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How to Transfer Money From One Bank to Another (6 Ways)
Here's how to transfer money between banks quickly, safely, and with minimal fees.
September 1, 2026
Here's how to transfer money between banks quickly, safely, and with minimal fees.
September 1, 2026
If you need to transfer money to another bank, your options range from free (but slower) to fast (but sometimes expensive).
The best method depends on how quickly the money needs to arrive, how much you're sending, and whether the transfer is domestic or international.
In this guide, I'll explain what you need before you start, how to choose the right method, and the six most common ways to transfer money between banks — including ACH, wire transfers, real-time payments, peer-to-peer apps, and checks — with typical steps, costs, and timelines for each.
Before you start, gather the recipient's information so you're not stopped mid-transfer:
For most bank transfers (ACH, wire, external transfer): the recipient's bank routing number and account number. You can find a routing number on a check, in a bank's mobile app, or by searching "[Bank Name] routing number."
For P2P apps like Zelle: just the recipient's phone number or email address linked to their bank account.
For wire transfers specifically: the recipient's full legal name, address, and their bank's routing/SWIFT (for international) details.
Double- and triple-check every number before you hit send. Most bank transfers — especially wires — are difficult or impossible to reverse once they're processed, even if you sent the wrong amount or the wrong account.
Which method is "best" depends on what you're optimizing for:
Speed matters most when you're covering a time-sensitive payment — rent due today, an emergency, a real estate closing. Wire transfers and real-time/instant transfers move money fastest.
Cost matters most for routine or large transfers, where a flat fee or percentage-based fee adds up. ACH is typically free and is the default choice when you're not in a hurry.
Convenience matters most for transfers you make often. A phone number or email (Zelle) is easier to remember than routing and account numbers.
Security matters most when you're sending a large sum or dealing with a recipient you don't know well. Traditional bank-to-bank channels (ACH, wire) generally offer more fraud protection and recourse than P2P apps.
Automated Clearing House (ACH) transfers are like the unsung heroes of electronic banking. They allow you to move money between different banks with ease, making them perfect for direct deposits and bill payments.
ACH transfers can be next-business-day in many cases, but timing depends on your bank's cutoff time, weekends/holidays, and whether it's a first-time transfer or flagged for review. Many banks also offer a faster, fee-based same-day ACH option that can move funds within hours instead of days — ask your bank whether it supports this and what it costs.
Speed: Often 1 to 3 business days (sometimes same/next business day depending on bank processing).
Costs: Usually free for both sending and receiving banks.
Accessibility: Available through most banks; easy to initiate online or via mobile banking apps.
Works for: Small to medium amounts, like payroll or paying bills.
Need to send a larger sum? Wire transfers are your go-to option.
Wire transfers are designed for large, time-sensitive payments. Domestic wires are often same-day if sent before your bank's cutoff time (business days only). International wires can take longer due to intermediary banks, compliance checks, and time zones.
Speed: Domestic- same day (if submitted before cutoff), otherwise next business day; International- often 1–5 business days.
Costs: Expect fees ranging from $20 to $50; international transfers could be even pricier.
Accessibility: Initiated at banks or credit unions; not available on weekends or holidays.
Works for: Larger sums of money—think real estate purchases or significant gifts.
Note: Wire transfers are typically final and difficult to reverse once processed, so double-check recipient details before sending.
Some banks support real-time payment networks that can move money within minutes, often 24/7, including weekends and holidays. Availability depends on whether both banks participate and how your bank labels the feature (for example, "instant transfer" or "real-time transfer").
Speed: Minutes.
Costs: Varies by bank (sometimes free).
Accessibility: Depends on both banks supporting the same real-time network.
Works for: Fast bank-to-bank transfers when supported.
Several third-party apps make it easy to send money directly to other bank accounts. These apps all operate a bit differently but offer payment and transfer services to individuals and businesses. Here's how they compare:
PayPal: With PayPal, you can send money between users and transfer funds to and from bank accounts by linking a bank account or debit card. While PayPal itself is free for standard bank transfers, which can take several days. Instant transfers typically carry a percentage fee (often around 1.75%) and may have minimum/maximum fees depending on the platform and transfer type.
