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Log into your bank's website or connect via the bank's app. Click on the transfer feature and choose transfer to another bank. Enter the routing and account numbers for the account at the other bank. Make the transfer.
You can schedule future-dated transfers between your Bank of America accounts up to a year in advance. Recurring transfers can be made at regular intervals, such as once a week, once a month, every 3 months and more.
The customer instructs their bank to transfer the relevant amount to the business' bank account, including the unique reference code to indicate the purpose of the transfer. The customer's bank transfers the funds to the business' bank. The business receives the funds into their account, noting the reference code.
A bank transfer is when money is sent from one bank account to another. Transferring money from your bank account is usually fast, free and safer than withdrawing and paying in cash.
To perform a transfer, sign in to your account and select Transfers from the navigation menu. You'll need to know the account number and transit routing number of the recipient.