How to Transfer Money Between Banks

The main ways to move money between your banks

You can transfer money from one bank to another using an ACH transfer (the slowest but free option), a wire transfer (faster but costs money), or by moving cash in person. Most people use ACH transfers for routine moves because they cost nothing and take one to three business days. Wire transfers move money the same day or next day but typically cost $15 to $30. The method you choose depends on how fast you need the money and whether you want to pay a fee.

Before you start any transfer, you will need the receiving bank's routing number and the account number where the money is going. If you are transferring to your own account at a different bank, this is straightforward. If you are sending money to someone else, make sure you have their correct account details — a mistake here can send your money to the wrong person.

Key Takeaways

• ACH transfers are free and take one to three business days; wire transfers cost $15 to $30 and arrive the same or next business day.
• You will need the receiving bank's routing number and the account number to complete any transfer.
• Most banks let you set up transfers through their website or mobile app without calling customer service.
• ACH transfers can be reversed if you catch a mistake within a day or two, but wire transfers usually cannot be stopped once sent.

How to set up an ACH transfer through your bank's website or app

Log into your bank's website or mobile app and look for a section called "Transfers," "Move Money," or "Send Money." Click that option and select "Transfer to another bank" or "External transfer." Your bank will ask you to enter the receiving bank's routing number, the account number, and the account holder's name. Double-check these details — they must be exact.

Next, enter the amount you want to transfer and pick the date. Most banks let you schedule a transfer for today or a future date. If you choose today, the money usually leaves your account within a few hours, but it may not arrive at the other bank for one to three business days. Once you confirm the transfer, your bank will show you a confirmation number — save this in case you need to contact customer service about the transfer later.

If your bank does not offer transfers through its app or website, call customer service and ask them to set up an ACH transfer for you. They will ask for the same information: the receiving bank's routing number, account number, and account holder's name.

Wire transfers for money that needs to arrive faster

A wire transfer moves money the same business day or by the next morning, depending on what time you send it and which banks are involved. Wire transfers cost between $15 and $30 per transfer at most banks — some charge more. Because wire transfers move so quickly and cannot usually be reversed, banks treat them more carefully than ACH transfers.

To send a wire transfer, call your bank's customer service line or visit a branch in person. You will need to provide the receiving bank's routing number, the account number, the account holder's name, and the amount. Your bank may also ask for the receiving bank's full name and address. Have all this information ready before you call, because the process moves quickly once you start.

Wire transfers sent before 2 p.m. on a business day usually arrive the same day. Transfers sent after 2 p.m. or on weekends and holidays typically arrive the next business day. Ask your bank what time their cutoff is, because it varies.

What information you need before you transfer

The most important piece of information is the routing number of the bank where the money is going. This is a nine-digit code that identifies the bank itself. You can find it on the receiving bank's website, by calling their customer service line, or by asking the person who owns the account. Do not guess or use a number you are not sure about — money sent to the wrong routing number may end up at the wrong bank.

You also need the account number of the account where the money should land. This is different from the routing number and is unique to that specific account. The account holder's name must match the account number exactly as it appears in the bank's records. If the name does not match, the transfer may be rejected or delayed.

If you are transferring money to your own account at another bank, you have all this information already. If you are sending money to someone else, ask them to provide their routing number and account number in writing or over the phone — do not rely on text messages or emails, which can be intercepted or misread.

How long transfers actually take

ACH transfers typically take one to three business days from the time you send them. "Business days" means Monday through Friday, excluding federal holidays. If you send an ACH transfer on a Friday afternoon, it may not arrive until the following Tuesday or Wednesday. Weekends and holidays do not count toward the transfer time.

Wire transfers are faster: most arrive the same business day if you send them before your bank's cutoff time (usually 2 p.m.), or by the next business day if you send them after. Some banks offer same-day wire transfers for an extra fee, but this is not standard.

The receiving bank also has some control over timing. Most banks post wire transfers within a few hours of receiving them, but some may hold the money for a day while they verify it. If you are expecting a wire transfer and it has not shown up after one business day, contact the receiving bank to ask if they are holding it for verification.

What to do if you made a mistake

If you sent an ACH transfer to the wrong account, contact your bank right away — ideally within the same day. ACH transfers can sometimes be reversed if you catch the mistake quickly, but this is not may provide. Your bank will file a reversal request with the receiving bank, but the receiving bank is not required to send the money back. The sooner you report the error, the better your chances of recovery.

Wire transfers are much harder to reverse. Once a wire transfer leaves your bank, it is almost impossible to stop it. If you sent a wire to the wrong account, contact your bank when ready and ask if they can recall it, but be prepared for the answer to be no. This is one reason to triple-check wire transfer details before you confirm them.

If money arrives in your account by mistake, do not spend it. Contact your bank and tell them about the error. The bank will likely reverse the transfer, and if you have already spent the money, you may be responsible for paying it back.

Transferring money in person at a bank branch

If you do not want to use your bank's website or app, you can walk into a branch and ask a teller to help you transfer money to another bank. Bring your ID and have the receiving bank's routing number and account number ready. The teller will fill out the transfer form with you and process it on the spot.

In-person transfers take the same amount of time as online transfers — ACH transfers still take one to three business days, and wire transfers still arrive the same or next day. The only difference is that you are working with a person instead of doing it yourself online. Some people prefer this because they can ask questions and have someone verify the details before the transfer goes through.

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 will not actually process until the next business day. If you send an ACH transfer on Saturday, it will not leave your account until Monday. Wire transfers sent on weekends are typically processed on Monday morning.

What if the routing number I have is wrong?

If the routing number is wrong, the transfer may be rejected by the receiving bank and sent back to you, or it may go to a different bank entirely. This is why it is critical to verify the routing number before you send any transfer. If money goes to the wrong bank, contact your bank when ready — they may be able to trace it and have it returned.

Do I need to tell the other bank I am sending them money?

No, you do not need to notify the receiving bank in advance. The transfer will arrive in their account automatically. However, if you are sending a large amount of money, it is sometimes helpful to let the recipient know it is coming so they are not surprised when they see it in their account.

Can I transfer money to a bank account in another country?

International transfers are possible but work differently than domestic transfers. You will need the recipient's international bank account number (IBAN) or SWIFT code instead of a routing number. International transfers are slower and more expensive than domestic transfers, and they may take five to ten business days. Contact your bank for details on their international transfer process.

Is there a limit to how much money I can transfer?

Most banks set daily or monthly limits on ACH transfers, which might be $10,000 to $25,000 per day depending on your bank and account type. Wire transfers often have higher limits or no limit at all. If you need to transfer more than your bank's limit, contact customer service — they may be able to increase your limit or process the transfer in multiple batches.