The main ways to send money to a bank account
You can send money to a bank account through ACH transfer (the slowest but cheapest), wire transfer (the fastest but most expensive), peer-to-peer apps like Venmo or PayPal (instant for some, free for others), or by writing a check (free but slowest). Which one you use depends on how fast you need the money to arrive, whether you know the person's account details, and how much you want to pay in fees.
The person receiving the money needs to give you their bank's routing number and their account number—or you can use their email or phone number if you are sending through an app. If you are sending to a business or paying a bill, the company usually tells you exactly which method to use and provides the account details.
Key Takeaways
- ACH transfers take three to five business days but cost nothing or very little, and work between any two U.S. banks.
- Wire transfers arrive the same day or next business day but cost $15 to $50 and cannot be reversed if you send to the wrong account.
- Peer-to-peer apps like Venmo and PayPal move money in minutes to hours and are free if both people have accounts, but work best for personal transfers under a few thousand dollars.
- Checks are free and reversible but take seven to ten business days to clear, and some banks no longer process them quickly.
- Always confirm the routing number and account number before sending, because mistakes can send your money to the wrong person and make recovery difficult.
ACH transfers: the standard route for bills and regular payments
An ACH transfer (Automated Clearing House) is the most common way to move money between bank accounts. Your bank sends the money through a network that processes millions of transfers a day. It takes three to five business days for the money to arrive, and most banks charge nothing or a small fee ($1 to $3) if you are sending from your own account.
To send an ACH transfer, log into your bank's website or app, select "Send Money" or "Transfer," and enter the recipient's routing number, account number, and the amount. The routing number identifies which bank the money is going to; the account number identifies the person at that bank. If you are paying a bill through your bank's bill pay service, the bank usually has the routing and account numbers on file already.
ACH transfers are reversible if you catch a mistake quickly—you can contact your bank and ask them to recall the transfer before it settles. Once the money lands in the recipient's account, you cannot reverse it without their permission, but you can dispute it if the transfer was fraudulent or sent by mistake.
Wire transfers: when you need the money today or tomorrow
A wire transfer moves money the same business day or next business day, depending on what time you send it and whether the receiving bank processes it immediately. Wire transfers cost $15 to $50 per transfer and are used most often for large amounts, time-sensitive payments, or transfers to accounts outside the U.S.
To send a wire, call your bank or go to a branch—most banks do not allow wire transfers online for security reasons. You will need the recipient's full name, routing number, account number, and the bank's address. The bank will confirm all the details before sending, because wire transfers cannot be reversed once they leave your bank. If you send money to the wrong account, you have to contact the receiving bank and ask them to return it, which they may or may not do.
Wire transfers are the most expensive way to send money, but they are also the most secure for the sender because the receiving bank has already verified the account exists before accepting the transfer. If you are sending a large sum or paying for something like a down payment on a house, a wire transfer is often the expected method.
Peer-to-peer apps: fast transfers between people
Peer-to-peer apps like Venmo, PayPal, Square Cash, and Zelle let you send money to someone using their email address or phone number instead of their routing and account numbers. The money usually arrives in minutes to a few hours, and most transfers between individuals are free. These apps work by linking to your bank account or debit card.
To send money through an app, download it, link your bank account, find the recipient by their email or phone number, enter the amount, and send. The recipient gets a notification and can accept the money into their own linked bank account. Some apps let you send money to someone who does not have an account yet—they receive a link and can claim the money once they sign up.
Peer-to-peer apps are best for personal transfers under a few thousand dollars and for splitting bills with friends. They are not ideal for business payments or large transfers because there are daily and monthly limits, and if something goes wrong, the app's customer service is usually slower than a bank's. If you send money to the wrong person by mistake, you have to contact them and ask them to send it back—the app cannot reverse it.
Checks: free but slow, and becoming less common
A check is a written order to your bank to pay someone from your account. It is free to write and send, and it is reversible if you catch a mistake before the recipient deposits it. Checks take seven to ten business days to clear, sometimes longer if the receiving bank is small or processes checks slowly.
To send a check, write the recipient's name on the "Pay to the Order of" line, write the amount in numbers and words, sign it, and mail it. The recipient deposits it at their bank, and the money moves through the ACH network just like an electronic transfer. If the check is lost in the mail or the recipient never deposits it, you can stop payment by calling your bank and paying a stop-payment fee (usually $25 to $35).
