The basic ways to move money between bank accounts

You can send money to another bank account in three main ways: a wire transfer, an ACH transfer, or a bill pay service. Each one works differently, costs different amounts, and takes a different amount of time.

Wire transfers move money the fastest — usually within hours or the same day — but they cost money and cannot be reversed once sent. ACH transfers are slower (usually one to three business days) but free or very cheap, and they work through the banking system that connects most U.S. banks. Bill pay is free through most banks and works well if you are paying a person or business that accepts checks, but it is the slowest option.

The right choice depends on how fast you need the money to arrive, whether you want to pay a fee, and what information you have about the person receiving it.

Key Takeaways

  • Wire transfers arrive the same day or next day but cost $15 to $50 and cannot be reversed, so use them only when you are certain about the recipient.
  • ACH transfers are free or cost $1 to $3, take one to three business days, and work between most U.S. bank accounts using routing and account numbers.
  • Bill pay through your bank is free and works if the recipient has a mailing address, but it takes five to ten business days because it sends a check.
  • You will need the recipient's routing number and account number for wire and ACH transfers, or their mailing address for bill pay.
  • Some banks and payment apps like Venmo, PayPal, or Cash App are faster and free for sending money to people you know, but they work differently than bank transfers.

Wire transfers: fast but permanent and costly

A wire transfer moves money directly from your bank account to another bank account, usually within the same day or by the next morning. Your bank sends the money through the Federal Reserve or a private wire network, and the receiving bank deposits it when ready.

Wire transfers cost between $15 and $50, depending on your bank. Some banks charge less for transfers within the United States and more for international transfers. Once the money leaves your account, you cannot reverse the transfer — the receiving bank has the money and you cannot get it back unless the recipient agrees to send it back.

Use a wire transfer when you need money to arrive the same day, you are certain about who is receiving it, and you have their complete banking information. Do not use wire transfer if you are unsure about the recipient or if you are sending money to someone you do not know well, because you have no protection if something goes wrong.

ACH transfers: free or cheap and reversible

An ACH transfer (Automated Clearing House) moves money between bank accounts through the banking network that connects most U.S. banks. It takes one to three business days because the transfer goes through a clearing house that processes thousands of transfers at once.

ACH transfers are free at most banks, or cost $1 to $3 if your bank charges a fee. Unlike wire transfers, you can reverse an ACH transfer within a certain window — usually one to two business days — if you made a mistake or the recipient is not who you thought they were.

To send an ACH transfer, you need the recipient's routing number (a nine-digit code that identifies their bank) and their account number. You can find these on a check, or you can ask the recipient directly. Log into your bank's website or app, select "send money" or "transfer," choose ACH transfer, enter the routing and account numbers, and the amount, then confirm.

Bill pay: free but slow, works like mailing a check

Bill pay is a service most banks offer for free. You tell your bank to send money to a person or business, and your bank prints a check and mails it to their address. The check arrives in five to ten business days, and the recipient deposits it like any other check.

Bill pay works well if you are paying a business (like a landlord or utility company) or a person whose mailing address you have. It does not work if you need the money to arrive quickly, and it does not work if the recipient does not have a mailing address or cannot deposit checks.

To use bill pay, log into your bank's website or app, find the bill pay section, enter the recipient's name and mailing address, the amount, and the date you want the check mailed. Your bank will handle the rest. There is no fee.

What information you need to send money

The information you need depends on which method you choose. For wire transfers and ACH transfers, you need the recipient's routing number and account number. The routing number identifies which bank they use. The account number identifies which account at that bank is theirs.

You can find both numbers on a check: the routing number is the first nine digits at the bottom left, and the account number is the second set of numbers. If the recipient does not have a check, they can log into their own bank account and find both numbers in the account details section, or they can call their bank and ask.

For bill pay, you only need the recipient's name and mailing address. For wire transfers, you may also need the recipient's full name and the name of their bank, depending on your bank's requirements.

Payment apps and digital wallets as an alternative

If you are sending money to someone you know — a friend, family member, or someone local — a payment app may be faster and easier than a bank transfer. Apps like Venmo, PayPal, Cash App, and Zelle let you send money directly from your phone using only the recipient's phone number, email address, or username.

Most of these transfers are free and arrive within minutes to one business day. However, these apps work differently than bank transfers: the money goes into the app's account first, and the recipient has to accept it and move it to their bank account if they want to. Some apps charge fees if you want the money to arrive when ready or if you are sending a large amount.

Payment apps are not the same as bank transfers, and they have different protections and limits. If you are sending money to pay a bill or to someone you do not know, a bank transfer is safer and more formal.

How long each method takes

Wire transfers usually arrive the same day if you send them before your bank's cutoff time (usually 2 or 3 p.m. on a business day). If you send after the cutoff, the money arrives the next business day. International wire transfers take one to three business days.

ACH transfers take one to three business days. The exact timing depends on when you send the transfer and when the receiving bank processes it. If you send an ACH transfer on a Friday evening, it may not arrive until Tuesday.

Bill pay takes five to ten business days because the check has to be printed and mailed. Some banks offer expedited bill pay for a fee, which arrives in two to three business days.

Payment apps like Venmo and Cash App usually transfer money within minutes to one business day, depending on the app and whether the recipient has already linked their bank account.

Frequently Asked Questions

What if I send money to the wrong account number?

For ACH transfers, you can usually reverse the transfer within one to two business days if you catch the mistake quickly. Contact your bank when ready and explain the error. For wire transfers, you cannot reverse the transfer, but you can contact your bank and ask them to reach out to the receiving bank and request the money back — but this is not may provide to work.

Do I need to tell the other person I am sending them money?

Yes. For wire and ACH transfers, tell them the amount and the date so they know to expect it. For bill pay, tell them a check is coming. For payment apps, the recipient usually gets a notification, but it is still good to let them know.

Can I send money internationally using these methods?

Wire transfers work internationally, but they take longer (one to three business days) and cost more ($30 to $100 or higher). ACH transfers only work between U.S. bank accounts. For international transfers, ask your bank about their options, or use a money transfer service like Western Union or OFX.

What if my bank does not offer ACH transfers?

Most banks offer ACH transfers, but if yours does not, you can use wire transfer or bill pay instead. You can also ask your bank what transfer options they do offer, or consider switching to a bank that offers ACH transfers, since they are free and reliable.

Is it safe to give someone my routing and account number?

Yes, it is safe to share your routing and account number with someone you trust who needs to send you money. These numbers are on every check you write, so they are not secret. However, do not share them with someone you do not know or trust, and do not post them online.