The fastest way depends on who is sending the money and where it's coming from

If someone is sending you money from another US bank account, a wire transfer or ACH transfer will land the funds in your account within one to three business days. If the money is coming from outside the US, you'll need an international wire transfer, which takes longer and costs more. If you're moving money between your own accounts at different banks, you can initiate the transfer from either bank. If someone is sending cash or a check, you'll deposit it directly into your account through your bank's app, ATM, or branch.

The method you choose affects how fast the money arrives, what it costs, and what information the sender needs from you. Start by knowing where the money is coming from—another person's bank account, your own account elsewhere, a check, or cash—because each route has different steps and timelines.

Key Takeaways

  • ACH transfers from another US bank account take one to three business days and are free or low-cost; wire transfers arrive the same or next business day but cost $15 to $30.
  • To receive a transfer, you need to give the sender your bank's routing number, your account number, and your account type (checking or savings).
  • International wire transfers take three to five business days and cost $15 to $50, depending on your bank and the sending country.
  • Checks and cash deposits through your bank's app or ATM are free but may take one to two business days to clear.
  • If a transfer doesn't arrive on time, contact your bank with the sender's name, amount, and the date it was sent.

ACH transfers: the standard method for US-to-US money

An ACH transfer (Automated Clearing House) is the most common way to move money between US bank accounts. The sender initiates the transfer through their bank's website or app, enters your routing number and account number, and the money moves through the Federal Reserve's ACH network. Most ACH transfers take one to three business days to complete, though some banks offer next-day ACH for an extra fee.

ACH transfers are free or cost $1 to $3 if you're paying through a third-party service like PayPal or Venmo. Your bank will not charge you to receive an ACH transfer. The sender needs three pieces of information from you: your bank's routing number (a nine-digit code unique to your bank), your account number, and whether the account is checking or savings. You can find your routing number on your bank's website, by calling the bank, or by looking at the bottom left of a check if you have one.

ACH transfers work best when neither party is in a hurry. If the sender initiates the transfer on a Friday evening, it may not process until Monday, and then take another one to three days to arrive. Weekends and federal holidays pause the ACH network, so timing matters.

Wire transfers: faster but more expensive

A wire transfer moves money directly from one bank to another and typically arrives the same business day or the next morning. Wire transfers cost $15 to $30 depending on your bank, and the sender pays the fee. The sender initiates the wire through their bank and provides your routing number, account number, and full name as it appears on your account.

Wire transfers are faster than ACH because they bypass the Federal Reserve's batch processing system and move through the banks' own networks. If the sender initiates a domestic wire before your bank's cutoff time (usually 2 p.m. or 3 p.m. Eastern), the money often arrives the same day. Wires sent after cutoff or on weekends arrive the next business day.

Wire transfers are harder to reverse if something goes wrong. Once the money leaves the sender's bank, it is in your account and the sender cannot cancel it. If the sender made a mistake—wrong account number, wrong amount—you would need to voluntarily send the money back. This is why wire transfers are common for large purchases like real estate or car sales, where both parties have verified the details in advance.

International wire transfers: for money coming from outside the US

If someone is sending you money from a bank account outside the US, you'll receive an international wire transfer. These take three to five business days and cost the sender $15 to $50 depending on the sending country and your bank's fees. Your bank may also charge you a receiving fee of $10 to $25.

To receive an international wire, you need to provide the sender with your bank's routing number, your account number, your full name, and sometimes your bank's SWIFT code (an eight or eleven-character code that identifies your bank in the international system). Ask your bank for the SWIFT code if the sender requests it. Some banks also require the sender to include a reference number or your address to match the payment to your account.

International wires move slowly because they pass through multiple banks and currency conversion systems. The money may sit in an intermediary bank for a day or two before reaching your account. If the wire doesn't arrive within five business days, contact your bank with the sender's name, the amount, the date sent, and any reference number the sender provided.

