How To Transfer Money From Boa To Truist

People are currently reading this guide.

Life often throws curveballs, and sometimes those curveballs involve needing to move money between different bank accounts. Perhaps you're consolidating your finances, sending money to a family member who banks elsewhere, or even closing an old account. Whatever your reason, if you find yourself needing to transfer money from your Bank of America (BoA) account to a Truist account, you've come to the right place!

This comprehensive guide will walk you through the process step-by-step, explaining your options, what you'll need, and what to expect. So, let's dive in and get your money where it needs to be!

How to Transfer Money from Bank of America to Truist: A Step-by-Step Guide

There are a few primary methods for transferring money between these two institutions. We'll cover the most common and convenient ones: Zelle, External Transfers (ACH), and Wire Transfers. Each has its own advantages, so choose the one that best suits your needs in terms of speed, cost, and amount.

Step 1: Gather Your Information (Don't Skip This!)

Before you even think about logging into your bank account, let's make sure you have everything ready. This crucial first step will save you time and prevent potential headaches. Imagine getting halfway through a transfer only to realize you're missing a vital piece of information!

For the Sender (You, from Bank of America):

Your Bank of America Account Details: You'll need to know which Bank of America checking or savings account you want to transfer money from.
Your Bank of America Online Banking Login Credentials: This includes your User ID and Password.

For the Recipient (Truist Account Holder):

Recipient's Full Name: As it appears on their Truist bank account.
Recipient's Truist Account Number: Double-check this! A single digit wrong can send your money to the wrong place.
Recipient's Truist Routing Number: This is a 9-digit number that identifies the financial institution. You can usually find this on a check, in their online banking portal, or by contacting Truist directly. Be aware that Truist might have different routing numbers for different states or types of transactions (like ACH vs. Wire). It's always best to verify with the recipient or Truist.
Recipient's Account Type: Is it a checking account or a savings account? This is important for some transfer methods.
Recipient's Email Address or U.S. Mobile Number (for Zelle): If you opt for Zelle, this is all you'll need, provided they are already enrolled in Zelle with Truist.

Step 2: Choose Your Transfer Method

Now that you have all the necessary information, let's explore the best ways to send money from Bank of America to Truist.

Option A: Zelle (Fastest and Often Free)

Zelle is a great option for quick, person-to-person transfers within the U.S. If the Truist account holder is already enrolled in Zelle, the money can arrive in minutes. Both Bank of America and Truist participate in the Zelle network.

Sub-heading: How Zelle Works

Zelle allows you to send money directly between bank accounts, often within minutes, using just an email address or U.S. mobile phone number. It's integrated into many banking apps, making it highly convenient.

Sub-heading: Step-by-Step Zelle Transfer

Log in to Bank of America Online Banking or Mobile App:
- Open the Bank of America mobile app or go to their website and sign in.
Navigate to "Pay & Transfer" or "Zelle":
- Look for a section typically labeled "Pay & Transfer" or directly "Zelle" within your online banking menu.
Enroll in Zelle (if you haven't already):
- If this is your first time using Zelle with Bank of America, you'll need to enroll by linking your Bank of America checking or savings account to your email address or U.S. mobile number.
Send Money:
- Select "Send Money" or a similar option within the Zelle interface.
- Enter Recipient Information: You'll typically enter the recipient's U.S. mobile number or email address that they have enrolled with Zelle at Truist.
- Enter Amount: Input the amount you wish to send.
- Add a Memo (Optional): You can add a note for the recipient, like "Birthday Gift" or "Rent."
- Review and Confirm: Carefully review all the details – the recipient's contact information, the amount, and the "from" account. Once you confirm, the transfer is usually irreversible if the recipient is already enrolled.
- Authorize the Transfer: You might need to confirm the transfer with a one-time passcode sent to your registered phone number or email for security.

Sub-heading: Zelle Limits and Fees

Fees: Bank of America generally does not charge fees for using Zelle. Truist also typically does not charge a fee for receiving money via Zelle.
Limits (Bank of America): For personal accounts, Bank of America typically allows you to send up to $3,500 per day and $20,000 per month via Zelle. These limits can vary based on your account type and banking history. For small business accounts, limits can be higher, e.g., $15,000 daily and $60,000 monthly.
Limits (Truist): Truist generally has Zelle limits of $2,000 per day and $10,000 per rolling 30-days for personal accounts.

