A wallet transfer is a payment that moves funds from one digital, mobile or crypto wallet to another, often called a wallet-to-wallet or peer-to-peer transfer. When both wallets belong to the same provider, the transfer is simply a pair of entries in the provider's wallet ledger, so it is usually instant and free, and no money moves between banks, similar to book-to-book settlement. Transfers to another provider or a bank account depend on wallet interoperability, through a switch, a national instant payment system or bilateral links, and providers settle the net amounts between them afterwards. In mobile money, the sender usually enters the recipient's phone number and confirms with a PIN. In crypto, a transfer sends tokens on-chain to the recipient's address. Transfers are subject to wallet limits, fraud checks and sanctions screening, and are usually irreversible once completed, which makes them a target for scams. Between two wallets it is called a wallet-to-wallet transfer.
Last updated 15 Nov 2026