Sending money to your friends, family, or business partners is easier than ever. Chase Bank leads the charge in mobile and online banking, making transfers within or outside of Chase a breeze.
There are five separate ways to transfer money with Chase to another bank:
Each way is effective, and they’re all free apart from wire transfers. They each have their own strengths and weaknesses, depending on what your goal is.
Zelle is the best way to transfer money to a friend or family member who has another U.S. based bank account.
External Transfers are best for transferring money to yourself from Chase bank to a bank account you have somewhere else.
ACH transfers are more specific, and are best for sending money internationally.
Wire transfers are usually met for very large transfers, like buying a house or a property abroad.
Lastly, third-party apps like Venmo or Paypal are best to transfer money from Chase to a friend whose bank isn’t supported by Zelle.
How to Transfer Money with Chase to Another Bank Using Zelle
Zelle is my go-to transfer app anytime I need to send or receive money. It’s completely free, the funds you transfer arrive instantly, and it’s integrated into almost every major financial institutions’ app already.
If you bank with Chase and are looking to send a friend, family member, or anyone with a major American bank some money, Zelle should be your first choice.
To sign up with Zelle, all you have to do is login to your Chase Mobile App or Chase.com and hit pay and transfer. From there, click either pay with Zelle or request money with Zelle.
Zelle will then onboard you. It’s a quick process that only takes a couple of clicks. Importantly, this is the part of the process where you will select your “username”.
Zelle doesn’t have usernames like Cash App’s $cashtags. Instead, it will ask you to use either a phone number or email. I love this, as I often forget my usernames but never forget my phone number!
If you’ve never used the transfer app before, it’s simple. Let me break it down for you in a couple of easy steps:
1. Open Your Chase Bank Mobile App or Head to Chase.com
You can use Zelle on both Chase’s mobile app and their website. For our article today, I’ll be using the mobile app as an example. Either way, log in with the same login and password you use whenever you want to head into your mobile banking.
2. Click on Pay and Transfer
Towards the bottom of Chase Bank’s app is a series of five buttons, each guiding you to another portion of the app. Click on pay and transfer, it’s the second from the left.
Click Send Money with Zelle
There’s also a button to request money with Zelle. If someone owes you some funds, you can send a handy request their way.
All they would have to do is hit accept and the funds would be transferred.
If you’re looking to send money though, look for the button that is helpfully titled send money with Zelle.
4. Read the Disclaimer About Scams and Click Accept
If you’ve never used Zelle before, Chase will give you a brief page about watching out for scams. When you send money on Zelle, Chase has no way of getting it back, even if you were scammed.
For this reason, be sure you know exactly who you’re sending money to. Once you’ve read and understood the disclaimer, click accept.
5. Send Money with Zelle
Again, if you’ve never used Zelle before, Chase will ask you for permission to access your contacts.
If you hit accept, they will load all of the contacts you have saved in your phone and let you know which ones are already on Zelle.
If you don’t want Chase to have access to your contacts, no worries. You can always find your recipient-to-be on Zelle by entering in their email or phone number, whichever they have attached as their “username”.
You can also use a QR code to receive funds or send them as well.
6. Enter in How Much You Want to Send
Enter in the dollar amount you want to send.
My limit is $5,000 to send on Zelle daily, your Zelle screen will show your custom amount as well. There’s also an option to add a memo, if you so choose.
For my article today, I sent money to my sister as an example (you’re welcome, sis).
7. Select the Account You Want the Funds to Come From and the Transfer Date
If you have multiple accounts with Chase Bank, now is the time to choose which account you’d like the funds to come from.
Chase only lets you select from your checking accounts you have with them.
You can also schedule transfers in the future, and you can set them to repeat. This is a handy feature for anyone who pays the same amount in rent every month.
If you owe $1,000 every first of the month, you can choose to schedule a repeating transfer and never worry about being late again!
8. Confirm Your Payment and Send Away
The last screen you’ll see before sending your payment is the review screen. Make sure you have the right recipient, dollar amount, and account you’re sending from.
Once everything looks good, click send it now. Your funds should be in your payee’s account right away.
Zelle is partnered with over 1,200 banks and credit unions across the United States, making it one of the fastest and easiest to use ways to transfer money with Chase to another bank!
How to Transfer Money with Chase to Another Bank Using External Transfers
External transfers are the best way to send money to yourself if you have accounts at different banks. You can also use external transfers to send money to your friends or family, but Zelle works much better.
To transfer money with Chase to another bank using external transfers, you again need to head to your Chase mobile app or Chase.com. Using the mobile app as our example again, swipe left on the account you want to use for your external transfer.
You’ll see three buttons here: pay, transfer, and three dots giving you more options. If you’ve Zelle before, you can actually click the pay button to take you to the Zelle screen a little quicker than the step-by-step process I went over above.
Click transfer and then click manage external accounts when the menu gives you more options.
