What Link Payment Does

Link Payment is a system that lets you move money between your own bank accounts at different institutions without writing a check or waiting for a wire transfer. You initiate the transfer from one bank, and Link connects to the receiving bank to pull the funds over. The money typically arrives within one business day, sometimes the same day depending on the banks involved.

Link is not a payment app you read. It runs behind the scenes at your bank's website or mobile app. When you log into your checking account and see an option to transfer to an external account, Link is often the system handling that transfer in the background. You do not interact with Link directly — you interact with your bank's interface, and your bank uses Link to move the money.

The system was built by a consortium of U.S. banks and is now operated by The Clearing House, a banking organization. Because it moves money between accounts you own, it is considered safer than sending money to someone else's account, and it is faster than older methods like ACH transfers that can take three to five business days.

Key Takeaways

  • Link transfers money between your own accounts at different banks through your bank's website or app, not through a separate service.
  • Money typically arrives within one business day, and you can see the transfer status in your bank's system before it completes.
  • You need the account number and routing number of the receiving bank account, and the receiving bank must be part of the Link network.
  • Link is free to use, though some banks may charge their own fees for transfers — check your account terms.
  • If something goes wrong, your bank handles the dispute, not Link directly.

How to Set Up a Link Transfer at Your Bank

Start by logging into your bank's website or mobile app. Look for a section labeled "Transfer Money," "Send Money," "Move Money," or "External Transfers" — the exact wording varies by bank. You will usually find this in the main menu or under an account services tab.

Select the account you want to transfer from (your checking or savings account at that bank). Then choose "Add External Account" or "Add Receiving Account." You will need to enter the receiving bank's routing number and your account number at that bank. Your bank will ask you to verify this information — some banks send a small test deposit to confirm the account is yours, which takes one to two business days.

Once the receiving account is verified, you can initiate the transfer. Enter the amount, select the date (usually today or a future date), and confirm. Your bank will show you a confirmation number. Save this number in case you need to track the transfer later.

When the Money Arrives and What You Will See

Link transfers are typically faster than standard ACH transfers. Money often arrives the same business day or by the next business day, depending on what time you initiate the transfer and whether both banks process Link transfers. If you send money after 5 p.m. on a Friday, for example, it may not arrive until Monday.

You can track the transfer in your bank's system. Log back into your account and look for a "Transfer History" or "Recent Transfers" section. You will see the status change from "Pending" to "In Progress" to "Completed." Some banks send you an email or text notification when the transfer lands in the receiving account.

The receiving bank will show the deposit in your account there, usually with a description like "Transfer from [Your Bank Name]" or a reference number. The money is available to use when ready once it shows as completed, though some banks may place a brief hold on large transfers.

What Information You Need Before You Start

Gather the details of the account you are transferring to before you log into your bank. You will need the routing number of the receiving bank (a nine-digit code that identifies the bank) and your account number at that bank. Both of these appear on the bottom left of checks, or you can find them by logging into the receiving bank's website.

Confirm that the receiving bank is part of the Link network. Most large U.S. banks participate, but some smaller regional banks or credit unions do not. If the receiving bank is not on the network, your bank will tell you when you try to add the account — it will either reject the routing number or offer you an alternative method like a standard ACH transfer.

Have your account login information for both banks ready. Some banks require you to verify the transfer by entering a code sent to your phone or email, so make sure you have access to the phone number or email address on file.

Fees and Limits on Link Transfers

Link transfers themselves are free — The Clearing House does not charge you to use the system. However, your bank may charge its own fee for moving money to external accounts. Check your account agreement or call your bank to ask whether external transfers cost anything. Most banks do not charge for Link transfers between your own accounts, but some charge a small fee (typically $1 to $3) or limit the number of free transfers per month.

There is no set limit on how much you can transfer through Link, but individual banks may have their own daily or monthly transfer limits. Your bank might allow up to $10,000 per day or $50,000 per month, for example. These limits are set by your bank, not by Link. If you need to transfer more than your bank allows, contact your bank to ask whether the limit can be raised temporarily.

Some banks also limit how many external accounts you can add or how many transfers you can make in a single day. These restrictions are in place to prevent fraud. If you hit a limit, you can usually try again the next day or contact your bank to request an exception.

What Happens If the Transfer Goes Wrong

If the money does not arrive within the expected timeframe, log into your bank and check the transfer status. If it still shows "Pending" after two business days, contact your bank's customer service. Provide them with the confirmation number from the transfer. Your bank can see exactly where the transfer is in the system and whether it has been rejected by the receiving bank.

The most common reason a transfer fails is an incorrect account number or routing number. If the receiving bank rejects the transfer because the account does not exist or the information does not match, your bank will send the money back to your account. This reversal usually takes one to two business days. You will then need to verify the correct account information and try again.

If the money was sent to the wrong account by mistake — for example, you entered someone else's account number — contact your bank when ready. Because Link transfers go to accounts you have already verified, the receiving bank will not automatically return the money. Your bank can file a dispute and request a reversal, but this process takes longer and is not always successful. This is why it is critical to double-check the account number before you confirm the transfer.

Link Transfers Versus Other Ways to Move Money

Link is faster than a standard ACH transfer, which takes three to five business days. If you need money to arrive quickly, Link is the better choice. However, ACH transfers are free at almost all banks, whereas some banks charge a small fee for Link transfers.

Wire transfers are faster than both — money can arrive the same day — but they are more expensive (typically $15 to $30 per transfer) and are harder to reverse if something goes wrong. Wire transfers are best for large amounts or time-sensitive payments to people outside your family.

If you are transferring money between accounts at the same bank, that transfer is usually when ready and free. You do not need Link for this — your bank moves the money within its own system when ready. Link only comes into play when the accounts are at different banks.

Frequently Asked Questions

Can I use Link to send money to someone else's account?

No. Link only works for transfers between accounts you own at different banks. If you want to send money to another person, you would use a different system like Zelle, a wire transfer, or a payment app. Your bank can tell you which options are available for sending money to other people.

Is Link safe?

Link is considered safe because you are only transferring money between accounts you control. You verify the receiving account before the first transfer, which reduces the risk of sending money to the wrong place. Your bank's security measures — like requiring a password and two-factor authentication — protect the transfer from unauthorized access.

What if I scheduled a transfer for the wrong date?

If the transfer has not yet been processed, you can usually cancel it through your bank's website or app. Look for a "Cancel Transfer" or "Recall Transfer" option in your transfer history. If the transfer has already been sent, you cannot cancel it — you would need to contact your bank to request a reversal, which is not always possible.

Do both banks have to use Link for the transfer to work?

Your bank initiates the transfer through Link, but the receiving bank does not have to be actively using Link — it just has to be part of the Link network, which most large U.S. banks are. Your bank will let you know if the receiving bank is not compatible when you try to add the account.

How long does it take to verify a new receiving account?

If your bank uses when ready verification (checking the account information against the receiving bank's records), the account can be verified when ready. If your bank sends a small test deposit instead, verification takes one to two business days. Once verified, you can transfer money to that account anytime.