Checks are becoming less common because they are slow and require the recipient to have a bank account and access to a branch or mobile deposit. Some banks now charge a fee to process checks, and some businesses no longer accept them. If you need to send money and the recipient accepts checks, it is the cheapest option—but if speed matters at all, use ACH or an app instead.
What information you need to send money safely
The information you need depends on the method. For ACH and wire transfers, you need the routing number (a nine-digit code that identifies the bank) and the account number (usually 10 to 12 digits that identify the person at that bank). For peer-to-peer apps, you need the recipient's email or phone number. For checks, you need the recipient's name and mailing address.
Always ask the recipient to confirm their routing and account numbers before you send, because if you send to the wrong account, the money goes to whoever owns that account. The receiving bank does not verify that the account belongs to the person you intended to pay. If you send to the wrong account by mistake, contact your bank immediately—they may be able to recall the transfer if it has not settled yet, but once it settles, recovery is difficult and depends on the receiving bank's cooperation.
For large transfers or payments to businesses, ask the company to provide their banking details in writing (on an invoice or their website) rather than trusting information from an email, because scammers sometimes intercept emails and change the account numbers. If something feels unusual about the request, call the company directly using a phone number from their official website.
Fees, timing, and limits for each method
| Method | Speed | Cost | Limits |
|---|---|---|---|
| ACH transfer | 3–5 business days | Free to $3 | Usually $10,000 to $25,000 per day; varies by bank |
| Wire transfer | Same day or next business day | $15–$50 | Usually $10,000 to $100,000 per day; varies by bank |
| Peer-to-peer app | Minutes to hours | Free (standard); 1–3% for instant transfer | $500 to $20,000 per transfer; varies by app |
| Check | 7–10 business days | Free | No limit, but recipient must have bank account |
Most banks set daily and monthly limits on how much you can transfer to prevent fraud. If you need to send more than your limit, contact your bank and ask them to raise it temporarily. Peer-to-peer apps have lower limits than banks because they are designed for personal transfers, not business payments.
The limits shown in the table vary by bank and app—some are more restrictive, others more generous. Check with your specific bank or app to find out what your personal limit is before you try to send a large amount.
What to do if a transfer goes wrong
If you send money to the wrong account, contact your bank or app immediately. For ACH transfers and wire transfers, your bank may be able to recall the transfer if it has not settled yet—this usually takes a few hours. Once the transfer settles, your bank can ask the receiving bank to return the money, but the receiving bank is not required to do so. If the receiving bank refuses, you may have to pursue the matter through small claims court or a dispute process.
For peer-to-peer apps, if you send money to the wrong person, contact the app's support team and ask them to reverse the transfer. If the recipient has already accepted the money, the app usually cannot reverse it—you have to contact the recipient directly and ask them to send it back. If they refuse and the amount is large, you can file a dispute with your bank or report it to the app as fraud.
If someone sends you money by mistake, do not spend it. Contact them and let them know, and be prepared to return it. If you refuse to return money that was sent to you by mistake, the sender can dispute it with their bank, and the bank may reverse the transfer and charge you a fee.
Frequently Asked Questions
How do I know if a routing number is correct?
Ask the recipient to provide it from their bank statement or by logging into their online banking. You can also search the Federal Reserve's routing number database online by entering the bank name and state. Never trust a routing number from an email unless you called the bank directly to confirm it.
Can I send money to someone at a different bank than mine?
Yes. ACH transfers, wire transfers, and peer-to-peer apps all work between different banks. Your bank does not need to have a relationship with the receiving bank—the money moves through a national network that connects all U.S. banks.
What happens if I send money and the recipient's account is closed?
For ACH transfers, the receiving bank will reject the transfer and send the money back to your account within a few business days. For wire transfers, the receiving bank may hold the money or return it, depending on their policy. Contact your bank if the money does not return within five business days.
Is it safe to send money through a peer-to-peer app?
Peer-to-peer apps are safe if you send money only to people you know and trust. The main risk is sending money to the wrong person by mistake—the app cannot reverse it once accepted. Do not send money to strangers or in response to unsolicited requests, because scammers use these apps to collect money and then disappear.
Can I cancel a transfer after I send it?
For ACH transfers, you can cancel within a few hours if you contact your bank immediately. For wire transfers, you usually cannot cancel once sent—contact your bank right away, but expect that the money may already be gone. For peer-to-peer apps and checks, cancellation depends on whether the recipient has already accepted or deposited it.