The main ways to send money from a bank account
You can send money from a bank account in four main ways: a wire transfer, an ACH transfer, a check, or a debit card payment. Each one works differently, costs different amounts, and takes a different amount of time. The method you choose depends on who you're sending money to, how fast it needs to arrive, and how much you want to spend on fees.
A wire transfer moves money directly from your bank to another bank account, usually within one business day. An ACH transfer (Automated Clearing House) is slower but cheaper, and moves money between bank accounts over two to three business days. A check is a written instruction to your bank to pay someone, and it takes as long as the person takes to deposit it. A debit card payment lets you pay someone directly using your card number, and the money leaves your account right away or within a day.
Key Takeaways
- Wire transfers are fastest but cost $15 to $50 and are hard to reverse if you make a mistake.
- ACH transfers are free or cost $1 to $3, take two to three business days, and are the cheapest way to send money to another person's bank account.
- You need the recipient's bank name, account number, and routing number to send a wire or ACH transfer.
- Checks are free but take the longest, because the recipient has to deposit them and the bank has to clear them.
- Debit card payments work for bills and online purchases but not for sending money directly to another person's bank account.
Wire transfers: fast but expensive and hard to reverse
A wire transfer sends money directly from your bank to another bank account, usually within one business day. Your bank takes the money out of your account right away and sends it electronically to the other bank. The receiving bank puts the money into the recipient's account. Wire transfers are the fastest way to send money, but they cost between $15 and $50 per transfer, depending on your bank.
To send a wire transfer, you need the recipient's full name, the name of their bank, their account number, and their bank's routing number. Some banks also ask for the recipient's address. You can start a wire transfer in person at a branch, by phone, or online through your bank's website or app. Your bank will ask you to confirm all the details before sending the money, because wire transfers are very hard to reverse if you make a mistake.
Wire transfers are best for large amounts of money, time-sensitive payments, or when you need to send money to someone at a different bank. They are not a good choice for small, regular payments, because the fees add up quickly.
ACH transfers: cheapest way to move money between bank accounts
An ACH transfer moves money from one bank account to another through the Automated Clearing House network. It takes two to three business days because the banks process ACH transfers in batches, not when ready. Many banks offer ACH transfers for free, and some charge $1 to $3 per transfer. Because ACH transfers are so cheap, they are the best choice for regular payments or when you are not in a hurry.
To send an ACH transfer, you need the same information as a wire transfer: the recipient's name, their bank name, their account number, and their bank's routing number. You can start an ACH transfer through your bank's website, app, or by calling the bank. Some banks let you set up recurring ACH transfers, so the same amount goes out on the same day every month without you having to do anything.
ACH transfers are safer than wire transfers because you have time to cancel them if you make a mistake. If you notice an error within a day or two, call your bank and they can usually stop the transfer before it reaches the other bank. This makes ACH transfers a good choice when you are sending money to someone for the first time.
Checks: free but slow
A check is a piece of paper that tells your bank to pay a specific amount of money to a specific person. You write the recipient's name, the amount, the date, and your signature on the check. The recipient takes the check to their bank and deposits it. The banks then clear the check, which usually takes three to five business days. Only then does the money leave your account.
Checks are free to use if your bank includes them with your account. You do not need any information about the recipient's bank account — just their name. Checks are useful for paying bills by mail, paying people who do not have a bank account, or paying someone when you want a paper record of the payment.
The main drawback of checks is that they are slow. If you need money to arrive quickly, a check is not the right choice. Checks also require you to write them by hand and mail them, which takes time. Some businesses and people no longer accept checks, so you should ask first before sending one.
Debit card payments: for bills and online shopping, not bank-to-bank transfers
A debit card payment lets you pay for something using your card number instead of cash or a check. You can use your debit card to pay bills online, buy things from stores or websites, or pay for services. The money leaves your account right away or within one business day, depending on the merchant and your bank.
Debit card payments are different from the other methods because you are not sending money directly to someone's bank account. Instead, you are paying a business or service provider for something they sold you. You cannot use a debit card to send money to a friend or family member's bank account, unless that person has set up a payment system (like PayPal or Venmo) that accepts debit cards.
Debit card payments are safe because your bank can dispute the charge if something goes wrong. If you are charged twice by mistake, or if you did not receive what you paid for, you can contact your bank and they will investigate.
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 bank account information. For checks, you only need their name. For debit card payments, you need the merchant's payment information, not the recipient's bank details.
| Method | Information needed | Cost | Speed |
|---|---|---|---|
| Wire transfer | Recipient's name, bank name, account number, routing number | $15–$50 | 1 business day |
| ACH transfer | Recipient's name, bank name, account number, routing number | Free or $1–$3 | 2–3 business days |
| Check | Recipient's name | Free | 3–5 business days |
| Debit card payment | Merchant's payment information | Varies | Same day to 1 business day |
If you do not have the recipient's routing number, you can find it on their checks, or you can ask them for it. Most banks also have a routing number lookup tool on their website. The routing number is a nine-digit code that identifies the bank.
How to find your bank's routing number and account number
Your bank's routing number is printed on the bottom left of your checks. If you do not have checks, you can find it on your bank's website, in your online banking app, or by calling the bank's customer service number. Your account number is also on your checks, printed at the bottom in the middle. You can also find it in your online banking app or by logging into your account on your bank's website.
When you give someone your routing number and account number so they can send you money, make sure you give them the correct numbers. A mistake in either number can send the money to the wrong account. If this happens, contact your bank right away and they can try to recover the money.
Frequently Asked Questions
Can I send money to someone at a different bank?
Yes. Wire transfers and ACH transfers both move money between different banks. You just need the recipient's bank name, account number, and routing number. Checks also work between different banks — the recipient can deposit a check from any bank into their account at any other bank.
What happens if I send money to the wrong account number?
The money will go to whatever account number you provided. If you catch the mistake right away, call your bank and they may be able to stop the transfer before it goes through. If the money has already arrived at the wrong account, your bank can contact the other bank and ask them to return it, but this takes time and is not always successful. Always double-check the account number before sending.
How long does it take for money to arrive?
Wire transfers usually arrive within one business day. ACH transfers take two to three business days. Checks take three to five business days after the recipient deposits them. Debit card payments usually process the same day or the next business day. Business days do not include weekends or bank holidays.
Is it safe to give someone my account number?
It is safe to give someone your account number and routing number if they need to send you money. These numbers are printed on your checks, which you may have already given to people. However, do not give out your PIN, password, or the three-digit security code on the back of your debit card.
Can I cancel a money transfer after I send it?
You can usually cancel an ACH transfer within a day or two by calling your bank. Wire transfers are much harder to cancel because the money leaves your account when ready. Once a wire transfer has been sent, your bank may not be able to get it back. This is why it is important to check all the details before sending a wire transfer.