How to Move Money Between Your Bank Accounts

The fastest way depends on which banks you use and how soon you need the money there

Moving money to another bank usually takes one to three business days, though some methods are faster. The speed and cost depend on whether both banks are connected through the same network, whether you initiate the transfer yourself or give one bank permission to pull from the other, and how much money you are moving. Most transfers between U.S. banks are free, but some banks charge a fee for outgoing transfers, and a few charge to receive them.

The most common methods are ACH transfers (which run through the Automated Clearing House network and take one to three business days), wire transfers (which move money the same day but often cost $15 to $30), and external transfers set up through your bank's website or app (which use ACH but let you move money without leaving your bank's system). Some banks also offer real-time payment networks like FedNow or The Clearing House RTP, which move money in minutes, though not all banks participate yet.

Key Takeaways

• ACH transfers are free at most banks and take one to three business days; they work between any two U.S. banks as long as you have the receiving account number and routing number.
• Wire transfers move money the same day but cost $15 to $30 per transfer and require you to provide the receiving bank's name, address, and SWIFT code if the money is going overseas.
• You can set up a transfer through your bank's website, mobile app, or by calling customer service; you do not need to visit a branch.
• Some banks now offer real-time payments through FedNow or The Clearing House RTP, which deliver money in minutes rather than days, though availability depends on whether both banks participate.
• Always double-check the receiving account number and routing number before confirming a transfer, because mistakes can send money to the wrong account and take weeks to recover.

ACH transfers: the standard method for most people

An ACH transfer moves money through the Automated Clearing House network, which connects nearly every U.S. bank and credit union. The transfer takes one to three business days because the ACH network processes transfers in batches, usually twice per day. You initiate the transfer yourself through your sending bank, and the money pulls from your account and pushes to the receiving account automatically.

To start an ACH transfer, log into your bank's website or app and look for "Transfer Money," "Send Money," or "External Transfer." You will need the receiving bank's name, the account number, and the routing number (a nine-digit code that identifies the receiving bank). Your bank will ask whether the account is checking or savings. Most banks let you transfer up to $10,000 per day or $25,000 per month through their website, though these limits vary. If you need to move more, call customer service and ask whether they can raise your limit or process a larger transfer manually.

ACH transfers are free at most banks. Some banks charge $1 to $3 per outgoing transfer, and a few charge the receiving account a small fee. Check your bank's fee schedule or call before you transfer if you are moving a large amount and want to know the exact cost.

Wire transfers: when you need the money the same day

A wire transfer moves money the same business day, usually within a few hours. The trade-off is cost: most banks charge $15 to $30 per outgoing wire, and some charge the receiving bank a fee as well. Wire transfers also require more information than ACH transfers, and mistakes are harder to reverse.

To send a wire, call your bank's wire transfer department or use your bank's app or website if it offers wire transfers online. You will need to provide the receiving bank's name and address, the receiving account number, the account holder's name, and the routing number. If the money is going to a bank outside the United States, you will also need the SWIFT code (an eight- or eleven-character code that identifies the bank internationally). Ask your bank whether they charge a fee and whether the receiving bank charges a fee; some banks deduct the receiving bank's fee from the amount that arrives, so the recipient gets less than you sent.

Wire transfers are difficult to reverse once they are sent. If you make a mistake with the account number or routing number, the money may go to the wrong account, and recovering it can take weeks or may not be possible at all. Always confirm the receiving account details with the person or business you are sending money to before you initiate the wire.

Real-time payments: the newest option for when ready transfers

Some banks now participate in real-time payment networks that move money in minutes instead of days. The two largest networks in the United States are FedNow (run by the Federal Reserve) and The Clearing House RTP (run by a consortium of large banks). If both your bank and the receiving bank participate, you can send money and have it arrive almost when ready, usually for free.

