The most common ways to deposit money into an online savings account
You can deposit money into an online savings account through an ACH transfer from another bank account you own, a wire transfer, a check deposit by mail or mobile app, or a debit card transfer if the online bank offers it. Most people use ACH transfers because they are free and work between any two banks — you just need your account number and routing number from the online bank. Wire transfers are faster but cost money, usually $15 to $30. Check deposits by mail take 5 to 10 business days. Mobile check deposit, where you photograph a check through the bank's app, is faster — typically 1 to 3 business days — but not all online banks offer it.
The method you choose depends on how quickly you need the money to arrive and whether you have a physical check or just want to move money from a checking account. If you are moving money from your own account at another bank, ACH is almost always the right choice. If you have a paper check, mobile deposit is fastest if available; otherwise, mail it in.
Key Takeaways
- ACH transfers from another bank account you own are free and work between any two banks, but take 1 to 3 business days.
- Wire transfers arrive the same day or next business day but cost $15 to $30 and require you to provide the online bank's wire instructions.
- Mobile check deposit through the bank's app is faster than mailing a check — usually 1 to 3 business days — but not all online banks offer it.
- You will need your online bank's routing number and your account number to set up an ACH transfer from another bank.
- Some online banks let you deposit money by debit card, but this method often has lower limits and may carry a small fee.
Setting up an ACH transfer from another bank
Log into your online savings account and look for a link labeled "Add Account," "Link Account," "External Transfer," or "Move Money." You will enter the routing number and account number of the bank you are transferring from. The online bank will then send two small test deposits (usually under $1 each) to that account within 1 to 2 business days. You then log back into your online savings account and confirm the exact amounts of those deposits — this proves you own the account you are linking.
Once confirmed, you can transfer money from that linked account to your online savings account. The transfer itself takes 1 to 3 business days. Some online banks let you transfer the same day you initiate it, but most hold the money for at least one business day before it moves. Check your online bank's website or app for the exact timing — it is usually listed under "Transfer Times" or in the FAQ.
If you are linking an account at a large national bank like Chase, Bank of America, or Wells Fargo, the process is usually the same. If you are linking a credit union or a smaller regional bank, it may take an extra day or two because the routing number takes longer to verify.
Wire transfers for faster deposits
A wire transfer moves money the same business day or next business day, making it the fastest option if you need the money quickly. To send a wire, you contact your current bank and give them the online bank's wire instructions — this includes the online bank's routing number, your account number at the online bank, and sometimes an intermediary bank code. Your bank will charge you a wire fee, typically $15 to $30 for a domestic wire.
You can find the online bank's wire instructions on its website, usually under "Wire Transfer Instructions" or "How to Fund Your Account." Some online banks list them right on the deposit page. Write down or print the exact information — banks are strict about accuracy, and a wrong digit can send your money to the wrong place. If you are unsure, call the online bank's customer service line and ask them to confirm the wire details before you initiate the transfer at your current bank.
Wire transfers are permanent once sent, so the online bank cannot reverse them if something goes wrong. This is why accuracy matters. If you wire money to the wrong account by mistake, you will have to contact the receiving bank and ask them to return it — a process that can take weeks.
Depositing checks by mail or mobile app
If you have a paper check, you can mail it to the online bank's deposit address or photograph it through the bank's mobile app if that option is available. Mobile check deposit is faster — most banks process it within 1 to 3 business days. Mailing a check takes longer because the bank has to receive it first (3 to 5 days by mail), then process it (1 to 2 more days), so plan for 5 to 10 business days total.
To use mobile check deposit, open the bank's app, find the "Deposit Check" or "Mobile Deposit" option, and photograph both the front and back of the check. The app will show you the amount it read from the check — verify this is correct. Write "Mobile Deposited" on the back of the physical check and keep it for your records for at least 30 days in case the bank needs to verify it. Do not deposit the same check twice, either by mail and mobile app or through two different banks.
If you are mailing a check, write your account number on the back of the check and include a deposit slip if the bank provides one. Mail it to the address listed on the bank's website under "Mailing Address" or "Check Deposit Address." Use a tracking method like certified mail if you are depositing a large amount, so you have proof the bank received it.
