The most direct route is your own bank's transfer tool

If you have accounts at two different banks and want to move money from one to the other, the fastest way is usually through your originating bank's online platform or mobile app. You log in, find the transfer or payment section, enter the receiving bank's routing number and your account number there, and initiate the transfer. The money typically arrives within one to two business days.

This works because banks are connected through the Automated Clearing House (ACH), a network that processes electronic transfers between institutions. When you set up a transfer this way, you are instructing your bank to send funds through ACH to the receiving bank. Your bank handles the routing and timing; you do not need to contact the other bank or provide anything beyond the account details.

Some banks call this feature "Transfer to Another Bank," "External Transfer," or "Pay to Another Account." The location varies by bank—sometimes it is under a Transfers tab, sometimes under Bill Pay. If you cannot find it in the app, call your bank's customer service line and ask where to set up an external transfer.

Key Takeaways

  • ACH transfers through your bank's website or app are the standard method and usually arrive within one to two business days at no cost.
  • You need the receiving bank's routing number and your account number at that bank; the receiving bank does not need to approve the transfer in advance.
  • Wire transfers move money the same day but cost $15 to $50 and are meant for urgent or large transfers, not routine moves between your own accounts.
  • Some banks limit how much you can transfer per day or per month through ACH; if you hit that limit, you can request a higher limit or use a wire transfer instead.
  • The receiving bank may hold the funds for a few days even after they arrive, especially if the account is new or the transfer is large.

What information you need to provide

To transfer money out of your bank, you will need the receiving bank's routing number and your account number at that bank. The routing number is a nine-digit code that identifies the receiving bank within the ACH network. You can find it on a check from that account (it is the first set of numbers at the bottom left), on the bank's website, or by calling the bank directly.

Your account number is the number of the specific account you want the money to go into. It is usually printed on your checks or visible in your online banking portal. Make sure you have both pieces of information correct before you submit the transfer—a wrong routing number or account number will send the money to the wrong place, and recovering it can take weeks.

You do not need the receiving bank's permission or approval before you initiate the transfer. The receiving bank will accept the deposit automatically as long as the account number and routing number are valid. If either is wrong, the transfer will typically bounce back to your originating bank within a few business days, and the money will return to your account.

How long the transfer takes

An ACH transfer usually takes one to two business days from the time you initiate it. "Business days" means Monday through Friday, excluding federal holidays. If you submit a transfer on a Friday afternoon, it will not begin processing until Monday, and the money will likely not arrive until Wednesday.

The timeline has two parts: the time your bank takes to send the transfer, and the time the receiving bank takes to post it. Most banks send ACH transfers the same day you request them (if you request before their cutoff time, usually 5 p.m. or 6 p.m. Eastern). The receiving bank then processes it overnight and posts the funds the next business day. In practice, this means one to two business days total.

Some banks post ACH transfers faster than others. A few offer next-business-day posting, and some newer banks or fintech platforms post same-day. Check your receiving bank's website or call them to ask their standard posting time. If you need the money faster, a wire transfer is the alternative, though it costs money and is meant for urgent situations.

Wire transfers when you need money the same day

A wire transfer moves money the same business day instead of one to two days. You initiate it through your bank the same way you would an ACH transfer—through online banking or by calling—but the bank sends it through a different network (usually SWIFT for international wires, or the Federal Reserve's wire system for domestic ones). The receiving bank receives and posts the funds the same day, usually within hours.

Wire transfers cost money. Domestic wires typically cost $15 to $50 depending on your bank; international wires cost more, often $30 to $75. Because of the cost and the speed, wire transfers are meant for urgent situations—a down payment on a house, a time-sensitive business payment, or money you need when ready. For routine transfers between your own accounts, ACH is the standard choice.

Once a wire transfer is sent, it cannot be recalled or reversed. If you send it to the wrong account, the receiving bank will not automatically return it. You would have to contact the receiving bank and ask them to reverse it, which they may or may not do depending on their policies. For this reason, double-check the receiving account details before you confirm a wire transfer.

