Transferring money between your Chase account and an external bank account is a straightforward process. Chase allows you to move money in either direction from the same transfer screen, whether you want to bring money into Chase from another bank or send money from Chase to your external bank account.
The process is essentially the same both ways. The main thing to remember is that the account you select under Transfer from is where the money will come out of.
How to Transfer Money From an External Bank Account to Chase
To transfer money from an external bank account to your Chase account, follow these steps:
- Open the Chase app and go to your main screen.
- Tap Pay & Transfer at the bottom of the screen.
- On the Pay & Transfer screen, select Transfer.
- Enter the amount you want to transfer.
- Scroll down to Transfer from and tap Choose an account.
- Select your external bank account.
- Tap Transfer to and select the Chase account where you want the money deposited.
- Choose your preferred delivery method.
- Review the transfer details.
- Tap Schedule transfer to complete the transfer.
The most important step is selecting the correct direction. If you want to move money from an external bank account into Chase, your external account must be selected under Transfer from, while your Chase account should be selected under Transfer to.
Make Sure Your External Bank Account Is Linked
Before you can transfer money from an external bank account, you need to link that account to Chase.
When you tap Choose an account under Transfer from, Chase separates your available accounts into two sections: Internal accounts, which are your Chase accounts, and External accounts, which are accounts you have linked from other banks.
If you have not linked another bank yet, you will only see your Chase accounts. You will need to link your external bank account before you can transfer money to or from it.
Once the external account is linked, it will appear as an option when setting up a transfer.
How to Transfer Money From Chase to an External Bank Account
You can also use the same process to send money from Chase to an external bank account.
After selecting Transfer from the Pay & Transfer screen, choose your Chase account under Transfer from. Then select your external bank account under Transfer to.
In other words:
- Transfer from: The account the money is coming out of
- Transfer to: The account receiving the money
This makes the process work in both directions. Whether you’re moving money from an external bank account into Chase or sending money from Chase to another bank, you simply reverse the accounts you select.
Choose a Delivery Method
After selecting both accounts, Chase will show a Delivery method option. Depending on the transfer, you may have two choices: Real time or Standard.
Real-Time Transfers
Real-time transfers are designed to send money within moments. However, they have a $5,000 limit per transfer, and same-day real-time transfers cannot be canceled once they are sent.
This option can be convenient when you’re moving a relatively small amount and are certain that you’ve entered the correct information.
Standard Transfers
Standard transfers generally take one to two business days. They have higher maximum limits than real-time transfers, and most standard transfers can be canceled.
If you’re transferring a significant amount, such as a large portion of your savings, the standard option may be preferable. Although it takes longer, the ability to cancel most standard transfers gives you some additional protection if you accidentally enter the wrong amount or select the wrong account.
Select the Transfer Date
The available transfer date depends on the delivery method you choose.
For a real-time transfer, the transfer date is locked to the current day. With a standard transfer, you can generally select a future date if you want to schedule the transfer for later.
If you don’t need the money moved immediately, scheduling a standard transfer can give you more flexibility.
Add an Optional Note
Chase also provides an optional Note to self field when setting up a transfer.
You can use this to remind yourself what the transaction was for. For example, you might enter:
- Rent
- Savings
- Birthday gift
- Emergency fund
The note is optional, so you can leave it blank if you don’t need it.
Review Your Transfer Before Sending It
After you’ve entered all the information, tap Next to reach the review screen.
Take a moment to carefully check:
- The transfer amount
- The Transfer from account
- The Transfer to account
- The delivery method
- The transfer date
Pay particular attention to the two accounts. If you’re trying to move money from an external bank account into Chase but accidentally select your Chase account under Transfer from, you’ll be sending the money in the opposite direction.
This is especially important with real-time transfers because same-day real-time transfers cannot be canceled. The review screen is your final opportunity to catch a mistake before submitting the transfer.
If everything looks correct, tap the blue Schedule transfer button.
Your transfer will then be submitted.
Chase Transfer Rules and Limits
There are a few important things to keep in mind when transferring money between Chase and an external bank account.
Transfers Between Your Own Accounts Are Free
Transfers between your own linked accounts are free in either direction. You can transfer money between your Chase account and your external bank account without paying a transfer fee.
The $5,000 Real-Time Limit Is Per Transfer
The $5,000 limit for real-time transfers applies per transfer, rather than per day. However, if you need to move a larger amount, using a standard transfer is generally the more practical option.
Standard Transfers Take Longer
Standard transfers typically take one to two business days, but they allow higher transfer limits and most can be canceled.
Transfers Are for Your Own Accounts
Chase’s external transfer feature is intended for moving money between accounts that belong to you. It isn’t designed to send money to another person’s bank account.
This is different from services such as Zelle, which are designed for sending money to other people.
Which Transfer Method Should You Use?
Choosing between real-time and standard depends mainly on how quickly you need the money and how much you’re transferring.
Choose real-time if:
- You need the money to arrive quickly.
- You’re transferring $5,000 or less.
- You’re completely confident that the accounts and amount are correct.
Choose standard if:
- You’re transferring a larger amount.
- You don’t need the money immediately.
- You want the option to cancel the transfer if something goes wrong.
- You’re moving a significant amount of savings or other important funds.
For small transfers, real-time can be convenient. For larger or more important transfers, standard is often the safer choice because you have more flexibility.
Final Thoughts
Moving money between Chase and an external bank account is simple once the external account is linked. From the Chase app, go to Pay & Transfer, select Transfer, choose the account the money is coming from, select the destination account, and choose your delivery method.
The most important thing to remember is the direction of the transfer: Transfer from is the account that sends the money, while Transfer to is the account that receives it.
Before submitting the transfer, always review the amount and both accounts carefully. This is particularly important when using real-time transfers, since same-day real-time transfers cannot be canceled.
