Can you transfer large amounts of money between banks

It's easy to transfer money.

Move money between your U.S. Bank accounts – and to and from accounts at other banks. With U.S. Bank mobile and online banking, you can safely control your money wherever you are.

Move your money how you want to.

One-time transfers

Make sure your money is right where you need it for large purchases or when bills are due.

Schedule in advance

Pick the date that works for you, up to a year in the future.

Recurring transfers

Set up a savings or stock-purchase plan and stick to your goals by making transfers automatic.

Account-to-account transfers

Transfers between your U.S. Bank accounts post immediately. We never charge a fee to transfer funds internally.

External transfers

Transfer money between your U.S. Bank accounts and accounts you hold at other financial institutions.

• For outbound transfers1 (from a U.S. Bank account to another financial institution), funds are typically available in the external account two to three business days after you initiate the transfer. We don’t charge a fee for outbound transfers.
• For inbound transfers (from accounts elsewhere to your U.S. Bank account), you'll never pay a fee – and you have a choice of speeds. Use free standard delivery to receive the funds in your U.S. Bank account in two to three business days. For more urgent needs, free next-day delivery may also be available.1

Wire transfers

When you need to send funds in larger amounts quickly and securely, you can initiate a wire transfer2 in minutes using the U.S. Bank Mobile App or online banking. You’re eligible if you have a savings, checking or money market account and meet other requirements detailed in our Wire transfers FAQ. Typically, a bank-to-bank wire transfer between accounts in the U.S. is transmitted same day and funds are delivered to the recipient within 24 hours.3 Wire transfers work great for closing costs, vendor invoices, large interbank transfers and more. See how easy it is to send a wire transfer with the app in this tutorial.

Frequently asked questions

To get started, select the Transfer money page in online banking. If your account is eligible, you'll see an External account transfers tab as one of your options. Security note: You may need to validate your email address so we can send you up-to-date account activity emails.

We’ll also need to verify any non-U.S. Bank accounts before you can use them for external transfers.

• For most of the major banks, credit unions and brokerages, we can complete online confirmation in less than a minute (on individual accounts for which you have internet access).
• For other accounts, we will ask you to complete a trial deposit verification procedure, which typically takes two to three business days.

Your U.S. Bank checking, savings, money market and U.S. Bancorp Investments brokerage accounts are already eligible.

Most external checking, savings and money market accounts are eligible, along with some brokerage accounts at select institutions. For non-U.S. Bank accounts, you'll need to complete a simple account ownership verification process.

The following external accounts are not eligible for the U.S. Bank external transfer service:

• Individual Retirement Accounts (IRAs)
• Custodial and/or trust accounts
• Certificate of deposits (CDs) or other time-based accounts
• Loan accounts (including credit card and equity accounts)

Other restrictions may apply; contact your financial institution with questions.

No. At this time, external transfers to and from loan accounts are not available.

Yes. You can schedule external transfers up to a year in advance. You can also schedule automatic recurring transfers.

To get started, select Add a new account from the External account transfers tab. You'll be asked to enter the account type, routing number and account number.

1)    From the Transfer money page, select the External account transfers tab.

2)    Enter the amount you want to transfer, the accounts you want to transfer    from and to, the transfer date and delivery speed.

3)    Select Continue.

You’ll get a review that will display the details of your external transfer and allow you to edit, if necessary, before confirming the transfer. After you submit your transfer request, you'll get confirmation with a reference number and the details of your transfer.

1)    From the Transfer money page, select the External account transfers tab.

2)    Enter the amount you want to transfer, the accounts you want to transfer from and to, and select the Make recurring link.

3)    In the Make recurring section, enter the start date, frequency and number of transfers for the recurring transfer plan.

4)    Select Continue.

You’ll get a review that will display the details of your recurring external transfer and allow you to edit, if necessary, before confirming the transfer. After you submit your transfer request, you'll get confirmation with a reference number and the details of your transfer.

You can view and modify the details of each recurring transfer by selecting Edit next to the recurring transfer on the Account activity page. Then select Edit all remaining transfers.

If you submit your transfer request before the daily cutoff time, it will be processed electronically on the next business day following receipt of your request.

If you submit a transfer request after the daily cutoff time, it will be debited from the source account on the second business day following the request date. Please note that all external transfers requested during the weekend, up until the Sunday cutoff time, will be debited from the source account on Monday.

Future-dated and recurring transfers are processed on their send date. Depending on the financial institution, it may take an additional business day for the transfer to be reflected in the account balance of the destination account.

We don’t charge a fee for external transfers. For inbound external transfers (from accounts at other financial institutions into your U.S. Bank account), both standard delivery and expedited next-day delivery1 are available at no charge.

You can get an up-to-date report on your external transfer requests over the past 180 days on the Account activity page. Each transfer request is displayed along with the date and status of the transfer. You can also confirm the completion of the transfer by viewing your account activity with your external financial institution after scheduled completion of your request.

Yes. U.S. Bank processes electronic transfer funds via the Automated Clearing House (ACH) secure network. This is the same network used by the Federal Reserve to clear checks between financial institutions.

U.S. Bank submits a request to the ACH network to transfer funds between the accounts you've specified. ACH then uses its secure channels to complete the transaction. This procedure is very similar to the process employers use for direct payroll deposits and that financial institutions use for automated payments on loans and mortgages.

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Disclosures

1. Eligibility requirements and restrictions apply. Please see the Digital Services Agreement for more information.

2. Eligibility requirements and restrictions apply. Fees for wire transfers initiated in mobile and online banking will be displayed before confirmation. Please refer to the Digital Services Agreement for more information.

3. In limited cases, funds may take longer than 24 hours to be delivered. Funds can only be sent on business days between 7:30 a.m. and 3:30 p.m. CT. For more information about making wire transfers, see the Wire transfers FAQ.

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