The most direct way depends on who you are sending to and how fast you need it to arrive
You can transfer money to someone else's bank account through your own bank, a money transfer service, or a payment app. The method you choose affects how long the transfer takes, what it costs, and what information you need from the recipient. Most transfers between accounts at the same bank arrive the same day or next business day. Transfers between different banks usually take one to three business days. Some services promise faster delivery but charge a fee for it.
The recipient needs to give you their account number and routing number (for US bank transfers), or their IBAN and bank details (for international transfers). You do not need their password or PIN. If you are sending money internationally, you may also need their bank's SWIFT code.
Key Takeaways
- Bank-to-bank transfers through your own bank are usually free but take one to three business days between different banks.
- Payment apps like Venmo, PayPal, and Cash App are faster for small amounts but may charge fees for when ready transfers or bank withdrawals.
- Wire transfers arrive within hours but cost $15 to $50 and cannot be reversed once sent, so verify the account details before you initiate.
- Money transfer services like Western Union and MoneyGram work for international transfers but charge higher fees than banks.
- You need the recipient's account number and routing number for domestic transfers, or IBAN and SWIFT code for international ones.
Bank transfers through your own financial institution
Log into your bank's online banking platform or mobile app and look for a "Send Money," "Transfer," or "Pay" option. You will enter the recipient's name, account number, and routing number. Most banks let you save frequent recipients so you do not have to re-enter their details each time. After you confirm the amount and review the details, the transfer is submitted.
Transfers between two accounts at the same bank usually post within hours or by the next business day. Transfers to a different bank go through the ACH (Automated Clearing House) network and typically take one to three business days. Your bank will show the transfer as pending until it clears. The recipient's bank will notify them when the money arrives. Most banks do not charge a fee for outgoing transfers, though some charge a small fee ($1 to $3) for transfers to accounts outside their network.
If you make a mistake—wrong account number, wrong amount—contact your bank when ready. If the transfer has not yet cleared, your bank may be able to stop it. Once it clears, you will need the recipient's bank to reverse it, which is not always possible. The sooner you catch an error, the better your chances of recovering the money.
Payment apps for smaller, faster transfers
Apps like Venmo, PayPal, Cash App, and Zelle let you send money to someone using their email address, phone number, or username instead of account numbers. These are fastest for small amounts between people who both have the app. The recipient receives a notification and can accept the money into their app account or transfer it to their bank account.
Transfers between app accounts are usually when ready and free. Transferring from the app to a bank account takes one to three business days and may cost $0 to $2 depending on the service. If you want the money to arrive when ready to the recipient's bank account, most apps charge $1 to $2.50 for that speed. Some apps (like Zelle) are free for bank-to-bank transfers if both people's banks participate in the network.
Payment apps are convenient for splitting rent, paying back a friend, or sending small amounts, but they have daily or monthly limits on how much you can send. Limits vary by app and by how long you have had the account. Check your app's settings to see your current limit. These apps also require both people to have smartphones and read the app, which is not always practical for older adults or for sending money to businesses.
Wire transfers for urgent or large amounts
A wire transfer moves money directly from your bank to another bank within hours, usually by the same business day if you send it before your bank's cutoff time (often 2 or 3 p.m.). Wire transfers are the fastest method and work internationally, but they cost $15 to $50 depending on your bank and whether the transfer is domestic or international.
To send a wire, call your bank or visit a branch with the recipient's full name, account number, routing number, and the amount. Your bank will ask you to confirm the details and may ask why you are sending the money. Once you authorize it, the wire is sent when ready and cannot be stopped or reversed. This is why wire transfers are a common target for scams—if you send money to the wrong account, you likely cannot get it back.
Use wire transfers only when you are certain of the recipient's account details and identity. If someone is pressuring you to wire money quickly, or if you are unsure whether the request is legitimate, do not proceed. Contact the person through a phone number or email you know is theirs, not one they provided in the message asking for money.
International transfers and money services
Sending money to another country requires different steps depending on the destination bank and the amount. Your own bank can send international wire transfers, but they charge higher fees ($30 to $75) and the recipient's bank may charge a fee as well. The money usually arrives within one to three business days.
