Bofa External Transfer Limits

sjg | Oct 21, 2021 | 9 posts since 2019

Bank of America limits my external ACH transfers to $1,000 per day. Does anyone know if this low limit can be worked around by initiating the pull from my external bank? Thanks for your input.

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Answers

enduser | Oct 27, 2021 | 711 posts since 2015

One thing not mentioned is that BoA charges $3 fee for outgoing ACH if they originate at BoA. Any ACH initiated from an outside FI is excluded from that fee at BoA, but you are still limited by any rules set by the outside FI

Sylvia | Oct 21, 2021 | 389 posts since 2012

That limit applies only to ACH transfers initiated through B of A. I don't have an account there but I regularly get around limits at other FI's by initiating transfers externally. Of course, you'll have to first get B of A account verified with outside FI (one with higher limits) before making transfer.

Anon456 | Oct 21, 2021 | 249 posts since 2011

Sylvia is correct. I have a account at BAC, and I do NOT originate any ACH there. I can do LARGE ACH from ALLY into BAC ... just not the other way around originating ACH from within BAC

Lastrun | Oct 21, 2021 | 16 posts since 2019

also you can ACH from Merrill Edge if you have an account there and transfer from BofA checking that is another work around

planxy | Sep 18, 2022 | 140 posts since 2013

And Edge seems to have very large limits, plus being much easier to link many outside banks to than trying to link directly from BA. Edge to BA and reverse are treated as internal real-time transfers of funds, you don't have to ACH.

sjg | Oct 22, 2021 | 9 posts since 2019

Thanks Anon456. It's not clear to me. Have you had success with large ach pulls from BofA initiated from Ally?

Anon456 | Oct 22, 2021 | 249 posts since 2011

both from BAC and to BAC as long as you start the ACH at ALLY

sjg | Oct 23, 2021 | 9 posts since 2019

Thanks Anon for the clarification

MoneyMoves | Oct 22, 2021 | 149 posts since 2019

$1,000 daily limit IS LIFTED when you enroll in a Safe Pass — a program that sends a code to your phone to verify that it is indeed you that is making the transaction. Then your new limit $3,000 per day or $6,000 per month for standard delivery and $2,000 per day or $5,000 per month for next-business day delivery. ACH fee $3 for standard time delivery and $10 for next-business day delivery

sjg | Oct 23, 2021 | 9 posts since 2019

Thanks. My ACH pull is above the 3k limit

sjg | Nov 6, 2021 | 9 posts since 2019

Yes, Sylvia. I completed the ACH transfer, which was above the B of A limit, initiated from an external FI. I should add that B of A customer service advised me that this would not be possible. Moreover, I received an email warning me that the transfer request was over the limit I had fixed.

Sylvia | Nov 8, 2021 | 389 posts since 2012

Glad to hear of your success, sjg. ACH transfer limits are often a point of confusion for CSRs. I've never had an FI (in your case, B of A) send me a warning email about a transfer initiated from outside. Maybe that was B of A's attempt at a heads up, in case you had not authorized the withdrawal?

Ally6770 | Oct 29, 2021 | 4,304 posts since 2010

I had a problem with a very large CD that matured this month. They said they could not ACH that amount. I would not pay for a wire, so I opened a checking account before the CD was due and they deposited the money in the checking account. I wrote a check the day the C D matured and deposited it and it was in my account the same day it matured.

Rickny | Mar 28, 2022 | 1,296 posts since 2017

ally Good workaround.

senda | Sep 18, 2022 | 126 posts since 2015

$1000 is NOT the limit if the ACH is pulled from another FI. A relative has BofA (I would never bank with them) and takes out $1400/mo but the ACH originates from the place where the money is going to, not set up thru BofA.

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