Ever found yourself needing to send money from one Bank of America account to another, whether it's your own accounts or to a friend or family member? You're not alone! It's a common need, and thankfully, Bank of America offers several convenient and secure ways to get your money where it needs to go. This comprehensive guide will walk you through each method, step-by-step, to ensure a smooth and successful transfer. Let's dive in!
Understanding Your Options: Bank of America to Bank of America Transfers
When it comes to moving money within the Bank of America ecosystem, you generally have a few primary methods, each with its own advantages:
- Internal Transfers (between your own accounts): This is the simplest and most common scenario for managing your own funds.
- Zelle® (to another person): Ideal for sending money quickly to friends, family, or anyone with a U.S. bank account enrolled in Zelle®.
- Wire Transfers (to another person or business): Best for larger sums, time-sensitive payments, or when sending to an account that isn't set up for Zelle®.
Let's break down each method with a detailed guide.
Step 1: Prepare for Your Transfer – What You Need to Know
Before you initiate any transfer, a little preparation goes a long way to avoid hiccups.
A. Determine the Recipient and Purpose
- Is this transfer for yourself or someone else? This dictates the method you'll use.
- What is the purpose of the transfer? Is it a personal gift, a bill payment, or a business transaction? This can sometimes affect the required information or the best method to choose.
B. Gather Necessary Information
- For Transfers Between Your Own Bank of America Accounts:
- Your Bank of America Online Banking credentials (Username and Password).
- For Sending Money to Another Person via Zelle®:
- The recipient's U.S. mobile phone number or email address (the one they've enrolled with Zelle®).
- No account numbers or routing numbers are typically needed for Zelle if the recipient is already enrolled.
- For Sending Money to Another Person or Business via Wire Transfer:
- Recipient's Full Name (as it appears on their Bank of America account).
- Recipient's Bank of America Account Number.
- Bank of America's Routing Number (for domestic wires). This is crucial! You can often find this on your own checks or by logging into your Bank of America online banking and checking the "Information & Services" tab for your account. For domestic Bank of America transfers, the routing number is typically 026009593.
- Recipient's Address (sometimes required for wire transfers, especially for businesses).
- Amount you wish to send.
- Optional: A memo or note for the recipient.
C. Understand Limits and Fees
- Internal Transfers: Generally no fees for transferring between your own Bank of America accounts.
- Zelle®: Bank of America typically charges no fees for Zelle® transfers. However, daily and frequency limits apply.
- Wire Transfers: Bank of America charges fees for outgoing wire transfers. As of my last update, a domestic outgoing wire transfer typically costs around $30. International wire transfer fees can vary, but for sending in USD, it's generally around $45. Always check the most current fees on the Bank of America website or with customer service.
Step 2: Choose Your Platform: Online Banking or Mobile App
Bank of America provides seamless ways to manage your money through both its online banking portal and its highly-rated mobile app. Both offer similar functionalities for transfers.
A. Using Bank of America Online Banking
- Accessibility: Great for a larger screen experience, especially if you're dealing with complex transactions or prefer typing on a keyboard.
- Where to Access: Open your web browser and go to
www.bankofamerica.com
B. Using the Bank of America Mobile App
- Convenience: Perfect for on-the-go transfers, quick checks, and managing your finances from anywhere.
- Where to Access: Download the "Bank of America Mobile Banking" app from your device's app store (App Store for iOS, Google Play Store for Android).
Step 3: Executing the Transfer (Step-by-Step Guides)
Now, let's get into the nitty-gritty of how to perform each type of transfer.
A. Transferring Money Between Your Own Bank of America Accounts
This is the most straightforward method and is usually immediate.
Sub-Step 3.A.1: Via Online Banking
- Log In: Go to
www.bankofamerica.com - Navigate to Transfers: Once logged in, look for the "Pay & Transfer" tab in the main navigation. Click on it.
- Select Transfer Type: From the dropdown menu or options presented, choose "Transfer between my accounts" or a similar option.
- Choose Accounts:
- Select the "From" account (the account you want to send money from).
- Select the "To" account (the account you want the money to go to).
- Enter Amount and Frequency:
- Enter the exact amount you wish to transfer.
- Choose the Frequency:
- "Immediately" for a one-time, instant transfer.
- "Schedule for a future date" or "Recurring" if you want to set up transfers for later or on a regular basis.
- Review and Confirm: A summary of your transfer details will appear. Double-check everything carefully – the "From" account, the "To" account, and the amount.
- Submit: Click "Transfer" or "Submit" to complete the transaction. You will receive a confirmation message.
Sub-Step 3.A.2: Via Mobile App
- Open and Log In: Launch the Bank of America Mobile Banking app and log in using your User ID and Passcode, or biometric authentication (fingerprint/Face ID).