Specialized money transfer services like Western Union, MoneyGram, and Wise (formerly TransferWise) often offer better exchange rates and lower fees for international transfers, especially for larger amounts. Wise is popular for transfers between different currencies because it uses the real exchange rate rather than a bank's marked-up rate. Western Union and MoneyGram let the recipient pick up cash at a physical location if they do not have a bank account. These services charge fees based on the amount and destination, typically $5 to $20 for smaller transfers.
For international transfers, you will need the recipient's IBAN (International Bank Account Number) and their bank's SWIFT code. Some countries use different formats—ask the recipient for their bank's exact requirements. Processing times vary by country and service, from same-day to five business days.
What information you need from the recipient
| Transfer Type | Information Needed |
|---|---|
| Bank transfer (domestic) | Full name, account number, routing number |
| Payment app (Venmo, PayPal, Cash App) | Email address, phone number, or username |
| Wire transfer (domestic) | Full name, account number, routing number, bank name |
| International wire or transfer service | Full name, IBAN, SWIFT code, bank name and address |
Always ask the recipient to provide this information directly to you, not through a third party. If someone else is asking you to send money on their behalf, confirm the request with the intended recipient through a phone number or email you know is theirs. Scammers often impersonate someone the victim knows and provide fake account details.
Double-check the spelling of the recipient's name and verify each digit of the account number and routing number before you submit the transfer. A single wrong digit can send your money to a stranger's account. Take the extra 30 seconds to read the details aloud or compare them side by side with what the recipient gave you.
Fees, timing, and when to use each method
Bank transfers are free or nearly free but take one to three business days. Use them for routine payments and when you are not in a hurry. Payment apps are fast and free between app users but have daily limits and require both people to have the app. Use them for splitting bills with friends or small personal transfers. Wire transfers are the fastest but cost $15 to $50 and cannot be reversed. Use them only when the transfer is urgent and you are certain of the account details.
Money transfer services like Wise and Western Union charge $5 to $20 for domestic transfers and more for international ones, but they may offer better rates than your bank for currency exchanges. Use them for international transfers or when you need the recipient to pick up cash. Payment apps with when ready bank transfer options charge $1 to $2.50 per transfer but are useful when you need money to arrive the same day and the recipient has a bank account.
The cheapest option is usually a standard bank transfer if you have time to wait. The fastest option is a wire transfer or an when ready payment app transfer, but both cost money. Choose based on how much you are sending, how fast it needs to arrive, and whether the recipient has a bank account or needs cash.
Frequently Asked Questions
Can I send money to someone if I only have their name and bank name?
No. You need their account number and routing number (for US transfers) or IBAN and SWIFT code (for international transfers). If you only have their name and bank, contact them and ask for the full details. Sending money to the wrong account number will result in the money going to someone else's account, and you may not be able to recover it.
What happens if I send money to the wrong account number?
Contact your bank when ready if the transfer has not yet cleared. If it has cleared, your bank can request a reversal from the receiving bank, but the receiving bank is not required to comply. The money may be stuck in the wrong account. This is why wire transfers are risky—they cannot be reversed once sent. Always double-check account numbers before you submit a transfer.
How long does a transfer take if I send it on a weekend or holiday?
Bank transfers submitted on weekends or holidays are usually processed the next business day. Payment apps process transfers when ready regardless of the day. Wire transfers submitted after your bank's cutoff time (usually 2 or 3 p.m.) are processed the next business day. Check your bank's website for its specific cutoff times and holiday schedules.
Is it safe to give someone my account number and routing number?
Yes. Your account number and routing number are designed to receive money, not send it. Someone with only these numbers cannot withdraw money from your account or access your funds. They can only deposit money into your account. Your PIN and password are what protect your account from unauthorized withdrawals.
Do I need to report large transfers to the IRS?
Banks report transfers of $10,000 or more to the IRS as part of anti-money-laundering rules. This does not mean you owe taxes on the transfer. If you are sending money to a family member as a gift, it is not taxable income to them. If you are sending money as payment for goods or services, different rules may explore. Consult a tax professional if you are unsure.