If you need to regularly send money from your Bank of America account to somebody else, you can either send an ACH transfer or a wire transfer. The first one is free, the second one is fast. You can set up recurring transfers online. The process takes just a few minutes.
If you need to regularly send money to someone from your Bank of America account, you can easily do it with a recurring electronic transfer. You have a couple of different options for sending them.
There are two ways of sending money electronically: ACH transfers and wire transfers. ACH transfers are processed in large batches by third party processors known as clearinghouses. This makes them so cheap that your bank will send them for free. However, these transfers can take a day or more to reach their intended recipients. Wire transfers are a lot faster, typically completing in hours, because they are sent directly from one bank account to another without the clearinghouse processing. Each wire transfer will cost you $30. ACH transfers are usually best for recurring transfers for this reason.
Follow this procedure to set up a regularly recurring transfer from your Bank of America account:
If you have questions about recurring transfers, ask a Bank of America customer service representative by phone or in the help forum.
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