Option B: External Transfer (ACH Transfer)

External transfers, also known as ACH (Automated Clearing House) transfers, are a reliable way to move money between your own accounts at different banks or to send money to someone else's account. They are generally free but take a bit longer than Zelle.

Sub-heading: How ACH Transfers Work

ACH transfers are electronic payments processed through a network that facilitates interbank transactions. They are widely used for direct deposits, bill payments, and external transfers.

Sub-heading: Step-by-Step External Transfer (ACH)

Log in to Bank of America Online Banking:
- Go to the Bank of America website and sign in.
Navigate to "Pay & Transfer" and then "External Transfers" or "Transfers":
- The exact wording might vary slightly, but look for an option to transfer money to another bank.
Add a New Recipient/Account:
- If you haven't transferred to this Truist account before, you'll need to add it as an external account. This usually involves providing:
  - Recipient's Full Name
  - Truist Bank Name (Truist Bank)
  - Truist Routing Number
  - Truist Account Number
  - Account Type (Checking or Savings)
Verify the External Account (Crucial for Security):
- For security reasons, Bank of America will typically send two small "micro-deposits" (usually a few cents) to the Truist account. This can take 1-3 business days.
- Once these micro-deposits appear in the Truist account, you'll need to go back to your Bank of America online banking and enter the exact amounts of these deposits to verify the account. Do not proceed with a transfer until the account is verified.
Initiate the Transfer:
- Once the Truist account is verified, you can select it from your list of external accounts.
- Select "From" Account: Choose your Bank of America account.
- Select "To" Account: Choose the verified Truist account.
- Enter Amount: Input the desired transfer amount.
- Choose Transfer Date: You can usually choose to send it immediately or schedule it for a future date. You might also have options for recurring transfers.
- Review and Confirm: Double-check all details before confirming the transfer.

Sub-heading: ACH Transfer Limits and Fees

Fees: ACH transfers initiated through Bank of America online banking are generally free for personal accounts.
Limits (Bank of America): Daily and monthly limits for external transfers can vary based on your account and banking history. You might encounter limits around $1,000 per transaction for online transfers, though this can sometimes be increased by contacting the bank directly.
Transfer Time: ACH transfers typically take 1-3 business days to complete.

Option C: Wire Transfer (For Large Amounts or Urgent Transfers)

Wire transfers are the fastest way to send money, often completed within the same business day, but they usually come with a fee. They are ideal for large sums or time-sensitive situations.

Sub-heading: How Wire Transfers Work

Wire transfers are direct electronic funds transfers between financial institutions. They are processed individually, which is why they are faster but also more expensive.

Sub-heading: Step-by-Step Wire Transfer

Gather Detailed Information:
- You'll need all the recipient's information as listed in "Step 1," plus potentially the full street address of the Truist branch where the account is held.
Initiate the Wire Transfer:
- Online Banking (if available for wires): Bank of America offers online wire transfers. Log in and navigate to "Pay & Transfer," then look for "Wire Transfers." You may need to enroll in wire services first.
- In-Person at a Bank of America Branch: This is a common and often preferred method for wire transfers, especially for larger amounts, as a representative can guide you through the process and verify information.
- By Phone: You might be able to initiate a wire transfer by calling Bank of America's customer service.
Provide All Details:
- You'll provide all the recipient's Truist account information, including their full name, address, bank name (Truist Bank), routing number (specifically the wire routing number, which might differ from the ACH routing number), account number, and account type.
- You'll also specify the amount and the purpose of the transfer.
Pay the Fee:
- Wire transfers incur fees. These will be deducted from your Bank of America account.
Authorize the Transfer:
- You will need to authorize the transfer, often with a signature (in-person) or a security code (online/phone).

