Recently, a friend asked me how to transfer funds between banks most conveniently, so I remembered I’ve tried quite a few methods myself, so I might as well summarize them.

Honestly, transferring funds from one bank to another is really not that complicated anymore. The fastest method I’ve used is transferring between accounts within the same bank, which is basically instant, and usually free. For example, I have both a checking account and a savings account at a certain bank, just logging into the app is enough.

If you want to transfer to an account at a different bank, the steps are a bit more involved. First, you need to add the recipient’s account information on the sending bank’s app or website, including the routing number and account number. Then, the bank will verify that this account is indeed yours; they usually do this by depositing two small amounts into that account, and after you confirm receipt, you enter the amounts. The whole process generally takes 1 to 2 business days, but afterward, you can transfer funds anytime.

For large sums, wire transfer is an option, usable both domestically and internationally. The downside is that the fees are not cheap, usually $30 to $75, and international transfers are more expensive. The advantage is speed—funds typically arrive within a day.

I’ve also tried a few other methods. The most traditional is writing a check, which is slow but reliable. Nowadays, more popular are P2P apps like Venmo, Zelle, and PayPal, which only require the other person’s phone number or email to transfer funds from one bank to another, many of which are free. When I used Zelle, as long as the recipient’s bank supports it, the transfer was completed within minutes.

In terms of speed, online transfers within the same bank are the fastest, arriving instantly. P2P apps are also quite quick, from a few minutes to two business days. Wire transfers, although costly, are the most reliable way to transfer large amounts quickly from one bank to another.

One small tip: each bank’s policies are different, so it’s best to ask your bank beforehand how exactly the process works and whether there are any hidden fees, so you’re prepared.