A bank transfer is a method of moving money from one bank account to another. This can be done between accounts at the same bank or between different banks. Bank transfers are commonly used for paying bills, sending money to friends or family, and making purchases. They can be initiated online, through mobile banking apps, or in person at a bank branch. There are two main types of bank transfers: wire transfers and ACH transfers. Wire transfers are typically faster but may incur fees, while ACH transfers are usually slower and often free. Both methods require the sender's and recipient's bank account information to complete the transaction.