The fastest way to transfer money to your Bank of America savings account
You can move money from your Bank of America checking account to your savings account in minutes using the mobile app, online banking, or an ATM. The transfer posts immediately if both accounts are in your name at the same Bank of America branch. If you are sending money from an outside bank, the transfer takes one to three business days and requires your Bank of America routing number and savings account number.
The method you choose depends on where the money is coming from and how quickly you need it to arrive. Internal transfers between your own Bank of America accounts are instant. Transfers from another bank's account are slower because they move through the ACH network, which processes in batches overnight.
Key Takeaways
- Transfers between your own Bank of America checking and savings accounts post instantly through the app, website, or ATM.
- Transfers from another bank take one to three business days and require your Bank of America routing number (026009593 for most regions) and your savings account number.
- You can set up recurring transfers to move a fixed amount on a schedule you choose, useful for automatic savings.
- Bank of America does not charge a fee for transfers between your own accounts, but some outside banks may charge a fee on their end.
Transferring from your Bank of America checking account
Log into your Bank of America account through the mobile app or online banking at bankofamerica.com. On the dashboard, select "Transfer Money" or look for a "Transfers" tab. Choose the checking account as your source and your savings account as the destination. Enter the amount and confirm the transfer.
The money appears in your savings account within seconds. You can transfer as much as you want, but Bank of America limits certain savings accounts to six withdrawals or transfers per month under federal regulation. If you exceed this limit, the bank may charge a fee or convert your account type. Check your account terms to see whether this limit applies to your specific savings product.
Transferring from another bank
You will need your Bank of America savings account number and routing number. Bank of America's routing number is 026009593 for most customers, though some regions use different numbers—check your Bank of America statements or call 1-800-432-1000 to confirm yours.
Log into your outside bank's website or app and look for "Send Money," "Transfer," or "Pay." Select the option to transfer to another bank account. Enter your Bank of America savings account number and routing number. Enter the amount and confirm. The transfer will process overnight and typically arrive within one to three business days. Some banks charge a fee for outgoing transfers; check with your bank before you send.
Setting up automatic recurring transfers
If you want to move money on a schedule—say, $100 every payday—you can set up a recurring transfer. In Bank of America's mobile app or online banking, go to "Transfer Money" and select "Set up recurring transfer." Choose your checking account as the source, your savings account as the destination, the amount, and the frequency (weekly, biweekly, monthly, or a custom date).
The transfer will repeat on that schedule automatically until you cancel it. This is useful for building savings without having to remember to transfer manually each time. You can edit or stop the transfer at any time through the same menu.
Using an ATM to transfer money
If you have a Bank of America debit card, you can transfer money at any Bank of America ATM. Insert your card, enter your PIN, and select "Transfers." Choose your checking account as the source and savings account as the destination. Enter the amount and confirm. The transfer posts immediately.
ATM transfers work only between your own Bank of America accounts and only if you have a debit card. This method is useful if you are away from your computer or phone, but the app and online banking offer more control and a clearer record of your transfers.
What happens if a transfer fails or takes longer than expected
Transfers between your own Bank of America accounts almost never fail. If one does not appear within a few minutes, log back into your account and check the transfer history to see whether it went through. If the money left your checking account but did not arrive in savings, contact Bank of America at 1-800-432-1000 and provide the transfer confirmation number.
Transfers from outside banks occasionally get delayed if the sending bank processes slowly or if there is a mismatch in account numbers. If your transfer does not arrive within three business days, contact your outside bank first to confirm they sent it. If they did, contact Bank of America with the transfer confirmation from your outside bank. Bank of America can trace the transfer and tell you where it is stuck.
Frequently Asked Questions
Can I transfer money from a Bank of America credit card to my savings account?
No. You can only transfer from a Bank of America checking account or from an outside bank account. Credit card balances cannot be transferred directly to savings. If you want to move money from a credit card, you would need to pay the credit card bill from your checking account first, then transfer from checking to savings.
Is there a limit to how much I can transfer at once?
Bank of America does not set a per-transfer limit for moving money between your own accounts. However, your savings account may be subject to the six-transfer limit per month under federal regulation. Transfers from outside banks may have limits set by the sending bank—check with them before you send a large amount.
Why does my transfer from another bank say "pending"?
ACH transfers from outside banks process overnight and typically take one to three business days to complete. "Pending" means the transfer is in the queue and has not yet posted. If it shows pending for more than three business days, contact your outside bank to confirm they sent it, then contact Bank of America if it still does not arrive.
Do I pay a fee to transfer money into my Bank of America savings account?
Bank of America does not charge a fee for transfers between your own accounts. Your outside bank may charge a fee for sending money out; check your account terms or call them before you transfer. Some checking accounts offer free transfers, while others charge $1 to $3 per outgoing transfer.
Can I transfer money to someone else's Bank of America savings account?
No. You can only transfer to savings accounts in your own name. To send money to someone else, use Bank of America's Zelle service (included with most checking accounts) or request a wire transfer, which costs $15 to $30 depending on whether it goes to a domestic or international account.