Ready to move your money from your Bank of America app to another bank? It's a common need, whether you're consolidating funds, paying a friend who banks elsewhere, or managing different financial goals. This comprehensive guide will walk you through the various methods, step by step, to ensure a smooth and secure transfer.
Let's Get Started! How do you want to transfer your money today?
Before we dive into the specifics, consider what kind of transfer you need to make. Do you want to send money quickly to a friend? Or are you moving a larger sum to a different account you own? Your answer will determine the best method.
There are generally three primary ways to transfer money from your Bank of America app to another bank:
- Zelle®: Ideal for quick, person-to-person payments within the U.S.
- External Account Transfers (ACH): Perfect for moving funds between your own Bank of America account and an account you hold at another bank.
- Wire Transfers: Best for large sums, time-sensitive transfers, or international transfers.
Let's explore each method in detail.
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| How To Transfer Money From Bank Of America App To Another Bank |
Step 1: Get Prepared – What You'll Need
No matter which transfer method you choose, a little preparation goes a long way. Make sure you have the following handy:
- Your Bank of America Mobile Banking App: Downloaded and updated to the latest version on your smartphone or tablet.
- Your Bank of America Online Banking Credentials: Your User ID and Passcode.
- A Stable Internet Connection: For uninterrupted access to the app.
Now, let's gather the specific information for the recipient bank account, depending on your chosen transfer method.
QuickTip: Don’t skim too fast — depth matters.
Step 2: Choosing Your Transfer Method & Gathering Recipient Information
This is where you decide how you want to send your money.
Option A: Sending Money with Zelle® (Fast & Easy for Friends/Family)
Zelle® is a fast and free (from Bank of America) way to send money to people you know and trust, typically arriving within minutes. Both you and the recipient need to be enrolled in Zelle through your respective banks.
What you'll need for Zelle®:
- The recipient's U.S. mobile number or email address.
- Crucially: Ensure you only send money to people you trust. Zelle payments are generally irreversible once sent.
Option B: External Account Transfer (ACH) – For Your Own Accounts
This method is for moving money between your Bank of America account and another bank account you own (or a trusted third-party account that you've linked). These transfers typically take 1-3 business days to process.
What you'll need for an External Account Transfer (ACH):
QuickTip: Stop to think as you go.
- The account number of the receiving bank account.
- The routing number of the receiving bank.
- The type of account (checking or savings) at the receiving bank.
- The name on the receiving account.
You'll usually need to link the external account first, which might involve a small verification process (e.g., Bank of America sending small deposits to the external account, which you then verify in the app). This is a one-time setup per external account.
Option C: Wire Transfer (For Larger Amounts & International Transfers)
Wire transfers are generally used for larger sums of money, when time is of the essence, or when sending money internationally. They are typically faster than ACH transfers but often come with fees.
What you'll need for a Wire Transfer:
- Recipient's Full Name and Address: As it appears on their bank account.
- Recipient's Bank Account Number.
- Recipient's Bank Name and Address.
- Recipient Bank's Wire Routing Number (ABA): For domestic wires in the U.S.
- Recipient Bank's SWIFT/BIC Code: For international wires.
- Purpose of the Transfer: You might be asked to specify this.
Step 3: Navigating the Bank of America App
Now that you have your information ready, let's open the app!
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- Log In Securely: Open the Bank of America Mobile Banking app and log in using your User ID and Passcode. You might also use Face ID or Touch ID if enabled.
- Access "Pay & Transfer": Once logged in, look for the "Pay & Transfer" section or tab. This is your gateway to all money movement options. It's usually prominently displayed on the main dashboard.
Step 4: Executing Your Transfer
The steps will vary slightly depending on the method you chose in Step 2.
QuickTip: Take a pause every few paragraphs.
For Zelle® Transfers:
- Select Zelle®: Within the "Pay & Transfer" section, tap on "Zelle®".