Chase will then present you with a screen detailing their external transfers, letting you know it may take 2-3 business days to complete your transfer, and that they can only use accounts based in the U.S.
Click add an external account. From here, Chase will show you a list of popular American banks you can pick from. If the account you want to set up for external transfers isn’t appearing, you can look for it in Chase’s search bar.
Chase will then give you another screen, verifying you want to set up external transfers. Click that you agree to their rules, and then click next.
Chase will pop-up with one more screen verifying you want to leave their site to head to another — your secondary bank’s site.
From there, you’ll login to your other bank’s site and begin to connect the accounts.
How Do I Set Up External Transfers with Chase Bank and Another Bank?
Before Chase Bank will allow you to send and receive money from another one of your accounts, they’ll want to verify they’ve got the right one.
They do this by sending and receiving trial deposits. If you’ve connected your accounts correctly, you should see about 3 withdrawals and deposits between your two accounts, usually less than $.50 each.
Chase will send over about $.25 and then request two different withdrawals, usually $.12 and $.13. The small dollar amounts might change, but they’ll always equal zero. If Chase has gotten that zero successfully, you’re all set to initiate external transfers.
How to Transfer Money with Chase to Another Bank Using ACH Transfers
This is probably the least common way of sending money I’ll be covering today. It’s the least common because they’re aren’t many times ACH transfers are better than using Zelle or external transfers.
If you’re sending money to friends in the U.S. who have a bank but don’t bank with Chase, you’ll use Zelle. If you’re sending money to another one of your own U.S. bank accounts, you’ll use external transfers.
But, if you’re sending money to a friend, family member, employee, or another one of your own accounts internationally, ACH transfers might be your best bet.
Chase doesn’t charge to send or receive ACH transfers. Other banks may charge a small fee of $10, making Chase the best for these types of money movements.
You need to use a computer to set up ACH transfers. Also, Chase’s limit for ACH transfers is $25,000, unless you have a premier account like Chase’s Sapphire or Private Client accounts, then your daily limit is $100,000.
You can set up ACH transfers the same way you’d set up external transfers. The difference will come when Chase sees an international routing number. They’ll ask you to confirm, and once you do you can send your funds.
Money sent through international ACH transfers takes about 2-3 business days to arrive.
How to Transfer Money with Chase to Another Bank through Wire Transfers
Like ACH transfers, you probably aren’t sending money to another bank too often through wire transfers. Wire transfers are almost always used for either very large domestic or international transfers, well exceeding the $25,000 ACH limit.
Some foreign banks only accept wires and do not allow ACH transfers — another reason to use them.
Chase has changed the way they approach wire transfers since my time as a banker there. Nowadays, you can send international wires from your mobile app!
On the app, there’s even a screen with disclaimers warning you about the dangers of sending a wire transfer. Read through it before clicking next.
There’s also no fee for wire transfers sent to an international bank if the wire amount is above $5,000, you send it in foreign currency, and you use the mobile app or Chase.com. If the amount is under $5,000 USD, the fee is only $5.
Chase wants their customers to be as independent as possible, and encourages them by offering discounts on wires sent from the mobile app or the website.
If you send a domestic wire in person at a Chase branch, they will charge you $35 whereas it only costs $25 to send a domestic wire by yourself. It costs $15 to receive a domestic wire. It costs $15 to receive an international wire as well.
If you want to send an international wire in $USD, it will cost you $40 regardless of where you initiate it from.
What Do I Need to Receive an International Wire Transfer with Chase Bank?
To receive an international wire, you will need your account number and Chase’s swift code — CHASUS33XXX. You may also need to give your name and address to whoever is sending you the money as well.
How to Transfer Money with Chase to Another Bank using a Third-Party App (Venmo, Paypal, Cash App)
Zelle isn’t the only popular peer-to-peer (P2P0 transfer platform out there. Many of Chase’s customers use a separate third party app as well, apps like Venmo, Paypal, or Cash App.
If you want to send money to a friend whose bank doesn’t support Venmo, this may be a good option for you.
To start this process, login to your money transfer app and add either your Chase Bank Debit Card or your account and routing number. The app will be able to pull funds from either.
Next, find your friend or whoever you plan on sending money to. Enter in the amount you want to send and the third party app should pull funds from Chase automatically.
These apps usually don’t do any verification with Chase, so make sure you enter your account information correctly. Also, make sure nobody gets ahold of your account info for this very reason, they could use it to send their friends money through these third-party apps.
More Useful Articles About Banking with Chase
- Chase Bank Name and Address (How to receive Direct Deposits)
- 9 Reasons Why Chase May Have Locked or Frozen Your Account
- How to Deposit Checks on Chase App (By ex-Banker)
- 7 Ways to Deposit Money into Your Chase Account
- How a Non-US Citizen Can Open a Bank Account at Chase Bank
- What Happens if Your Chase Account is Negative For Too Long