Zelle neither transfers nor moves money. If a Payee on a corporate check fails to negotiate the check within ninety (90) days, we will stop payment on the check and re-credit your account for the amount of the payment. Please see Section 5.F for the cancellation procedures applicable to Remittance Transfers. We don't guarantee the delivery or accuracy of alerts. Please review the information for your state in the Personal Schedule of Fees (at www.bankofamerica.com/feesataglance or at your local Banking Center) and in the Online Banking Service Agreement at www.bankofamerica.com/serviceagreement. If you give your Online ID and passcode and grant authority to make transfers to a person who exceeds the authority given, you are responsible for all transactions that person performs unless you notify us that the transfers by that person are no longer authorized. Wire payments can be made to almost anywhere in the world and in any currency. Bank of America cannot guarantee the timely delivery or return of funds as a result of the failure of another financial institution to act in a timely manner. Bank of America recommends that wire transfer customers sign up for their SafePass feature. . Our liability policy regarding unauthorized Online Banking transactions on consumer deposit accounts may give you more protection, provided you report the transactions promptly. You may also move money within the U.S. without a transfer fee by using Zelle (described in Section 4 above) or Bill Pay (described in Section 3 above). If we become liable to you for interest compensation under this Agreement or applicable law, such interest shall be calculated based on the average federal funds rate at the Federal Reserve Bank in the district where Bank of America is headquartered for each day interest is due, computed on the basis of a 360-day year. You agree that we may, Zelle may or our agents may use automatic telephone dialing systems in connection with text messages sent to any mobile phone number you enroll. Transfers to new recipients will have lower limits : Bank of America¹⁰ : Individuals - 24h limit $3,500, maximum 10 transfers; 7-day limit $10,000, maximum 30 transfers30-day limit $20,000, maximum 60 transfers ⁹; Small businesses - 24h limit $15,000, maximum 20 transfers Payments entered after this cut-off will be scheduled and processed on the next calendar day. Prior to sending a Remittance Transfer, we will provide you with certain important disclosures including, if applicable: (i) the amount that will be transferred to the recipient, (ii) a description of any fees or taxes we impose, (iii) the total amount of the transaction (which is the sum of (i) and (ii) above,) and (iv) the exchange rate we will use in the event you tell us that the receiving account is denominated in a foreign currency and you identify such currency . If you opt out, though, you may still receive generic advertising. Transfers require enrollment in the service and must be made from an eligible Bank of America consumer or business deposit account to a domestic bank account or consumer debit card. Please note that some of the Services may not be available when using certain digital devices or applications. Sometimes you can pay using other methods. B. When you send an international transfer to another person’s bank account, their bank may charge a fee for receiving the transfer. We may determine a currency exchange rate and assign it to your transaction without notice to you. Payments can be scheduled from a checking, money market savings or other consumer asset account maintained at another financial institution that you have added to Bill Pay. At your option, we may offer you the opportunity to add Payees from our service provider’s network or, with your consent, to access your credit report to help you identify Payees which you would like to add to this service. You may not turn off Automatic Alerts. Tell us at once if you believe your Online Banking passcode has been compromised or if someone has transferred or may transfer money from your account without your permission. FURTHER, WE SHALL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR FAILURE TO EXECUTE ANY TRANSFER OR PERFORM A RELATED ACT IF SUCH FAILURE IS DUE TO CAUSES OR CONDITIONS BEYOND OUR REASONABLE CONTROL, INCLUDING WITHOUT LIMITATION, STRIKES, RIOTS, INSURRECTION, WAR, MILITARY OR NATIONAL EMERGENCIES, ACTS OF GOD, NATURAL DISASTERS. You are responsible for any fees or other charges that your wireless carrier may charge for any related data, text or other message services, including without limitation for short message service. Bill Discovery Service. If you are a small business customer and are not receiving the small business limits, make sure you are signed in with your small business Online ID. The best way to minimize your loss is to call us immediately. If you tell us verbally, we may require you to send us your complaint or question in writing or via email within ten (10) business days (Online Banking customers may use secure online mail). You may send money to another User at your initiation or in response to that User’s request for money. Neither we nor Zelle assume responsibility for the accuracy or legality of such requests and do not act as a debt collector on your behalf or on behalf of the sender of a request for money. Each of those banks is entitled to take a fee from the transfer amount. For small business customers, if you transfer funds in U.S. dollars to a non-U.S. dollar account, your payment may be converted into the local currency by any originating, intermediary or receiving bank, payment system or payment service provider, including Bank of America or an affiliate, as applicable. Many major banks impose a per-day or per-transaction wire transfer limit. Some online money transfer services have policies in place that require them to report far smaller transactions — sometimes anything over $1,000.³ And the Bank Secrecy Act allows the IRS and the Department of Justice to investigate any time they suspect illegal activity with a transfer.