Transfer limits and what to do if you hit them

Many banks set daily or monthly limits on how much you can transfer out through ACH. These limits vary widely—some banks allow $5,000 per day, others allow $25,000 per month, and some have no published limit. The limit is a security measure to prevent fraud if your account is compromised.

If you need to transfer more than your limit, you have two options. First, you can request that your bank raise the limit. Call customer service and ask them to increase your daily or monthly transfer limit. They may ask you security questions or require you to verify your identity, but most banks will raise the limit if you ask. The new limit usually takes effect within 24 hours.

Second, you can use a wire transfer instead. Wire transfers are not subject to the same daily limits as ACH transfers, so you can wire a large amount in a single transaction. You will pay the wire fee, but if you need to move a large sum quickly, it may be worth it.

When the receiving bank holds the funds

Even after the money arrives at the receiving bank, that bank may hold it for a few days before you can use it. This is called a hold, and it is most common when you are depositing money into a new account or when the transfer amount is unusually large for that account.

A hold typically lasts one to five business days. During that time, the money is in your account and shows in your balance, but you cannot withdraw it or use it for payments. The receiving bank is verifying that the transfer is legitimate and that the funds are good. Once the hold period ends, the money is fully available.

If you are moving money between accounts you own at two different banks, you can call the receiving bank and ask them to release the hold early. Explain that it is your own money and that you initiated the transfer from your other account. Some banks will release the hold when ready if you can verify your identity; others will not. It does not hurt to ask.

Alternatives if you cannot use your bank's transfer tool

If your bank does not offer online transfers or if you prefer not to use their platform, you can transfer money through a third-party service like PayPal, Wise, or Square Cash. These services connect to your bank account and can send money to another bank account. The process is similar—you provide the receiving account details and initiate the transfer—but the money moves through the third-party service instead of directly from your bank.

Third-party services are useful if you are transferring money internationally, if you want to avoid your bank's transfer limits, or if you prefer not to give your bank information to a third party. They may charge a fee, and the transfer may take longer than a direct bank transfer. Read the service's terms to understand the cost and timeline before you use it.

Another option is to visit a branch in person and ask a teller to help you set up the transfer. This is slower and less convenient than online banking, but it works if you do not have internet access or if you prefer to speak to someone directly. Bring your account information for both banks and a form of ID.

Frequently Asked Questions

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

Yes, as long as you have their routing number and account number. The transfer works the same way—you initiate it from your bank, and the money goes to their account. You do not need their permission in advance. However, if you are sending a large amount or sending money frequently, the receiving bank may flag it and ask the recipient about it.

What happens if I enter the wrong account number?

The transfer will go to the wrong account. If the account number does not exist at that bank, the transfer will bounce back to your bank within a few business days and the money will return to your account. If the account number is valid but belongs to someone else, the money will go to that person's account, and recovering it is difficult. Always double-check the account number before you submit.

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

No. The receiving bank will accept the deposit automatically. However, if you are sending money to someone else and they are not expecting it, it is polite to tell them so they know to look for it. If you are moving money between your own accounts, you do not need to notify anyone.

Can I cancel a transfer after I have sent it?

It depends on how far the transfer has progressed. If you cancel within a few minutes of initiating it, before your bank has sent it out, most banks will stop it. Once your bank has sent it into the ACH network, you cannot cancel it yourself—you have to contact your bank and ask them to attempt a recall, which the receiving bank may or may not honor. Wire transfers cannot be recalled once sent. Always verify the details before you confirm.

Why is my transfer taking longer than two business days?

The most common reason is that you initiated the transfer after your bank's cutoff time, so it did not begin processing until the next business day. Federal holidays also delay processing. If it has been more than three business days and the money has not arrived, contact your bank and provide them with the transfer confirmation number. They can trace the transfer and tell you where it is.