The fastest way to deposit money into your Bank of America savings account

You can move money into a Bank of America savings account through your online banking portal, a mobile app, an ATM, or by visiting a branch in person. The method you choose depends on how much money you're depositing, whether you have the account open already, and how quickly you need the funds to show up.

If you're transferring money from another Bank of America account you already own, the transfer happens instantly in most cases. If you're depositing cash or a check, or transferring from an outside bank, the timing varies—some deposits clear the same day, others take one to three business days.

Key Takeaways

  • Online transfers between your own Bank of America accounts are usually instant, while transfers from outside banks typically take one to three business days.
  • Cash deposits at a Bank of America ATM or branch post immediately, but checks deposited through mobile app or ATM may take one to two business days to clear.
  • You can set up automatic recurring transfers from a checking account to savings if you want money to move on a schedule you choose.
  • Bank of America charges no fee for moving money between your own accounts, but some external transfer services may charge a fee on their end.

Transferring money from your Bank of America checking account

Log into your Bank of America online banking account or open the mobile app. Navigate to the transfer section—usually labeled "Transfer Money" or "Transfers & Payments." Select the checking account as the source and your savings account as the destination. Enter the amount and confirm.

The transfer posts immediately to both accounts in most cases. You'll see the debit in checking right away and the credit in savings right away. No fee applies when you move money between accounts you own at Bank of America.

If you want this to happen automatically on a set schedule—say, $200 every payday—you can set up a recurring transfer in the same section. Choose the frequency (weekly, biweekly, monthly, or a custom date) and Bank of America will move the money on that schedule until you cancel it.

Depositing cash or checks at an ATM or branch

Bank of America ATMs accept both cash and check deposits. Insert your debit card, select "Deposit," and follow the prompts. For cash, the machine counts it and confirms the amount before accepting it. For checks, the ATM scans the front and back and displays what it read—verify the amount is correct before confirming.

Cash deposits post to your account immediately. Check deposits typically post within one business day, though Bank of America may hold the funds for up to two business days depending on the check amount and your account history. You'll receive a receipt showing the deposit amount and your new balance.

If you prefer to deposit in person, visit any Bank of America branch during business hours. Hand your cash or checks to a teller, provide your account number or debit card, and they will process the deposit. Cash posts immediately; checks post within one to two business days.

Transferring money from an outside bank

To move money from a checking or savings account at another bank into your Bank of America savings account, you need to set up an external transfer. In your Bank of America online banking portal, go to "Transfer Money" and select "Transfer from another bank." You'll need the routing number and account number of the outside account.

Bank of America will verify the outside account by depositing two small test amounts (usually under $1 each) into it. Check your statement at the other bank for these deposits, then return to Bank of America and enter the amounts to confirm you control that account. This verification step takes one to two business days.

Once verified, you can transfer money from that account to your Bank of America savings account. The transfer typically takes one to three business days to complete. Bank of America does not charge a fee for incoming transfers, but your outside bank may charge a fee for outgoing transfers—check with them before initiating.

Using mobile check deposit

The Bank of America mobile app lets you deposit checks without visiting an ATM or branch. Open the app, tap "Deposit a Check," and follow the prompts to photograph the front and back of the check. The app will display what it read from the check—verify the amount, check number, and payee name are correct.

Select which account to deposit into (your savings account in this case), confirm the amount, and submit. The check is now in the system. Most checks clear within one business day, though Bank of America may hold funds for up to two business days depending on the check amount.

Do not deposit the physical check anywhere else after you've submitted it through the app. Write "Mobile Deposit—Do Not Deposit" on the back of the check and keep it for your records for at least 30 days in case Bank of America needs to verify it.

Setting up direct deposit to your savings account

If your employer or a government agency (such as Social Security) sends you regular payments, you can direct those deposits straight into your Bank of America savings account instead of checking. Contact your employer's payroll department or the agency sending the payment and provide them with your Bank of America account number and the bank's routing number.

Bank of America's routing number is 026009593 for most accounts, but confirm this with your bank before giving it to your employer—routing numbers can vary by region. Once your employer has the information on file, your next payment will deposit directly into savings. This typically takes one to two pay cycles to take effect.

Direct deposits are free and usually post on the scheduled payment date. You can change which account receives your direct deposit at any time by updating your information with your employer or the paying agency.

Frequently Asked Questions

How long does it take for money to show up after I transfer it?

Transfers between your own Bank of America accounts are instant. Transfers from outside banks take one to three business days. Cash deposits at an ATM or branch post immediately. Checks typically post within one to two business days, though Bank of America may hold them longer depending on the amount.

Can I deposit money into someone else's Bank of America savings account?

Yes, if you know their account number and routing number, you can transfer money to them from your Bank of America account or from an outside bank. You can also deposit cash or a check made out to them at a Bank of America branch or ATM if you have their account number. The account holder should confirm they want to receive the deposit before you send it.

What happens if I deposit a check that bounces?

If the check is returned unpaid, Bank of America will reverse the deposit from your savings account. You'll see a debit for the check amount plus a returned-item fee (typically $12 to $15). The account holder who wrote the check is responsible for making it good, but you may need to contact them directly to resolve it.

Is there a limit to how much I can deposit?

Bank of America does not set a daily or monthly limit on deposits into savings accounts. However, if you deposit more than $10,000 in cash within a single day, the bank is required by federal law to file a Currency Transaction Report—this is routine and does not indicate wrongdoing. Extremely large or frequent cash deposits may trigger additional review.

Can I deposit money at a Bank of America ATM that's not at my branch?

Yes. Bank of America ATMs are networked, so you can deposit into your savings account at any Bank of America ATM regardless of which branch your account is tied to. You can also deposit at ATMs owned by other banks that are part of the Allpoint or MoneyPass networks, though those may have different terms or fees.