The most direct route is a transfer from your own bank account

If you have a checking account at the same bank where you hold the savings account, you can move money between them in minutes using your bank's website, app, or by calling. The bank moves the funds when ready or within one business day, depending on whether you initiate the transfer during business hours. You will need the account number of the savings account you are sending to, though your bank already has this on file if both accounts are in your name.

If the savings account is at a different bank, the transfer takes longer. You can still do it through your own bank's website by providing the receiving bank's routing number and the account number. This is called an ACH transfer (Automated Clearing House), and it typically takes one to three business days. There is usually no fee for sending money this way, though some banks charge a small amount if you exceed a certain number of transfers per month.

Key Takeaways

  • Transfers between accounts at the same bank happen within one business day and usually cost nothing.
  • ACH transfers to a different bank take one to three business days and are free at most institutions.
  • Wire transfers move money the same day but cost $15 to $50 and are meant for urgent or large amounts.
  • You need the receiving account number and, for transfers between banks, the routing number of the receiving bank.
  • Third-party payment apps like Venmo or PayPal can send money to a savings account if the recipient has linked one, but the money lands in their account, not directly into savings.

Sending money from another person's account to your savings account

If someone else wants to send you money, they can do so through their own bank using the same ACH method. They will need your account number and your bank's routing number. You can find both on a blank check, or by calling your bank or logging into your account online. Give them only these two pieces of information—not your PIN, password, or Social Security number.

The sender's bank will ask for your name as it appears on the account. The name does not have to match exactly, but it should be close enough that the receiving bank can match it to the right account. If the name is very different, the transfer may be delayed while the bank confirms the account is yours.

Wire transfers for same-day delivery

A wire transfer moves money the same business day, usually within hours. You initiate it at your bank in person, by phone, or sometimes online. The bank will ask for the receiving bank's name, routing number, the account number, and the recipient's name. Wire transfers cost between $15 and $50 depending on your bank and whether the money is going to a domestic or international account.

Wire transfers are final once sent—the receiving bank cannot reverse them if there is an error. For this reason, banks require you to confirm all details before processing. Use wire transfers only when you need the money to arrive the same day or when ACH is not an option. For routine savings transfers, ACH is cheaper and fast enough.

Using payment apps to move money to savings

Apps like Venmo, PayPal, Square Cash, and Zelle let you send money to another person's phone number or email address. If the recipient has linked a savings account to their app profile, the money can land there. However, the app does not send money directly to the savings account—it sends it to the recipient, who then controls where it goes. Some apps let you choose the destination account when you send, while others deposit to a default account first.

Payment apps are useful for splitting bills or sending money to friends, but they are slower than direct bank transfers for moving your own money between accounts. Most apps take one to three business days to move money out, the same as ACH. If you are sending to yourself, use your bank's transfer feature instead.

Timing and what "business day" means

Banks process transfers on business days only—Monday through Friday, excluding federal holidays. If you send money on a Friday evening, it will not move until Monday. If Monday is a holiday, it waits until Tuesday. This is why a transfer initiated on a Thursday might not arrive until the following Monday.

Some banks offer next-day ACH, which guarantees the money arrives by the next business day. Standard ACH can take up to three business days, though most transfers arrive within one. Wire transfers process on the same business day if sent before the bank's cutoff time, usually 2 or 3 p.m. Call your bank to confirm the cutoff if you need same-day delivery.

What information you need before you send

For transfers between your own accounts at the same bank, you need only the account number of the receiving savings account. For transfers to a different bank, you also need the receiving bank's routing number. For wire transfers, you need the receiving bank's name, routing number, account number, and the recipient's full name as it appears on the account.

Do not send money based on verbal instructions alone. Write down the account and routing numbers, and confirm them with the recipient or their bank before initiating the transfer. A single digit wrong in the account number can send your money to the wrong person, and recovering it can take weeks or be impossible.

Fees and limits on transfers

Most banks do not charge for ACH transfers between accounts you own, or for receiving money via ACH. Some banks limit the number of transfers you can make from a savings account per month—historically six, though this limit has become less common. Exceeding the limit may result in a fee of $5 to $10 per extra transfer, or the bank may convert the account to a checking account.

Wire transfers always cost money—typically $15 to $50 for domestic transfers and more for international ones. Payment apps may charge a fee if you use a credit card to fund the transfer, but sending from a linked bank account is usually free. Check your bank's fee schedule or ask before sending a large amount.

Frequently Asked Questions

Can I send money to a savings account at a bank where I do not have an account?

Yes. You can send money from your bank to any savings account at any other bank using ACH. You need the account number and routing number of the receiving account, and the recipient's name. The receiving bank will deposit the money even if you have no relationship with that bank.

What happens if I send money to the wrong account number?

The money will go to whatever account matches that number at the receiving bank. If the number belongs to someone else, recovering the funds is difficult and may require the receiving bank to contact the account holder and ask them to return it. Always confirm the account number with the recipient before sending.

How do I know if my transfer went through?

Log into your bank account online or through the app and check your transaction history. You will see the transfer listed with a status—pending, processing, or completed. You can also call your bank or visit a branch. The receiving bank will show the deposit in their account once it arrives.

Can I cancel a transfer after I send it?

For ACH transfers, you may be able to cancel within a few hours if the transfer has not yet been processed. Contact your bank when ready if you need to stop it. Wire transfers cannot be cancelled once sent. This is why it is important to confirm all details before initiating a wire.

Is there a limit to how much money I can send?

Banks do not typically limit the dollar amount of a single ACH or wire transfer, but they may flag unusually large transfers for fraud review, which can delay processing. Some banks set daily or monthly limits on transfers initiated online—you can usually increase these by calling or visiting in person. Wire transfers have no standard limit but may require additional verification for very large amounts.