Investing Simple Logo
Get 1 Free Stock Worth Up To $200 From Robinhood!
Sign up with Robinhood, deposit any amount and get 1 Free Stock. It takes less than 3 minutes to sign up and claim your Free Stock Bonus.
Earn 5.00% APY with M1 High-Yield Savings Account
M1 Plus members can earn 5.00% APY on their deposits with no minimum balance required.
Webull free stock promotion
Get Up To 5 Free Stocks From Webull
Open a new Webull brokerage account today and deposit any amount of money to receive 5 free stocks. Webull offers commission free stock, ETF, option and crypto trading.
Written by Drew Cochran on April 24, 2023
Category: 
FTC Disclosure: Some of the links on this site are affiliate links. Read our full disclaimer here.

How To Transfer From Wells Fargo To Bank Of America

Wells Fargo and Bank of America are two of the largest and most trusted banks in the United States.

Both offer a wide range of financial services, including online banking options that allow you to easily manage your accounts from anywhere.

However, transferring money between bank apps can sometimes be a frustrating and confusing process, especially if you're not familiar with the online platforms.

In this tutorial, we'll walk you through the steps needed to transfer money from Wells Fargo to Bank of America.

Limited Time: Robinhood 1% Transfer Bonus

If you transfer an existing brokerage account to Robinhood through December 8th, 2023, you can get an Unlimited 1% Transfer Bonus.

Robinhood Transfer Bonus

For example, if you transferred a brokerage account worth $50,000 - that would be a bonus of $500.

In addition, Robinhood offers a free stock for new users as well as a 1% IRA match for retirement accounts.

Best Free Stock Promotions

BrokeragePromotionLink
Robinhood Logo1 Free Fractional Share Worth $5 To $200Claim Bonus
Webull Logo6 Free Fractional Shares When You Deposit $1+Claim Bonus
Moomoo Logo5 Free Stocks When You Deposit $100+Claim Bonus
Acorns Logo$20 Bonus When You Invest $5+Claim Bonus

How To Transfer From Wells Fargo To Bank Of America

The main two ways you can transfer money between banks is an ACH transfer (Automated Clearing House), or through a wire transfer.

With the ACH transfer, you can move your money for free, over the course of 2-3 business days. With a wire transfer, you can pay some fees to access your money in the other account on the same business day.

For both of these transfers, you’re going to need to have your Bank of America account and routing numbers. 

You can find this information by following these quick steps:

  1. Log into your Bank of America account online
  2. Select your account under the Accounts Overview page
  3. Open your Information & Services tab to display your account information, including your ABA routing and account number.

Copy this information down in a safe way.

Now we'll explain how to make an ACH transfer, with the instructions for the wire transfer method after!

ACH Transfer Method

With the ACH transfer, you don't have to pay any fees, though the transaction processing speed is slower than instant.

  1. Log in to your Wells Fargo online banking account.
  2. Click on the "Transfers & Payments" tab.
  3. Select the "Transfer Money" option.
  4. Inside the "To" label's dropdown options, choose "Add non-Wells Fargo Account".
  5. Enter the routing number and account number of your Bank of America account and click "Continue".
  6. Verify the account information and click "Submit".
  7. Once the account has been added, select the account as the transfer source, enter the amount you wish to transfer, and select the Bank of America account as the recipient.
  8. Confirm the transfer details and complete the transfer.

Note: There may be daily or monthly limits on the amount you can transfer via ACH, and that transfers can take up to 2-3 business days to complete.

Wire Transfer Method

With a wire transfer, the deposited money is accessible in the recipient's account on the same business day, for a fee.

  1. Log in to your Wells Fargo online banking account.
  2. Click on the "Transfers & Payments" tab.
  3. Select the "Wire Money" option.
  4. Enroll in Wells Fargo Wire Transfers programs by accepting their terms and conditions
  5. Choose your bank's country and enter your Bank of America account information, including the routing number and account number.
  6. Once the account has been added, select it as the recipient.
  7. Enter the amount you wish to transfer and any necessary information (such as the recipient's name and address).
  8. Review the transfer details and confirm the transaction.
  9. Follow any additional on-screen instructions to complete the wire transfer.

Note: It's important to note that wire transfers typically involve fees, which may vary depending on the bank and the transfer amount.

Don't Forget These Details!

In any transfer situation, taking it slow and steady is the winning choice. Make sure to take time and double-check the information you're copying and entering, and make sure you choose the right amount of money you want to transfer over.

If you send your money to the wrong address, you won't be able to get it back, especially with wire transfers.

Be extra careful when doing wire transfers specifically, as they are often targeted by scammers and online thieves.

Make sure you have the correct account information, as well as trust the person who you're sending the money to, before making an irreversible mistake.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Drew Cochran

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2023 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™
magnifiermenuchevron-downcross-circlechevron-down-circle

Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

18749
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram