The fastest way depends on which banks you use

If both accounts are at the same bank, you can move money between them in minutes through your bank's website or app—usually under a "Transfer" or "Move Money" button. If the accounts are at different banks, the speed depends on the method: ACH transfers (the standard route) take one to three business days, while wire transfers arrive the same day but cost $15 to $50. Real-time payment systems like FedNow and RTP (Real-Time Payments) can move money in seconds, but not all banks offer them yet.

The account you're sending from must be a checking or savings account you own. You'll need the receiving account number and routing number (or the bank's name and account holder name, depending on the method). Most transfers happen automatically once you set them up, though some banks require you to confirm the first transfer to a new recipient.

Key Takeaways

  • Same-bank transfers move instantly through your bank's app or website; different-bank transfers take one to three business days via ACH or the same day via wire.
  • You need the receiving account number and routing number, or the recipient's name and bank name, depending on which transfer method you choose.
  • ACH transfers are free; wire transfers cost money and are irreversible once sent, so confirm the account details before you initiate.
  • Some banks let you set up recurring transfers for bills or savings, and most require you to confirm the first transfer to a new recipient account.
  • If a transfer doesn't arrive on time, contact your sending bank first—they can trace it and tell you where it is in the system.

Same-bank transfers: instant and free

Moving money between two accounts at the same bank is the simplest route. Log into your bank's website or mobile app, find the "Transfer" or "Move Money" section, select the sending account and the receiving account, enter the amount, and confirm. The money appears in the receiving account within minutes, usually instantly.

You don't need routing numbers or account numbers—the bank already knows both accounts belong to you. If you haven't transferred between these two accounts before, the bank may ask you to confirm the transfer through a text message, email, or a code sent to your phone. After the first transfer, most banks remember the recipient and let you transfer again without extra steps.

ACH transfers to a different bank: one to three business days

ACH stands for Automated Clearing House, and it's the standard way to move money between banks online. The transfer is free, but it takes time: one to three business days is typical, though some banks promise next-business-day delivery. Weekends and bank holidays don't count as business days, so a transfer you start on Friday afternoon may not arrive until Tuesday.

To set up an ACH transfer, log into your sending bank's website or app and look for "Transfer," "Send Money," or "Pay." You'll enter the receiving bank's name and the account number, or the receiving bank's routing number and account number. Some banks ask for the account holder's name as well. After you confirm, the sending bank sends the transfer request to the ACH network, which batches transfers and processes them on a set schedule—usually once or twice per day.

The receiving bank then deposits the money into the account. Until the transfer arrives, the money is still in your sending account. If you cancel before the ACH network processes it (usually within a few hours), the transfer won't go through. Once it's in the ACH system, you can't cancel it; you'd have to ask the receiving bank to send it back.

Wire transfers: same day, but permanent and costly

A wire transfer moves money the same business day, usually within hours. The sending bank deducts the money immediately and sends it directly to the receiving bank. Wire transfers cost $15 to $50 depending on the bank, and they are irreversible—once the receiving bank accepts the money, you cannot get it back unless the recipient agrees to send it back.

To send a wire, call your bank or visit a branch; most banks don't allow wires through their website or app for security reasons. You'll need the receiving bank's name, the receiving account number, and the receiving account holder's name. The bank may also ask for the receiving bank's routing number or SWIFT code (if it's an international wire). Double-check all details before you confirm, because a wire sent to the wrong account is extremely difficult to recover.

Wire transfers are best for large amounts, time-sensitive payments, or situations where you need the money to arrive the same day. For routine transfers between your own accounts or regular bills, ACH is cheaper and fast enough.

Real-time payment systems: seconds, but limited availability

FedNow and RTP (Real-Time Payments) are newer systems that move money in seconds, 24 hours a day, including weekends and holidays. Not all banks offer them yet. If both your sending bank and receiving bank support real-time payments, you can choose that option when you set up the transfer. The money arrives almost instantly, and you get confirmation right away.

Real-time payments are free and work like ACH transfers—you enter the receiving account number and routing number. The main difference is speed. Check your bank's website or app to see if real-time payments are available for your accounts. If they are, they'll usually be the default option or clearly labeled as "instant" or "real-time."

Setting up recurring transfers and managing recipients

Most banks let you set up a recurring transfer—a transfer that repeats on a schedule you choose, such as weekly, monthly, or on a specific date. This is useful for moving money to savings, paying a loan, or splitting income between accounts. Log into your bank's transfer section, select "Recurring" or "Scheduled," and enter the amount, frequency, and start date. The bank will process the transfer automatically on that schedule until you cancel it.

The first time you transfer to a new recipient account, many banks require you to confirm the transfer—usually by clicking a link in an email, entering a code sent to your phone, or approving it in the app. This is a security step to prevent fraud. After you confirm, the recipient is saved in your account, and future transfers to that recipient don't require confirmation.

If you need to change or cancel a recurring transfer, log back into your bank's transfer section and edit or delete it. Changes take effect on the next scheduled transfer date. If you cancel a transfer that's already in progress, contact your bank immediately—they may be able to stop it before it processes.

What to do if a transfer is late or doesn't arrive

If an ACH transfer doesn't arrive within the expected timeframe, contact your sending bank first. They can look up the transfer in the ACH system and tell you whether it's still pending, whether it was rejected, or whether it was delivered to the receiving bank. If the receiving bank received it but didn't deposit it, the receiving bank is responsible for crediting your account.

If a transfer was rejected, the sending bank will tell you why—common reasons include a wrong account number, a closed account, or a mismatch between the account number and account holder name. The money returns to your sending account, usually within one to three business days. You can then correct the information and try again.

If a wire transfer doesn't arrive, contact your sending bank immediately. Wires are harder to trace once they leave your bank, but your bank can work with the receiving bank to locate the money. If the wire was sent to the wrong account, recovery is difficult and may require legal action. This is why confirming all details before sending a wire is critical.

Frequently Asked Questions

Can I transfer money to someone else's bank account?

Yes, but the receiving account must be in the recipient's name. You can't transfer money to an account that doesn't belong to the person you're sending it to. If you're paying someone, they'll give you their account number and routing number, and you enter those details into your bank's transfer form.

What's the difference between a routing number and an account number?

A routing number identifies the bank; an account number identifies your specific account at that bank. Both are needed for ACH transfers between different banks. Your bank's routing number is usually printed on the bottom left of your checks, or you can find it on your bank's website. Your account number is printed on your checks and statements.

Do I pay a fee for ACH transfers?

No, ACH transfers are free. Wire transfers cost $15 to $50. Same-bank transfers are free. Real-time payments are free. Some banks charge a fee if you exceed a certain number of transfers per month, but most don't limit transfers between your own accounts.

Can I cancel a transfer after I've sent it?

For ACH transfers, you may be able to cancel within a few hours before the ACH network processes it. Contact your bank immediately if you need to cancel. For wire transfers, cancellation is nearly impossible once the receiving bank accepts the money. For same-bank transfers, cancellation depends on whether the money has already moved to the receiving account.

What if I enter the wrong account number?

If the account number doesn't exist or doesn't match the account holder's name, the transfer is usually rejected and the money returns to your account within one to three business days. If the account number belongs to a real account but the wrong person, the receiving bank may deposit the money anyway. Contact your sending bank immediately to report the error and ask them to attempt recovery from the receiving bank.