The basic ways to add money to savings
You can add money to your savings account in four main ways: transfer from your checking account, direct deposit, cash deposit at a branch or ATM, or a wire transfer. Most people use transfers from checking because they happen when ready or within one business day, and you can do them from home on your phone or computer.
The method you choose depends on where the money is coming from and how quickly you need it to arrive. If you're moving money between your own accounts at the same bank, it's usually free and when ready. If the money is coming from an employer or another person's account, the method changes — and so does the timeline.
Key Takeaways
- Transfers between your own accounts at the same bank are free and usually happen when ready or within one business day.
- Direct deposit from your employer or a government benefit goes straight into savings if you set it up in advance, and arrives on payday without any action from you.
- Cash deposits at a branch or ATM put money in when ready, but you need to be physically present with the cash and your debit card or account number.
- Wire transfers from another person's bank account take one to three business days and usually cost $15 to $30, depending on your bank.
- Mobile check deposit lets you photograph a check and send it through your bank's app, and the money arrives within one to two business days.
Moving money from your checking account
If you already have a checking account at the same bank, this is the fastest and cheapest way to add to savings. Log into your online banking, mobile app, or call the bank's customer service line. Select "transfer," choose your savings account as the destination, enter the amount, and confirm. The money appears in your savings account when ready or by the next business day, depending on the time of day you make the transfer.
Some banks let you set up automatic transfers on a schedule — for example, $50 every payday. This removes the step of remembering to transfer manually and helps you build the habit of saving. You can usually change or cancel an automatic transfer anytime through your online banking.
If your checking and savings accounts are at different banks, the transfer still works but takes longer — usually one to three business days. You'll need your savings account number and the routing number of the bank where your savings account is held. Your checking bank can provide the routing number, or you can find it on a check from your savings account.
Setting up direct deposit to savings
Direct deposit means your employer or a government program (like Social Security or unemployment benefits) sends your payment straight into your account without you having to do anything. You can direct deposit into savings instead of checking, which means the money arrives ready to save.
To set this up, you need your bank's routing number and your savings account number. Your employer's payroll department or the government program's website will ask for these details on a form — usually called a direct deposit authorization form or ACH form. Once you submit it, the money goes to your savings account on payday automatically.
If you've already set up direct deposit to checking and want to change it to savings, contact your employer's payroll department or log into the government program's website and update your account information. The change usually takes effect on the next payday, though some employers need a pay period's notice.
Depositing cash at a branch or ATM
You can walk into any branch of your bank during business hours with cash and a teller will deposit it into your savings account. Bring your debit card or account number so the teller knows which account to credit. The money is available when ready.
Many banks also have ATMs that accept cash deposits. Insert your debit card, select "deposit," choose your savings account, insert the cash, and confirm the amount. The ATM counts the bills and adds them to your account right away. Not all ATMs accept deposits — only some do — so check your bank's website or app to find one near you that does.
Cash deposits are useful if you receive money in person — from a side job, a gift, or selling something — but they require you to be at a physical location. If your bank has limited branch hours or no ATMs near you, this method may not be practical.
Photographing a check with mobile deposit
If someone gives you a check, you can deposit it without going to a branch. Open your bank's mobile app, select "deposit a check," and photograph the front and back of the check. The app sends the images to your bank, and the money arrives in your savings account within one to two business days.
Mobile check deposit is free and works from anywhere — your home, your car, anywhere you have your phone. After you photograph the check, most banks ask you to write "deposited" on the back and keep it for a few days in case there's a problem. Then you can throw it away or shred it.
Not every check can be deposited this way. Checks that are very old, damaged, or written for an unusually large amount may be rejected. If the app rejects your check, you'll need to take it to a branch in person.
Wire transfers from another person
If someone wants to send you money from their bank account, they can do a wire transfer. They go to their bank and provide your name, your bank's name, your account number, and your bank's routing number. The money moves from their account to yours in one to three business days.
Wire transfers usually cost $15 to $30, and the person sending the money typically pays the fee. This method is slower and more expensive than other options, so it's usually used for larger amounts or when the money needs to come from outside the country.
Make sure you give the person sending the money your correct account number and routing number. A mistake in these details can send the money to the wrong account, and recovering it takes time and effort.
What to do if your transfer gets stuck
Sometimes a transfer takes longer than expected. If you transferred money between accounts at the same bank and it hasn't arrived within one business day, call your bank's customer service line. They can check the status and tell you whether there's a problem.
If you set up a transfer from a different bank and it's been three business days, contact the bank where the money came from. They can trace the transfer and confirm whether it was sent correctly. Keep the confirmation number from your transfer request — you'll need it to track the money.
If a transfer fails — for example, because you entered the wrong account number — your bank will usually send the money back to the source account within a few business days. You'll receive a notice explaining why it failed.
Frequently Asked Questions
Can I deposit cash into someone else's savings account?
Yes, if you have their account number and your bank allows it. Walk into a branch with the cash and tell the teller you want to deposit it into another person's account. You'll need their full account number. Some banks charge a small fee for this, and some don't allow it at all, so call ahead to check your bank's policy.
Does it cost money to transfer from my checking to my savings?
No, transfers between your own accounts at the same bank are always free. If you're transferring from a checking account at a different bank, there may be a small fee — usually $1 to $3 — charged by one of the banks. Check your account agreement or call your bank to find out.
How long does a direct deposit take to show up?
Direct deposits arrive on the date your employer or benefit program sends them, which is usually your payday. The money may appear in your account the night before or on the day itself, depending on your bank. Some banks make direct deposits available when ready; others hold them until the next business day.
What if I don't know my routing number?
You can find your routing number on a check from your savings account — it's the first nine digits on the bottom left. You can also log into your online banking, call your bank's customer service line, or visit your bank's website. The routing number is public information and safe to share.
Can I set up automatic transfers to savings from checking?
Yes, most banks let you schedule automatic transfers on a weekly, biweekly, or monthly basis. Log into your online banking or mobile app, select "set up automatic transfer," choose the amount and frequency, and confirm. You can change or stop the transfer anytime through the same menu.