- Send Money: Choose the option to "Send" or "Pay".
- Add or Select Recipient:
- If you've sent to them before: Select the recipient from your existing Zelle® contacts. Look for the purple 'Z' next to their name to confirm they are already enrolled.
- If it's a new person: Tap "Add new person or company." You'll be prompted to enter their U.S. mobile number or email address. Double-check for typos!
- Enter Amount: Input the amount you wish to send.
- Choose Account: Select the Bank of America account you want to send money from.
- Add Optional Memo: You can add a brief message for the recipient (e.g., "Lunch money!").
- Review and Send: Carefully review all the details – recipient, amount, and sending account. If everything looks correct, tap "Next" or "Pay" to confirm the transfer.
- Confirmation: You'll receive a confirmation message that your payment has been sent. The recipient will also be notified.
For External Account Transfers (ACH):
- Select "Transfer Between My Accounts" (or similar): From the "Pay & Transfer" menu, look for an option like "Transfer between my accounts" or "Transfer to external accounts."
- Link External Account (First Time Only):
- If you haven't linked the external account before, you'll need to do so. This usually involves providing the recipient bank's routing number, account number, and account type.
- Bank of America will then initiate small "micro-deposits" (usually a few cents) into that external account.
- You'll need to verify these amounts within the Bank of America app, typically within 2-3 business days. This confirms you own the account.
- Initiate Transfer: Once the external account is linked:
- Select your Bank of America account as the "From" account.
- Select the newly linked external account as the "To" account.
- Enter the desired transfer amount.
- Choose the transfer frequency (one-time, recurring) and date.
- Review and Confirm: Review all the transfer details. Ensure the amount and recipient account are accurate. Tap to confirm.
- Confirmation: You'll receive a confirmation message. ACH transfers typically take 1-3 business days to complete.
For Wire Transfers:
- Select "Wire": Within the "Pay & Transfer" section, tap on "Wire."
- Start a New Wire: If it's your first time sending a wire or to a new recipient, select "Start a wire" or "Add new recipient."
- Choose Domestic or International: Select whether you're sending a domestic (within the U.S.) or international wire.
- Enter Recipient Details: Carefully input all the recipient's information you gathered in Step 2, Option C (name, address, account number, bank name, routing number/SWIFT code). Precision is key here, as errors can lead to delays or lost funds.
- Select "From" Account: Choose the Bank of America account you wish to wire funds from.
- Enter Amount: Specify the amount to be wired. Be aware of any wire transfer fees, which will usually be displayed at this stage.
- Review and Authorize: This is a critical step. Double-check every single detail. Wire transfers are often irreversible. You may need to authorize the transfer using a security key, a code sent to your phone, or by answering security questions.
- Confirmation: You'll receive a confirmation that your wire transfer has been submitted. You can usually track its status within the app. Domestic wires typically arrive the same business day if sent before the cutoff time (often 5 PM ET for Bank of America), while international wires can take 1-5 business days.
Step 5: Confirmation and Tracking
After you've initiated your transfer, whether via Zelle, ACH, or wire, you'll receive a confirmation.
- Immediate Confirmation: For Zelle, this is usually instantaneous. For ACH and wires, you'll get confirmation that the transfer has been initiated.
- Activity Section: You can typically view the status of your transfers in the "Activity" section within the "Pay & Transfer" menu of the Bank of America app. This allows you to track whether the funds have been sent and received.
- Email/SMS Alerts: Depending on your notification settings, Bank of America may send you email or SMS alerts about the status of your transfer.
Important Considerations and Best Practices
- Limits: Be aware that each transfer method has daily, weekly, or monthly limits.
- Bank of America Zelle Limits: Typically up to $3,500 per day for personal accounts, and $20,000 per month. Business account limits are higher (e.g., $15,000 daily, $60,000 monthly). These can vary based on your account history and relationship with the bank.
- Bank of America External Transfer (ACH) Limits: These can vary, but generally, personal transfers might have daily limits in the thousands of dollars.