³, As far as your own reporting goes, you’re required by law to report to the IRS any overseas bank accounts or assets. You are also responsible for the content of the memos you send using Zelle. Payments can be entered as a one-time transaction up to a year in advance, or as payments that are automatically scheduled upon the receipt of an e-Bill. This can be inconvenient, which might result in you leaning toward an alternative transfer service like TransferWise that allows you to handle everything online. In this case, we will provisionally credit your account within 10 business days for the amount you think is in error, so that you have the use of the money during the time it takes us to complete our investigation. For businesses who use the additional services described in the Business Services Addendum, this section applies to all Online Banking passcodes, including those assigned to users or Administrators. By accepting this Agreement, you agree that you are not engaging in the business of debt collection by attempting to use the Service to request money for the payment or collection of an overdue or delinquent debt; to request money that is owed to another person; or to collect any amounts that are owed pursuant to a court order. Your name and address or telephone number; 2. You can opt out of this alert any time by texting STOP to 85594. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. TransferWise allows you to log into your online banking and deduct directly from your account to pay for transfers. If we need more time, however, we may take up to 45 days to investigate your complaint or question. You agree to be bound by instructions, whether authorized or unauthorized, which we implement in compliance with these procedures, unless you have given us prior notice of possible unauthorized use of your passcode and we had a reasonable opportunity to act on such notice. THE SERVICE IS INTENDED FOR SENDING MONEY TO FAMILY, FRIENDS AND OTHERS WHOM YOU TRUST. You’ve come to the right place. You may use the Service to transfer funds between your linked Bank of America accounts without a fee on either a one-time or recurring basis, including as a payment to a linked installment loan, credit card or mortgage. This process may impact when fees apply to your account. You may request money from another User. As part of Online Banking enrollment, you consented to the Online Banking Electronic Communications Disclosure (“eCommunications Disclosure”) which allows us to provide you with account-related communications electronically. The best way to cancel a transfer is to sign in to your account at www.bankofamerica.com and select Transfers>Send Money To Someone>Using their account number at another bank to access the right transfers activity tab. If you notify us that the person is no longer authorized, then only transactions that person performs after the time you notify us are considered unauthorized. Information from these sources may make it easier for you to make payments or add relevant e-bills to your Service. Future-dated or recurring payments can be canceled prior to 5 p.m. ET cut-off. This means that most people can transfer … When an account is linked to the Services, it does not change the agreements you already have with us or our affiliates for that account and you are still subject to the terms and conditions we gave you in the agreement and disclosure for the linked account. FOR PURPOSES OF THIS AGREEMENT, “VENDOR(S)” MEANS ANY THIRD-PARTY SERVICE PROVIDER, NETWORK OR PARTNER FINANCIAL INSTITUTION WE MAY ENGAGE TO PERFORM FUNCTIONS FOR US UNDER THIS AGREEMENT. NEITHER WE NOR OUR VENDORS, INCLUDING OUR OR THEIR OWNERS, DIRECTORS, OFFICERS OR AGENTS, WARRANT THAT THE WEB SITE, OR THE SERVER THAT MAKES THEM AVAILABLE, IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. For payments to a Bank of America Payee, such as a vehicle loan, HELOC or mortgage, Bank of America will process and credit the payment to the account effective the same business day, provided the payment is scheduled prior to the 5:00 p.m. Oftentimes this is just deducted from the transfer amount when the funds are added to the recipient’s account. For help with SMS text alerts, send the word HELP to 692632. A one-time transfer cannot be cancelled after it has been submitted. But, ACH transfer limits are currently set to $3,000 per day or $6,000 per month for standard … Text message fees may apply depending on your mobile carrier plan. Same-Business-Day Wire transfers are not available for inbound transfers. A wire transfer is a method of transmitting money electronically between people or businesses in which no physical money is exchanged. If we conclude there was no error, we will send you a written explanation. Payments can be entered as a one-time transaction up to a year in advance, recurring transactions or as payments that are automatically scheduled upon the receipt of an electronic bill (e-Bill). The thing is i don’t need very high limits. Learn all about international and domestic wire transfers with PNC Bank. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. You are responsible for providing us with a valid e-mail address to accept delivery of electronic communications and you must notify us of any changes or updates to your email address. When you do, please tell us: 1. Using Inter-Institution Transfers from Citibank is easy. You certify that any account you add to Bill Pay is an account from which you are authorized to make payments, and any payment you make using Bill Pay will debit an account that you are legally authorized to use. Once you confirm your acceptance of the Remittance Transfer terms, you will be shown a receipt which includes the items listed above and, in addition, (i) the date the funds will be available to the recipient, (ii) information you provide that identifies the recipient, and (iii) a statement of your rights in the event of an error or if you wish to cancel the transfer, as described below. While you can make large transfers depending on your bank’s policy, the bank