It may take a few hours or a few business days to complete set-up this way. The first bank will then send two test deposits for a few cents each and you’ll have to verify the amounts once those appear in the second account.
If that’s not an option, you’ll have to share the receiving account’s routing and account numbers. You may be able to do this quickly by signing into your second bank’s online account to confirm ownership. To start, you’ll initiate the connection with the account where you want to transfer the money from and add the other bank account as a new connection or link. Once you do, you can use the Automatic Clearing House (ACH) network to move money from one account to the other. Set Up a Bank-to-Bank ConnectionĪ simple way to transfer money between two of your own accounts is to set up an electronic connection between the two. Here are the best ways to transfer money between banks, whether you bank in-branch or online. The bank you have can also be important, as you may get slapped with a fee. The best option can depend on whether you want to transfer money between two accounts you own, or transfer money to someone else. And yet, figuring out how to transfer money from one bank to another without paying a fee can be surprisingly difficult. We live in an age of mobile-only bank accounts and online budgeting apps.
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