- Bank of America Wire Transfer Limits: While Bank of America states a $1,000 limit for outbound domestic and international wire transfers in some documents, actual limits can be much higher and are often tied to your account type and relationship with the bank. For large transfers, it's always best to contact Bank of America directly or visit a financial center to confirm your specific limits.
- Fees:
- Zelle: Bank of America generally does not charge fees for sending or receiving money with Zelle.
- External Account Transfers (ACH): Usually free for standard transfers. Expedited transfers might incur a fee.
- Wire Transfers:
- Domestic Outbound Wire: Typically $30.
- International Outbound Wire (in USD): Typically $45.
- International Outbound Wire (in foreign currency): Often $0 wire transfer fee, but exchange rate markups apply.
- Remember: Intermediary banks may also charge fees, which could reduce the amount the recipient receives.
- Security: Always double-check recipient information. Once a Zelle or wire transfer is sent, it can be extremely difficult, if not impossible, to reverse.
- Cut-off Times: Transfers have daily cut-off times (often 5 PM ET for Bank of America). Transfers initiated after the cut-off time will be processed on the next business day.
- Weekend/Holiday Transfers: Transfers initiated on weekends or holidays will be processed on the next business day.
- Scam Awareness: Be extremely cautious of requests to send money to unknown individuals, especially if you're pressured or it seems too good to be true. Zelle should only be used with people you trust.
Frequently Asked Questions (FAQs)
Here are 10 common questions related to transferring money from the Bank of America app to another bank, with quick answers:
How to check my Bank of America Zelle daily limit? You can typically find your specific Zelle limits within the Zelle section of the Bank of America app, or by checking the terms and conditions on the Bank of America website for Zelle. For personal accounts, it's generally up to $3,500 daily.
How to add an external bank account to Bank of America for transfers? Go to "Pay & Transfer" in the Bank of America app, select "Transfer between my accounts" or "Transfer to external accounts," and follow the prompts to "Add new recipient" or "Link external account." You'll need the routing and account number of the external bank.
How to send money internationally using the Bank of America app? You can send international wire transfers directly from the Bank of America app. Navigate to "Pay & Transfer," then "Wire," and select the international wire option. You'll need the recipient's bank details, including their SWIFT/BIC code.
QuickTip: Check if a section answers your question.
How to cancel a pending transfer in the Bank of America app? For scheduled or pending transfers (like ACH or future-dated Zelle payments), you can often cancel them in the "Activity" section under "Pay & Transfer." Immediate Zelle payments and completed wire transfers are generally irreversible.
How to find my Bank of America routing number for incoming transfers? You can find your Bank of America routing number within the app by selecting your account and looking for "Account & Routing #" or "Account details." The domestic wire routing number for Bank of America is 026009593.
How to know if a Zelle payment was successful? You'll receive a confirmation message in the app and usually an email or SMS alert. The recipient will also be notified, and funds typically appear in their account within minutes if they are enrolled in Zelle.
How to avoid fees when transferring money from Bank of America? Using Zelle for person-to-person transfers within the U.S. is generally free. Standard ACH transfers to linked external accounts are also typically free. Wire transfers, especially international ones, usually incur fees.
How to increase my transfer limits on the Bank of America app? Transfer limits are generally set by Bank of America based on your account type, history, and relationship. For higher limits, especially for wire transfers, you may need to contact Bank of America directly or visit a financial center to discuss your options.
How to verify an external account for Bank of America transfers? After adding an external account, Bank of America will usually send small "micro-deposits" (e.g., $0.15 and $0.23) to that account. You'll need to log back into the Bank of America app and enter these exact amounts to verify ownership.
How to track a wire transfer sent from the Bank of America app? After initiating a wire transfer, you can typically track its status in the "Activity" section within the "Pay & Transfer" menu of the Bank of America app. You may also receive email confirmations.
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