Most of the time, transferring money from your Bank of America account to Chase is usually safe, easy, and faster than withdrawing and paying in cash.
Whether you want to pay tuition, split the cost of a dinner, or send money to a business partner, it is safer to use the transfer button on your bank account.
This article has been put together to enlighten you on exactly how to transfer money from Bank of America to Chase bank.
Here is a little overview on the two banks.
Chase bank is a leading financial institution that is noted for its probity and accountability. Bank of America on the other hand holds more domestic deposits than any other bank in the USA. They are the two biggest banks in the USA with lots of arguments about which is the best.
Chase has more checking and savings options than Bank of America, so it’s convenient for conducting all of your banking in one place, lower monthly fees, and initial deposits. But, Bank of America has a slightly higher interest rate.
Now back to our subject! Read below for how to transfer funds from Bank of America to Chase bank.
Can you Transfer Money from Bank of America to Chase Bank?
Of course! People transfer money from one bank to another. Many banks even offer transference of money from a local bank to an international account. Therefore, you can definitely transfer money from Bank of America to Chase.
Below we will talk about the mediums through which you can transfer money from Bank of America to Chase.
How Much Does It Cost to Transfer Money from Bank of America to Chase bank?
You can basically transfer money from Bank of America to Chase bank for a fee of $3 if the transfer is to be done within 3 business days.
Similarly, the transaction fee increases to $10 if the transfer of money will be done the next day.
If you are wondering if this transfer can be done free of charge, we have that answered as well. And yes, you can transfer money from the Bank of America to Chase for free.
This can be done for free if:
How Long Does it take to Transfer Funds from Bank of America to Chase bank?
To transfer funds from a bank of America account to a Chase bank account before 11:59 p.m. ET on a bank business day for same-day credit.
All transfers are credited immediately.
What is the Transfer Limit of Bank of America?
Generally, most banks have a transfer limit depending on the type of account you operate.
However, the ACH transfer limits are currently set to $3,000 per day or $6,000 per month for standard delivery.
ACH transfer is an electronic means to move money between accounts in different banks. They enable you to send or receive money conveniently and securely. Again, they are more cost-efficient than writing checks or paying with a credit or debit card.
How To Transfer Money from Bank of America to Chase Bank?
This section answers the question “how to transfer money from boa to Chase”.
Use the mediums below to transfer money from Bank of America to Chase bank are listed below.
#1 Online Banking
You can transfer money from Bank of America to Chase bank through online banking.
You may access online banking using the mobile banking app or directly from the website.
There are more features in the web version of Bank of America’s mobile app called Mobile Web.
To use the Bank of America Online Banking to transfer money to Chase bank, the business days are Monday through Friday, excluding bank holidays.
From the mobile app, the process of transferring money is thus:
#2 Email/Mobile Transfer Network Service
Email/Mobile Transfers allows you to send money from your Bank of America personal checking or savings account to a Chase bank account using the recipient’s email address or mobile phone number.
However, for this email /mobile transfer service to work, the bank receiving the funds from the Bank of America must be a US-based bank.
Many Bank of America accounts holders transfer money to both personal and business accounts using email and phone numbers.
How do I Use the Email/Mobile Transfer Network Service?
In order to use the Bank of America email/mobile transfer network service to transfer money to a Chase bank account, you must register through Online Banking from your personal computer or Mobile Banking from your mobile device.
In addition, the Chase account holder must also register in Chase bank’s email/mobile Transfer Network or with ClearXchange.
Fortunately, Chase bank uses Chase QuickPay with Zelle that allows you to receive money from almost every email address and phone number in the USA.
Actually, clearXchange was originally owned by Bank of America, JPMorgan Chase, and Wells Fargo before it was sold to Early Warning Services in January 2016.
Once you have completed the registration, you can transfer money from bank of America to Chase bank through Online Banking or Mobile Banking by entering the email address or mobile phone number of the recipient.
This registration must be done 14 days before you can use this service to transfer money to a Chase account. Also, if the Chase account holder doesn’t set up his email/mobile transfer service, and accepts the transfer within 14 days, the transaction will be canceled.
Is the Email/Mobile Transfer Service of Bank of America Free to Use?
There is no fee for sending money under the email/mobile transfer service. The mobile carrier may charge you for text messages.
How do I get my Money from clearXchange?
It is a pretty easy process.
It is important to bear in mind that clearXchange.com can only be used to receive money. You can’t transfer money with it.
First, signup/enroll with clearXchange. You have enrolled with a bank account to where all your funds will be sent to.
The money you receive is sent directly into your enrolled bank account.
Then, if you want to send that money to a different bank account order than the one you registered with, you must enroll with Zelle through a participating bank or credit union, or download the Zelle app.
#3 Service to Funds
This service requires that you link your Bank of America accounts to the Chase bank account. The two accounts have to belong owned by the same recipient.
Through this medium, you can transfer money from the Bank of America account to Chase bank and vice versa.
You should read this: Bank of America Student Loans: Refinancing and Alternatives
Can I Transfer Money from my Chase Account to Bank of America?
Definitely, you can. Here’s how:
Do you need to pay for any expenses, including paying back a friend? Send money from your Bank of America account to anyone in minutes, no matter where they bank.
You can also add recipients from your contacts and request money from multiple people to easily split a bill.
This can be done through the mobile app with Zelle (Chase bank uses Zelle as well), all you need is their mobile phone number or email address.
This article has explained the ways to transfer money from Bank of America to a Chase account. We hope you enjoyed the read.