How to Make an ACH Payment Through Bank of America

Quick answer

• Log in to your Bank of America online banking account.
• Navigate to the “Payments” or “Transfers” section.
• Select “Make a Payment” or “Send Money.”
• Choose to add a new recipient or select an existing one.
• Enter the recipient’s account and routing numbers, or select a bill payee.
• Specify the payment amount and date.
• Review and confirm the transaction details before submitting.
• You’ll receive a confirmation number for your records.

Who this is for

• Bank of America customers who need to send money electronically to another bank account.
• Individuals looking for a secure and convenient way to pay bills or transfer funds to friends and family.
• Anyone who prefers online banking over writing checks or visiting a branch for payments.

What to check first (before you act)

Goal and timeline

Before initiating an ACH payment, clearly define why you’re sending money and by when it needs to arrive. Is it a one-time payment for a large purchase, or a recurring bill? Knowing your timeline helps you select the appropriate payment speed and avoid late fees. For instance, a crucial bill payment might require you to schedule the ACH transfer a few business days in advance to ensure it clears on time.

Current cash flow

Understand your current financial situation to ensure you have sufficient funds available to cover the ACH payment. Review your checking account balance and any upcoming scheduled debits or credits. Overdrafting can lead to significant fees, so it’s crucial to have a clear picture of your immediate cash flow.

Emergency fund or safety buffer

Confirm that making this ACH payment won’t deplete your emergency fund. An emergency fund is vital for unexpected expenses like medical bills or job loss. If the payment would leave you without adequate funds for emergencies, consider delaying it if possible or making a partial payment.

Debt and interest rates

If the ACH payment is to pay down debt, understand the associated interest rates. Prioritizing high-interest debt repayment can save you money in the long run. Compare the interest rate of the debt you’re paying with the potential returns from keeping that money in a savings account or investment.

Credit impact

Consider how the ACH payment might affect your credit if it’s related to loan or credit card payments. Making timely payments through ACH is generally positive for your credit score. However, if you’re struggling to make payments, explore options with your creditors before initiating an ACH that might bounce due to insufficient funds, which can negatively impact your credit.

Step-by-step (simple workflow)

Step 1: Log in to Bank of America Online Banking

What to do: Access your Bank of America account through their website or mobile app. Enter your username and password. You may need to complete multi-factor authentication.
What “good” looks like: You are securely logged into your account dashboard and can see your account balances.
A common mistake and how to avoid it: Using a public Wi-Fi network for sensitive transactions. Always use a secure, private network to protect your login credentials.

Step 2: Navigate to the Payments or Transfers Section

What to do: Look for a menu option labeled “Payments,” “Transfers,” “Send Money,” or similar. This is typically found in the main navigation bar or a drop-down menu.
What “good” looks like: You are on a page with options for managing payments, adding payees, or initiating transfers.
A common mistake and how to avoid it: Clicking on suspicious links or ads that mimic banking sites. Always ensure you are on the official Bank of America website or app by checking the URL.

Step 3: Select “Make a Payment” or “Send Money”

What to do: Choose the option that best describes your action. If paying a bill, “Make a Payment” is common. If sending money to an individual, “Send Money” or “Transfer” might be used.
What “good” looks like: You are presented with options to choose a recipient, enter payment details, or select an existing payee.
A common mistake and how to avoid it: Mistaking a one-time transfer for a recurring payment setup. Carefully read the labels and descriptions of each option.

Step 4: Add or Select a Recipient

What to do:

• For Bill Pay: Search for the company or service you want to pay. If it’s not listed, you may need to add it manually by providing the company’s name and address.
• For Person-to-Person (P2P) Transfers: You’ll typically use Zelle through Bank of America. You’ll need the recipient’s email address or U.S. mobile number.
• For Direct ACH Transfers to another Bank: You will need the recipient’s bank name, account number, and routing number. This option might be less common for everyday users within the BoA interface and may require a specific “external transfer” or “ACH setup” process.

What “good” looks like: The recipient’s information is correctly entered or selected, and you are ready to proceed with payment details.
A common mistake and how to avoid it: Entering incorrect account or routing numbers for external transfers, or an incorrect email/phone for P2P. Double-check all digits and characters.

Step 5: Enter Payment Amount and Date

What to do: Input the exact dollar amount you wish to send. Select the date you want the payment to be sent or to be delivered by. Bank of America will indicate processing times.
What “good” looks like: The amount is accurate, and the date selected allows for sufficient processing time, especially for bill payments.
A common mistake and how to avoid it: Entering the wrong amount or selecting a date too close to the due date. Always verify the amount and allow extra days for processing to avoid late fees.

Step 6: Choose Funding Account

What to do: Select the Bank of America checking or savings account from which the funds will be drawn.
What “good” looks like: The correct account is selected, and you have confirmed sufficient funds are available in that account.
A common mistake and how to avoid it: Choosing the wrong account, especially if you have multiple accounts. Verify the last few digits of the account number.

Step 7: Review Payment Details

What to do: Carefully examine all the information you’ve entered: recipient’s name/account, amount, payment date, and funding account.
What “good” looks like: All details are accurate and match your intentions.
A common mistake and how to avoid it: Rushing through the review process. Take your time to ensure everything is correct before confirming.

Step 8: Confirm and Submit

What to do: Once you are confident all details are accurate, click the “Submit,” “Confirm,” or “Send Payment” button.
What “good” looks like: You receive an on-screen confirmation message with a confirmation number.
A common mistake and how to avoid it: Not saving or noting the confirmation number. This number is your proof of transaction.

Step 9: Check Confirmation and Transaction History

What to do: Note down or screenshot the confirmation number. You can also typically view pending and completed transactions in your account’s “Activity” or “Transaction History” section.
What “good” looks like: You have a record of the transaction and can see it reflected (or pending) in your account history.
A common mistake and how to avoid it: Assuming the payment is complete without confirmation. Always verify that the transaction appears in your history.

Common mistakes (and what happens if you ignore them)

| Mistake | What it causes