The fastest way depends on where the money is now

If the money is already in another account at the same bank, you can move it to your checking account through your bank's website or app in minutes—usually instantly. If it's at a different bank, the transfer takes one to three business days and goes through the ACH system (Automated Clearing House), which is the standard network for moving money between banks. If you need the money today and it's at another bank, you'll need to use a wire transfer, which costs money but arrives the same day.

The method you choose depends on three things: which bank holds the money, how fast you need it, and whether you want to pay a fee. Most transfers between different banks are free if you're willing to wait a business day or two. Wire transfers and some third-party services cost $15 to $30 but move money the same day.

Key Takeaways

  • Transfers between accounts at the same bank happen instantly through your bank's app or website and cost nothing.
  • ACH transfers between different banks take one to three business days, are free, and are the standard method for moving money between banks.
  • Wire transfers cost $15 to $30 but move money the same day if you need it urgently.
  • You'll need the receiving bank's routing number and your checking account number to start any transfer from another bank.
  • Peer-to-peer apps like Venmo, PayPal, and Cash App can move money to a checking account, but the money goes to the app first and then you transfer it out, adding an extra step.

Transfers within the same bank (instant)

If both accounts are at the same bank, log into your online banking or mobile app, find the transfer option, and select the account you want to move money from and the account you want to move it to. Enter the amount and confirm. The money appears in your checking account within minutes, usually instantly.

This works for savings accounts, money market accounts, and other deposit accounts at the same institution. You don't need any account numbers or routing numbers beyond what the bank already has on file. There is no fee, and you can do it at any time—the transfer will process immediately or on the next business day depending on when you initiate it.

ACH transfers from another bank (one to three business days, free)

An ACH transfer is the standard way to move money between different banks. The money goes through the Federal Reserve's ACH network, which processes transfers in batches. Most banks initiate ACH transfers once or twice per day, so the exact timing depends on when you submit the request and when your bank processes it.

To start an ACH transfer, you'll need the routing number of the bank where the money is now and your checking account number at that bank. Log into your checking account's bank website or app, find the transfer or "move money" section, and select "transfer from another bank" or "external transfer." Enter the routing number, account number, and amount. The receiving bank (where your checking account is) will usually verify the account with two small deposits—typically less than $1 each—that appear in the account you're transferring from within one to two business days. Once verified, the full transfer goes through.

ACH transfers are free at most banks. Some banks charge a small fee ($1 to $3) for incoming transfers, but this is uncommon. The transfer itself is not instant; it typically takes one to three business days from the time you submit it. Weekends and bank holidays don't count as business days, so a transfer submitted on Friday may not arrive until Tuesday.

Wire transfers (same day, with a fee)

A wire transfer moves money the same business day, usually within a few hours. You'll pay a fee—typically $15 to $30 depending on your bank—but the speed is worth it if you need the money urgently.

To send a wire transfer, call your bank or go to a branch in person. You'll need to provide the routing number of the bank where your checking account is, your checking account number, and the amount. The bank will confirm the details and charge the fee to the account the money is coming from. The money arrives in your checking account the same day, usually by late afternoon.

Wire transfers are harder to reverse than ACH transfers, so make sure you have the correct account number and routing number before you submit. If you send money to the wrong account, you'll have to contact the receiving bank and ask them to return it, which can take days or weeks.

Peer-to-peer apps (variable timing, usually free)

Apps like Venmo, PayPal, Cash App, and Square Cash let you send money to another person's account, but they add an extra step if your goal is to move money into your own checking account. The money goes into the app's account first, and then you have to transfer it out to your checking account, which usually takes one to three business days.

These apps are useful if someone is sending you money and you want to receive it quickly, but they're not the most direct route for moving your own money between your accounts. If you use one of these apps to receive money, you can transfer it to your checking account through the app's settings—usually under "transfer to bank" or "cash out." The app will ask for your routing number and checking account number, and the transfer will process as an ACH transfer, taking one to three business days.

What information you need before you start

Before you initiate any transfer from another bank, gather these details:

  • The routing number of the bank where the money is now (you can find this on a check, by calling the bank, or by searching online for "[bank name] routing number")
  • Your account number at that bank
  • The amount you want to transfer
  • Your checking account number at the receiving bank (the bank you're transferring to)

If you're setting up a wire transfer, you'll also need the name and address of the receiving bank. Most banks have this information on file, but it's worth double-checking before you submit a wire transfer, since they're harder to reverse.

What happens if the transfer fails or takes too long

ACH transfers occasionally fail if the account number or routing number is wrong. If this happens, the money is returned to the account it came from, usually within three to five business days. Your bank will send you a notice explaining why the transfer failed. Check the account number and routing number, and try again.

If an ACH transfer doesn't arrive within three business days, contact the bank where your checking account is and ask them to trace the transfer. Provide them with the date you submitted it, the amount, and the routing number of the sending bank. The bank can check whether the transfer is still in process or whether it failed.

Wire transfers are faster but also riskier. If you send a wire to the wrong account, contact your bank immediately. The receiving bank may be able to recall the transfer if it hasn't been withdrawn yet, but this is not may provide. Wire transfers are generally not reversible once they're received.

Frequently Asked Questions

Can I transfer money on a weekend or holiday?

You can submit the transfer request any time through your bank's website or app, but it won't process until the next business day. If you submit an ACH transfer on Saturday, it will process on Monday (or Tuesday if Monday is a holiday). Wire transfers submitted on weekends or holidays will also process on the next business day.

Why does my bank ask for two small deposits to verify an external transfer?

The two small deposits (usually under $1 each) are a security measure to confirm that you own the account you're transferring from. Once you tell your bank the amounts of those deposits, the account is verified and you can transfer larger amounts. This typically takes one to two business days.

Is there a limit to how much I can transfer?

Most banks set daily and monthly limits on ACH transfers—commonly $10,000 to $25,000 per day or $50,000 per month, though this varies. Wire transfers usually have higher limits. Check your bank's website or call to find out your specific limits. You can often request a higher limit by calling customer service.

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

The routing number identifies the bank itself; the account number identifies your specific account at that bank. You need both to transfer money from another bank. The routing number is the same for all customers of that bank, but your account number is unique to you.

Can I transfer money from a savings account to a checking account at a different bank?

Yes. Use the same ACH or wire transfer method, but provide the routing number and account number of the savings account you're transferring from. The money will go into your checking account at the receiving bank.