How to Transfer Money Between Banks

The main ways to move money between your bank accounts

You can transfer money between banks using an ACH transfer, a wire transfer, a debit card, or by writing a check. ACH transfers are the slowest but cheapest option — they take one to three business days and usually cost nothing. Wire transfers move money the same day or next business day but charge a fee, typically $15 to $30. A debit card or ATM withdrawal lets you move cash when ready but only works for smaller amounts. A check works anywhere but takes the longest.

Which method you use depends on how much money you're moving, how fast you need it there, and whether you want to pay a fee. If you're moving a large sum and speed matters, a wire transfer is standard. If you have time and want to avoid fees, ACH is the default choice. If you're moving a small amount and want it done today, a debit card withdrawal or cash deposit works.

Key Takeaways

• ACH transfers are free or low-cost and take one to three business days, making them the cheapest option for routine transfers between your own accounts.
• Wire transfers move money the same day or next business day but cost $15 to $30 per transfer and cannot be reversed once sent.
• You can initiate most transfers online through your bank's website or app, by phone, or in person at a branch.
• Both banks must have your correct account number and routing number for the transfer to reach the right place.

ACH transfers: the standard free option

An ACH transfer (Automated Clearing House) is a bank-to-bank transfer that moves through the Federal Reserve's clearing system. It takes one to three business days because the banks batch transfers and process them at set times each day. Most banks charge nothing for ACH transfers between your own accounts, though some charge $1 to $3 for transfers to accounts at other banks.

To start an ACH transfer, log into your bank's website or app, find the transfer or send money section, and enter the receiving bank's routing number and the account number you're sending to. Your bank will ask you to confirm the amount and the date. If you initiate the transfer before your bank's cutoff time (usually 2 p.m. or 5 p.m. on a business day), it typically posts the next business day. Transfers initiated after hours or on weekends start processing the next business day.

ACH transfers work only between banks in the United States. If you're sending money to another country, you'll need a wire transfer or an international money transfer service.

Wire transfers: fast but irreversible

A wire transfer moves money directly from one bank to another and usually arrives the same day or next business day. Wire transfers cost $15 to $30 per transfer at most banks, and some banks charge different amounts for domestic and international wires. Once the money leaves your account, you cannot cancel or reverse the transfer, so you must verify the receiving account details before you send.

To send a wire transfer, call your bank or visit a branch — most banks do not allow wire transfers through their website or app for security reasons. The bank will ask for the receiving bank's name, routing number, the account number, and the account holder's name. If you're sending to another country, you'll also need the receiving bank's SWIFT code (a code that identifies banks internationally). Have all this information ready before you call or visit, because the bank will not send the wire until you confirm every detail.

Wire transfers are the standard method for large transfers, real estate transactions, and time-sensitive payments. They're also the method most vulnerable to fraud, so banks verify your identity carefully before processing a wire.

Debit card withdrawals and cash deposits

If you need to move a small amount of money quickly, you can withdraw cash from an ATM at your current bank and deposit it at your new bank. This works when ready and costs nothing if both banks are in your ATM network. If you use an out-of-network ATM, you'll pay a fee — usually $2 to $3 per withdrawal.

This method works best for amounts under $1,000 because carrying large amounts of cash is risky and banks may flag large cash deposits as suspicious. If you deposit more than $10,000 in cash, your bank is required by law to file a report with the federal government, which does not prevent the deposit but may trigger questions.

Checks: the slowest method

You can write a check from your current bank account and deposit it at your new bank. The check takes five to seven business days to clear because the receiving bank must send it back through the clearing system to your original bank for verification. Checks cost nothing to write, but they're the slowest transfer method and require you to have a checkbook.

Checks work well if you're not in a hurry and want a paper record of the transfer. They also work if the receiving bank does not accept ACH transfers or wire transfers, though this is rare at U.S. banks.

What information you need before you transfer

For any transfer, you'll need the receiving account's routing number and account number. The routing number is a nine-digit code that identifies the bank or credit union. The account number is the number of the specific account you're sending money to. Both appear on a check, or you can find them by logging into the receiving bank's website or calling the bank.

For wire transfers, you'll also need the account holder's full name exactly as it appears on the account. If the name doesn't match, the receiving bank may reject the transfer or hold it while they verify. For international wire transfers, you'll need the receiving bank's SWIFT code.

Double-check all numbers before you send, especially for wire transfers, because a single wrong digit can send your money to the wrong account and make it difficult to recover.

How long each method takes

Transfer Method	Speed	Cost	Can Be Reversed
ACH transfer	1–3 business days	Free to $3	Yes, within limits
Wire transfer	Same day or next business day	$15–$30	No
Debit card withdrawal and deposit	when ready	Free to $3	Yes
Check	5–7 business days	Free	Yes

Frequently Asked Questions

Can I transfer money between banks on a weekend?

You can initiate a transfer on a weekend, but it won't process until the next business day. Both banks are closed on weekends, so ACH and wire transfers don't move until Monday. If you need money to arrive by a specific date, count business days only and initiate the transfer at least one day earlier.

What happens if I enter the wrong account number?

If you enter a wrong account number, the money may go to someone else's account at the same bank. ACH transfers can sometimes be reversed if you catch the error quickly and contact your bank the same day. Wire transfers cannot be reversed, so contact your bank when ready if you realize you made a mistake — they can try to recover the money, but there's no may provide.

Do I need to tell the receiving bank I'm sending money?

No. The receiving bank will accept the transfer automatically once it arrives. However, if you're transferring to a new account or a different person's account, it's a good idea to let them know so they don't think the deposit is an error or fraud.

Is there a limit to how much I can transfer?

ACH transfers have limits that vary by bank, usually $10,000 to $25,000 per day. Wire transfers have higher limits, often $100,000 or more per day. Cash deposits have no legal limit, but deposits over $10,000 trigger a federal report. Contact your bank if you need to transfer more than your daily limit.

Which method is safest?

Wire transfers are the least safe because they cannot be reversed, making them a target for fraud. ACH transfers are safer because they can be disputed. If you're moving money to an account you don't recognize or a person you don't know, use ACH so you have time to stop the transfer if something seems wrong.