The fastest way depends on how soon you need the money

Bank-to-bank transfers move money through one of three routes: ACH (Automated Clearing House), wire transfer, or real-time payment systems like FedNow. ACH is free and takes one to three business days. Wire transfers cost $15 to $50 and arrive the same day or next business day. Real-time payments, available through some banks, move money in minutes but may have lower limits. The method you choose depends on speed, cost, and whether your bank supports it.

You do not need to go to a branch. Most transfers happen online through your bank's website or app, or by phone if you call customer service. You will need the recipient's routing number, account number, and account type (checking or savings). Some banks also accept transfers to an email address or phone number if both banks use the same real-time payment network.

Key Takeaways

  • ACH transfers are free but take one to three business days; wire transfers cost money but arrive same-day or next-business-day.
  • You need the recipient's routing number, account number, and account type to send money; some banks also accept email or phone number transfers.
  • Real-time payment systems like FedNow move money in minutes if both banks participate, but may limit how much you can send per transaction.
  • Set up a transfer through your bank's website, app, or by phone; most banks let you schedule transfers in advance.
  • If money does not arrive on time, contact your bank within one business day; ACH transfers can be recalled if the recipient's bank has not yet accepted them.

ACH transfers: free, standard, and slowest

ACH is the most common way to move money between banks because it is free and works between any two U.S. banks. The transfer goes through the Federal Reserve's clearing system, which processes batches of transactions at set times during the day. This is why ACH takes one to three business days: the money does not move instantly, and weekends and holidays add delay.

To send an ACH transfer, log into your bank's website or app, select "send money" or "transfer," and choose the recipient's bank. Enter the recipient's routing number (a nine-digit code unique to each bank), account number, and whether it is a checking or savings account. Your bank will verify the information before the transfer goes through. Some banks let you schedule the transfer for a future date, which is useful if you want to time it with a paycheck or payment due date.

ACH transfers can be recalled if the recipient's bank has not yet accepted the money. If you send a transfer and realize you made a mistake, contact your bank immediately—the sooner you call, the better the chance of stopping it. Once the recipient's bank accepts the transfer, you cannot get the money back unless the recipient sends it back to you voluntarily.

Wire transfers: faster, but they cost money

A wire transfer moves money the same day or next business day and is the fastest option if your bank does not offer real-time payments. Wire transfers cost between $15 and $50 depending on your bank and whether the transfer is domestic (within the U.S.) or international. The money leaves your account immediately, even though it may take hours or a day to reach the recipient.

To send a wire, call your bank or use their website if they offer online wire transfers. You will need the recipient's full name, routing number, account number, and account type. Some banks also ask for the recipient's address. Double-check all information before confirming—wire transfers cannot be recalled once they leave your bank, and if you send money to the wrong account, recovery is difficult and may not be possible.

Wire transfers are tracked by a reference number your bank gives you. Keep this number in case you need to follow up on the transfer. If the money does not arrive within the timeframe your bank promised, contact them with the reference number and they can investigate on your behalf.

Real-time payments: minutes instead of days

Real-time payment systems like FedNow and The Clearing House's RTP network move money in minutes, not days. Not all banks participate yet, so check whether both your bank and the recipient's bank are on the network before you try. If both banks participate, you can often send money using just an email address or phone number instead of routing and account numbers.

Real-time payments usually have lower limits than ACH or wire transfers—often $5,000 to $25,000 per transaction, depending on your bank and the network. They are free or cost a small fee. To send a real-time payment, log into your bank's app or website, look for "send money instantly" or "real-time payment," and follow the prompts. Your bank will tell you if the recipient's bank is on the same network.

If the recipient's bank is not on the real-time network, your bank will fall back to ACH, which takes longer. Ask your bank which real-time networks they use so you know what to expect before you send money.

What information you need before you start

The minimum information for any transfer is the recipient's routing number, account number, and account type. The routing number identifies which bank holds the account. You can find it on a check, on the bank's website, or by calling the bank. The account number is printed on checks or visible in the recipient's online banking. The account type tells your bank whether to deposit into checking or savings.

For wire transfers, also have the recipient's full name and address. For real-time payments, you may only need an email address or phone number if both banks use the same network. Write down all information before you start the transfer so you do not have to ask the recipient twice or make a typo that sends money to the wrong place.

Transfers that do not arrive on time

ACH transfers should arrive within one to three business days. If money does not show up by the end of the third business day, contact your bank. Have your transfer confirmation number ready. Your bank can check whether the transfer left your account and whether the recipient's bank received it. If the transfer is stuck in the system, your bank can file a trace to locate it.

Wire transfers should arrive same-day or next-business-day. If a wire does not arrive within one business day, call your bank immediately with the reference number. Wire transfers are harder to trace than ACH, so the sooner you report it, the better. Your bank will contact the recipient's bank to confirm whether the money was received.

If the transfer went to the wrong account, contact your bank right away. For ACH, your bank may be able to recall the transfer if the recipient's bank has not yet accepted it. For wire transfers, you will need to contact the recipient's bank directly and ask them to return the money—your bank cannot force them to do so. This is why checking all information before sending is critical.

Fees and limits

ACH transfers are free from most banks. Some banks charge a small fee ($1 to $3) if you send more than a certain number of transfers per month, but most personal accounts have no limit. Wire transfers cost $15 to $50 per transfer. Real-time payments are usually free or cost $1 to $2.

Daily and monthly limits vary by bank and transfer type. ACH transfers may have a daily limit of $10,000 to $25,000 and a monthly limit of $50,000 or more. Wire transfers often have higher limits, sometimes $100,000 or more per day. Real-time payments typically have lower limits, $5,000 to $25,000 per transaction. Check your bank's website or call customer service to find out your specific limits.

Frequently Asked Questions

Can I transfer money between my own accounts at different banks?

Yes. Use the same process as transferring to someone else—enter your own routing number and account number at the other bank. Some banks let you link your accounts so transfers are faster or have higher limits. Check your bank's website for an option to add an external account.

What if I do not know the recipient's routing number?

Call the recipient's bank or visit their website—most banks publish routing numbers online. You can also ask the recipient to check a check or their online banking. Do not guess or use a number you are not sure about, because the transfer may go to the wrong account.

How long does a transfer take if I schedule it for a future date?

Scheduled transfers follow the same timeline as regular transfers. If you schedule an ACH transfer for three days from now, it will take one to three business days after that date to arrive. Wire transfers and real-time payments still move on the same day or next business day, even if scheduled in advance.

Can I cancel a transfer after I send it?

ACH transfers can sometimes be cancelled if you contact your bank immediately and the recipient's bank has not yet accepted the money. Wire transfers cannot be cancelled once they leave your bank. Real-time payments move so fast that cancellation is usually not possible. Always double-check information before confirming any transfer.

What happens if I send money to the wrong account by mistake?

Contact your bank immediately. For ACH, your bank may recall the transfer if it has not been accepted yet. For wire transfers, you will need to ask the recipient's bank to return the money, but they are not required to do so. This is why verifying routing and account numbers is critical before sending.