How to Transfer Money Via ACH or EFT
- 1). Gather the information you need to make the money transfer. You will need your account number and routing number, as well as the name on the recipient's account and the recipient's account number and routing number. In addition, you will need the name and address of the recipient's bank.
- 2). Set up the transfer. You can arrange the transfer by visiting your bank and filling out a transfer request with the appropriate account information. Some banks also allow their customers to set up transfers online. There are fees for electronic transfers; these costs vary from bank to bank.
- 3). Track your transfer. Transfers to accounts within the same bank may be processed the same day, while transfers to outside banks can take several days. Although processing times vary, your bank can tell you what to expect. Some banks use transfer codes that allow you to track your transaction. In other cases, you may need to simply keep in touch with the recipient or the recipient's bank to verify receipt of your funds.
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