The main ways to move money between your own bank accounts
You can move money between banks in four ways: an ACH transfer (the slowest and cheapest), a wire transfer (fast but costs money), a debit card transfer (if both banks offer it), or by writing a check. Which one you use depends on how fast you need the money, whether you're moving it between your own accounts or sending it to someone else, and what your banks charge.
If you're moving money between accounts you own at different banks, the easiest route is usually your bank's online dashboard. Log in, find the transfer or payment section, and select the other bank. You'll need the account number and routing number of the receiving bank. Most banks let you set this up in minutes, though the money won't arrive the same day.
If you're sending money to someone else's account at a different bank, the process is similar but the timeline is longer and the rules are stricter. You'll still use ACH or wire transfer, but the receiving person has to authorize it first in most cases, and the money takes longer to clear.
Key Takeaways
- ACH transfers are free or nearly free and take one to three business days, making them the default choice for moving money between your own accounts.
- Wire transfers arrive the same day or next business day but cost $15 to $50 depending on your bank, so use them only when speed matters.
- You need the receiving bank's routing number and the account number to set up any transfer, whether you're moving your own money or sending it to someone else.
- Transfers between your own accounts at different banks are faster and simpler than sending money to another person, because you don't need their permission.
- Check the receiving bank's policies before you transfer, because some banks hold deposits for a few days even after the transfer clears on their end.
ACH transfers: the standard choice for most moves
ACH stands for Automated Clearing House, and it's the network that handles most bank-to-bank transfers in the United States. When you set up an ACH transfer through your bank's website or app, your bank sends the money through this network to the receiving bank. The whole process is automated, which is why it's cheap — most banks charge nothing, and some charge $1 to $3.
ACH transfers take one to three business days. If you start a transfer on a Friday afternoon, the money won't arrive until Monday or Tuesday. Weekends and federal holidays don't count as business days, so a transfer started on Friday before a three-day weekend might not land until Wednesday. Your bank should tell you the expected arrival date when you set up the transfer.
ACH transfers work best when you're moving money between accounts you own. If you're sending money to someone else, they may need to authorize the transfer first, or your bank may require you to verify the receiving account by making two small test deposits and having the other person tell you the amounts. This verification step can add a week to the process.
Wire transfers: when you need the money fast
A wire transfer moves money the same day or next business day, depending on what time you send it and whether both banks process wires. Wire transfers cost money — typically $15 to $50 per transfer — so you pay for the speed. Some banks charge less for transfers within the same bank network, and some waive the fee if you maintain a high balance.
To send a wire transfer, call your bank or use their website or app. You'll need the receiving bank's name, routing number, and the account number. If you're sending money internationally, you'll also need a SWIFT code. Your bank will ask you to confirm the details before the transfer goes through, because wire transfers are hard to reverse once they leave your account.
Wire transfers are final once they're sent. If you send money to the wrong account, you can ask your bank to try to recover it, but there's no may provide. For this reason, wire transfers are common for large purchases like down payments on houses, but they're overkill for moving money between your own accounts or sending small amounts to people you trust.
Debit card transfers and other bank-specific options
Some banks let you transfer money using a debit card number instead of an account number. This works only if both banks are part of the same network or if they've partnered to offer the service. Check your bank's website or call to see if this option is available. Debit card transfers usually take one to two business days and cost nothing.
A few banks also offer Zelle, a peer-to-peer payment network that lets you send money to another person's bank account using their email or phone number. Zelle transfers arrive within minutes to a few hours, and they're free. However, Zelle is designed for sending money to other people, not for moving your own money between accounts, and not all banks participate.
If your bank doesn't offer these options, you can always write a check and deposit it at the receiving bank. This takes three to five business days because of check clearing rules, but it costs nothing and requires no online setup.
What information you need before you transfer
Before you start any transfer, gather the details of the receiving account. You'll need the routing number (a nine-digit code that identifies the bank) and the account number (usually 10 to 12 digits). For wire transfers, you may also need the bank's name, address, and SWIFT code if the money is going to another country.
If you're transferring between your own accounts, you can find this information on a check from the receiving account, on the bank's website, or by calling the bank. If you're sending money to someone else, ask them for these details in writing before you transfer. Never send money based on verbal instructions alone.
Double-check the account number before you confirm the transfer. A single wrong digit can send your money to the wrong account, and recovering it can take weeks or may not be possible at all. Some banks let you verify the receiving account name before the transfer goes through — if your bank offers this, use it.
How long it actually takes after you hit send
The timeline depends on the type of transfer and when you send it. An ACH transfer sent on a Tuesday morning might arrive by Wednesday afternoon, but one sent Friday evening won't arrive until Tuesday. Wire transfers sent before your bank's cutoff time (usually 2 or 3 p.m.) arrive the same day; transfers sent after the cutoff arrive the next business day.
Even after the money arrives at the receiving bank, that bank may hold it for a day or two before it shows up in the account. This is called a hold, and banks use it to protect against fraud. A hold is most common for large transfers or transfers to new accounts. Check the receiving bank's policies before you transfer, so you know whether the money will be available right away or after a delay.
If you're moving money between your own accounts at the same bank, it usually arrives instantly or within a few hours. The money doesn't have to travel through the ACH network, so the bank can process it right away.
What to do if a transfer goes wrong
If money doesn't arrive when you expect it, contact your bank first. They can tell you whether the transfer is still in progress, whether it was rejected, or whether it arrived but is on hold. Most banks have a customer service number on the back of your debit card or on their website.
If the transfer was rejected, your bank will tell you why — usually because the account number was wrong, the receiving bank doesn't recognize the routing number, or the receiving account is closed. You'll need to fix the problem and send the money again.
If the money arrived at the receiving bank but isn't showing up in the account, contact that bank. They can tell you whether there's a hold on the deposit and when it will clear. If the money went to the wrong account entirely, both banks can work together to try to recover it, but this process can take weeks.
Frequently Asked Questions
Can I transfer money between banks on a weekend?
You can start the transfer on a weekend through your bank's website or app, but it won't process until the next business day. Both banks need to be open and processing transfers for the money to move, so weekend transfers don't save time.
Is it safe to give someone my account number and routing number?
Yes, it's safe to share these numbers. They're printed on every check you write, and they're needed to receive transfers. However, only share them with people you trust, and never share your PIN or online banking password.
What's the difference between a routing number and a SWIFT code?
A routing number identifies a U.S. bank and is used for domestic transfers. A SWIFT code identifies a bank internationally and is used for transfers to other countries. You need the routing number for transfers within the United States and the SWIFT code for international transfers.
Can I cancel a transfer after I send it?
It depends on the type of transfer. ACH transfers can usually be canceled within a few hours of sending, before the money leaves your bank. Wire transfers are harder to cancel once they're sent. Contact your bank immediately if you need to stop a transfer.
Why does my bank charge a fee for wire transfers but not for ACH?
Wire transfers require manual processing by bank staff and arrive the same day, so banks charge for the service. ACH transfers are automated and take longer, so banks can offer them for free or at a low cost.