- Access Pay & Transfer: Tap the "Pay & Transfer" icon, usually found at the bottom navigation bar.
- Initiate Transfer: Select ***"Transfer between my accounts"***.
- Select Accounts:
- Tap "Choose account" for the "From" account.
- Tap "Choose account" for the "To" account.
- Enter Amount and Date:
- Enter the amount you wish to transfer.
- Tap "Choose date" to select when the transfer should occur (usually "Today" for immediate).
- Review and Confirm: Review all the transfer details displayed on the screen.
- Transfer: Tap "Transfer" to finalize. You'll see a confirmation message.
B. Sending Money to Another Person via Zelle®
Zelle is generally the quickest and easiest way to send money to someone else if they also bank with a Zelle-participating financial institution (which Bank of America is).
Sub-Step 3.B.1: Via Online Banking
- Log In: Go to
www.bankofamerica.com - Navigate to Zelle: Click on the "Pay & Transfer" tab, then select ***"Zelle®"***.
- Send Money: Choose the option to "Send Money" or ***"Pay"***.
- Add/Select Recipient:
- If you're sending to someone new, click ***"Add new person or company"***. You'll enter their U.S. mobile number or email address. Ensure it's the one they use for Zelle.
- If they are an existing contact, select them from your list. Look for the purple 'Z' icon next to their name, which indicates they are already enrolled in Zelle.
- Enter Amount: Enter the amount you want to send.
- Choose Account and Frequency: Select the Bank of America account you want to send money from. You can also set it as a one-time or recurring payment.
- Add Optional Message: You can add a personal message for the recipient if desired.
- Review and Send: Carefully review all the details – recipient, amount, and the account it's coming from.
- Authorize/Confirm: Depending on your security settings and the amount, you might need to authorize the payment with a code sent to your phone or through other verification methods. Click "Send" or ***"Pay"***.
- Confirmation: You'll receive a confirmation that your payment has been sent. The recipient, if enrolled, will typically receive the money within minutes.
Sub-Step 3.B.2: Via Mobile App
- Open and Log In: Launch the Bank of America Mobile Banking app and log in.
- Access Zelle: Tap the "Pay & Transfer" icon, then select ***"Zelle®"***.
- Send Money: Tap "Pay" to send money.
- Add/Select Recipient:
- For a new contact, tap "Add new person or company" and enter their U.S. mobile number or email.
- For an existing contact, select them from your list.
- Choose Account and Amount: Select the account to send from and enter the amount.
- Schedule (Optional): You can choose to send immediately or schedule for a future date.
- Add Message (Optional): Add a memo if you wish.
- Review and Confirm: Carefully check all the details.
- Authorize and Send: You may need to authorize with an authorization code. Tap ***"Send"***.
- Confirmation: You'll get a confirmation that the money has been sent.
C. Sending Money via Wire Transfer (Domestic Bank of America to Bank of America)
Wire transfers are generally used for larger sums or when speed and direct account-to-account transfer are paramount. They do incur fees.
Sub-Step 3.C.1: Via Online Banking
- Log In: Go to
www.bankofamerica.com - Navigate to Wires: Click on the "Pay & Transfer" tab, and then select "Send a Wire Transfer" or ***"Wire"***.
- Choose Domestic: Select ***"Domestic Wire"***.
- Add New Recipient (if applicable): If this is a new recipient, you will need to add their information:
- Recipient's Full Name
- Recipient's Bank of America Account Number
- Bank of America's Domestic Wire Routing Number (026009593)
- Recipient's Address (if required).
- Select Recipient and Account: Choose the recipient from your saved list or the one you just added. Then select the Bank of America account you want to send the wire from.
- Enter Amount: Enter the exact amount to be wired.
- Review Fees and Details: The system will typically display the wire transfer fee. Review all the details meticulously, including the recipient's information, account number, routing number, and the total amount including fees.
- Provide Purpose (Optional/Required): You might be asked to specify the purpose of the wire transfer.
- Confirm and Send: You will likely need to authorize the transfer, possibly with a code sent to your phone or debit card PIN. Confirm and click ***"Send Wire"***.
- Confirmation: You'll receive a confirmation message and possibly an email with the wire's reference number.
Sub-Step 3.C.2: Via Mobile App
- Open and Log In: Launch the Bank of America Mobile Banking app and log in.
- Access Wires: Tap the "Pay & Transfer" icon, then select ***"Wire"***.
- Start a Wire: Tap ***"Start a wire"***.
- Add New Recipient (if applicable): If new, tap "Add new recipient" and select ***"United States"***. Enter the recipient's details:
- Recipient name
- Account type
- Recipient's Bank of America Account Number
- Bank of America's Domestic Wire Routing Number (026009593)
- Recipient's Address.