Zelle: Zelle is typically available through participating banks' and credit unions' apps. It's usually free to use, and transfers can arrive in minutes when the recipient is enrolled. (Note: the standalone Zelle app no longer supports sending/receiving money.)
Venmo: Owned by PayPal, Venmo allows transfers between its users once you connect a bank account or debit card. Standard transfers are free and take a few days, but instant transfers cost 1.75%, with fees ranging from $0.25 to $25.
Cash App: This app enables money transfers from your debit card to other users. Link your card, use a phone number or $cashtag to send money, and the recipient can deposit it into their bank. Cash App doesn't charge for standard transfers, but instant transfers come with a 0.5%-1.75% fee, with a minimum of $0.25.
If you use Apple Pay day to day, see our guide on how to transfer Apple Cash to your bank account for the exact steps.
So, in general, here's how third-party payment platforms hold up:
Speed: Instant transfers are available; standard transfers may take a few days.
Costs: Generally free for standard transfers; instant options can incur fees ranging from 0.5% to 1.75%.
Accessibility: User-friendly and accessible via mobile apps; requires linking your bank account or debit card.
Works for: Quick peer-to-peer transactions and smaller amounts.
Checks might feel old-fashioned, but they're still a legitimate way to move money between banks, especially when the recipient can't or won't use electronic transfers.
You can write a personal check and mail or hand-deliver it, or get a cashier's check from your bank for added security on larger amounts — cashier's checks are guaranteed by the issuing bank rather than drawn against your personal balance, which makes them a common choice for down payments or large one-time payments. Money orders work similarly and are available at banks, credit unions, and many retail locations.
Speed: Clearing times are similar to the mobile check deposit timelines below and vary by bank and account history.
Costs: Personal checks are typically free; cashier's checks usually carry a bank fee — check with your bank for its exact rate.
Accessibility: Requires mailing, hand delivery, or an in-person bank visit for a cashier's check.
Works for: Recipients without electronic transfer options, or situations calling for a bank-guaranteed payment.
If checks are your preferred payment method, mobile check deposits offer a convenient alternative. Most banks now allow you to deposit checks using your smartphone by taking pictures of them. However, this method may take a few days for the funds to clear.
Speed: Typically takes 3 to 5 business days to clear.
Costs: Usually free, depending on your bank's policies.
Accessibility: Requires a smartphone and a compatible banking app.
Works for: Depositing checks without needing to visit a bank branch.
You have several methods to choose from when sending money internationally, including wire transfers and payment apps. Each option comes with distinct fee structures, limits, and transfer times:
Wire transfers:
Speed: Can take up to 5 business days.
Costs: Fees can range from $20 to $50 or more.
Accessibility: Requires bank involvement.
Payment apps:
Speed: Varies based on location.
Costs: Fees vary widely depending on the destination.
Accessibility: Often easier, but depends on availability in both countries.
Works for: Sending money abroad or paying international bills.
If you need physical foreign currency rather than a bank-to-bank transfer, see our guide on where to exchange foreign currency.
Transferring money between banks can happen instantly or take a few business days, depending on the type of transfer you choose. Here's a quick comparison of different types of bank-to-bank money transfers—and how long they might take:
Type of Transfer | Typical Transfer Time | Typical Fees |
|---|---|---|
ACH | Up to 3 business days | Usually none |
Wire transfer | Domestic: same day (before cutoff) or next business day. International: 1–5 business days | Commonly $15–$50+ depending on bank |
Real-time bank transfer (if supported) | Minutes (often 24/7) | Varies (sometimes free) |
Payment app (standard) | 1–3 business days | Free |
Payment app (instant) | Minutes | Percentage fee (often ~0.5%–1.75%) |
Mobile check deposit | Often next day, can be 2–5 business days with holds | Usually none |
There are several fees you may be charged for transferring money from one bank to another. Here are a few to watch out for:
Instant transfer fees: Most payment apps don't charge for standard transfers, but instant transfers typically cost 0.50%–1.75% of the amount sent.