Depositing checks and cash through your bank

If someone gives you a physical check, you can deposit it through your bank's mobile app by taking a photo of the front and back, or by visiting an ATM or branch. Mobile check deposits are free and usually clear within one to two business days. ATM deposits are also free and typically clear the next business day. In-person deposits at a branch teller clear the same day if you deposit before the branch closes.

For cash deposits, you can use your bank's ATM if it accepts deposits, or visit a branch teller. ATM cash deposits are free and usually available 24/7. Teller deposits are free and instant—the money is in your account immediately. Some banks limit how much cash you can deposit at an ATM in a single transaction, so check your bank's rules if you're depositing a large amount.

Checks take longer to clear than electronic transfers because the bank has to physically process the check through the clearing system. A check deposited on Monday may not be fully cleared until Wednesday. During that time, the funds show as pending in your account. If the check bounces (the sender's account has insufficient funds), your bank will reverse the deposit and charge you a returned-check fee of $10 to $30.

Transferring money between your own accounts at different banks

If you have accounts at two different banks and want to move money from one to the other, you can initiate the transfer from either bank. Log into the bank receiving the money, select "Transfer" or "Move Money," and choose the option to transfer from an external account. Enter the routing number and account number of the bank you're sending from, and the amount. The transfer will take one to three business days.

Alternatively, log into the bank sending the money and initiate an outgoing transfer to your other account. You'll need the routing number and account number of the receiving bank. Both methods are free and use the ACH network, so timing and speed are the same.

Some banks offer expedited transfers for a fee of $5 to $15, which can deliver the money the next business day. Check your bank's website or app to see if this option is available.

What to do if a transfer is late or doesn't arrive

If a transfer doesn't arrive within the expected timeframe, contact your bank first. Have ready the sender's name, the amount, the date the transfer was initiated, and the method used (ACH, wire, or check). Your bank can trace the transfer through the ACH network or wire system and tell you where it is.

For ACH transfers, delays usually happen because the sender entered the wrong routing or account number. Your bank can contact the sender's bank to see if the money went to the wrong account. If it did, the receiving bank can attempt to recover it, but this process takes time and is not may provide.

For wire transfers, if the money went to the wrong account, you'll need to contact the receiving bank directly and ask them to return the funds. Provide proof that the wire was sent in error. The receiving bank is not required to return the money, but most will if you can demonstrate the mistake.

For checks, if the check doesn't clear after five business days, contact the person who gave you the check and ask them to verify the account has sufficient funds. If the check bounces, your bank will notify you and reverse the deposit.

Frequently Asked Questions

What information do I need to give someone to send me money?

You need to provide your bank's routing number, your account number, and your account type (checking or savings). For international wires, also provide your bank's SWIFT code. Make sure the sender has your name exactly as it appears on your account, especially for wire transfers.

Can I receive a transfer if I don't have a checking account?

Yes. You can receive ACH transfers and wire transfers into a savings account. Provide your savings account number instead of a checking account number. Checks can only be deposited into a checking account at most banks, though some banks allow check deposits to savings accounts.

Is there a limit to how much money I can receive in a transfer?

Banks do not set a limit on incoming transfers, but they may flag unusually large deposits for fraud review. If you're expecting a large transfer, contact your bank in advance to let them know. The sender's bank may have limits on how much they can send in a single wire transfer.

What happens if someone sends money to the wrong account number?

If the routing number is correct but the account number is wrong, the ACH transfer may be rejected and returned to the sender within one to three business days. If both the routing and account numbers match a real account at your bank, the money will go to that account instead, and recovery is difficult. This is why wire transfers are riskier—always verify the account number before the sender initiates the wire.

How long does it take for a deposited check to be available to spend?

Most checks clear within one to two business days, but your bank may place a hold on the funds for up to five business days if the check is large or from an unfamiliar bank. During the hold period, the money shows as pending and you cannot spend it. Once the check clears, the hold is released and the funds are available.