While these two institutions are competitors in the broader banking market, moving your own money between accounts at each is generally straightforward and free. While setting up the link takes a few days for verification, it establishes a permanent pathway for future transfers without needing to re-enter details.
How to Transfer Money from Bank of America to Chase Account
Federal regulations like NACHA govern the speed and cost of Automated Clearing House (ACH) transfers, which are the standard electronic method for moving funds between banks. Once verified, select the Chase account as the destination and specify the amount to transfer.
Method 1: The External Transfer The most traditional and reliable method involves linking your Chase account to your Bank of America online banking portal. Because you are initiating a transfer from one financial institution to another, you cannot simply use a Zelle-like instant payment network directly, as those platforms typically require both parties to be customers of the same network.
How to Send Money from Bank of America to Chase: Step-by-Step Transfer Methods
Understanding the Transfer Landscape The landscape for sending money from Bank of America to Chase is defined by regulation and technology. Cost Approximately $35 for domestic outgoing wires.
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