Want to move money from your Bank of America account to your Chase account? You're in the right place! Whether you're consolidating funds, setting up a new savings plan, or just need to shift some cash around, this detailed guide will walk you through the various methods, step by step. Let's get started and make that transfer happen!
How to Transfer Money from Bank of America to Chase: A Comprehensive Guide
Transferring money between different banks might seem a bit daunting at first, but with today's digital banking tools, it's often a straightforward process. You have several options at your disposal, each with its own benefits regarding speed, cost, and convenience. We'll explore the most common and efficient ways to get your money from Bank of America to Chase.
Step 1: Assess Your Needs and Gather Information
Before you even think about clicking "transfer," let's make sure you've got all your ducks in a row.
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1.1 What's Your Priority?
- Speed: Do you need the money to arrive today? If so, real-time options like Zelle or wire transfers might be your best bet, though they can come with higher fees or limits.
- Cost: Are you looking for the cheapest way, even if it takes a few business days? ACH transfers are typically free.
- Amount: How much are you transferring? Different methods have different daily or per-transaction limits. This is crucial for larger transfers.
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1.2 Essential Information You'll Need:
- Your Bank of America Account Details: You'll typically need your Bank of America account number and routing number for the account you're sending money from. You can usually find this on your checks, online banking portal, or mobile app.
- Your Chase Account Details: For the receiving account at Chase, you'll need the Chase routing number and your Chase account number. Again, these are easily accessible through your Chase online banking or app.
- Recipient Information (if sending to someone else's Chase account): If you're not transferring to your own Chase account, you'll need the recipient's full name, address, and their Chase bank account and routing numbers. For Zelle, you'll just need their enrolled email address or U.S. mobile number.
Step 2: Choose Your Transfer Method
There are several popular ways to transfer money from Bank of America to Chase. Let's break them down.
Method A: Using Zelle (Recommended for Smaller, Faster Transfers)
Zelle is a peer-to-peer payment service that allows you to send money directly between U.S. bank accounts, usually within minutes. Both Bank of America and Chase are part of the Zelle network.
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2A.1 Enrollment in Zelle:
- If you haven't already, you'll need to enroll in Zelle through your Bank of America online banking or mobile app. This typically involves linking your Bank of America checking or savings account to your email address or U.S. mobile number. The recipient at Chase will also need to be enrolled with Zelle using their Chase account.
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2A.2 Initiating the Transfer via Bank of America:
- Log in to your Bank of America online banking account or mobile app.
- Navigate to the "Pay & Transfer" section, and look for "Send Money with Zelle" or simply "Zelle."
- Select "Send."
- Add your Chase account as a recipient (if it's not already there) by entering the email address or U.S. mobile number associated with your Chase Zelle enrollment. If you're sending to someone else, use their enrolled Zelle email or phone number.
- Enter the amount you wish to send.
- Review the details carefully – double-check the recipient and amount!
- Confirm and send.
- Speed & Limits: Funds typically arrive in minutes if both parties are enrolled. Bank of America usually has daily Zelle limits (e.g., $3,500 daily, $10,000 weekly, $20,000 monthly), which can vary by account type. There are no fees for Zelle transfers from Bank of America.
Method B: Initiating an External Transfer (ACH Transfer) from Bank of America
This is a common and often free method for non-urgent transfers. You'll link your Chase account to your Bank of America online banking.
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2B.1 Linking Your External Account (Chase) to Bank of America:
- Log in to your Bank of America online banking.
- Go to the "Pay & Transfer" section.
- Look for an option like "Transfers," "External Accounts," or "Add a Pay From Account."
- Select "Add External Account" or similar. You'll be prompted to provide your Chase routing number and Chase account number.
- Verification Process: Bank of America will likely initiate small test deposits (usually a few cents) into your Chase account within 1-3 business days.
- You will need to verify these small deposit amounts back in your Bank of America online banking to confirm ownership of the Chase account. This step is crucial for security.
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2B.2 Performing the ACH Transfer:
- Once your Chase account is linked and verified, go back to the "Pay & Transfer" section in Bank of America online banking.
- Select "Transfer between my accounts" or "Make a transfer."
- Choose your Bank of America account as the "From" account and your linked Chase account as the "To" account.
- Enter the transfer amount.
- Select the date for the transfer (you can often schedule it for later or set up recurring transfers).
- Review and confirm the transfer.
- Speed & Limits: ACH transfers typically take 1-3 business days to complete. Bank of America's ACH limits can vary by account type, but are generally higher than Zelle limits. There are usually no fees for standard ACH transfers.
Method C: Initiating an External Transfer (ACH Transfer) from Chase
You can also pull money from your Bank of America account into your Chase account. This method is often preferred by some users as it gives them control from the receiving bank.
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2C.1 Linking Your External Account (Bank of America) to Chase:
- Log in to your Chase online banking account or mobile app.
- Navigate to "Pay & Transfer."
- Look for "Link External Accounts" or "Add an external checking or savings account."
- Search for Bank of America or manually enter the Bank of America routing number and your Bank of America account number.
- Verification Process: Similar to linking from Bank of America, Chase will likely send small test deposits to your Bank of America account (within 1-3 business days).
- You'll need to verify these amounts in your Chase online banking to complete the linking process.
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2C.2 Performing the ACH Pull:
- Once your Bank of America account is linked and verified, go to "Pay & Transfer" in Chase online banking.
- Select "Transfer Money."
- Choose your linked Bank of America account as the "From" account and your Chase account as the "To" account.
- Enter the amount you wish to transfer.
- Select the transfer date.
- Review and confirm the transaction.