Wire transfer fees: Wires usually incur a sending fee, and some banks charge a fee to receive one too. Fees vary by institution and transfer type (domestic vs. international).
Same-day ACH fees: Some banks charge an added, bank-specific fee for faster same-day ACH processing.
Cashier's check fees: Banks typically charge a flat fee to issue a cashier's check, which varies by institution.
Currency conversion: International transfers convert your currency to the recipient's local currency, usually with a percentage-based fee on top.
If you manage accounts at multiple banks, you might need to move money between them. To simplify your banking, consider comparing online banks that make transferring funds easier and more efficient. Not sure how many accounts you actually need? Our guide on how many bank accounts you should have can help you decide. And if you're moving your funds because you're leaving your old bank entirely, check out how to switch banks for a step-by-step walkthrough. Here are a few common methods:
Wire transfer: You can use a wire transfer to move funds between your accounts at different banks. Wire transfers typically offer higher limits and are processed on business days, but you may be charged fees on both the sending and receiving ends.
ACH transfer: Many banks allow you to initiate an external transfer through ACH to move money to another bank account you own. This can be done manually or through a service. ACH transfers are usually free but may take a few days to fully process.
Third-Party Payment Platforms: If both of your banks support the same third-party payment platform, you can use it to transfer money between your accounts. This option often provides faster transfers, though some platforms may charge fees for instant transfers.
Most transfer methods come with daily or weekly limits on how much you can send. If you need to move a large amount, here are some options that offer higher limits and reasonable fees:
Bank wire transfer: Banks and financial institutions typically allow large sums to be sent through wire transfers. It's a secure option with a flat fee, usually $50 or less. This method works well for down payments, financial gifts, or big purchases.
Wire transfer apps: Some apps let you transfer large sums with lower fees, even for high amounts. These platforms allow transfers of tens of thousands of dollars while keeping fees more reasonable than other payment options. For security, you might need to provide extra documentation to verify your identity and the recipient's details.
Before sending a large amount, ask your bank about:
Daily transfer limits and how to raise them
Cutoff times for same-day wires
Whether the recipient requires specific wire details (bank name/address, SWIFT/IBAN for international)
Fraud verification steps (large transfers often trigger extra checks)
Bank transfers don't always go smoothly, and there might be a lot you're unsure of with money transfers. Here are a few common issues you may encounter:
Sending the wrong amount: If you accidentally transfer the wrong amount, fixing the issue may take some time. For overpayments, you'll need to contact the receiving institution and request a refund for the excess. Banks often place holds on larger transfers, which can help resolve this issue more smoothly. If you send too little, you'll need to make a second transfer to cover the difference.
Sending on a weekend or holiday: Transfers made on weekends or banking holidays may experience delays. Transfers initiated on weekends or bank holidays may not begin processing until the next business day. The delay depends on the transfer type, cutoff times, and how many non-business days are in between.
Payment delayed: Various factors can delay a transfer, such as banking holidays, security holds, or fraud prevention checks. You might be asked to provide additional information or verify your identity to move things along. In some cases, the recipient just has to wait a few days for the funds to clear.
Entering the wrong bank details: Mistyping bank details can cause your transaction to be rejected or sent to the wrong account. In such cases, you'll need to work with both your bank and the receiving bank to correct the error. Resolving this may take some time, especially if fraud concerns arise.
If your bank supports real-time transfers, that's often the fastest. Otherwise, a domestic wire can be same-day if sent before cutoff.
At minimum, the recipient's bank routing number and account number. For P2P apps like Zelle, a linked phone number or email address is enough.
Not necessarily. Many ACH transfers arrive in 1–3 business days, and timing depends heavily on cutoff times and weekends/holidays.
Usually not. "Instant" often means you can withdraw to a debit card quickly, but the underlying bank movement and availability may still vary.
Jacob Wade is a personal finance expert at BestMoney.com, focusing on banking products, loans, and financial apps. His work has been featured in Forbes Advisor, Investopedia, and Time. A former enrolled agent with CPA firm experience, Jacob also shares his knowledge of credit card rewards and travel hacking.
