Transferring money between your Bank of America accounts can be simple when you know the available options and steps. This guide walks you through the most reliable ways to move funds instantly while keeping your details secure.
Whether you are shifting cash between personal accounts or managing business needs, understanding the features, limits, and timing helps you avoid delays and unexpected fees.
| Method | Typical Speed | Fees | Daily Limits |
|---|---|---|---|
| Online Transfer Between BofA Accounts | Same day or next business day | No fee for most personal transfers | Up to available balance, often $100,000 |
| Mobile App Transfer | Instant for enrolled accounts | No fee | May align with standard transfer limits |
| External Account Transfer | 1–3 business days | No fee for standard ACH | Varies, often $1,000–$5,000 |
| Wire Transfer (Domestic) | Same day | $25 outgoing, $15 incoming (varies) | Higher limits, subject to review |
| Check or Cash Deposit | Several business days | No fee for standard processing | Subject to hold periods |
How to Transfer Money Between Bank of America Accounts
Moving money between your own Bank of America accounts usually takes just a few minutes online. You can use the web dashboard or the mobile app to send funds without extra fees, as long as the accounts are in good standing.
Both checking and savings accounts can typically receive transfers, and you can schedule recurring transfers for bills or savings goals. Make sure you verify account numbers to prevent misdirected payments.
Transfers between accounts at the same bank often settle faster than external transfers, because the funds move within Bank of America’s internal systems rather than crossing external networks.
Using the Bank of America Online Banking Portal
The desktop banking site gives you a clear view of balances and transfer history, which is helpful for budgeting and record keeping. You can initiate one-time or recurring transfers with just a few clicks.
Step-by-step transfer process
- Log in and choose the account you want to send from.
- Select the transfer option and choose the destination account.
- Enter the amount and confirm the transfer details before submitting.
You will usually see a confirmation screen with a transfer ID for your records. Save or screenshot this information until the transaction completes.
Mobile App Transfers and Instant Options
The Bank of America mobile app is optimized for quick transfers, and it often shows balances and transfers in real time. You can send money to another account you own instantly if both accounts are enrolled.
App-specific features
- Touch ID or Face ID for secure, fast login.
- Bill pay and internal transfers in one interface.
- Alerts for large or unusual transfer attempts.
Because the app syncs with the same security systems as online banking, you get comparable fraud monitoring and the ability to lock your card or reset passwords quickly if needed.
External Transfers and Wire Options
When you move money to an account at another bank, timing and limits become more important. Standard ACH external transfers usually take a few business days, while wire transfers can be same day for an additional fee.
Fees and limits overview
- Incoming domestic wire fees may apply depending on account type.
- Daily transfer limits may be lower for external accounts than internal ones.
- Large transfers may require additional verification or advance scheduling.
If you need the funds quickly, choose a wire and confirm cut-off times for same-day processing. For non-urgent moves, standard ACH is typically free and sufficient.
Key Takeaways for Safe and Fast Transfers
- Use online banking or the mobile app for instant internal transfers with no fees.
- Verify account numbers and details before you submit each transfer.
- Check daily and monthly transfer limits to avoid declined requests.
- Choose wire transfers for same-day external payments when timing is critical.
- Save confirmation IDs and monitor statements for any unusual activity.
FAQ
Reader questions
How long does it take to transfer money between two Bank of America accounts?
Transfers between accounts at Bank of America are often completed the same day or by the next business day when initiated online or through the mobile app.
Is there a fee to move money between my Bank of America accounts?
No, most internal transfers between your own Bank of America accounts do not incur a fee, whether you use online banking or the mobile app.
Can I set up automatic transfers between my Bank of America accounts?
Yes, you can schedule recurring transfers through online banking or the mobile app to automatically move fixed amounts on specific dates.
What happens if I enter the wrong account number while transferring?
Entering an incorrect account number can delay the transfer or send funds to the wrong account, so always verify details before confirming the transaction.