The main ways to move money between bank accounts
You can send money to another bank account through ACH transfer (the slowest and cheapest), wire transfer (the fastest and most expensive), peer-to-peer apps (fast and often free for small amounts), or checks (slow but familiar). Which one you use depends on how fast you need the money to arrive, how much you're sending, and whether you know the recipient's account details.
Most people use ACH for routine payments because it costs nothing and works between any two U.S. bank accounts. Wire transfers are for time-sensitive money—closing on a house, paying a contractor before they start work. Apps like Venmo or PayPal work best for splitting rent or paying a friend back. Checks are still an option if you don't have the other person's account number or routing number.
Key Takeaways
- ACH transfers are free, take 1 to 3 business days, and work between any U.S. banks, but you need the recipient's account and routing number.
- Wire transfers arrive the same day or next business day but cost $15 to $50 and cannot be reversed once sent.
- Peer-to-peer apps like Venmo, PayPal, and Cash App are instant or next-day for small amounts, often free, but require both people to have the app.
- You can send money through your bank's online portal, mobile app, or by phone—most banks offer all three methods at no extra charge.
- If you don't have the recipient's account details, a check or a peer-to-peer app is usually faster than trying to get that information.
ACH transfers: free, slow, and the default choice
ACH stands for Automated Clearing House, and it's the backbone of how money moves between bank accounts in the U.S. When you set up a bill payment through your bank's website, transfer money to a friend's account, or receive a direct deposit paycheck, that's ACH. It's free, it's reliable, and it works between any two banks.
The catch is speed. An ACH transfer takes 1 to 3 business days to land in the other account. Your bank sends the request on day one, the clearing house processes it overnight, and the receiving bank deposits it on day two or three. Weekends and federal holidays add time—a transfer you send on Friday afternoon won't move until Monday.
To send an ACH transfer, you need the recipient's account number and routing number (a nine-digit code that identifies their bank). Most banks let you set this up in their online portal or mobile app under "Send Money" or "Transfer Funds." You'll enter the amount, pick a date (today or a future date), and confirm. Some banks also let you do this over the phone.
ACH transfers have a daily limit, usually $10,000 to $25,000 depending on your bank, though you can often raise this by calling customer service. There's no fee from your bank, and the receiving bank doesn't charge either.
Wire transfers: expensive, irreversible, and final
A wire transfer moves money the same business day or next business day, and once it's sent, it cannot be stopped or reversed. This makes wire transfers the choice for time-sensitive payments—earnest money on a house, a contractor's deposit, an urgent payment to someone you trust completely.
Wire transfers cost money. Your bank will charge $15 to $50 depending on whether it's domestic (within the U.S.) or international. The receiving bank may also charge a fee on their end, though this is less common for domestic wires. You'll need the recipient's account number, routing number, and full name exactly as it appears on their account.
To send a wire, call your bank or go to their online banking portal. Some banks require you to do this in person or by phone for security reasons. You'll provide the recipient's details, the amount, and the reason (optional but helpful). The bank will confirm the details back to you before sending. If anything is wrong—a typo in the account number, for instance—the money can end up in the wrong account and recovery is difficult.
Domestic wires usually arrive within one business day. International wires take longer and cost more, often $40 to $75, because they move through correspondent banks in other countries.
Peer-to-peer apps: instant for small amounts, no account number needed
Apps like Venmo, PayPal, Cash App, and Zelle let you send money to someone's phone number or email address without needing their account number. Most transfers are free for standard transfers (usually 1 to 3 business days) and instant or next-day if you pay a small fee.
The trade-off is that both people need to have the app, and there are usually daily limits—Venmo caps transfers at $299.99 per week for new users, though established users can send more. These apps are best for splitting bills, paying a roommate, or sending money to friends and family for small amounts.
Zelle is different because it's built into most major banks' apps and websites. If your bank offers Zelle, you can send money directly from your checking account to someone else's bank account using just their phone number or email. Zelle transfers are usually instant and free, with daily limits around $2,000 to $5,000 depending on your bank.
PayPal and Cash App hold the money in a digital wallet first—you can send it instantly to another user, but moving it to a bank account takes 1 to 3 business days. Venmo works the same way. All of these apps have fraud protection, but they're less regulated than banks, so read the terms carefully.