Real-time payments work similarly to ACH transfers: you log into your bank's app or website, enter the receiving account number and routing number, and confirm the transfer. The main difference is speed. However, not all banks participate in these networks yet, and participation is growing gradually. Check your bank's website or call customer service to find out whether they offer real-time payments and which networks they use.

Real-time payments typically have lower daily limits than ACH transfers — often $5,000 or $10,000 per day — because the money moves so quickly that fraud detection happens in real time rather than after the fact. If you need to move more than your bank's real-time limit, you can use ACH for the amount over the limit and real-time for the rest.

Setting up recurring transfers or standing orders

If you move money to the same account regularly — for example, from a checking account to a savings account, or to pay a family member monthly — you can set up a recurring transfer. Most banks let you schedule transfers to repeat weekly, biweekly, monthly, or on a date you choose. Recurring transfers use ACH and take the same one to three business days as a one-time transfer.

To set up a recurring transfer, go to your bank's website or app, find the transfer section, and look for "Recurring Transfer," "Standing Order," or "Scheduled Transfer." You will enter the receiving account details, the amount, and the frequency. You can usually pause, change, or cancel a recurring transfer at any time through your bank's website or by calling customer service.

What to do if a transfer goes to the wrong account

If you make a mistake with the account number or routing number, the money may go to a different account at the receiving bank. ACH transfers are easier to reverse than wire transfers, but both can take time. As soon as you notice the error, contact your bank and report it. Your bank will file a claim with the receiving bank asking them to return the money. This process usually takes five to ten business days for ACH transfers and longer for wire transfers.

If the receiving bank cannot locate the money or the account holder refuses to return it, your bank may not be able to recover it. This is why confirming the account number and routing number with the recipient before you transfer is so important. For large transfers, consider asking the recipient to confirm the details in writing, or send a small test transfer first and ask the recipient to confirm it arrived in the correct account.

Fees and limits at different banks

Transfer fees and limits vary widely by bank. Most large banks and credit unions do not charge for ACH transfers, but some online banks and smaller institutions do. Wire transfer fees are more consistent — most banks charge $15 to $30 per outgoing wire — but some banks charge more for international wires or wires to certain countries.

Daily and monthly transfer limits also vary. Many banks allow $10,000 per day or $25,000 per month through their website, but some allow more or less. If you are a new customer, your bank may have lower limits for the first 30 to 90 days. Check your bank's website or call customer service to find out your specific limits and fees before you transfer.

Frequently Asked Questions

How long does an ACH transfer actually take?

ACH transfers take one to three business days. The exact timing depends on when you initiate the transfer (transfers sent after 5 p.m. may not process until the next business day) and when the receiving bank processes incoming transfers. Weekends and federal holidays do not count as business days, so a transfer sent on Friday may not arrive until Tuesday.

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

Yes, but you will need to use a wire transfer or an international money transfer service. Wire transfers work but are expensive ($30 to $50 or more) and may take one to three business days even though they are called "same-day" transfers. Some banks and fintech companies offer international transfers at lower costs, though they may take longer. Ask your bank what options they offer for international transfers.

What is the difference between a routing number and an account number?

A routing number is a nine-digit code that identifies the bank or credit union. An account number is a unique number that identifies your specific account at that bank. You need both to transfer money. The routing number tells the ACH network which bank to send the money to; the account number tells that bank which account to deposit it into.

Do I have to pay a fee to receive a transfer?

Most banks do not charge a fee to receive ACH transfers or wire transfers. A few banks charge a small fee (usually $1 to $3) to receive wire transfers, and some charge to receive ACH transfers. Check your bank's fee schedule or call customer service if you are unsure.

Can I cancel a transfer after I send it?

It depends on the type of transfer and how quickly you act. For ACH transfers, you may be able to cancel within a few hours if you contact your bank when ready after sending it. For wire transfers, cancellation is much harder because the money usually leaves your account within minutes. Once a wire transfer is sent, it is nearly impossible to cancel. Always double-check your transfer details before you confirm.