Sub-heading: Wire Transfer Limits and Fees

Fees (Bank of America):
- Outgoing Domestic Wire Transfer: Typically $30.
- Incoming Domestic Wire Transfer (to Truist): Truist may charge a fee for receiving a domestic wire, usually around $15.
Limits (Bank of America): For online domestic wire transfers, Bank of America may have a limit of $1,000 per transaction. However, you can often send much larger amounts by visiting a branch or calling customer service. Truist's wire transfer limit is $500,000 per rolling 3 business days.
Transfer Time: Domestic wire transfers can often be completed within the same business day if initiated before the bank's cutoff time (usually 5:00 PM ET for Bank of America and 6:00 PM ET for Truist). If initiated after the cutoff, it will process on the next business day.

Step 3: Confirmation and Tracking

Regardless of the method you choose, always confirm that the transfer was successful.

Check Your Bank of America Transaction History: After initiating the transfer, check your Bank of America account history to ensure the funds have been debited.
Inform the Recipient: Let the Truist account holder know that you've sent the money and by what method. This allows them to keep an eye on their account.
Recipient Confirms Receipt: The recipient should confirm once the funds have arrived in their Truist account.

Final Thoughts on Security

When transferring money, especially to another person, always exercise caution.

Verify Information: Double and triple-check all account numbers, routing numbers, and recipient names. A small error can lead to significant problems.
Trust Your Instincts: If something feels off, or you receive suspicious requests for information, stop the transfer and contact your bank directly through official channels.
Beware of Scams: Be very wary of requests to send money to people you don't know, especially if they are pressuring you or asking for a transfer for "urgent" or "emergency" reasons. Zelle, in particular, is designed for sending money to friends, family, and others you trust.

10 Related FAQ Questions

How to Find My Bank of America Routing Number?

You can find your Bank of America routing number by logging into your online banking, selecting your account, and looking under "Account Info" or "Information & Services." It's also printed on your checks.

How to Find a Truist Routing Number?

The Truist routing number can be found on their official website, by logging into a Truist online banking account, or on a Truist check. Note that it might vary by state or transaction type (e.g., ACH vs. wire).

How to Send Money from Bank of America to Truist Using Just a Phone Number?

You can send money from Bank of America to Truist using just a phone number via Zelle, provided the recipient has enrolled their Truist account with that phone number in Zelle.

How to Check the Status of an External Transfer from Bank of America?

You can check the status of an external transfer by logging into your Bank of America online banking or mobile app and navigating to the "Pay & Transfer" or "Transfers" section, then looking for "Activity" or "Scheduled Transfers."

How to Cancel a Money Transfer from Bank of America to Truist?

Zelle transfers are generally instant and irreversible if the recipient is enrolled. ACH transfers can sometimes be canceled if they are scheduled for a future date or if you catch them before processing begins, but you must act quickly by contacting Bank of America customer service. Wire transfers are also very difficult to recall once sent.

How to Transfer Large Amounts of Money from Bank of America to Truist?

For large amounts, a wire transfer is the most suitable method. You may need to visit a Bank of America branch or call their wire transfer department, as online limits can be lower for wires.

How to Avoid Fees When Transferring Money from Bank of America to Truist?

To avoid fees, use Zelle for smaller, instant transfers or a standard ACH external transfer (which typically takes 1-3 business days). Wire transfers almost always incur fees.

How to Transfer Money from Bank of America to Truist if I Don't Have Online Banking?

If you don't have online banking, you can perform a transfer by visiting a Bank of America branch in person. You may be able to initiate an external transfer or a wire transfer directly with a teller.

How to Troubleshoot a Delayed Money Transfer from Bank of America to Truist?

First, check your Bank of America transaction history to see if the transfer was initiated. If it was, and the expected time frame has passed, contact Bank of America customer service. Have your transaction details ready. If it was an ACH transfer, ensure the micro-deposits were verified.

How to Set Up Recurring Transfers from Bank of America to Truist?

You can usually set up recurring external (ACH) transfers through your Bank of America online banking portal. When initiating a new external transfer, look for an option to set the frequency (e.g., weekly, bi-weekly, monthly) instead of a one-time transfer. Zelle may also offer recurring payment options.

6257240617223909068