- Select Recipient and From Account: Choose the recipient and the Bank of America account to wire from.
- Enter Amount: Input the amount you wish to send.
- Review Costs and Add Notes: Review the total cost, including the wire fee. You can add optional notes for the recipient's bank.
- Enroll in Secured Transfer (if prompted): For security, you might be required to enroll in Secured Transfer if you haven't already. This involves verifying your U.S. mobile number and debit card details.
- Review and Authorize: Thoroughly review all the wire details. You will likely need to authorize the payment by tapping a circle to agree to terms, then tapping ***"Send"***.
- Confirmation: You'll receive an in-app confirmation and potentially an email with transaction details.
Step 4: After the Transfer: Monitoring and Verification
Once you've sent the money, it's a good idea to keep an eye on its status.
A. Check Your Activity
- Online Banking: Look for a "Pay & Transfer Activity" section or "Activity" tab.
- Mobile App: Tap on the "Activity" section, usually found within the "Pay & Transfer" menu.
B. Confirmation and Receipts
- For Internal Transfers and Zelle: You'll usually receive an immediate confirmation on screen and often an email alert.
- For Wire Transfers: You'll receive a confirmation, and for domestic wires, they are typically received the same business day if sent before the cut-off time (usually 5:00 PM ET). You might receive an email with the final reference number once processed.
C. Communicate with Recipient
- It's always a good practice to notify the recipient that you've sent the money, especially for Zelle or wire transfers, so they know to expect it.
Important Considerations and Tips
- Cut-off Times: Be aware of Bank of America's daily cut-off times for transfers, especially for wire transfers. Transfers initiated after the cut-off time will be processed on the next business day.
- Accuracy is Key: Always, always, always double-check all recipient details (account number, routing number, mobile number/email) before confirming a transfer. Errors can cause significant delays or even loss of funds, especially with wire transfers.
- Security: Bank of America uses various security measures. Be vigilant against phishing attempts and never share your passwords or authorization codes with anyone.
- Customer Service: If you encounter any issues or have questions, don't hesitate to contact Bank of America customer service through their official phone numbers or secure messaging within online banking/mobile app.
Frequently Asked Questions (FAQs)
Here are 10 related FAQs to further assist you:
How to check my Bank of America routing number? You can find your Bank of America routing number by logging into your Online Banking, selecting your desired account, and looking under the "Information & Services" tab. It's also printed on your checks.
How to increase my Zelle® daily transfer limit with Bank of America? Zelle® limits are typically set by Bank of America and may vary based on your account history and relationship with the bank. You may be able to request an increase by contacting Bank of America customer service or visiting a financial center, but there's no guarantee it will be granted.
How to cancel a Bank of America Zelle® payment? You can only cancel a Zelle® payment if the recipient has not yet enrolled in Zelle®. If they are already enrolled, the payment is typically sent within minutes and cannot be canceled. You would need to contact the recipient directly to request the money back.
How to track a Bank of America wire transfer? After sending a wire transfer, you can typically track its status in the "Activity" section of your Bank of America Online Banking or Mobile App. You may also receive email updates or a final reference number once the wire is completed.
How to receive money from another Bank of America account? If someone is sending you money from another Bank of America account via Zelle®, they will need your enrolled U.S. mobile number or email. If they are sending a wire transfer, they will need your Bank of America account number and the Bank of America routing number.
How to schedule recurring transfers between my Bank of America accounts? When initiating a transfer between your own accounts in Online Banking or the Mobile App, select the "Recurring" or "Schedule" frequency option. You can then specify the start date, frequency (weekly, monthly, etc.), and end date (or indefinitely).
How to find Bank of America's wire transfer cut-off times? Bank of America's domestic wire transfer cut-off time is generally 5:00 PM Eastern Time on business days for same-day processing. Cut-off times can vary, so it's always best to confirm on their official website or with customer service for the most up-to-date information.
How to avoid Bank of America wire transfer fees? Bank of America typically charges fees for outgoing wire transfers. Some premium account types (like Preferred Rewards Platinum, Platinum Honors, etc.) may offer waived fees for certain types of transfers. You can also consider using Zelle® for smaller, fee-free transfers if the recipient is enrolled.
How to send money to a non-Bank of America account from my Bank of America account? You can use Zelle® if the recipient's bank is also a Zelle® participant, or you can initiate a standard bank transfer using the recipient's bank account number and routing number. Wire transfers are also an option for transfers to other banks, both domestically and internationally.
How to ensure the security of my Bank of America transfers? Always use strong, unique passwords, enable two-factor authentication, and be wary of suspicious emails or texts. Only log in to Bank of America through their official website or mobile app. Never share your security codes or personal banking information with anyone.