How to send money through your bank's website or app
Most banks let you send money three ways: through their website, mobile app, or by calling customer service. The website and app are fastest because you can do it anytime, and you'll see confirmation immediately.
To send money through your bank's website: log in, look for "Transfer Funds," "Send Money," or "Pay to Another Account." Enter the recipient's account number and routing number (or select them from your saved payees if you've sent to them before). Enter the amount and pick the date—today or a future date. Review the details and confirm. You'll get a confirmation number.
The mobile app works the same way. Some banks let you photograph a check instead of entering the account number, which is faster if you have a check from the recipient.
If you call, have the recipient's account number, routing number, and full name ready. The bank will confirm the details back to you and process the transfer over the phone. This takes longer but is useful if you're not comfortable with online banking or if you need to send a large amount that requires verbal confirmation.
What information you need to send money
For an ACH transfer or wire, you need the recipient's account number and routing number. The routing number is a nine-digit code specific to their bank and branch. You can find it on a check (it's the first nine digits at the bottom left), on the bank's website, or by calling the bank directly.
The account number is usually 10 to 12 digits and is also on a check (it's the second set of numbers at the bottom). Make sure you have the exact spelling of the recipient's name as it appears on their account—a typo can delay the transfer or send it to the wrong account.
For peer-to-peer apps, you only need their phone number or email address. For Zelle, you need their phone number or email. For wire transfers, you may also need the recipient's address and the name of their bank, depending on your bank's requirements.
What happens if the transfer goes to the wrong account
If you send an ACH transfer to the wrong account, contact your bank immediately. ACH transfers can sometimes be recalled within a day or two if the receiving bank hasn't released the funds yet. The process is called a "reversal," and it's not may provide—it depends on whether the receiving bank cooperates and how quickly you act.
Wire transfers cannot be reversed. Once the money leaves your bank, it's gone. If you sent it to the wrong account, you'll need to contact that person or their bank and ask them to return it. This is why wire transfers require extra care and confirmation.
For peer-to-peer apps, contact the app's customer service immediately. They may be able to cancel the transfer if it hasn't been claimed yet. If the money was sent to the wrong person, you'll need to ask them to return it or file a dispute through the app.
Limits, fees, and timing at a glance
| Method | Speed | Cost | Daily Limit | What You Need |
|---|---|---|---|---|
| ACH Transfer | 1–3 business days | Free | $10,000–$25,000 | Account number, routing number |
| Wire Transfer | Same day or next day | $15–$50 | Usually $10,000–$50,000 | Account number, routing number, full name |
| Venmo | Instant or 1–3 days | Free (standard) or $0.25–$3 (instant) | $299.99/week (new users) | Phone number or email |
| PayPal | Instant or 1–3 days | Free (standard) or $0.25–$2.99 (instant) | Varies by account | Email address |
| Zelle | Instant | Free | $2,000–$5,000 | Phone number or email |
| Check | 5–7 business days | Cost of check stock | No limit | Mailing address |
Frequently Asked Questions
Can I send money to someone at a different bank?
Yes. ACH transfers, wire transfers, and peer-to-peer apps all work between different banks. You don't need to use the same bank as the recipient. ACH and wire transfers require their account and routing number; apps require only their phone number or email.
How do I know if the money arrived?
Your bank will send you a confirmation number when you send the transfer. For ACH, check your account 1 to 3 business days later. For wire transfers, call the receiving bank or ask the recipient to confirm. For apps, you'll see a status update in the app itself—pending, sent, or delivered.
What if I don't have the recipient's account number?
Ask them for it directly, or use a peer-to-peer app if you both have one. You can also send a check if you have their mailing address. If they won't give you their account number, that's a red flag—legitimate recipients will provide this information.
Is it safe to give someone my account number?
Yes, if you trust them. Your account number alone cannot be used to withdraw money from your account—a thief would also need your routing number and your name. Never give out your PIN or online banking password. If someone asks for these, it's a scam.
Can I cancel a transfer after I send it?
ACH transfers can sometimes be cancelled within a few hours of sending, depending on your bank. Wire transfers cannot be cancelled once sent. Peer-to-peer app transfers can sometimes be cancelled if the recipient hasn't claimed the money yet. Contact your bank or app immediately if you need to stop a transfer.