How to Send Money Online From Bank to Bank

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Transferring money online between two banks is a simple process that usually takes two to four days to complete. Transfers can happen between savings, checking, money market and investment accounts and may involve a fee, although some banks perform the service gratis. In order to do this, it's only necessary to have an online account at the sending bank.

Step 1

Access your online banking account for the sending institution using your login information.

Step 2

Find the link to set up bank-to-bank transfers. Sometimes, this is located in the site's sidebar. Other times, it may be located under "Accounts" or "Transfers."

Step 3

Enter the information for the receiving bank account. Fill in a name for the account (i.e. State Savings Bank Checking Account), a routing number and an account number. Be extremely careful to get these correct, since one wrong number could send your deposit to a stranger's account.

Step 4

Read the legal agreements affiliated with the bank's transfer policy. Some institutions charge a nominal fee for every transfer, or can hold your money for a specified amount of time. Be clear on the fine print in order to avoid problems later.

Step 5

Wait for verification. Two popular methods include instant security question verification and small deposit verification.

With security question verification, the receiving bank will send security questions through the sending bank's platform; in order to link the accounts, all questions must be answered correctly. The user selects these questions during the online account set-up process.

For deposit confirmation, the sending bank deposits two small amounts of money in the receiving account. When the deposit registers, the customer comes back to the sending bank's site and enters the two deposit amounts in the security form. If they match the sent amounts, the accounts are linked. This verification process works for those with an online account for the sending bank only.

Return to the site and complete this final verification process.

Step 6

When the accounts are verified, enter the transfer section of the sending account again. Select "Bank-to-bank transfer."

Step 7

Enter the amount of the transfer and follow the prompts to select the receiving bank account. Select "OK" to check that all information is correct, then finish the transaction by pressing the "OK" or "Done" button.

Step 8

After linking the accounts, check your email for confirmation. If you don't receive an email, call the bank to make certain that everything worked out. The representative should be able to assist if there are problems.


Be patient when doing an online transfer. According to Debbie Dragon of the website Deposit Accounts, "The online banking industry has a 'three-day good funds model' policy where transfers will typically take between two and four days. The banks want to be sure the money is really there and available before they let the receiver use the money--this is why they don't make the funds available immediately."


Be careful with balances during the transfer period. Some banks may not take the transfer amount out of the account until the transaction logs into the system, so ledger amounts may not be correct. Watch out for possible bounced checks if this is your bank's policy.

Things You'll Need

  • Bank accounts at two different institutions

  • Online bank account access for the sending bank

  • Receiving account routing and account numbers