The fastest way depends on how soon you need the money there
Bank-to-bank transfers move money through one of three routes: ACH (Automated Clearing House), wire transfer, or real-time payment systems like RTP or FedNow. ACH is free or cheap and takes one to three business days. Wire transfer is faster—usually same-day or next-day—but costs $15 to $50. Real-time systems move money in minutes but are still rolling out and not all banks offer them yet.
The method you can use depends on what your bank supports and whether you have the recipient's account details. Most people start with ACH because it is free and works between any two U.S. banks. If you need money to arrive today or tomorrow, wire transfer is the standard choice, though it costs more.
Key Takeaways
- ACH transfers are free, take one to three business days, and work between any two U.S. banks if you have the recipient's routing and account number.
- Wire transfers cost $15 to $50 but arrive same-day or next-day and require the recipient's full name, account number, routing number, and bank address.
- Real-time payment systems like RTP or FedNow move money in minutes, but only some banks offer them and both banks must participate.
- You can initiate a transfer through your bank's website, mobile app, or by calling customer service, but you cannot cancel a wire transfer once it leaves your bank.
- If money does not arrive on time, contact your bank within one business day; they can trace the transfer and may reverse it if something went wrong.
ACH transfers: free, slow, and the default choice
ACH is the backbone of bank-to-bank transfers in the U.S. Your bank submits your transfer to the ACH network, which batches it with thousands of others and clears it through the Federal Reserve. The whole process takes one to three business days depending on when you send it and your bank's processing schedule.
To send an ACH transfer, you need the recipient's routing number (a nine-digit code that identifies their bank) and account number. You can find both on a check, or ask the recipient directly. Log into your bank's website or app, select "send money" or "transfer," choose the recipient's bank, enter those numbers, and the amount. Most banks let you schedule the transfer for a future date.
ACH transfers are free at most banks, though some charge $1 to $3 for outgoing transfers. There is no limit set by the ACH network itself, but your bank may cap how much you can send in a day or per transfer. If you are sending a large amount, call your bank first to confirm the limit or request a temporary increase.
Wire transfers: expensive but fast
A wire transfer moves money the same day or next business day, making it the choice when speed matters. Your bank sends a message directly to the recipient's bank with instructions to move the funds. The cost is usually $15 to $50 depending on whether it is domestic (within the U.S.) or international.
Wire transfers require more information than ACH. You need the recipient's full legal name, account number, routing number, and the name and address of their bank. If any detail is wrong—especially the name or account number—the money may go to the wrong person or be rejected. Some banks will not process a wire if the name on the account does not match the name you provide.
Once you initiate a wire transfer and it leaves your bank, you cannot cancel it. If you realize you made a mistake, your bank can try to recall the transfer, but the recipient's bank is not required to reverse it. For this reason, double-check all details before you confirm. If the money went to the wrong account, you may have to contact the recipient's bank and ask them to return it, which can take weeks.
Real-time payment systems: minutes instead of days
RTP (Real-Time Payments) and FedNow are newer systems that move money in minutes, 24 hours a day, seven days a week. They work like ACH—you need the recipient's routing and account number—but the transfer settles almost instantly instead of taking a day or more.
The catch is that not all banks offer these systems yet. Large banks like Bank of America, Wells Fargo, and Chase have rolled out support for one or both, but smaller regional banks and credit unions may not. Before you try to send a real-time payment, check your bank's website or call to confirm they support it. If your bank does not, you are back to ACH or wire transfer.
Real-time payments are usually free, though some banks may charge a small fee. Because the money arrives so quickly, there is less time to cancel or reverse the transfer if something goes wrong. Treat a real-time payment the same way you would a wire transfer: verify all details before you send.
How to send money through your bank
Most banks let you initiate a transfer through their website, mobile app, or by phone. The steps are similar across all three:
- Log into your bank account online or open the mobile app.
- Look for "Send Money," "Transfer," "Pay," or "External Transfer."
- Select the account you are sending from (if you have multiple).
- Enter the recipient's bank and account details, or select them from your saved recipients if you have sent to them before.
- Enter the amount and choose the transfer type (ACH, wire, or real-time if available).
- Review the details, including the fee if any.
- Confirm the transfer.
If you prefer not to use the website or app, call your bank's customer service line. A representative can walk you through the transfer over the phone and may ask you to verify your identity or the recipient's details before processing.
Some banks require you to register a recipient before you can send money to them. This is a security measure: you add the account details once, and the bank verifies them before allowing transfers. The verification can take one to two business days. After that, you can send money to that recipient anytime without re-entering their information.
What happens if the transfer does not arrive
ACH transfers usually arrive within one to three business days. If it has been longer, contact your bank and provide the date you sent it, the amount, and the recipient's account number. Your bank can trace the transfer through the ACH network and tell you where it is.
Wire transfers should arrive same-day or next-day. If it has been more than one business day, call your bank immediately. Wire transfers can be delayed if the recipient's bank is processing a high volume or if there is a discrepancy in the account details. Your bank can contact the recipient's bank to confirm whether the money arrived.
If the transfer was sent to the wrong account, your bank can file a claim with the ACH network or the recipient's bank, but recovery is not may provide. The recipient's bank may refuse to reverse the transfer if the money has already been withdrawn. This is why verifying the account number and routing number before sending is critical.
If you suspect fraud—for example, if someone sent money from your account without permission—report it to your bank within one business day. Banks are required to investigate unauthorized transfers, and you may be protected from liability depending on how quickly you report it and your bank's fraud policy.
Fees, limits, and timing by transfer type
| Transfer Type | Speed | Typical Cost | Information Needed | Can Be Canceled |
|---|---|---|---|---|
| ACH | 1–3 business days | Free or $1–$3 | Routing number, account number | Yes, before it clears |
| Wire Transfer | Same-day or next-day | $15–$50 | Full name, account number, routing number, bank address | No, after it leaves your bank |
| Real-Time Payment (RTP/FedNow) | Minutes | Free or small fee | Routing number, account number | No, after it settles |
Daily and per-transfer limits vary by bank. Most banks allow $10,000 to $25,000 per ACH transfer, but some cap it lower for new accounts or unverified recipients. Wire transfers often have higher limits, sometimes $50,000 or more. If you need to send more than your bank's limit, call and ask for a temporary increase or split the transfer across multiple days.
Frequently Asked Questions
Can I send money to a bank account at a different bank than mine?
Yes. ACH, wire transfers, and real-time payments all work between different banks as long as both banks are in the U.S. and participate in the network. You do not need to have an account at the recipient's bank.
What if I do not know the recipient's routing number?
Ask the recipient directly, or look it up on their bank's website. Most banks publish their routing number publicly. You can also ask the recipient to provide a blank check—the routing number is printed at the bottom left.
How do I know if my bank supports real-time payments?
Log into your bank's website or app and look for the transfer options. If real-time payment is available, it will appear as an option when you initiate a transfer. You can also call your bank's customer service and ask whether they support RTP or FedNow.
Can I cancel a wire transfer after I send it?
Not reliably. Once a wire transfer leaves your bank, it is in the recipient's bank's hands. Your bank can attempt to recall it, but the recipient's bank is not required to reverse it. Always verify all details before confirming a wire transfer.
What if I sent money to the wrong account by mistake?
Contact your bank immediately and provide the transfer details. Your bank can file a claim, but recovery depends on whether the recipient's bank will cooperate and whether the money has been withdrawn. The sooner you report it, the better your chances.