The fastest way depends on which banks you use and how soon you need the money
If both accounts are at the same bank, you can move money between them instantly through online banking or a mobile app — usually with no fee. If the accounts are at different banks, the method and speed depend on what each bank offers. A wire transfer takes one business day but costs $15 to $30. An ACH transfer (Automated Clearing House) takes three to five business days and is usually free. A same-day ACH, if both banks support it, moves money the same day for a small fee. Some banks also let you link accounts and transfer through their app or website in minutes, though the money may take a few days to actually arrive.
Key Takeaways
- Same-bank transfers through online banking or an app are instant and free, and you can do them any time of day.
- Wire transfers cost $15 to $30 and arrive within one business day, but you need the receiving bank's routing number and account number.
- ACH transfers are free or nearly free and take three to five business days; same-day ACH costs $5 to $15 if your banks support it.
- Peer-to-peer apps like Venmo, PayPal, and Cash App can move money between people at different banks in minutes to a few hours, though fees vary.
- You can also write a check, mail it, or deposit it at an ATM, but this takes five to ten business days and requires the receiving account holder to deposit it.
Wire transfers: fastest but most expensive
A wire transfer moves money directly from one bank to another and typically arrives within one business day. You initiate it through your bank's website, app, or by calling or visiting a branch. You will need the receiving bank's routing number, the account number, and the account holder's name. Some banks ask for the account holder's address as well.
Wire transfers cost between $15 and $30 per transfer, depending on your bank. Some banks charge less for domestic wires (within the United States) and more for international ones. If you send a wire after business hours or on a weekend, it will process on the next business day. Once a wire is sent, it is difficult or impossible to cancel, so double-check the account number before you confirm.
ACH transfers: free and standard, but slower
An ACH transfer moves money through the Automated Clearing House network, which processes batches of transfers overnight. Most ACH transfers take three to five business days to complete. You initiate them through your bank's website or app by entering the receiving bank's routing number and the account number. ACH transfers are free at most banks, though some charge a small fee ($1 to $3) if you exceed a certain number of transfers per month.
Because ACH transfers take several days, the money leaves your account immediately but does not arrive at the receiving account until the transfer clears. If you need money faster and both banks support it, ask about same-day ACH. This service moves money the same calendar day and costs $5 to $15. Not all banks offer it, and cutoff times vary — most require you to initiate the transfer before 5 p.m. Eastern time on a business day.
Transfers within the same bank: instant and free
If you have multiple accounts at the same bank, you can move money between them instantly through online banking or your mobile app. Log in, select the account you want to transfer from, choose the destination account, enter the amount, and confirm. The money appears in both accounts immediately, and there is no fee.
You can also call your bank's customer service line or visit a branch to request a transfer. Same-bank transfers work around the clock, including weekends and holidays, because they do not go through the ACH network or any external clearing system.
Peer-to-peer apps: quick for small amounts between people
Apps like Venmo, PayPal, Cash App, and Zelle let you send money to another person's bank account or phone number. These services are designed for person-to-person transfers, not for moving your own money between accounts, but some people use them that way by sending money to a trusted contact and having them send it back to your other account — which is inefficient and may trigger fraud alerts.
If you do use a peer-to-peer app to move your own money, the transfer usually arrives within minutes to a few hours. Fees vary: Venmo and Cash App charge a small percentage (1% to 3%) if you use a credit card but are free with a debit card or bank account. PayPal charges a flat fee for transfers to a bank account. Zelle, which is owned by major U.S. banks, is free and often faster than other apps.
Checks and mobile deposit: slowest option
You can write a check from one account and deposit it into another. If you deposit it at an ATM or through mobile deposit (taking a photo of the check with your phone), it typically takes five to ten business days to clear. If you deposit it in person at a branch, the timeline is the same — the bank must send the check through the clearing system before the money is available.
Mobile deposit is convenient if you have a smartphone, but it requires the receiving account to be at a bank that offers the service. Some banks limit the amount you can deposit per day or per month through mobile deposit, so check your bank's policy first.
What information you need for each method
| Transfer Method | Information Needed | Cost | Speed |
|---|---|---|---|
| Same-bank transfer | Account number only (usually auto-filled) | Free | Instant |
| Wire transfer | Routing number, account number, account holder name | $15–$30 | 1 business day |
| ACH transfer | Routing number, account number | Free (usually) | 3–5 business days |
| Same-day ACH | Routing number, account number | $5–$15 | Same day |
| Peer-to-peer app | Phone number or email (for person-to-person) | Free to 3% | Minutes to hours |
| Check | None (you write the check) | Free | 5–10 business days |
How to find your bank's routing number and account number
Your routing number is a nine-digit code that identifies your bank. You can find it on the bottom left of a check, on your bank's website, or by calling customer service. Your account number is printed on the bottom of a check (after the routing number) or visible in your online banking portal. Some banks print both on your debit card or statement.
If you are transferring to a different bank, you need the receiving bank's routing number, not your own. Make sure you have the correct routing number for the branch or location where the receiving account is held, because some large banks have multiple routing numbers for different regions.
Frequently Asked Questions
Can I transfer money between banks on a weekend or holiday?
You can initiate the transfer any time through your bank's website or app, but it will not process until the next business day. Wire transfers and ACH transfers both require the banking system to be open. Same-bank transfers process instantly even on weekends because they do not go through an external network.
What if I enter the wrong account number?
If you make a mistake on an ACH transfer, the receiving bank will reject it and the money returns to your account within a few business days. Wire transfers are harder to reverse — contact your bank immediately if you realize you made an error. The receiving bank may be able to recall the wire, but there is no may provide, and you may be charged a fee.
Is there a limit to how much I can transfer?
Most banks set daily and monthly limits on ACH transfers, often $10,000 to $25,000 per day. Wire transfers usually have higher limits or no limit at all. You can request a higher limit by calling your bank. Same-bank transfers typically have no limit or a very high one.
Do I need to tell the receiving bank I am sending money?
No. Once you initiate the transfer, it will arrive automatically. The receiving bank does not need advance notice. If the receiving account is in a different name than the one sending the money, the receiving bank may flag it as unusual, but the transfer will still go through.
Which method should I use to move money between my own accounts?
If both accounts are at the same bank, use their online transfer tool — it is instant and free. If they are at different banks and you are not in a hurry, use ACH (free, three to five days). If you need the money the same day, use same-day ACH if both banks support it, or a wire transfer if you need it within one business day.