Moving money between different banks can sometimes feel like navigating a maze, with varying timelines and different procedures. If you're looking to transfer funds from your Axos Bank account to your Wells Fargo account, you're in the right place! This comprehensive guide will walk you through everything you need to know, from understanding
How Long Does It Take Axos to Transfer to Wells Fargo? A Step-by-Step Guide to Bank-to-Bank Transfers
Let's face it, when you're moving money, you want to know exactly when it will arrive. So, how long does it really take for funds to transfer from Axos Bank to Wells Fargo? The answer, like many things in banking, isn't a single, definitive number. It primarily depends on the method of transfer you choose. Generally, you're looking at 1 to 5 business days for most electronic transfers.
Ready to demystify bank transfers? Let's dive in!
Step 1: Understanding the Different Transfer Methods
Before you initiate any transfer, it's crucial to understand the various options available and their respective timelines. This step is all about making an informed decision to best suit your needs.
- ACH Transfers (Automated Clearing House): This is the most common and often the cheapest method for bank-to-bank transfers in the U.S. ACH transfers are processed in batches, which contributes to their slightly longer processing times.
- Typical Timeline: 2-3 business days is the general expectation for an ACH transfer from Axos to Wells Fargo. However, depending on the time of day you initiate the transfer, weekends, and holidays, it could take up to 5 business days. Axos Bank explicitly states that external transfers can take 2-3 business days for verification.
- Wire Transfers: For faster transfers, wire transfers are your go-to. They are processed individually and almost in real-time, making them ideal for urgent transactions.
- Typical Timeline: Wire transfers are typically completed on the same business day if initiated before the cutoff time. If sent after the cutoff or on a non-business day, it will likely be processed the next business day.
- Third-Party Payment Services (e.g., Zelle, PayPal, Venmo): While not direct bank-to-bank transfers in the traditional sense, these services facilitate money movement between accounts linked to different banks.
- Typical Timeline: These services often offer instant or near-instant transfers, especially for smaller amounts. However, they may have daily/monthly limits and could involve fees for instant transfers or if not directly linked to a debit card. Wells Fargo's Zelle limit is $3,500 daily and $20,000 monthly.
Step 2: Gathering Necessary Information
To ensure a smooth transfer, having all the correct details on hand is paramount. Double-checking this information before initiating the transfer can save you significant time and frustration.
- Your Axos Bank Account Information:
- Your Axos Bank account number (the one you're transferring from).
- Axos Bank's routing number (for ACH and wire transfers). Axos Bank's routing number is typically 122287251.
- Your Wells Fargo Account Information:
- Your Wells Fargo account number (the one you're transferring to).
- Wells Fargo's routing number (for ACH transfers). This varies by region, so it's best to confirm it within your Wells Fargo online banking or on a check.
- For wire transfers to Wells Fargo, you'll need the Wells Fargo SWIFT/BIC code (for international wires, though less common for domestic), and potentially specific intermediary bank details if it's a very large or unusual transfer. For domestic wires, the routing number is usually sufficient.
- Recipient Name: Ensure the name on the Wells Fargo account matches the account holder.
Step 3: Initiating the Transfer from Axos Bank
You can typically initiate a transfer from Axos Bank in a few ways. Choose the method that's most convenient for you.
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Sub-heading: Online Banking or Mobile App (Recommended for ACH):
- Log in: Access your Axos Bank online banking portal or mobile app.
- Navigate to Transfers: Look for a "Move Money," "Transfers," or "External Transfers" section.
- Add External Account: If you haven't already, you'll need to add your Wells Fargo account as an external account. This usually involves entering the Wells Fargo routing number and account number. Axos Bank may send small trial deposits (micro-deposits) to your Wells Fargo account to verify ownership. You'll need to confirm the amounts of these deposits back in your Axos account. This verification process can add 1-3 business days to the initial setup.
- Select Accounts: Choose your Axos Bank account as the "From" account and your linked Wells Fargo account as the "To" account.
- Enter Amount: Specify the amount you wish to transfer.
- Review and Confirm: Carefully review all the details before confirming the transfer. You'll usually receive an email confirmation.
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Sub-heading: Wire Transfer (For Faster Delivery):
- Log in: Access your Axos Bank online banking or app.
- Navigate to Wire Transfers: Look for a specific "Wire Transfers" option within the "Move Money" or "Transfers" section.
- Input Beneficiary Details: You'll need to enter Wells Fargo's name, address, routing number, and your Wells Fargo account number.
- Enter Amount: Specify the amount.
- Review Fees and Confirm: Be aware that wire transfers incur fees. Axos Bank typically charges for outgoing wire transfers (Wise indicates a fee of around $6.11 USD for Axos, though this can vary). Review the fee and confirm the transfer.
- Cut-off Times: Be mindful of Axos Bank's wire transfer cutoff times. Domestic wire transfers typically have a cutoff around 1:00 p.m. PT. Transfers initiated after this time will be processed the next business day.
Step 4: Monitoring the Transfer and Availability of Funds
Once you've initiated the transfer, it's a waiting game. However, you can monitor the progress and understand when the funds will be available.
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Sub-heading: Tracking ACH Transfers:
- You can often see the status of your initiated transfers within your Axos Bank online banking.
- Once the funds leave Axos Bank, it will take another 1-2 business days for Wells Fargo to process and make them available in your account.
- Funds Availability: For transfers from non-Wells Fargo accounts to Wells Fargo, funds are generally available after 3 business days from the initiation date.
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Sub-heading: Tracking Wire Transfers:
- Wire transfers are much faster. Once processed by Axos Bank, they are usually received by Wells Fargo within a few hours, sometimes even minutes, if initiated within the cutoff time.