Debit card transfers and other deposit methods
Some online banks let you fund your account by debit card — you enter your debit card number and the bank charges it immediately. This is convenient but often comes with limits: many banks cap debit card deposits at $1,000 to $5,000 per transaction or per day. A few banks charge a small fee for debit card deposits, usually 1% to 2% of the amount. Check your online bank's deposit page to see if this option is available and what the limits and fees are.
A few online banks also accept deposits through third-party payment apps like PayPal or Venmo, but this is less common. If your online bank offers it, the money usually takes 1 to 3 business days to arrive, the same as an ACH transfer. This method is useful if you received money through one of those apps and want to move it to savings without withdrawing it to your checking account first.
Cash deposits are not possible at most online banks because they do not have physical branches. If you need to deposit cash, you would have to deposit it at your current bank first, then transfer it to the online savings account using ACH or wire transfer.
What to do if a deposit does not arrive
If you initiated an ACH transfer and it has not arrived after 3 business days, log into your online savings account and check the transfer status. Most banks show whether a transfer is "pending," "processing," or "completed." If it shows as completed but the money is not in your account, contact the online bank's customer service — there may be a delay on their end, or the transfer may have been rejected for a technical reason.
If the transfer shows as "failed" or "rejected," the online bank will usually send you an email explaining why. Common reasons include a wrong routing number, a closed account at the sending bank, or insufficient funds. Fix the problem and try again. If you sent a wire transfer and it has not arrived after one business day, call the online bank and provide the wire confirmation number from your current bank — they can trace it.
If you mailed a check and it has been more than 10 business days, contact the online bank with the check amount and the date you mailed it. Ask them to search their records. If they cannot find it, you may need to stop payment on the original check at your current bank (which costs $25 to $35) and mail a new one or use a different deposit method.
Timing and limits for deposits
Most online banks process deposits during business hours, Monday through Friday. If you initiate an ACH transfer on a Saturday or Sunday, it usually does not start processing until Monday. Holidays also delay transfers — a transfer initiated on a Friday before a Monday holiday may not arrive until Wednesday or Thursday. Wire transfers sent after 2 or 3 p.m. Eastern Time may not go out until the next business day, depending on the bank.
Online banks often set daily or monthly limits on how much you can deposit. These limits vary widely — some banks have no limit, while others cap deposits at $10,000 per day or $50,000 per month. Check your bank's terms or contact customer service to find out what your limits are. If you are depositing a large amount, you may need to split it across multiple days or multiple transfer methods to stay within the limits.
Frequently Asked Questions
How long does it take money to show up after I transfer it from my checking account?
ACH transfers usually take 1 to 3 business days. The money may show as "pending" in your online savings account within a few hours, but it is not available to withdraw until the transfer is complete. Wire transfers are faster — usually the same business day or next business day — but cost $15 to $30.
Do I need to give the online bank my current bank's password to set up a transfer?
No. Never give your password to anyone. To link an account, you provide only the routing number and account number. The online bank sends two small test deposits to prove you own the account, and you confirm the amounts. This is the secure way to link accounts.
Can I deposit cash directly into an online savings account?
No, because online banks do not have physical branches. You must deposit cash at your current bank first, then transfer it to the online savings account using ACH or wire transfer. Some online banks partner with retail locations like Walmart or CVS for cash deposits, but this is rare — check your bank's website to see if this option is available.
What happens if I deposit the same check twice by accident?
The bank will catch the duplicate and reject the second deposit, or it will process both and then reverse one. Either way, you will not end up with double the money. If you deposited by mobile app and then mailed the physical check, write "Mobile Deposited" on the back of the check so the bank knows not to process it again.
Is there a limit to how much I can deposit at one time?
Most online banks set daily or monthly deposit limits, but these vary. Some have no limit, while others cap deposits at $10,000 per day or $50,000 per month. Check your bank's website or contact customer service to find out your specific limits. If you are depositing a large amount, you may need to split it across multiple transfers.