The main ways to move money between bank accounts
You can send money to another bank account using ACH transfers (the slowest but free option), wire transfers (fast but costly), peer-to-peer apps like Venmo or PayPal (instant but limited to smaller amounts), or checks (free but slowest). Which one you use depends on how fast you need the money to arrive, how much you're sending, and whether you know the recipient's account details.
Most people start with ACH because their bank offers it free and it works between any two U.S. bank accounts. Wire transfers cost $15 to $50 but arrive the same day or next business day. Apps are fastest for small personal transfers but charge fees if you want the money instantly. Checks work everywhere but take 5 to 10 business days to clear.
Key Takeaways
- ACH transfers are free and work between any U.S. banks but take 1 to 3 business days to arrive.
- Wire transfers cost money but arrive same-day or next-business-day and are the standard for large or time-sensitive payments.
- Peer-to-peer apps like Venmo and PayPal are instant for small amounts but charge fees if you want same-day withdrawal to your bank account.
- You need the recipient's routing number and account number for ACH and wire transfers, or just their username for most peer-to-peer apps.
- ACH transfers can be reversed within a few days if you make a mistake, but wire transfers are nearly impossible to recover once sent.
ACH transfers: free and standard, but slow
An ACH transfer (Automated Clearing House) is the most common way to move money between bank accounts. Your bank sends the money through a clearing network that connects all U.S. banks. It's free, works between any two accounts, and requires only the recipient's routing number, account number, and account type (checking or savings).
ACH transfers take 1 to 3 business days to arrive. The exact timeline depends on when you initiate the transfer (same-day requests initiated after 2 p.m. may not process until the next day) and your bank's processing schedule. Some banks offer "next-day ACH" for a small fee or no fee at all; ask your bank whether this is available to you.
You can set up an ACH transfer through your bank's website, mobile app, or by calling customer service. Most banks let you save the recipient's details so you don't have to enter them every time. ACH transfers are reversible for a few days after you send them if you catch a mistake—contact your bank immediately if you need to cancel or recall one.
Wire transfers: expensive but fast
A wire transfer moves money directly from your bank to another bank's account, bypassing the ACH clearing network. It arrives the same business day or the next business day, depending on what time you send it and whether the receiving bank processes it immediately. Wire transfers cost $15 to $50 per transaction, depending on your bank and whether the transfer is domestic (within the U.S.) or international.
To send a wire, you need the recipient's full name, routing number, account number, and account type. Some banks also require the recipient's address. You can initiate a wire through your bank's website, app, or by visiting a branch or calling. Many banks require you to call or visit in person for your first wire transfer to a new recipient, as a fraud prevention measure.
Wire transfers are nearly impossible to reverse once they leave your bank. If you send money to the wrong account or the recipient doesn't exist, you may have no way to recover it. Double-check all details before confirming a wire transfer. If something goes wrong, contact your bank immediately—they can sometimes contact the receiving bank and ask them to return the funds, but this is not may provide.
Peer-to-peer apps: instant for small amounts
Apps like Venmo, PayPal, Square Cash, and Zelle let you send money to someone else's account using just their username, email, or phone number. The money arrives instantly within the app, and the recipient can transfer it to their bank account afterward. These apps are free to send money, but they charge a fee (usually 1% to 3%) if you want the money to appear in your bank account immediately instead of waiting 1 to 3 business days.
Most peer-to-peer apps limit how much you can send per transaction and per month. Venmo caps personal transfers at $20,000 per week. PayPal allows up to $20,000 per transaction but may require verification for larger amounts. Zelle, which is owned by major U.S. banks, typically allows $500 to $2,000 per transaction depending on your bank. Check your app's limits before you try to send a large amount.
These apps are best for splitting bills, paying friends, or sending small amounts quickly. They are not suitable for business payments or large transfers. They also require both people to have the app installed and an account set up, so they don't work if the recipient doesn't use the same platform.
Checks: free but the slowest option
Writing a check is still a valid way to send money to another bank account. The recipient deposits it at their bank, and it clears 5 to 10 business days later. Checks are free to write (you pay for the checkbook itself, usually $10 to $30 for a box of 200), and they work with any bank account in the U.S.
Checks are useful when you don't have the recipient's account details, when you're paying a business that doesn't accept electronic transfers, or when you want a paper record of the payment. However, checks can be lost or stolen in the mail, and the clearing process is slow. If you need the money to arrive quickly, use ACH or a wire transfer instead.
What information you need to send money
| Transfer Method | Information Needed | Cost | Speed |
|---|---|---|---|
| ACH | Routing number, account number, account type | Free | 1–3 business days |
| Wire | Routing number, account number, account type, recipient name | $15–$50 | Same day or next business day |
| Peer-to-peer app | Username, email, or phone number | Free to send; 1–3% to withdraw instantly | Instant in app; 1–3 days to bank account |
| Check | Recipient name and mailing address | Free | 5–10 business days |
How to find the routing and account numbers you need
The routing number is a nine-digit code that identifies the bank. The account number is unique to each account and is usually 8 to 17 digits long. You can find both on the bottom left of a check—the routing number comes first, then the account number. If you don't have a check, call the bank's customer service line or log into the bank's website; both will display these numbers.
Make sure you have the correct routing number for the specific branch where the account is held. Some large banks have multiple routing numbers depending on the branch location. If you use the wrong routing number, the transfer may fail or go to the wrong bank. Ask the recipient to confirm the routing number if you're unsure.
Protecting yourself from fraud and mistakes
Before you send money, verify the recipient's information directly with them—call them, text them, or ask in person. Do not rely on email or social media messages, as these can be spoofed. Scammers often pose as friends, family members, or businesses and ask for wire transfers or ACH payments to fraudulent accounts.
If you're sending a large amount or to a new recipient, start with a small test transfer to make sure the account is correct. Send $1 or $5 first, wait for it to arrive, and confirm with the recipient that they received it before sending the full amount. This is especially important for wire transfers, which are hard to reverse.
If you suspect fraud or realize you sent money to the wrong account, contact your bank immediately. For ACH transfers, you may be able to recall the payment within a few days. For wire transfers, call your bank right away and ask them to contact the receiving bank and request a reversal, though this is not may provide to work.
Frequently Asked Questions
Can I send money to an account at a different bank?
Yes. ACH transfers, wire transfers, and checks all work between different banks. Peer-to-peer apps work if both people have accounts with the same app, regardless of which bank they use.
What's the difference between a routing number and an account number?
The routing number identifies the bank itself (nine digits). The account number identifies your specific account at that bank (usually 8 to 17 digits). You need both for ACH and wire transfers. You can find both on the bottom left of a check.
How long does an ACH transfer actually take?
Most ACH transfers take 1 to 3 business days. If you send it after 2 p.m., it may not process until the next day. Weekends and bank holidays add extra time. Some banks offer next-day ACH for free or a small fee.
Can I get my money back if I send it to the wrong account?
For ACH transfers, contact your bank within a few days and ask them to recall it—this sometimes works. For wire transfers, call your bank immediately and ask them to contact the receiving bank, but recovery is not may provide. For peer-to-peer apps, contact the app's support team right away.
Is it safe to share my account number and routing number?
Yes, it's safe to share these with someone you trust who needs to send you money. These numbers are printed on checks and are not secret. However, do not share them with anyone you don't know or via unsecured email or text. Scammers can use this information to set up fraudulent transfers.