How to Transfer Money to Someone Else’s Bank Account

how to transfer money to someone else's bank account

A bank account can help you perform many kinds of transactions such as bill payment, direct deposits, check deposits, and other kinds of money transfers. If you do not know how to transfer money to someone else’s bank account, you are missing out on the equation since money transfer is one of the primary importance of a bank account.

Nowadays, banking has become very easy. You can transfer money online just from the palm of your hand using a smartphone. Gone are the days where one had to walk to the bank to send someone money. What if the funds are to deal with an emergency issue? By the time the money reaches the recipient, damage may already have occurred.

Furthermore, you will notice that it is not a must to have a bank account so that you can transfer money to someone’s bank account. Other platforms allow you to move money to a bank. They include PayPal, Western Union, MoneyGram, Payoneer, Cash App, World Remit, and Venmo. Some of these platforms operate across the borders, while others work only within the US.

How long does it take to move money to a bank account?

Money transfer speed to a bank account varies from one platform to another. For example, when transferring money from your bank account to another account of the same bank, the funds may arrive instantly or after a few minutes.

However, when transferring money from your bank to an account of a different bank, it may take several days for the money to reflect in the recipient’s account. The second bank has to take time and check whether the money is coming from a legitimate source and that the sender has the money they requested to transfer. The communication between the two banks thus delays the transfer.

When using PayPal to move money to a bank account, money from PayPal takes around 3-5 days to reflect in the receiving bank account. The reasons behind the delay are just the ones I mentioned above. The bank would like to prove whether the PayPal account balance is sufficient to fund the transaction before releasing the funds to the recipient and verifying that the source is legal.

Paypal also allows instant PayPal to bank transfers where the money reaches the account within 30 minutes but at a fee. However, the feature is only available for users in the US. Cash App and Venmo also have instant money transfer features that ensure that money does not delay reaching the intended bank account.

How to move money to someone else’s bank account

how to transfer money to someone else's bank account

Are you wondering how you can transfer money from your bank account or any other relevant platform to another person’s bank account? There are various ways you can move money to a bank account. The most common ones include the following.

1) Bank transfers

Bank transfers may be account to account transfers within the same bank or bank to bank transfers when the recipient is from a different bank. Let us see how both work.

i) Transfer from one account to the other within the same bank

You can transfer money from your bank account to another person’s account of the same bank. You only require the recipient’s account number and maybe their full names just for confirmation. If you are transferring money at a bank’s branch, you will need to provide your identification details to the bank officers and the recipient’s account details. You will also need to sign a document to allow the transfer.

In most cases, the recipient will receive the money within the same day. You can also use the online transfer system, where you only need to log into your bank account online and send the money to the recipient. You still require their account number to transfer money.

The online money transfer is fast and also saves time. Usually, money reflects instantly.  Some people worry about giving out their numbers to others, thinking that someone may use their account number to withdraw money from their bank account. I saw a question somewhere which went as “can someone withdraw money with my account number?”

The answer to this question is no. There is no way someone can use your account number only to withdraw money from your bank account unless they have other details such as online logging credentials. Also, make your signature is challenging to guess since someone may access your identification document and withdraw over the counter. However, it is not that easy since some banks are now embracing biometric recognition to authorize withdrawals.

ii) Bank to bank transfers

If you transfer money to someone else’s account of a different bank, you need the recipient’s account and routing number. The routing number identifies the receiving bank. It is like an address to the bank in terms of money transfers. The account number then identifies the exact recipient of the money.

You can visit your bank’s branch to transfer money with the help of the bank officers, or you can log into your bank account online to transfer. When moving money from one bank to another, you can do so by setting up a direct deposit to the receiving account.

If you are transferring money internationally from your bank to another bank in another country, you can use wire transfer which is a bit faster as compared to direct deposit. Wire transfer is very effective when transferring money in scenarios that involve different currencies.

2) Using mobile money wallets

There are various mobile money wallets that support money transfers to a bank account. These include PayPal, Venmo, Cash App, and Payoneer. Let’s look at how you can transfer money using some of the platforms.

i. PayPal

PayPal is a giant online money transfer platform that operates in the whole world. The biggest beneficiaries of PayPal services are the freelancers who receive their payments via the platform. Some businesses also accept payments for goods and services through PayPal.

If you have money in your PayPal account, you can transfer it to someone’s else bank account. However, the recipient should have a PayPal account that links to their bank account. It is important to note that PayPal does not allow you to link someone’s else bank account to your PayPal account. Therefore, the recipient will receive the funds from your PayPal account and then transfer them to their bank account.  You can thus indirectly transfer money to your friend’s bank account via their PayPal account.

