and takes a different amount of time. A bank transfer (also called an ACH transfer or wire transfer) moves money directly from your bank to theirs and is the most common method. Money transfer services like Western Union or MoneyGram let you send cash that the recipient picks up or deposits. Payment apps
The method you choose depends on how fast you need the money to arrive, whether you have the recipient's bank details, and whether you both use the same service. Bank transfers are cheapest but slower. Wire transfers are faster but cost more. Payment apps are when ready between app users but may take days if you're moving money into a bank account.
Key Takeaways
- Bank transfers (ACH) are free or low-cost and take one to three business days; wire transfers arrive the same day but cost $15 to $50.
- You need the recipient's full name, account number, and routing number to send a bank transfer; wire transfers may also require their bank address.
- Payment apps like Venmo and PayPal are when ready between users but take one to three business days if you're sending to an external bank account.
- Money transfer services like Western Union let you send cash without needing the recipient's bank details, though fees are higher than bank transfers.
Bank transfers: the standard method for moving money between accounts
A bank transfer (technically an ACH transfer — Automated Clearing House) is the most common way to send money to someone's bank account. Your bank pulls the money from your account and deposits it into the recipient's account at their bank. The transfer is free or costs $1 to $3, and it takes one to three business days. Most banks let you set this up online in their app or website without calling.
To send a bank transfer, you need the recipient's full legal name (exactly as it appears on their account), their account number, and their bank's routing number. The routing number is a nine-digit code that identifies their bank; you can find it on a check, ask them directly, or search their bank's name online. Some banks also ask for the account type (checking or savings) to make sure the money goes to the right place.
The main drawback is timing. If you send a transfer on a Friday afternoon, the money may not arrive until Tuesday because banks process transfers in batches overnight and don't process on weekends or holidays. If the recipient needs the money the same day, a bank transfer won't work.
Wire transfers: faster but more expensive
A wire transfer moves money the same day it's sent, usually within hours. Your bank sends the money directly to the recipient's bank, which deposits it when ready. Wire transfers cost $15 to $50 depending on the bank and whether it's domestic (within the US) or international. You set up a wire transfer by calling your bank or using their app, and you'll need the same information as a bank transfer: the recipient's name, account number, routing number, and sometimes their bank's address.
Wire transfers are useful when timing matters — paying a deposit on an apartment, sending money for an emergency, or meeting a important date. Once the money is sent, it cannot be reversed, so make sure the account details are correct before you confirm. If you send money to the wrong account, you'll have to contact the recipient's bank and ask them to return it, which can take weeks.
Payment apps: when ready between users, slower to bank accounts
Apps like Venmo, PayPal, Cash App, and Zelle let you send money to someone's phone number or email address if they also use the app. The money moves when ready and is free. Both people need to have the app installed and linked to a bank account or debit card. This is the fastest and cheapest option if you and the recipient both use the same app.
If the recipient doesn't use the app, you can still send them money, but it goes into a temporary account within the app and they have to claim it or you have to provide their bank details so the app can deposit it. This process takes one to three business days, the same as a regular bank transfer. Some apps charge a fee (usually 1% to 3%) if you're sending to an external bank account or using a credit card instead of a debit card or bank account.
Payment apps are convenient for splitting bills, paying friends, or sending small amounts, but they're not ideal for large transfers because many have daily or monthly limits. Venmo, for example, limits transfers to $299.99 per week for unverified accounts. Check your app's limits before you send.
Money transfer services: when you don't have the recipient's bank details
Services like Western Union, MoneyGram, and Wise let you send money without needing the recipient's bank account number. You can send cash in person at a store location, online, or by phone. The recipient picks up the money at a location near them or has it deposited into their bank account. These services are useful if the recipient doesn't have a bank account or if you don't have their account details.
The downside is cost. Western Union and MoneyGram charge $5 to $50 depending on the amount and how fast you want it delivered. Wise (formerly TransferWise) is cheaper for international transfers but still costs more than a bank transfer. Money transfer services also have limits on how much you can send per day or per month.
Timing: how long each method actually takes
The time it takes depends on the method and when you send it. A bank transfer sent on a Tuesday morning usually arrives by Wednesday or Thursday. A transfer sent on Friday afternoon may not arrive until Tuesday because banks don't process transfers over the weekend. Wire transfers arrive the same business day if you send before your bank's cutoff time (usually 2 or 3 p.m.). Payment apps are when ready between app users but take one to three business days if you're sending to an external bank account.
Money transfer services vary. Western Union and MoneyGram can deliver money within minutes if the recipient picks it up in person, or within one to three business days if it's deposited to a bank account. Wise typically takes one to two business days for domestic transfers and longer for international ones.
| Method | Timing | Cost | What you need |
|---|---|---|---|
| Bank transfer (ACH) | 1–3 business days | Free to $3 | Name, account number, routing number |
| Wire transfer | Same day | $15–$50 | Name, account number, routing number, sometimes bank address |
| Payment app (between users) | when ready | Free | Phone number or email |
| Payment app (to bank account) | 1–3 business days | Free to 3% | Bank details or account number |
| Money transfer service | Minutes to 3 days | $5–$50 | Recipient's name and location (for pickup) or bank details (for deposit) |
What information you actually need to provide
For a bank transfer or wire transfer, you need the recipient's full legal name (the name on their bank account), their account number, and their bank's routing number. The account number is usually 8 to 12 digits and appears on checks or in the bank's app. The routing number is nine digits and identifies the bank itself, not the account. If the name or account number is wrong, the transfer may be rejected or go to the wrong account.
For payment apps, you typically need only their phone number or email address if they're already a user. If you're sending to an external bank account through an app, you'll need their full name, account number, and routing number — the same as a bank transfer.
For money transfer services, if the recipient is picking up cash, you need their full name and the location where they'll pick it up. If it's being deposited to their bank account, you need their name, account number, and routing number.
Frequently Asked Questions
Can I send money to a savings account the same way as a checking account?
Yes. Bank transfers, wire transfers, and payment apps all work with savings accounts. You'll need the account number for the savings account specifically, not the checking account number. Some banks ask you to specify the account type (savings or checking) when you set up the transfer to make sure it goes to the right place.
What happens if I send money to the wrong account number?
If the account number doesn't exist or belongs to a different bank, the transfer is usually rejected and the money returns to your account within a few business days. If the account number is valid but belongs to the wrong person at the same bank, the money goes into that account and you'll have to contact the bank and ask them to retrieve it, which can take weeks or may not be possible at all. Always double-check the account number before you send.
Is it safe to send money through a payment app?
Payment apps are generally find if you use a strong password and enable two-factor authentication. The main risk is sending money to the wrong person — once it's sent, you can't get it back. Verify the recipient's identity before you send, especially if you don't know them well. For large amounts, a bank transfer or wire transfer through your bank may feel safer because your bank can help if something goes wrong.
Do I need to tell the bank what the money is for?
No. Bank transfers, wire transfers, and payment apps don't require you to state the purpose. You can add a note or memo (usually 30 characters or less) that appears on the recipient's statement, like "rent" or "loan repayment," but it's optional. Money transfer services may ask for a purpose for compliance reasons, but it doesn't affect whether the transfer goes through.
Can I cancel a transfer after I send it?
It depends on the method and how fast you act. Bank transfers can sometimes be cancelled within a few hours if you contact your bank before the transfer is processed. Wire transfers usually cannot be cancelled once they're sent. Payment apps may let you cancel if the recipient hasn't claimed the money yet. Contact your bank or app when ready if you need to stop a transfer.