How to Transfer Money Between Bank Accounts

The most common ways to move money between your accounts

You can transfer money between bank accounts in four main ways: online banking, wire transfer, ACH transfer, or in person at a branch. Which one works best depends on how fast you need the money to move, whether the accounts are at the same bank or different banks, and what your bank charges.

Online banking is usually free and takes one to three business days. Wire transfers are faster — often same-day or next-day — but cost money, typically $15 to $30 per transfer. ACH transfers are free and work between different banks but take three to five business days. In-person transfers at a branch are when ready if both accounts are at the same bank, but require you to visit during business hours.

Key Takeaways

• Online banking transfers between accounts at the same bank are usually free and take one to three business days.
• Wire transfers move money faster (often same-day) but cost $15 to $30 and require your recipient's bank details.
• ACH transfers work between different banks for free but take three to five business days to complete.
• In-person transfers at a branch are when ready if both accounts are at the same bank, but you must visit during business hours.
• Your bank may limit how much you can transfer in a single day or how many transfers you can make per month.

Online banking transfers between accounts at the same bank

If you have multiple accounts at the same bank, you can transfer money through your bank's website or mobile app. Log in, find the transfer or move money section, select the account you want to send from and the account you want to send to, enter the amount, and confirm. Most banks process these transfers within one business day, though some show the money when ready.

These transfers are free. Your bank may set a daily limit on how much you can transfer — common limits are $5,000 to $25,000 per day, though you can often request a higher limit by calling customer service. Some banks also limit the number of transfers you can make per month, particularly from savings accounts.

Wire transfers for fast money movement

A wire transfer moves money directly from your bank account to another bank account, usually the same day or next business day. You provide the recipient's name, account number, routing number, and bank name. Your bank sends the money electronically through the Federal Reserve or SWIFT network (for international transfers).

Wire transfers cost money — typically $15 to $30 for domestic transfers and $25 to $50 for international ones. Once sent, a wire transfer cannot be reversed, so double-check the recipient's account details before confirming. You can initiate a wire transfer online, by phone, or in person at a branch. Some banks require you to call or visit in person for larger amounts.

ACH transfers between different banks

An ACH transfer (Automated Clearing House) moves money between accounts at different banks through a network that processes transfers in batches. You enter the recipient's name, account number, routing number, and bank name. ACH transfers are free and work in both directions — you can send money out or receive money into your account.

ACH transfers take three to five business days because the network processes them in batches, not in real time. Weekends and federal holidays add to the timeline. If you initiate a transfer on a Friday evening, it may not arrive until the following Wednesday. Your bank may limit how much you can transfer per day or per month — common limits are $10,000 to $25,000 daily, though you can request an increase.

In-person transfers at a bank branch

If both accounts are at the same bank, you can walk into a branch and ask a teller to transfer money between them. The teller will verify your identity, confirm the account numbers, and process the transfer. The money moves when ready and appears in both accounts right away.

This method requires you to visit during branch hours, which are typically Monday through Friday 9 a.m. to 5 p.m., with limited Saturday hours at some locations. You will need a photo ID. There is no fee for this transfer.

Limits and restrictions on transfers

Banks set limits on how much money you can transfer and how often. Daily limits typically range from $5,000 to $25,000, and monthly limits from $25,000 to $100,000, though these vary by bank and account type. Savings accounts sometimes have stricter limits than checking accounts.

You can usually request a temporary or permanent increase to your transfer limit by calling your bank's customer service line or visiting a branch. The bank will ask why you need the increase and may require additional verification. Some banks approve increases when ready; others take one to two business days.

If you exceed your limit, the transfer will be declined. Your bank will notify you and you can either reduce the amount and try again, or request a higher limit before transferring.

Fees and costs to expect

Online transfers between accounts at the same bank are free. ACH transfers between different banks are free. Wire transfers cost $15 to $30 for domestic transfers and $25 to $50 for international transfers. In-person transfers at a branch are free.

Some banks charge a fee if you exceed your monthly transfer limit — typically $5 to $10 per excess transfer. A few banks charge a small fee for ACH transfers if you initiate them through a third-party service rather than your bank's own system. Check your bank's fee schedule or call customer service to confirm what you will pay for the type of transfer you need.

Frequently Asked Questions

How long does a transfer between two different banks take?

An ACH transfer takes three to five business days. A wire transfer takes one business day or same-day, depending on when you initiate it and your bank's processing schedule. Transfers initiated after 2 p.m. or on weekends may not process until the next business day.

Can I cancel a transfer after I send it?

You can cancel an ACH transfer if you contact your bank before it processes, usually within one business day of initiating it. Wire transfers cannot be cancelled once sent. If you sent money to the wrong account by wire, you must contact the recipient's bank and ask them to reverse it, which they are not required to do.

What information do I need to transfer money to someone else's account?

For an ACH transfer, you need the recipient's full name, account number, routing number, and bank name. For a wire transfer, you need the same information plus the bank's address. Make sure the name on the account matches exactly — banks reject transfers if the name does not match.

Do I need to be a customer of both banks to transfer money between them?

No. You only need to be a customer of the bank you are sending from. The recipient can have an account at any bank in the United States. You just need their account and routing number.

What happens if I transfer money to the wrong account?

For ACH transfers, contact your bank when ready and ask them to recall the transfer — they can attempt this within one business day. For wire transfers, contact your bank right away and ask them to contact the recipient's bank to reverse it, though reversal is not may provide. The sooner you report the error, the better your chances of recovery.