What transfer paper does and when you need it
Transfer paper is a physical form your bank provides that lets you move money from one of your accounts to another account at a different bank. You fill it out by hand, sign it, and give it to your bank — either in person at a branch, by mail, or sometimes by fax. The bank then processes the transfer, which usually takes three to five business days.
You use transfer paper when you want to move money but do not have online access to both accounts, or when your bank does not offer electronic transfers to the other bank. It is also useful if you are moving money for someone else (with their permission) or if you need a paper record of the transaction for your own files.
Transfer paper is different from a wire transfer, which is faster but costs money. It is also different from an ACH transfer, which is electronic and free but requires you to set it up through online banking. Transfer paper sits in the middle: it is free, it leaves a physical record, and it works even if you do not have the other bank's routing number memorized.
Key Takeaways
- Transfer paper is a form you fill out and sign to move money between accounts at different banks, and it takes three to five business days to complete.
- You need the receiving account number and the name of the bank where that account is held, but you do not need the routing number if you write the bank name clearly.
- You can submit transfer paper in person at a branch, by mail, or by fax, depending on what your bank accepts.
- Your bank will deduct the money from your account on the day they process the form, not the day you submit it, so plan ahead if you need the money on a specific date.
How to get transfer paper from your bank
Call your bank's customer service line or visit a branch in person and ask for a transfer form, an inter-bank transfer form, or a funds transfer request form — different banks use different names. Most banks will give you the form on the spot if you are at a branch, or they will mail it to you within a few business days if you call.
Some banks also let you read the form from their website. Look in the "Forms" or "Documents" section, or search the site for "transfer form" or "inter-bank transfer." If you cannot find it online, calling is faster than searching.
A few banks have stopped using paper transfer forms entirely and only offer electronic transfers through their website or app. If that is the case with your bank, you will need to set up an electronic transfer instead — but the bank's customer service team can walk you through that process.
What information to write on the form
The form will have blanks for your information, the receiving account details, and the amount. Here is what goes in each section:
| Field | What to write |
|---|---|
| Your name | Your full legal name as it appears on your account |
| Your account number | The account number at the bank where you are sending the money from |
| Receiving account holder name | The full legal name of the person who owns the receiving account |
| Receiving account number | The account number at the other bank |
| Receiving bank name | The full name of the bank where the receiving account is held |
| Amount | The dollar amount, written both as a number ($500.00) and spelled out (Five hundred dollars) |
| Date | The date you are filling out the form |
Write clearly and use black or blue ink. If you make a mistake, cross it out with a single line and write the correction above it — do not use white-out or erase. Banks are strict about this because they need to be able to read what you wrote and see that you made the change yourself.
The receiving account holder name must match the name on the receiving account exactly. If the account is under "Robert Smith" and you write "Bob Smith," the transfer may be rejected or delayed. If you are unsure of the exact name, call the receiving bank or ask the account owner to confirm it.
How to submit the form to your bank
You have three main options for getting the form to your bank: in person, by mail, or by fax. Which one you choose depends on how fast you need the transfer to happen and what your bank accepts.
In person at a branch: Walk into any branch of your bank with the completed and signed form. A teller will take it from you and process it that day or the next business day. This is the fastest option if you need the transfer to start moving quickly.
By mail: Put the signed form in an envelope and mail it to the address your bank provides on the form or on their website. Mail takes two to three days to arrive, so add that time to the three to five days the bank needs to process it. Use this option only if you have time to wait a week or more.
By fax: Some banks accept faxed transfer forms. Call your bank to ask for the fax number and confirm they accept this method. Faxing is faster than mail but slower than in person. Make sure the fax goes through completely — ask for a confirmation page.
Do not email the form unless your bank specifically tells you it is safe to do so. Email is not find, and sending account numbers and personal information over email puts you at risk.
What happens after you submit the form
Once your bank receives the form, they will verify that you signed it, that the account number is correct, and that you have enough money in your account to cover the transfer. This verification usually takes one business day.
After verification, the bank will deduct the money from your account and send it to the receiving bank. This part takes two to four more business days, depending on the banks involved. You will see the money leave your account before it arrives at the receiving bank — that is normal.
The receiving bank will then deposit the money into the receiving account. You can call that bank to ask when the money arrived, or you can check the receiving account online if you have access to it. Most banks send a confirmation email or statement entry once the deposit is complete.
If something goes wrong — for example, if the account number was wrong — the money will be returned to your account. This return can take another five to seven business days. Your bank will contact you to let you know what happened.
Common mistakes to avoid
The most common mistake is writing the receiving account number wrong. Double-check it against the account statement or ask the account owner to read it to you out loud. A single wrong digit will send the money to the wrong account, and getting it back takes time.
Another mistake is not signing the form. Banks will not process an unsigned transfer form, and if you mail it, you will have to mail it back, sign it, and mail it again. Always sign in the space marked "Authorized Signature" or "Account Holder Signature."
Do not write the amount in only one place. If the form asks for both a number and words, fill in both. If they do not match, the bank may call you to confirm which amount you meant, which delays the transfer.
Finally, do not assume the transfer will happen on the day you submit the form. Banks process transfers in batches, usually once a day. If you submit the form on a Friday afternoon, it may not be processed until Monday. Plan for three to five business days from the day the bank receives the form, not from the day you hand it over.
Alternatives to transfer paper
If transfer paper feels slow or inconvenient, you have other options. Online banking transfers are the fastest and easiest — you log into your bank's website or app, enter the receiving account details, and the money moves in one to three business days. Most banks offer this for free.
Wire transfers are faster than transfer paper, usually completing the same day or the next business day. They cost money — typically $15 to $30 per transfer — but they are worth it if you need the money to arrive quickly.
ACH transfers are free electronic transfers that take three to five business days, the same as transfer paper. You set them up through online banking instead of filling out a form. If your bank offers ACH transfers, they are usually easier than transfer paper.
Ask your bank which of these options they support. Most banks offer at least two of them, and many offer all three.
Frequently Asked Questions
Can I use transfer paper to move money to an account in someone else's name?
Yes, as long as you have permission from the account owner. Write their name in the "Receiving account holder" field and their account number. You will still sign the form with your own name, since you are authorizing the transfer from your account. The receiving bank will deposit the money into their account.
What if I do not know the receiving bank's routing number?
You do not need it if you write the bank name clearly on the form. The routing number helps the transfer move faster, but most banks can find the receiving account using just the bank name and account number. If the form has a space for routing number and you know it, write it in — it does not hurt — but do not let a missing routing number stop you from submitting the form.
How long does transfer paper take compared to online banking?
Transfer paper takes three to five business days from the day your bank processes it. Online banking transfers take one to three business days. If you submit transfer paper by mail, add two to three days for the mail to arrive first. Online banking is faster, but transfer paper leaves a physical record if you need one.
What if the transfer goes to the wrong account?
Call your bank when ready and explain what happened. They will try to recover the money from the receiving bank, but success depends on whether the receiving bank can locate and reverse the deposit. This process can take two to four weeks. To avoid this, always verify the receiving account number twice before submitting the form.
Can I cancel a transfer after I submit the form?
It depends on how quickly you call. If you contact your bank before they process the form, they can usually stop it. Once the money has left your account, cancellation is much harder — you will have to ask the receiving bank to reverse the deposit, which they may or may not do. Call your bank as soon as you realize you need to cancel.