The fastest way depends on whether you're moving money between your own accounts or sending it to someone else

If both accounts are at the same bank, you can move money between them in minutes using online banking or your mobile app — no fees, no waiting. If the accounts are at different banks, you have several options: a wire transfer (fastest, costs $15 to $30), an ACH transfer (free, takes one to three business days), or a same-day ACH if both banks support it (free, clears the same day). The method you choose depends on how quickly you need the money and whether you want to pay a fee.

The instructions below cover the most common scenarios: moving money between your own accounts at different banks, and sending money to someone else's account. Each method has different timing and costs, and some banks offer features others don't.

Key Takeaways

  • Transfers between accounts at the same bank happen when ready and cost nothing; use your bank's online portal or app.
  • ACH transfers between different banks are free but take one to three business days; initiate them through your bank's bill pay or transfer section.
  • Wire transfers cost $15 to $30 and arrive the same day, but you cannot reverse them if you make a mistake.
  • Same-day ACH is free and arrives the same day if both banks participate; ask your bank whether it offers this service.
  • You will need the receiving account number and routing number (for ACH or wire) or just the account holder's name and account number (for some apps).

Transferring between accounts at the same bank

Log into your online banking portal or mobile app and look for a "Transfer" or "Move Money" button, usually in the main menu or under "Accounts." Select the account you want to send from and the account you want to send to, enter the amount, and confirm. The money appears in the receiving account within minutes, usually when ready.

You will not be charged a fee for this. If you have multiple accounts at the same bank — a checking account and a savings account, for example — this is the simplest and fastest way to move money between them. Some banks also let you set up recurring transfers if you move money regularly.

ACH transfers to a different bank (free, one to three days)

An ACH transfer is a free electronic transfer that moves money between banks through the Automated Clearing House network. It takes one to three business days and costs nothing. This is the most common way to send money to someone else's bank account or to move your own money between banks when you are not in a hurry.

To send an ACH transfer, log into your bank's online banking portal and find the "Transfer" or "Send Money" section. You will need the receiving account number and the receiving bank's routing number (a nine-digit code that identifies the bank). Enter the amount, review the details, and confirm. The money will arrive in one to three business days. Weekends and bank holidays add to the timeline — a transfer you send on Friday afternoon may not arrive until Tuesday.

If you are sending money to someone else, ask them for their account number and routing number. If you are moving your own money, you can find your routing number on a check, on your bank's website, or by calling the bank. Some banks let you look up another bank's routing number on their website.

Wire transfers (same day, costs $15 to $30)

A wire transfer moves money the same day and is the fastest option, but it costs $15 to $30 depending on your bank. Use a wire transfer when you need money to arrive urgently. Wire transfers are also used for large transactions like down payments on a house.

Call your bank or visit a branch to send a wire transfer — most banks do not let you do this online for security reasons. You will need the receiving account number, the receiving bank's routing number, and the name of the account holder. Double-check all details before you confirm, because wire transfers cannot be reversed if you make a mistake. If you send money to the wrong account, you will have to contact the receiving bank and ask them to return it, which may take weeks or may not happen at all.

Same-day ACH (free, arrives same day)

Some banks now offer same-day ACH, which is free like a regular ACH transfer but arrives the same day instead of one to three days. Not all banks participate yet, so you will need to check whether your bank and the receiving bank both support it. Call your bank or check their website to ask.

If both banks participate, the process is the same as a regular ACH transfer — you enter the account number, routing number, and amount through your online banking portal. The money will arrive by the end of the same business day. This is a good middle ground if you need faster service than a regular ACH but do not want to pay the wire transfer fee.

Using payment apps and digital wallets

Apps like Venmo, PayPal, Square Cash, and Zelle let you send money to another person's bank account or phone number. These apps are free for basic transfers and are often faster than going through your bank directly. However, they have daily and monthly limits on how much you can send, and the money may take one to three business days to arrive even though the app processes it when ready.

To use one of these apps, read it, link your bank account, and enter the recipient's phone number, email, or username. The app will handle the ACH transfer to their bank in the background. These apps are convenient for splitting rent or paying back a friend, but they are not suitable for large transfers or time-sensitive payments.

What information you need before you start

The information you need depends on which method you use. For an ACH transfer or wire transfer, you need the receiving account number and the receiving bank's routing number. For payment apps, you usually just need the recipient's phone number or email address. For a wire transfer, you also need the account holder's full name.

If you are moving money between your own accounts, you can find your account number and routing number on a check, in your online banking portal, or by calling your bank. If you are sending money to someone else, ask them directly. Do not rely on information from a text message or email unless you have confirmed it with the person in another way — scammers sometimes intercept payment requests and send fake account numbers.

Frequently Asked Questions

How long does a transfer between different banks actually take?

An ACH transfer takes one to three business days. If you send it on a Friday, it will not arrive until Monday or Tuesday because the clearing house does not process transfers on weekends. A wire transfer arrives the same day if you send it before your bank's cutoff time, usually 2 or 3 p.m. Same-day ACH arrives by the end of the same business day.

Can I cancel a transfer after I send it?

You can cancel an ACH transfer if you act quickly — usually within a few hours of sending it. Log into your bank's portal and look for a "Pending Transfers" section, or call your bank when ready. Wire transfers cannot be cancelled once they are sent. If you made a mistake on a wire transfer, you will have to contact the receiving bank and ask them to return the money, which is not may provide.

What if I enter the wrong account number?

If the account number does not exist or belongs to a different bank, the transfer will be rejected and the money will return to your account in one to three days. If the account number is valid but belongs to the wrong person at the correct bank, the money will arrive in that account and you will have to contact the receiving bank to ask them to return it. This is why it is important to confirm account numbers directly with the person you are sending to.

Do I get charged a fee for receiving a transfer?

No. ACH transfers and wire transfers are free to receive. The sender pays any fees. Some banks charge their customers a fee to send a wire transfer, but receiving banks do not charge the recipient.

Can I set up automatic transfers between banks?

Yes. Most banks let you set up recurring ACH transfers through their online portal. You choose the amount, frequency (weekly, monthly, etc.), and the receiving account, and the bank will send the transfer automatically on the schedule you set. This is useful if you move money regularly, like transferring savings each payday.