How to Move Money Between Your Bank Accounts

The fastest way depends on whether the accounts are at the same bank or different ones

If both accounts are at the same bank, you can usually move money in minutes through your online banking portal, mobile app, or by calling the bank. If the accounts are at different banks, the transfer takes one to three business days and requires the receiving account's routing number and account number. Some banks offer faster options like real-time payments, but these are not yet available everywhere.

The method you choose affects how quickly the money arrives, whether you pay a fee, and what information you need to have ready. Most transfers between personal accounts at different banks are free, but some banks charge for certain types of transfers or for moving large amounts.

Key Takeaways

• Same-bank transfers happen when ready through your online banking app or website and are always free.
• Different-bank transfers need the receiving account's routing number and account number, take one to three business days, and are usually free.
• Wire transfers move money the same day but cost $15 to $50 and are harder to reverse if you make a mistake.
• Real-time payment services like FedNow and RTP can move money in seconds at some banks, but not all banks offer them yet.
• Never share your account login credentials with anyone; legitimate transfers never require you to give out your password.

Transferring between accounts at the same bank

Log into your online banking portal or mobile app and look for a link labeled "Transfer Funds," "Move Money," or "Between My Accounts." Enter the amount, select the sending and receiving accounts, and confirm. The money moves when ready and appears in both accounts right away. You do not need any additional information because the bank already knows both accounts belong to you.

If you prefer not to use the app, call your bank's customer service number on the back of your debit card. A representative can process the transfer over the phone in a few minutes. Some banks also let you set up recurring transfers if you move money regularly — for example, moving a fixed amount from checking to savings every payday.

Same-bank transfers are always free, even if you move large amounts or transfer multiple times per day. There are no hidden fees or delays.

Transferring between accounts at different banks

You will need the routing number and account number of the bank account you are sending money to. The routing number is a nine-digit code that identifies the receiving bank; the account number identifies the specific account within that bank. You can find both on a check from that account, or by calling the receiving bank directly.

Log into your sending bank's online portal or app and select "Transfer to Another Bank," "External Transfer," or similar. Enter the receiving bank's routing number, the account number, and the amount. Most banks ask you to name the receiving account (for example, "Sarah's Savings") so you can recognize it next time. Confirm the transfer and wait one to three business days for the money to arrive.

These transfers are usually free, but some banks charge $1 to $3 per transfer if you exceed a certain number per month. Check your bank's fee schedule or ask customer service before you transfer. The receiving bank almost never charges a fee to receive money.

Wire transfers for same-day or urgent moves

A wire transfer moves money the same business day, usually within hours. You provide the receiving bank's routing number, the account number, the recipient's name, and the amount. Your bank sends the money directly to the receiving bank's Federal Reserve account, which then deposits it into the recipient's account.

Wire transfers cost $15 to $50 depending on your bank and whether the receiving bank is domestic (within the United States) or international. Some banks charge more for rush processing. Unlike standard transfers, wire transfers are nearly impossible to reverse once they leave your bank, so double-check the account number and routing number before you confirm.

Wire transfers are most useful when you need money to arrive the same day, such as when closing on a home purchase or paying a time-sensitive bill. For routine transfers between your own accounts, standard transfers are cheaper and fast enough.

Real-time payment services (when available)

Some banks now offer real-time payments through systems like FedNow (run by the Federal Reserve) or RTP (run by The Clearing House). These move money in seconds rather than days, and they work between different banks. You still need the receiving account's routing number and account number, but the money arrives almost when ready.

Real-time payments are free at most banks that offer them, though a few charge a small fee. The catch is that not all banks participate yet. Check with your bank whether they support FedNow or RTP before you count on this option. If your bank does not offer it, you can still use standard transfers, which take one to three days.

What information you need and common mistakes to avoid

For transfers between different banks, write down the receiving account's routing number and account number before you start. Routing numbers are nine digits; account numbers vary in length but are usually 10 to 12 digits. A single wrong digit will send the money to the wrong account, and you may have to contact the receiving bank to get it back.

Never share your online banking login, password, or PIN with anyone, even if they claim to be from your bank. Your bank will never ask for your password. If someone asks you to transfer money and then give them your login information, that is a scam.

Double-check the account number by reading it aloud or typing it twice. Confirm the amount before you hit submit. If you are transferring a large amount for the first time, consider sending a small test transfer first to make sure the account number is correct.

Transfers from your phone or computer

Most banks let you transfer money through their mobile app or website. Open the app, find the transfer section, and follow the prompts. Mobile transfers work the same way as computer transfers — the method does not change the speed or cost, only the device you use.

Some banks also let you transfer money through their customer service chatbot or by texting a code. Check your bank's app or website to see what options are available. If you are not sure how to use your bank's transfer feature, call customer service and ask them to walk you through it once; after that, you can do it yourself.

Frequently Asked Questions

How long does a transfer between different banks actually take?

One to three business days is the standard timeframe. Weekends and bank holidays do not count as business days, so a transfer you start on Friday afternoon might not arrive until Tuesday. Some banks process transfers faster than others, and real-time payment services can move money in seconds, but most standard transfers fall in the one-to-three-day window.

What if I enter the wrong account number?

The money will go to a different account at the receiving bank. Contact your bank when ready and explain the mistake. They can sometimes recover the funds, but it depends on whether the receiving account holder has already withdrawn the money. This is why checking the account number twice before you confirm is important.

Can I transfer money to someone else's account at a different bank?

Yes, you can transfer money to anyone's account as long as you have their routing number and account number. You do not need their permission to send money to their account. However, if you are sending a large amount, your bank may ask you to confirm that you know the recipient and that the transfer is not fraudulent.

Do I pay a fee to receive money from someone else's transfer?

No. The receiving bank does not charge a fee to receive transfers. Only the sending bank charges a fee, and only if they have a policy to do so. Most banks do not charge for transfers between personal accounts.

What is the difference between a transfer and a wire transfer?

A standard transfer takes one to three business days and is usually free. A wire transfer moves the same business day (usually within hours) but costs $15 to $50. Wire transfers are harder to reverse if you make a mistake, so use them only when you need the money urgently.