Banking made easy: How to transfer money from one bank to another
Key takeaways
- Online bank-to-bank transfers are a straightforward and quick way to transfer money.
- Wire transfers are ideal for large sums of money or international transfers, but may incur additional fees.
- Third-party apps offer convenient and fast transfers between individuals.
- ACH transfers are suitable for recurring payments but may take longer to process.
- Consider transfer speed, fees, transfer limits, and security when choosing a transfer method.
In today’s financial world, transferring money between banks is a common task. Whether you're consolidating accounts, managing finances, or paying bills, knowing how to transfer money from one bank to another is important for effective financial management.
Fortunately, with the advancements in banking technology, this process has become increasingly streamlined and accessible.
This guide provides a clear overview of the different methods for transferring money between banks, helping you handle this process with ease and confidence.
Methods for transferring money
Online transfers (bank-to-bank)
For a convenient and often fast way to transfer money, online bank-to-bank transfers are the optimal solution. This method allows you to seamlessly move funds between your accounts at different banks from anywhere using your bank's online platform or mobile app.
Here’s how to transfer money from one bank to another online:
Linking external accounts
To initiate an online transfer, you'll first need to establish a connection between your accounts at different banks. This process typically involves providing the account and routing numbers for the external account you wish to link. Your primary bank will then verify the information and establish a secure connection, allowing you to transfer money between the linked accounts.
Completing a transfer
Once your accounts are linked, the actual transfer process is straightforward:
- Log in to your primary bank's online platform or mobile app.
- Navigate to the transfer or payment section.
- Select the linked external account as the recipient.
- Enter the desired transfer amount and any additional details or memos.
- Carefully review the details and confirm the transaction.
Depending on your bank's policies and the specific transfer details, the funds may be available in the recipient account instantly or within a few business days.
Online bank-to-bank transfers stand out as the easiest way to transfer money from bank to bank due to their accessibility, speed, and user-friendly interface.
Wire transfers
Wire transfers are electronic transfers of funds that occur directly between banks, often utilized for transferring large sums of money or sending funds internationally. They offer a secure and reliable method for moving substantial amounts, although they may involve additional fees compared to other transfer options.
Their processing time also varies. While wire transfers within the US typically take less than 24 hours to complete, international wire transfers may take a few business days.
To initiate a wire transfer, you'll typically need to provide the following information:
- Recipient's name and full address
- Recipient's bank name and address
- Recipient's account number
- Recipient's bank's routing number or SWIFT code (for international transfers)
It's crucial to double-check all the details before initiating a wire transfer, as wire transfers typically cannot be reversed and errors can lead to delays, complications, or funds being sent to the wrong account.
Third-party apps (Zelle, PayPal, etc.)
Third-party apps like Zelle, PayPal, and Venmo have become popular alternatives for transferring money between individuals and businesses. With their user-friendly interfaces and generally fast transfer speeds, these apps offer a convenient option for many users.
To use these apps, you'll typically need to link your bank account(s) to the app. This process usually involves providing your bank's login credentials or account and routing numbers. Once linked, you can initiate transfers directly from the app using the funds available in your linked account.
Can Zelle transfer money from one bank to another?
Yes, Zelle is specifically designed for transferring money between bank accounts at different institutions. It offers a convenient way to send money to friends, family, or other trusted individuals.
So, If you're wondering how to transfer money from one bank to another instantly, Zelle is one of the fastest options, as transfers are typically completed within minutes.
ACH transfers
ACH (Automated Clearing House) transfers are electronic transfers that utilize the ACH network to move funds between bank accounts.¹ They are commonly used for recurring payments, such as direct deposits for payroll, bill payments, or subscription services.
Many banks allow you to set up ACH transfers through their online banking platforms or mobile apps. You can also authorize merchants or service providers to initiate ACH transfers for recurring payments.
ACH transfers are known for their reliability and cost-effectiveness, although they generally take longer to process compared to other methods.
Processing time
The typical processing time for ACH transfers can range from one to three business days.
This timeframe allows for the verification and clearing of transactions within the ACH network. While not as instantaneous as some other methods, ACH transfers offer a secure and efficient way to handle recurring payments or transfers that don't require immediate availability of funds.