PayPal is also a useful platform to transfer money from other sites that do not allow bank transfers. For example, if you know how to transfer money from Netspend to PayPal, you can easily move money from your Netspend account to your bank account through PayPal.

ii. Payoneer

Payoneer allows you to add someone’s else bank account to your account. You must explain why you add the other person’s bank account details and not your bank account. Assuming that you added the account some days ago and that Payoneer verifies the account, you can move your funds to the recipient’s bank account online.

Payoneer to bank account transfer takes between 1-3 days to complete. When moving money from Payoneer to a bank account, the steps below are essential.

  • Log into your Payoneer account.
  • Navigate to Withdraw
  • Select withdraw to Bank Account
  • Choose the balance you want to move money from
  • Choose the bank account to withdraw funds to.
  • Enter the amount you want to withdraw
  • Enter a description(optional)
  • Review and withdraw

iii. Cash App

Cash App is a money app from Square. You can move money from Cash App to your bank either instantly or using the standard model. For instant money transfers, you have to pay fees, while the standard transfer does not require you to pay fees at all.

Instant transfer ensures that the funds reflect in your account within the shortest time possible. You have to pay 1.5% of the transaction amount. Assuming that you have already added the recipient’s bank to Cash App, you can transfer money from Cash App to a bank account by following the steps below.

  • Tap the Balance on your Cash App screen.
  • Tap Cash Out.
  • Choose the amount and hit Cash Out.
  • Select your preferred deposit speed.
  • Use your PIN or Touch ID to confirm the transaction.

3) Use money transfer companies

Various money transfer companies operate both domestically and internationally. These include WorldRemit, Skrill, TransferWise, Western Union, and MoneyGram.

i) WorldRemit

WorldRemit supports over 90 currencies of the world. It also operates in 150 countries worldwide and is a suitable platform to send money to international bank accounts. Apart from the bank deposits option, the company also offers other ways of collecting money, such as cash pickups and mobile money. You can therefore send money to another person even if you do not have a bank account.

Even though WorldRemit has low transfer fees, the exchange rates may make the transfer a bit expensive. However, it is a secure and faster transfer method since funds reflect within minutes. You can transfer money to your account as follows.

  • Select  ‘Bank Deposit’ service and select the bank to pay money.
  • Choose the amount of money to transfer.
  • Enter the recipient’s bank details and allow the transfer.

You will get an SMS notification once the transfer is complete. The recipient will receive the notification as well.

ii) Skrill

Skrill works with over 120,000 online merchants worldwide and is a secure way to transfer money to someone else’s bank account. It supports numerous currencies of the world, and you can be sure that your transfer will go through successfully. The steps below are necessary to transfer money from Skrill to a bank account.

  • Log into your account.
  • Go to ‘Send’
  • Choose the “send money to a bank account” option.
  • Select the country and currency.
  • Enter the amount to send.
  • Select the payment method.
  • Enter your details.
  • Enter your recipient’s details
  • Confirm the amount and complete.

iii) Western union

If you have an active account with Western Union, you can transfer money to a bank account. Western Union is secure and takes the shortest time possible for the funds to reach the recipient. To transfer money via Western Union, the steps below are essential.

  • Login to your account
  • Choose the amount to transfer and the destination
  • Enter the recipient’s details
  • Enter the payment method. You can use your payment card or bank account.
  • Confirm and send. Once you confirm, the money will reach the recipient within a short time.
  • Track your transaction. You can follow the movements of your funds to see when they reach the recipient.

iv) MoneyGram

MoneyGram is also a trustworthy company to transfer money to someone’s else bank account. MoneyGram is available in over 50 countries around the globe. You can transfer money in the app, over the web, or at a physical location. To transfer funds from your MoneyGram account to someone else’s bank account, follow the steps below.

  • Log into your MoneyGram account.
  • Select a recipient or send to a new person
  • Select source of funds. It can be your bank account or payment card
  • Choose  ‘Account Deposit’ or ‘Direct to Bank Account’
  • Enter the recipient’s information. These include the full name and their bank account details.
  • Review and send

Can I use a debit, credit, or prepaid card to transfer money to a bank account?

Some cards allow you to transfer money to bank accounts online. However, other card issuers only allow a bank to the card account transfer but not a card to bank transfer. For example, to transfer money from Netspend to a bank account, you will need to use PayPal since Netspend does not allow transfers to a bank. It means that the money will take several days to reach the receiving account.

Bottom line

There are various ways you can use to transfer money to someone else’s account. The most common transfers are the account to account transfers within the same bank. Bank-to-bank transfers are also common, although the process takes a bit longer to complete. One can transfer money to someone else either domestically or internationally.  You can do money transfers either online or at a physical branch.

Spencer Tierney is a writer and expert on certificates of deposits at His work has been featured by USA Today, MSN, SF Gate, the Los Angeles Times, NerdWallet and more. He earned a bachelor’s degree in English at UC Berkeley.