The fastest way depends on which banks you use and how soon you need the money there

If both accounts are at the same bank, you can move money between them in minutes through your online banking portal or mobile app—usually free and instant. If the accounts are at different banks, your options are ACH transfer (1–3 business days, free), wire transfer (same day or next day, costs $15–50), or a third-party service like PayPal or Venmo (1–3 business days, sometimes free). The method you choose depends on speed, cost, and whether you need the money for a bill or just want it available sooner.

Key Takeaways

  • Same-bank transfers happen instantly through your online banking app and cost nothing.
  • ACH transfers between different banks take 1–3 business days and are free, but are slower than wires.
  • Wire transfers move money the same day or next business day but cost $15–50 and cannot be reversed if you make a mistake.
  • Third-party payment apps like PayPal and Venmo can move money between banks in 1–3 days, sometimes with no fee if you link your bank account directly.
  • Weekends and holidays add time to all transfers except same-bank moves, because banks do not process ACH or wire transfers on non-business days.

Transferring money between accounts at the same bank

Log into your online banking portal or mobile app, find the transfer or move money section, and select the two accounts you want to move money between. Enter the amount and confirm. The money arrives instantly—usually within minutes—and there is no fee. This is the fastest and cheapest option if you have accounts at the same institution.

Some banks call this feature "internal transfer," "between my accounts," or "move money." The exact name varies, but it is always in the main menu of your online banking. If you cannot find it, call your bank's customer service line; they can walk you through it or do it for you over the phone.

ACH transfers: free but slower

ACH stands for Automated Clearing House, a network that banks use to move money between different institutions. When you initiate an ACH transfer from your bank's website or app, your bank sends the request through this network to the receiving bank. The receiving bank then deposits the money into the account you specified.

ACH transfers are free and reliable, but they take time. Most transfers complete in 1–3 business days. If you initiate a transfer on a Friday after business hours, it will not start processing until Monday, and the receiving bank may not deposit it until Wednesday or Thursday. Weekends, federal holidays, and bank holidays all add delays.

To set up an ACH transfer, log into your bank's website or app, go to the transfer section, and select "transfer to another bank" or "external transfer." You will need the receiving account holder's name, the receiving bank's routing number, and the account number. Your bank will verify the account before the first transfer goes through—this verification can take an extra day or two.

Wire transfers: fast but irreversible and costly

A wire transfer moves money directly from one bank to another through the Federal Reserve or SWIFT network (for international transfers). Wire transfers are faster than ACH—usually same-day or next-business-day delivery—but they cost $15–50 per transfer, depending on your bank and whether the transfer is domestic or international.

The critical drawback: once a wire leaves your bank, you cannot cancel it or reverse it if you made a mistake. If you send money to the wrong account number, you have to contact the receiving bank and ask them to return it, which they may or may not do. For this reason, wire transfers are best used when you are certain of the receiving account details and the recipient is someone you trust.

To send a wire, call your bank or visit a branch in person—most banks do not allow wire transfers through their website or app for security reasons. You will need the receiving bank's name, routing number, the recipient's account number, and the recipient's name. Your bank will confirm all details before processing. Wires sent before your bank's cutoff time (usually 2 or 3 p.m.) may arrive the same day; wires sent after that or on weekends will arrive the next business day.

Using payment apps and digital wallets

Apps like PayPal, Venmo, Square Cash, and Google Pay can move money between banks, though they work differently than direct bank transfers. You link your bank account to the app, then send money to another person's account or email address. The receiving person can then transfer that money to their own bank account.

Most of these services are free if you link your bank account directly (rather than using a debit card). Transfers typically take 1–3 business days to reach the receiving bank. Some apps offer faster options—PayPal's "instant transfer" to a debit card, for example—but these usually cost $0.25 to $1.50 per transfer.

These apps are convenient if you are sending money to another person, but they add an extra step if you are moving money between your own accounts at different banks. You have to send the money to yourself through the app, then wait for it to land in your other account. For your own accounts, a direct ACH or wire transfer is simpler.

Timing: when your transfer actually arrives

The day you initiate a transfer is not the same as the day it arrives. Banks process transfers on business days only—Monday through Friday, excluding federal holidays. If you start a transfer on Friday evening, Saturday, Sunday, or a holiday, processing does not begin until the next business day.

ACH transfers take 1–3 business days after processing begins. A transfer you start on Monday morning might arrive Wednesday; one you start Friday afternoon might not arrive until the following Tuesday or Wednesday. Wire transfers are faster—usually same-day or next-business-day—but the receiving bank still needs time to post the money to the account, which can add a few hours.

If you have a bill due on a specific date, do not wait until the last day to transfer money. Start the transfer at least 3–5 business days early for ACH, or use a wire transfer if you are cutting it close. If a holiday falls during the transfer window, add an extra day.

What to do if a transfer goes wrong

If you initiated an ACH transfer and the money has not arrived after 3 business days, contact your sending bank first. They can check the status and see whether the transfer was rejected (usually because of a wrong account number or routing number) or is still in progress. If it was rejected, your bank will return the money to your account within 1–2 business days.

If the transfer was accepted but went to the wrong account, contact your bank immediately. They can reach out to the receiving bank and ask them to return the funds, but the receiving bank is not required to do so. The sooner you report the error, the better your chances of recovery.

For wire transfers, call your bank right away if you realize you made a mistake. If the wire has not yet been sent, your bank may be able to cancel it. If it has already been sent, your only option is to contact the receiving bank and ask them to return the money. Document everything in writing and keep records of all communication.

Frequently Asked Questions

Can I transfer money between banks on a weekend?

You can initiate the transfer through your bank's app or website on a weekend, but processing does not begin until the next business day. ACH transfers and wires sent on Saturday or Sunday will start moving Monday morning. If you need money urgently, use a wire transfer on a Friday before your bank's cutoff time so it arrives the same day.

What is the difference between a routing number and an account number?

The routing number identifies the bank itself; the account number identifies your specific account at that bank. You need both to transfer money to another bank. Your routing number is the same for all your accounts at that bank. Your account number is unique to each account. Both appear on the bottom left of your checks.

Do I get charged a fee for every transfer?

ACH transfers are free. Wire transfers cost $15–50 depending on your bank. Same-bank transfers are free. Payment apps are usually free if you link your bank account, though some charge for faster delivery options. Check your bank's fee schedule or call them to confirm what they charge for the type of transfer you need.

What happens if I send money to the wrong account number?

For ACH transfers, your bank will usually reject the transfer if the account number does not match the account holder's name on file. If it does go through, contact your bank immediately and they will ask the receiving bank to return it. For wire transfers, the money is gone unless the receiving bank agrees to send it back, which is why you must triple-check the account details before sending a wire.

Can I cancel a transfer after I have sent it?

ACH transfers can sometimes be cancelled within a few hours of sending, depending on your bank. Wire transfers cannot be cancelled once they leave your bank. If you need to stop a transfer, contact your bank immediately—do not wait. The sooner you call, the better your chances of stopping it.