- Funds Availability: Funds from incoming wire transfers are typically available in your Wells Fargo account on the same business day they are received. Wells Fargo states that transfers completed before 8 pm Pacific Time on a business day will be available that day.
Step 5: Understanding Potential Delays and Troubleshooting
While most transfers go smoothly, sometimes delays or issues can arise. Knowing what to look for can help you resolve them quickly.
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Sub-heading: Common Reasons for Delays:
- Weekends and Holidays: Banks do not process transfers on non-business days. If you initiate a transfer on a Friday afternoon, expect it to not begin processing until the following Monday or Tuesday.
- Cut-off Times: Missing the daily cut-off time for a specific transfer method will result in the transfer being processed on the next business day.
- Verification Processes: Especially for first-time external transfers, the micro-deposit verification process adds a few days.
- Incorrect Information: Even a single incorrect digit in an account or routing number can cause significant delays or even a return of funds.
- Large Transfer Amounts: Transfers of unusually large sums might trigger additional security reviews by either bank, leading to delays.
- Fraud Prevention: Both Axos and Wells Fargo have sophisticated fraud detection systems. If a transfer seems unusual, it might be flagged for manual review, causing a delay.
- Technical Issues: While rare, system glitches or maintenance at either bank can temporarily hold up transfers.
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Sub-heading: What to Do If Your Transfer is Delayed:
- Check Your Bank Accounts: First, verify the status within your Axos Bank online banking. Has the money left your Axos account?
- Verify Information: Double-check all the account and routing numbers you provided.
- Contact Axos Bank: If the funds have left your Axos account but haven't appeared in Wells Fargo, contact Axos Bank's customer service first. They can provide details on the transfer's status and any potential hold-ups on their end.
- Contact Wells Fargo: If Axos confirms the transfer was sent successfully, contact Wells Fargo's customer service to inquire about the incoming funds. Provide them with the transfer details (amount, date, sending bank).
Step 6: Considering Transfer Limits and Fees
Each bank has its own limits and fee structures for transfers. Being aware of these can prevent unexpected issues.
- Sub-heading: Axos Bank Transfer Limits:
- Axos Bank generally states they "do not limit the number of funds transfers you may make." However, there are daily and monthly maximums for external ACH transfers:
- Maximum $45,000.00/day
- Maximum $75,000.00/month
- Wire transfer limits from Axos Bank may vary and it's best to confirm with them directly for very large sums.
- Axos Bank generally states they "do not limit the number of funds transfers you may make." However, there are daily and monthly maximums for external ACH transfers:
- Sub-heading: Wells Fargo Incoming Transfer Limits:
- Wells Fargo doesn't typically impose limits on incoming ACH or wire transfers. However, for outgoing transfers or specific services like Zelle, they have limits.
- Sub-heading: Transfer Fees:
- ACH Transfers: Generally free for standard transfers from both Axos and Wells Fargo. Some banks might charge for expedited ACH transfers.
- Wire Transfers: Both banks typically charge for wire transfers.
- Axos Bank: For outgoing domestic wires, there is usually a fee (e.g., around $6.11 according to some sources, but confirm directly with Axos).
- Wells Fargo: For incoming wires, Wells Fargo charges a fee ($15 for businesses, often $0 for consumers). Outgoing digital wires are typically $25, and in-branch wires are $40.
By following these steps and understanding the nuances of bank transfers, you can confidently move your money between Axos Bank and Wells Fargo.
10 Related FAQ Questions:
How to Check My Axos Bank Routing Number?
You can find your Axos Bank routing number (typically 122287251) on your online banking platform, in your checkbook, or by contacting Axos Bank customer service.
How to Find My Wells Fargo Routing Number for Transfers?
Your Wells Fargo routing number depends on your region and account type. The easiest way is to log in to your Wells Fargo online banking, check your checks, or use their online routing number lookup tool.
How to Expedite an Axos to Wells Fargo Transfer?
The fastest way to transfer funds is by initiating a wire transfer from Axos Bank. While ACH transfers are cheaper, they take longer. Third-party services like Zelle can also be instant for smaller amounts.
How to Avoid Fees on Bank Transfers?
To avoid fees, opt for standard ACH transfers, as they are generally free. Wire transfers almost always incur fees from both the sending and sometimes the receiving bank.
How to Troubleshoot a Missing Bank Transfer?
First, check your online banking at both Axos and Wells Fargo for the transaction status. If the funds have left Axos but not arrived at Wells Fargo within the expected timeframe, contact Axos Bank's customer service with the transfer details, and then Wells Fargo's.
How to Verify an External Account for Transfers?
Most banks, including Axos, use micro-deposits to verify external accounts. They send two small, random amounts (e.g., $0.12 and $0.23) to the external account, and you'll need to confirm these amounts in your online banking to complete the verification.
How to Increase My Axos Bank Transfer Limits?
Axos Bank has set daily ($45,000) and monthly ($75,000) limits for external ACH transfers. For larger transfers or to discuss higher limits, you may need to contact Axos Bank directly to explore options like wire transfers or specific account types.
How to Send Money Instantly from Axos to Wells Fargo?
While not a direct bank transfer method, using Zelle (if both banks support it and your accounts are enrolled) can facilitate near-instant transfers for smaller amounts. Wire transfers are also very fast, typically same-day.
How to Confirm a Transfer was Successful?
You'll typically receive a confirmation message or email from Axos Bank after initiating the transfer. For ACH, you can also see the funds debit your Axos account. For wire transfers, you can confirm receipt by checking your Wells Fargo account balance.
How to Cancel a Bank Transfer in Progress?
ACH transfers can sometimes be canceled if caught before batch processing. Wire transfers are generally irreversible once sent. Contact Axos Bank immediately if you need to attempt to cancel a transfer.