This study examined cross-language transfer of word reading accuracy and word reading fluency in Spanish-English and Chinese-English bilinguals. Participants included 51 Spanish-English and 64 Chinese-English bilinguals. Both groups of children completed parallel measures of phonological awareness, rapid automatized naming, word reading accuracy, and word reading fluency in their first language (L1) and in English, their second language (L2) in Grade 1. Word reading accuracy and word reading fluency were assessed in L1 and L2 again in Grade 2. Cross-language transfer of word reading accuracy was found only in the Spanish-English bilinguals. In contrast, cross-language transfer of word reading fluency was found in both the Spanish-English bilinguals and the Chinese-English bilinguals. Our results suggest transfer of word reading accuracy is based on the structural similarities between the L1 and L2 scripts. By contrast, word reading fluency operates largely as a script-universal process. Implications for reading theory and for assessment and instruction of bilingual children are discussed.