Transfers within the Raisin platform
Using the Raisin platform, it’s easy to open accounts across a network of banks and credit unions and manage them all from a single login. But what happens when you want to move funds between accounts offered by different financial institutions on the platform?
The Cash Account is set up to facilitate these transactions without needing to move funds through an external account, allowing for faster movements between different products on the platform.
In order to move funds, a withdrawal must first be made from the source account. Once these funds arrive in the Cash Account, a deposit can then be initiated to either another existing account or a new account within the Raisin platform.
For more information on the Cash Account, please click here.
Processing time
Transaction times for moving funds between products on the Raisin platform can vary based on whether deposits or withdrawals are initiated on time of day and day of the week. For more information on transaction times to, from, and within the Raisin platform, please click here.
Factors to consider
Transfer speed
When transferring money, time is often of the essence. Different methods, as detailed above, offer varying processing times, from instant transfers to those taking several business days.
Choosing the right method ensures your funds arrive when needed, whether you're paying bills, making a purchase, or supporting a loved one.
Fees
Transfer limits
Security
Always prioritize security when transferring money online. Use reputable services and transfer methods, and always be careful when sharing sensitive financial information. Ensure you're on a secure internet connection and avoid making transfers over public Wi-Fi.
Take charge of your financial future
Now that you're equipped to manage your money transfers effectively, why not further enhance your financial knowledge? Explore our banking guides for a wealth of tips and information to empower you to make informed financial decisions.
The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.
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The Raisin name and logo are trademarks of Raisin SE. All other trademarks, logos, marks, and brand names are the property of their respective owners.
*APY means Annual Percentage Yield. APY is accurate as of April 26, 2026. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00.
Raisin is not an FDIC-insured bank, and FDIC deposit insurance only covers the failure of an insured bank.
Raisin is not an NCUA-insured credit union. NCUA deposit insurance only covers the failure of an insured credit union.
Raisin does not hold any customer funds. Customer funds are held in various custodial deposit accounts. Each customer authorizes the Custodial Bank to hold the customer’s funds in such accounts, in a custodial capacity, in order to effectuate the customer’s deposits to and withdrawals from the various bank and credit union products that the customer requests through Raisin.com. The Custodial Bank does not establish the terms of the bank or credit union products and provides no advice to customers about bank or credit union products offered by the applicable bank or credit union through Raisin.com. Each customer also authorizes the Service Bank to move funds among the various banks and credit unions at the customer’s request. First International Bank & Trust (FIBT), Member FDIC, is the Service Bank. Bell Bank and Starion Bank, each Member FDIC, are the Custodial Banks.
†Based on $250,000 in FDIC or NCUA insurance coverage per insurable category of ownership at each partner bank or credit union on the Raisin platform (each a "Product Bank"), when aggregated with all other deposits held by you at such Product Bank and in the same insurable category. Deposits made through Raisin will be eligible to receive deposit insurance from the FDIC or the NCUA (each a "Deposit Insurer") in accordance with and up to the maximum amount permitted by law at each Product Bank. Raisin is not a bank or credit union and does not hold any customer funds. Funds are held at FDIC-insured banks and NCUA-insured credit unions. Deposit insurance covers the failure of an insured bank or credit union. Certain conditions must be satisfied for pass through deposit insurance coverage to apply. Customers may choose to deposit funds with identically registered accounts at different Product Banks on the Raisin platform to be eligible for Deposit Insurer coverage up to $10 million for individual accounts and $20 million for joint accounts when at least 40 Product Banks are utilized. Please be aware, however, that any deposits you have at a Product Bank, whether through the Raisin platform or outside the Raisin platform, that you may hold in the same capacity (such as in an individual capacity or joint capacity) count toward the applicable Deposit Insurer's deposit insurance maximum amount, and any such amounts that you hold in the same capacity at a Product Bank that exceed the maximum insurance coverage by the applicable Deposit Insurer will not be insured. For more information on FDIC deposit insurance, please see here. For more information on the NCUA share insurance fund, please see here. You are solely responsible for monitoring the amount of funds you have on deposit at each a Product Bank, whether through the Raisin platform or outside the Raisin platform, to confirm that the deposits you hold in the same capacity at each Product Bank do not exceed the maximum deposit insurance coverage provided by the applicable Deposit Insurer.