MBA- Finance- Various roles within Bank of America from Small Business Development Officer, Small Business...
If you are enrolled in Bank of America online banking, transfers are very easy. First on the transfers tab, click transfers outside the bank, and then follow the steps. The first step is to set up your safe pass code. The instructions will appear to apply for safe pass code. Once you have applied for the safe pass code, in the transfers tab click set up recipient. You will need the routiing number(ABA) for your receiving bank and the account number and the address of the bank
If it is your account, then if you do a wire transfer, the fee is $45.00, however if you schedule a 3 day transfer(ACH), there is no fee, but it takes 3 days to get to the recipients acct. If you are the receiving banks account holder, BOA will ask you to verify the acct before doing any transfers. BOA will deposit few cents and withdraw few cents and you need to verify these amounts on your online banking. Once the verification is complete you can transfer funds from your acct at BOA to any of your accts other than BOA.
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