The basic steps to transfer money between your own accounts
Moving money from savings to current is a straightforward transfer between two accounts you own at the same bank or different banks. Most transfers happen within one to three business days, depending on whether the banks are connected and what method you use. The fastest route is usually your bank's mobile app or online portal, where you can set up a one-time transfer or a standing order in minutes.
You will need the account number and sort code (or routing number in the US) of the current account you are transferring to. If both accounts are at the same bank, the transfer often completes the same day. If they are at different banks, it typically takes one to three business days under the Faster Payments Scheme in the UK, or up to one business day under ACH in the US.
Key Takeaways
- Same-bank transfers usually complete within hours; different-bank transfers take one to three business days depending on your country's payment system.
- You can transfer money through your bank's app, online portal, phone, or in person at a branch — the app is fastest and available 24/7.
- Set up a standing order if you transfer the same amount regularly, rather than repeating one-time transfers each month.
- Check your bank's daily transfer limits before you move large amounts, as some accounts cap how much you can move in a single day.
- Keep your account numbers and sort codes private; never share them via email or text, even if someone claims to be from your bank.
Transfer methods: app, online, phone, and branch
The mobile app or online banking portal is the fastest and most convenient method. Log in, find the transfer or payments section, enter the receiving account details (your own current account), the amount, and confirm. Most banks show you the expected arrival date before you submit. This method works 24/7 and takes seconds.
Phone transfer requires you to call your bank's customer service line. You will need to verify your identity, provide the receiving account number and sort code, and confirm the amount. This takes longer than the app — typically 10 to 20 minutes — but is useful if you do not have online access or prefer speaking to someone.
In-branch transfer means visiting a physical branch and asking a staff member to move the money. This is the slowest method and is rarely necessary, but it is an option if you have no other access to your accounts or need to transfer a very large amount that triggers additional security checks.
Standing order is the right choice if you transfer the same amount every month or on a regular schedule. Set it up once through your app or online portal, and the bank moves the money automatically on the date you choose. This saves you from repeating the same transfer manually each time.
What happens if both accounts are at the same bank
Same-bank transfers are the fastest because the money does not have to travel between different banking systems. When you initiate the transfer through your app or online portal, the money often moves within minutes to a few hours. Some banks complete same-bank transfers instantly, especially if you have already transferred between these two accounts before.
You may not even need the full account number and sort code — many banks let you select the receiving account from a dropdown list of your own accounts. This also reduces the risk of entering the wrong details, since you are choosing from accounts you already own.
What happens if the accounts are at different banks
Different-bank transfers go through a payment system that connects all the banks. In the UK, this is the Faster Payments Scheme, which typically delivers money within one business day. In the US, transfers use the ACH (Automated Clearing House) system, which also takes one business day in most cases. Some banks offer same-day transfers for an extra fee, but standard transfers are free and take the standard timeframe.
You must provide the correct account number and sort code (UK) or account number and routing number (US) for the receiving bank. Double-check these details before you submit, because sending money to the wrong account number at a different bank can make recovery difficult. If you are unsure, call your current account provider and ask them to confirm the details.
The receiving bank will not process the transfer until the next business day after you submit it, even if you send it at 11 p.m. on a Friday. Transfers submitted on weekends or bank holidays are queued and processed on the next business day.
Daily and monthly transfer limits
Most banks set a daily transfer limit — the maximum amount you can move in a single day. This limit varies by bank and account type, ranging from £500 to £10,000 or more. Check your bank's terms or log into your online portal to see your specific limit. If you need to move more than your daily limit, you can split the transfer across multiple days or contact your bank to request a temporary increase.
Some accounts also have a monthly transfer limit, though this is less common. Savings accounts designed for frequent transfers may have higher limits than those designed for long-term saving. If you plan to move large amounts regularly, ask your bank whether your account type supports that volume.
If you try to transfer more than your limit, the transaction will be rejected at the point you submit it. You will see an error message telling you the limit has been exceeded. The money stays in your savings account, and you can try again with a smaller amount or wait until the next day.
Security and protecting your account details
When you set up a transfer, your bank will ask you to confirm the account number and sort code of the receiving account. Because you are transferring to your own current account, you already know these details. Write them down from your current account statements or your bank's app, rather than relying on memory.
Never share your account number, sort code, or online banking password via email, text, or phone — even if someone claims to be from your bank. Your bank will never ask you for your password. If you receive a message asking for these details, it is a scam; delete it and contact your bank directly using the number on the back of your card or your statement.
If you are transferring between accounts at different banks for the first time, some banks may flag the transaction as unusual and ask you to confirm it. This is a security measure. Respond to the confirmation request through your app or by calling the number on your card — never click a link in an email or text.
What to do if the transfer does not arrive
If the money has not arrived within the expected timeframe, log into your sending bank's app and check the transaction history. Look for the transfer you made and its status — it should show "completed", "pending", or "failed". If it shows "completed" but the money is not in your current account, contact your receiving bank (the one holding your current account) and give them the transaction reference number from your sending bank. They can trace the payment on their end.
If the transfer shows "failed" or "rejected", the money will return to your savings account within one to three business days. Check the reason for the rejection — common causes are an incorrect account number, insufficient funds, or exceeding your daily limit. Correct the problem and try again.
If the transfer is stuck in "pending" status after three business days, contact your sending bank's customer service. Provide the transaction reference number and the date you submitted the transfer. They can investigate whether the payment is delayed in the system or lost.
Frequently Asked Questions
Can I set up a transfer to someone else's current account from my savings account?
No — transfers between your own accounts at the same or different banks are straightforward, but sending money to another person's account is a different transaction called a payment or bank transfer. You can do this, but it requires their account details and follows different rules. Your bank will ask you to confirm you know the recipient and the purpose of the payment.
What if I enter the wrong account number by mistake?
If you enter an incorrect account number at a different bank, the money may go to someone else's account. Contact your sending bank immediately with the transaction reference number and explain the error. They can attempt to recall the payment, but success depends on whether the receiving bank has already processed it. This is why double-checking the account number before you submit is critical.
Do I pay a fee to transfer money between my own accounts?
Most banks do not charge a fee for transfers between your own accounts, whether they are at the same bank or different banks. However, some banks charge a small fee for expedited same-day transfers or for transfers above a certain amount. Check your bank's fee schedule or terms before you transfer, or ask customer service.
Can I cancel a transfer after I have submitted it?
If the transfer is still pending, you may be able to cancel it through your app or by calling your bank immediately. Once the transfer has been processed and the money has left your account, cancellation is not possible — you would need to ask the receiving bank to return it. Act quickly if you need to cancel; the sooner you contact your bank, the better your chances.
How do I know if my transfer has arrived?
Log into your current account through your app or online portal and check the recent transactions or balance. The transfer should appear as a deposit from your savings account. You can also check your sending bank's app to confirm the transaction shows as "completed". If you set up a standing order, the first transfer will arrive on the date you specified.