Yes, you can transfer money between banks, and you have several ways to do it

You can move money from one bank to another. The method you choose depends on how fast you need the money to arrive, whether you want to do it online or in person, and what information you have about the receiving account. Most transfers take one to three business days, though some arrive the same day or next day if both banks support faster rails.

The most common routes are ACH transfers (the standard electronic method), wire transfers (faster but more expensive), and mobile or online banking tools that let you link accounts. Each has different costs, speed, and security tradeoffs. Knowing which one fits your situation saves you money and frustration.

Key Takeaways

  • ACH transfers are free or low-cost and take one to three business days; most banks let you set them up online once you link the receiving account.
  • Wire transfers arrive the same day or next business day but cost $15 to $50 and cannot be reversed if you send to the wrong account.
  • You need the receiving bank's routing number and the account number to start most transfers; some banks also ask for the account holder's name.
  • Transfers between accounts you own at different banks are faster and simpler than transfers to someone else's account, which may require extra verification.
  • If a transfer does not arrive within the promised timeframe, contact your sending bank first—delays usually happen on their end, not the receiving bank's.

ACH transfers: the standard route for most people

An ACH transfer (Automated Clearing House) is the electronic system most banks use to move money between accounts. It is free at most banks, though some charge $1 to $3 for outgoing transfers. The money typically arrives in one to three business days, depending on when you initiate the transfer and whether both banks process it the same day.

To start an ACH transfer, log into your sending bank's website or app and look for "Transfer" or "Send Money." You will need the receiving bank's routing number (a nine-digit code unique to each bank) and the account number. Many banks let you save this information so you do not have to enter it every time. Once you submit the transfer, your bank sends it through the ACH network, which batches transfers and processes them overnight. The receiving bank then deposits the money into the account.

ACH transfers work best when you are not in a hurry. If you initiate a transfer on a Friday after business hours, it may not arrive until Tuesday or Wednesday. Some banks offer "next-business-day ACH," which costs a bit more but guarantees arrival by the next day. Check your bank's website to see if this option is available and what it costs.

Wire transfers: faster but irreversible and more expensive

A wire transfer moves money the same day or next business day and is the fastest option if you need money urgently. Banks typically charge $15 to $50 per outgoing wire, depending on whether it is domestic (within the US) or international. Unlike ACH transfers, wire transfers cannot be reversed once they leave your bank, so you must be certain of the receiving account details before you send.

To send a wire, call your bank or visit a branch—most banks do not allow wire transfers through their website or app for security reasons. You will need the receiving bank's name, routing number, account number, and the account holder's name. Some banks also ask for the receiving bank's address. Have all this information ready before you call, because the process usually takes 10 to 15 minutes and you cannot pause it halfway through.

Wire transfers are best for large amounts, time-sensitive payments, or situations where you absolutely need the money to arrive within hours. For routine transfers between your own accounts or small amounts to trusted recipients, ACH is usually the better choice because it costs nothing and the risk of error is lower.

Linking accounts through your bank's app or website

Most banks let you link external accounts directly in their mobile app or website. Once linked, you can transfer money with a few taps or clicks without entering routing and account numbers each time. The bank typically verifies the account by sending two small deposits (usually under $1 each) to the receiving account, then asking you to confirm the amounts. This process takes one to two business days.

After the account is verified, transfers usually process as ACH and take one to three business days. Some banks offer faster options—Chase, for example, offers "Chase QuickPay" for next-business-day transfers, and Bank of America offers "Next Day" transfers for a small fee. Check your bank's app to see what speed options are available and whether they cost extra.

Linking accounts is convenient if you transfer money regularly, but it does require you to trust the receiving bank with your account information. Most banks encrypt this data and do not store it in a way that lets the receiving bank initiate transfers without your permission, but read your bank's privacy policy if you are concerned.

Transfers between your own accounts at different banks

Moving money between accounts you own is simpler than sending to someone else because most banks do not require extra verification. You just need the routing number and account number of the receiving account. The transfer usually processes as a standard ACH and arrives in one to three business days.

Some banks treat transfers to your own accounts as lower-risk and process them faster. If you are moving a large amount or need it urgently, call your bank and ask if they can expedite it or offer a faster transfer method. Many will do this at no extra cost if you are moving money between your own accounts.

Keep records of the transfer—take a screenshot of the confirmation number or save the receipt. If the money does not arrive within the promised timeframe, you will need this information to file a trace with your bank.

What information you need before you start

Before you initiate any transfer, gather the following details about the receiving account:

  • The receiving bank's name
  • The receiving bank's routing number (nine digits; you can find this on the bank's website or by calling customer service)
  • The account number (usually 10 to 12 digits)
  • The account holder's name (required for some transfers, optional for others)
  • The account type (checking or savings; some banks ask this)

If you are transferring to someone else's account, double-check the account number and name. A single digit wrong in the account number can send the money to a different account at the same bank, and you may not be able to recover it. If you are unsure, call the receiving bank and ask them to confirm the account number matches the name.

What to do if a transfer does not arrive on time

If the money does not show up within the timeframe your bank promised, contact your sending bank first. Most delays happen because the sending bank has not processed the transfer yet, not because the receiving bank is holding it. Have your confirmation number ready and ask the bank to trace the transfer.

Your bank will contact the receiving bank and ask where the money is. If the transfer was sent to the wrong account, the receiving bank can sometimes recall it, but this is not may provide. If the money went to the correct account but the receiving bank has not deposited it yet, the receiving bank will process it within one to two business days.

If your bank cannot locate the transfer or it was sent to the wrong account, you may be able to file a dispute. The process and timeline vary by bank, but most require you to file within 60 days of the transfer date. Keep all documentation—confirmation numbers, screenshots, and written correspondence with the bank.

Frequently Asked Questions

Can I transfer money between banks on a weekend or holiday?

You can initiate a transfer on a weekend or holiday through your bank's app or website, but it will not process until the next business day. Both banks must be open and processing transfers for the money to move. If you send a transfer on Friday evening, it typically arrives Tuesday or Wednesday, not Monday.

Is there a limit on how much I can transfer?

Yes, most banks set daily and monthly limits on transfers. ACH transfers often have higher limits ($10,000 to $25,000 per day) than wire transfers ($5,000 to $10,000 per day), though this varies by bank. Check your bank's website or call to find out your specific limits. You can usually request a higher limit if you need to move a large amount.

What if I send money to the wrong account?

Contact your bank immediately. If the transfer has not processed yet, your bank may be able to cancel it. If it has already been sent, the receiving bank can attempt to recall it, but they are not required to do so. Wire transfers cannot be reversed, so the money may be lost. This is why double-checking the account number before you send is critical.

Do I need to tell the receiving bank I am sending money?

No, you do not need to notify the receiving bank in advance. The transfer will arrive in their account automatically. However, if you are sending a large amount or the receiving account is new, it may help to let them know so they are not surprised by the deposit and can confirm they received the correct amount.

Can I transfer money to a bank account in another country?

Yes, but international transfers work differently than domestic ones. You will need the receiving bank's SWIFT code (similar to a routing number) and the International Bank Account Number (IBAN). International transfers take longer (three to seven business days) and cost more ($25 to $75). Some banks do not offer international transfers, so check with yours first.