- Speed & Limits: ACH pulls also typically take 1-3 business days. Chase's daily transfer limits for external transfers are often $25,000 for most accounts, and up to $100,000 for Chase Private Client and Chase Sapphire Banking accounts. There are generally no fees for initiating an ACH pull from Chase.
Method D: Wire Transfer (For Large, Urgent Transfers)
Wire transfers are the fastest way to move large sums of money, often on the same business day, but they typically come with fees.
- 2D.1 Initiating a Wire Transfer from Bank of America:
- Online: Log in to your Bank of America online banking. Navigate to "Pay & Transfer" and look for "Wire Transfers." You'll need to provide all the recipient's details:
- Recipient Name: Your name (or the recipient's name) as it appears on the Chase account.
- Recipient Address: Your address (or the recipient's address).
- Recipient Bank Name: Chase Bank
- Recipient Bank Address: JPMorgan Chase Bank NA, 270 Park Avenue, New York, NY 10017 (or a relevant branch address if specified by Chase).
- Chase Routing Number: 021000021
- Your Chase Account Number: The full account number.
- SWIFT/BIC Code (for international wires, though not typically needed for domestic): CHASUS33
- In Person: Visit a Bank of America branch. A teller can assist you with the wire transfer. Bring all the required Chase account details.
- Over the Phone: Contact Bank of America customer service to initiate a wire transfer.
- Speed & Fees: Domestic wire transfers often complete within a few hours to one business day if initiated before the cutoff time (typically 5 PM EST for Bank of America). Bank of America charges a fee for outgoing domestic wire transfers (e.g., ~$30). Limits for wire transfers can be higher than ACH or Zelle, but online limits might be capped (e.g., $1,000 online at Bank of America), with higher limits available in-branch.
- Online: Log in to your Bank of America online banking. Navigate to "Pay & Transfer" and look for "Wire Transfers." You'll need to provide all the recipient's details:
Method E: Physical Check (The Old-School Approach)
While not as fast, writing a check from your Bank of America account and depositing it into your Chase account is always an option.
- 2E.1 Writing and Depositing the Check:
- Write a check from your Bank of America checking account to yourself (or the recipient) for the desired amount.
- Deposit the check into your Chase account using:
- Chase Mobile App (Mobile Deposit): Endorse the check, take photos using the app.
- Chase ATM: Deposit the check at any Chase ATM.
- Chase Branch: Visit a Chase branch and deposit the check with a teller.
- Speed & Fees: Mobile deposits and ATM deposits may have varying hold times (e.g., next business day availability for up to a certain amount, with the rest available later). Teller deposits often clear faster. There are typically no direct fees for writing or depositing a personal check, but availability of funds might be delayed.
Step 3: Confirm and Monitor Your Transfer
Regardless of the method you choose, it's always a good idea to confirm and monitor the transfer.
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3.1 Check Your Bank Statements:
- After initiating the transfer, keep an eye on both your Bank of America and Chase accounts. You should see the funds debited from Bank of America and credited to Chase within the expected timeframe for your chosen method.
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3.2 Keep Records:
- Save any confirmation numbers or screenshots of your transfer details. This can be helpful if there are any issues.
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3.3 Contact Customer Service if Needed:
- If the transfer doesn't appear within the expected timeframe, or if you encounter any errors, contact the customer service departments of Bank of America or Chase. Have your transaction details ready.
10 Related FAQ Questions
How to check my Bank of America Zelle daily limit?
You can typically check your Zelle daily, weekly, and monthly limits directly within the Bank of America online banking portal or mobile app in the Zelle section. Limits vary by account type.
How to find my Chase bank routing number?
You can find your Chase bank routing number on your checks, by logging into your Chase online banking account, or within the Chase mobile app under your account details. The routing number for domestic transfers is usually 021000021.
How to link an external account to my Bank of America online banking?
Log in to Bank of America online banking, navigate to "Pay & Transfer," and look for options related to "External Accounts" or "Add a Pay From Account." You'll need the external bank's routing and account numbers, and you'll likely complete a small test deposit verification.
How to link an external account to my Chase online banking?
Log in to Chase online banking or the mobile app, go to "Pay & Transfer," and select "Link External Accounts" or "Add an external checking or savings account." Provide the external bank's routing and account numbers, and verify with small test deposits.
How to send a wire transfer from Bank of America online?
Log in to Bank of America online banking, go to "Pay & Transfer," and select "Wire Transfers." You'll need the recipient's bank name, address, routing number, account number, and their full name and address.
How to avoid fees when transferring money from Bank of America to Chase?
To avoid fees, use Zelle (for eligible amounts) or initiate an ACH transfer (external transfer) through either Bank of America or Chase. Both methods are typically free for standard transfers. Wire transfers usually incur fees.
How to increase my Zelle limit with Bank of America?
Zelle limits are generally fixed based on your account type and banking relationship. For higher limits, you might need to contact Bank of America directly or consider alternative transfer methods like ACH or wire transfers.
How to track a wire transfer from Bank of America?
Once you initiate a wire transfer, Bank of America will provide a confirmation number. You can often track the status of the wire transfer online or by contacting Bank of America customer service with your confirmation number.
How to receive a wire transfer at Chase?
To receive a wire transfer at Chase, you'll need to provide the sender with your full name, your Chase account number, Chase's routing number (021000021), and Chase Bank's name and address (JPMorgan Chase Bank NA, 270 Park Avenue, New York, NY 10017).
How to set up recurring transfers from Bank of America to Chase?
Once you've linked your Chase account to Bank of America (via ACH), you can usually set up recurring transfers in the "Pay & Transfer" section of your Bank of America online banking. Select the linked Chase account as the destination and choose the frequency (weekly, monthly, etc.) and start date.