must report wire transfers over $3,000 and any transaction over $10,000. This way you don't need to wait 7-10 business days for a physical card to arrive in the mail after you certify for your first payment if you just want to transfer funds to your bank … If we need to, we’ll change or reformat your Payee account number to match the account number or format required by your Payee for electronic payment processing and eBill activation. Transfers require enrollment in the service and must be made from an eligible Bank of America consumer or business deposit account to a domestic bank account or consumer debit card. In general, it depends on the type of account you have. You agree that we are not liable for any delays, failure to deliver, or misdirected delivery of any alert; for any errors in the content of an alert or for any actions taken or not taken by you or a third party as the result of an alert. Citi imposes various amounts depending on the type of account, but it ranges between $1,000 and $10,000 online. All money will be transmitted by a Network Bank. There may be other circumstances when the payment may take longer. Since we can't predict the exact date that a personal check will be presented to us for payment, please make sure you have sufficient funds in your account beginning a few days before your scheduled delivery date and keep such funds available until the payment is deducted from your account. If we fail or delay in making a payment or transfer pursuant to your instructions, or if we make a payment or transfer in an erroneous amount that is less than the amount per your instructions, unless otherwise required by law, our liability shall be limited to interest on the amount that we failed to timely pay or transfer, calculated from the date on which the payment or transfer was to be made until the date it was actually made or you canceled the instructions. If you are a small business customer and are not receiving the small business limits, make sure you are signed in with your small business Online ID. We and/or an affiliate include a mark-up or fee on such currency conversion and may profit in connection with any such currency conversion. SafePass is an extra layer of security that is required in Online and Mobile Banking to increase limits for certain transfer types. With respect to payment orders relating to the transfer which are executed through Fedwire, Federal Reserve Regulation J and all applicable Federal Reserve operating rules shall govern the payment orders. to footnote reference 2 This fee … You may also write us at: For the Services, our business days are Monday through Friday, excluding bank holidays. Bank of America supports transfers to 200+ countries in more than 140 currencies. What to do if you want to cancel a Remittance Transfer: You have the right to cancel a Remittance Transfer and obtain a refund of all funds paid to us, including any fees, within 30 minutes of your confirmation of the transfer. The error or problem with the transfer, and why you believe it is an error or problem; 3. We do not accept any liability for our exchange rates. Automatic Alerts provide you with important account notifications, such as information about a money transfer, insufficient funds or availability of a paperless statement. ET cut-off. We make security and the protection of your information a top priority. We reserve the right to restrict categories of Payees to whom payments may be made using the Service. If we make a payment or transfer in an erroneous amount that exceeds the amount per your instructions, or if we permit an unauthorized payment or transfer after we have had a reasonable time to act on a notice from you of possible unauthorized use as described above, unless otherwise required by law, our liability will be limited to a refund of the amount erroneously paid or transferred, plus interest thereon from the date of the payment or transfer to the date of the refund, but in no event to exceed 60 days' interest. Higher limits may also apply for Bank of America Private Bank, Merrill or small business accounts. In Case of Errors or Questions About Your Electronic Transactions, B. We will determine whether an error occurred within 10 business days after we hear from you, and we will promptly correct any error we have made. Neither we nor Zelle shall be liable for any typos or keystroke errors that you may make when using the Service. However, with respect to Remittance Transfers, to the extent of any inconsistencies between the above referenced rules and the provisions of the Electronic Funds Transfer Act ("EFTA"), the provisions of EFTA shall prevail. A Bank of America wire transfer sent domestically, generally arrives at the recipient’s bank within 1-2 business days. 2/ For Direct Payments Service, see the Business Services Addendum for details on fees and limits. Or how to make one? Limitation of Liability for Online Banking Transactions, C. Our Liability for Failure to Complete Transactions, D. Our Liability for ACH and Wire Transfers, B. THE SERVICE IS INTENDED TO SEND MONEY TO FRIENDS, FAMILY AND OTHERS YOU TRUST. Many online money transfer services give you the option of paying with cash or a credit or debit card, though those options sometimes come with extra fees. Under the terms of this Agreement, you may use the Services to obtain financial products and services, access and view account information, and, for certain accounts, move money electronically and perform authorized transactions, for eligible U.S.-based Bank of America consumer and small business accounts and affiliate accounts linked to the Service, such as those at Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill"). These Currency Transaction Reports … We usually notify you when we cancel alerts, but are not obligated to do so. Unless indicated otherwise by the context, "linked Bank of America accounts" or "linked accounts" refers to all of your accounts with Bank of America and its affiliates that are linked to the Service. 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