The fastest way: Bank-to-bank transfer through SoFi
SoFi lets you link your Bank of America account and pull money directly into your SoFi checking or savings account. This is the quickest route and usually takes one to two business days. You do not need to visit a branch or call anyone — the whole process happens in the SoFi app or website.
Log into SoFi, go to the transfer or funding section, and select "Link a bank account." You will enter your Bank of America login credentials (SoFi uses a secure third-party connection, so your password stays encrypted). Once linked, you can transfer any amount up to your daily limit, which SoFi sets based on your account history — typically $5,000 to $25,000 per day for new accounts, higher for established ones.
The transfer posts to your SoFi account within one to two business days. If you need the money faster, SoFi offers instant transfers for a $0.25 fee, which usually land in minutes to a few hours. This is worth it if you are moving money to cover a bill or payment that cannot wait.
Key Takeaways
- Linking your Bank of America account in the SoFi app is the standard method and takes one to two business days at no cost.
- SoFi's instant transfer option costs $0.25 and moves money in minutes to a few hours if you need it urgently.
- Your daily transfer limit depends on your account age and history; new accounts typically start at $5,000 to $25,000 per day.
- If the bank-to-bank link fails, you can transfer via ACH using your Bank of America routing and account numbers, though this takes the same one to two business days.
- Never transfer through a third-party payment app or wire service unless you have no other option — fees are higher and the process is slower.
What happens if the bank link fails or will not connect
Sometimes SoFi cannot verify your Bank of America account through the automated link. This usually happens if your Bank of America login uses multi-factor authentication that the connection cannot complete, or if your account is very new.
If the link fails, SoFi will offer you the manual ACH route: you enter your Bank of America account number and routing number (1010) by hand, and SoFi initiates an ACH transfer. This takes the same one to two business days but requires you to have that information ready. You can find both numbers on a check, in your Bank of America online banking under account details, or by calling Bank of America customer service.
A third option is to transfer money from Bank of America to SoFi using your Bank of America app instead. Log into Bank of America, go to transfers, and add SoFi as an external account using the same manual entry method. This works just as well and some people find it easier to manage from their primary bank's interface.
Transfer limits and how they change over time
SoFi sets daily and monthly transfer limits based on your account age and history. A brand-new SoFi account might have a $5,000 daily limit, while an account that has been active for six months or longer may allow $25,000 or more per day. SoFi does not publish exact thresholds — they adjust automatically as your account proves itself.
If you need to move more than your daily limit, you can split the transfer across multiple days. For example, if your limit is $10,000 and you need to move $20,000, transfer $10,000 today and $10,000 tomorrow. Both will complete within one to two business days of when you initiate them.
You can check your current limit in the SoFi app under transfer settings or by contacting SoFi support. If you regularly move large amounts, your limit will likely increase after a few months of activity.
Using a debit card or ATM withdrawal as an alternative
If you want to avoid the one- to two-day wait, you can withdraw cash from a Bank of America ATM using your debit card, then deposit it into SoFi. This is slower in practice than it sounds — you have to physically get to an ATM, withdraw the cash, and then deposit it (either at an ATM if SoFi has one in your area, or by mobile check deposit through the SoFi app). It also exposes you to the risk of carrying cash.
Mobile check deposit through SoFi is faster than an ATM deposit. If you can write a check from your Bank of America account, deposit it to yourself, and photograph it with your phone, SoFi usually posts the funds within one business day. But this only works if you have checkbooks from both accounts.
For most people, the bank-to-bank transfer or instant transfer is simpler and safer than handling cash or checks.
Fees and what to watch for
Standard transfers from Bank of America to SoFi cost nothing. Bank of America does not charge you to send money out, and SoFi does not charge you to receive it. The only fee is SoFi's $0.25 instant transfer fee if you choose that option.
Avoid using third-party payment apps like PayPal, Venmo, or Cash App to move money between your banks. These services charge 1 to 3 percent of the transfer amount, take longer, and are meant for peer-to-peer payments, not bank transfers. A $5,000 transfer through PayPal would cost you $50 to $150 — far more than SoFi's instant option.
Wire transfers are even more expensive. Bank of America charges $15 to $30 per outgoing wire, and SoFi may charge a receiving fee as well. Use a wire only if you are moving money to someone else's account or if the bank-to-bank link is genuinely unavailable.
How to reverse a transfer if you sent money by mistake
If you transferred money to SoFi and then realized it was a mistake, you have a short window to stop it. If the transfer has not yet posted to SoFi (still in progress), you can cancel it through the SoFi app — go to your transfer history, find the pending transfer, and select cancel. This works for standard transfers that are still one to two days out.
If the transfer has already posted to your SoFi account, you cannot cancel it through SoFi. Instead, you need to transfer the money back to Bank of America using the same method. Initiate a transfer from SoFi to Bank of America, and it will arrive within one to two business days. This is not a reversal — it is a new transfer in the opposite direction — but it accomplishes the same thing.
If you sent money to the wrong SoFi account by mistake (someone else's account), contact SoFi support immediately. They can sometimes recall the transfer if it has not posted yet, but once it lands in another person's account, recovery becomes much harder and may require that person's cooperation.
Timing: when transfers actually post
Bank of America and SoFi both process transfers on business days only. If you initiate a transfer on Friday evening, it will not start processing until Monday morning. A transfer initiated on Monday will typically post by Tuesday or Wednesday.
Weekends and federal holidays do not count toward the one- to two-business-day window. If you transfer money on Friday, do not expect it to arrive until Wednesday at the earliest.
Instant transfers bypass this delay and usually land within minutes to a few hours, regardless of the day or time. If you need money by a specific deadline, instant transfer is the only option that guarantees speed.
Frequently Asked Questions
Can I transfer money from SoFi back to Bank of America?
Yes, the process works in reverse. Link your Bank of America account in SoFi's transfer settings, or manually enter your Bank of America account and routing numbers. Transfers back to Bank of America take one to two business days and cost nothing. Instant transfers are available in both directions for $0.25.
What if Bank of America blocks the transfer?
Bank of America sometimes flags transfers to new external accounts as a fraud prevention measure. If this happens, you will see a message in your Bank of America app or receive a call. Confirm the transfer is legitimate, and Bank of America will allow it to proceed. After the first transfer goes through, future transfers to SoFi usually process without delay.
Do I need to have a certain balance in my Bank of America account?
No. You can transfer any amount up to your daily limit, as long as the funds are available in your Bank of America account. If you try to transfer more than your balance, the transfer will fail. SoFi will notify you and you can try again with a smaller amount.
How long does it take to link my Bank of America account to SoFi?
The link usually completes instantly if your Bank of America login works on the first try. If SoFi needs to verify your account with small deposits (a rare security step), that can take three to five business days. Most people do not experience this delay.
Can I set up automatic transfers from Bank of America to SoFi?
Yes. Once your Bank of America account is linked in SoFi, you can schedule recurring transfers — daily, weekly, or monthly. Set the amount and frequency in the SoFi app, and the transfers will happen automatically on the schedule you choose, subject to your daily limit.