The fastest way is a direct transfer between your accounts

You can move money from Bank of America to SoFi in minutes using an external transfer. Log into your Bank of America account online or through the mobile app, go to the transfer section, and add your SoFi account as an external recipient. You'll need your SoFi account number and routing number (SoFi's routing number is 121000248). Bank of America will verify the account with a small deposit and withdrawal, which usually takes one to two business days. After that, you can transfer money when ready.

The alternative is to initiate the transfer from SoFi's side instead. Log into SoFi, select "Transfer Money," choose "From another bank," and enter your Bank of America account details. SoFi will guide you through the same verification process. Both directions work the same way and take the same time—the difference is just which app you're more comfortable using.

Transfers between banks typically post within one business day once the account is verified, though Bank of America sometimes takes an extra day. Weekend and holiday transfers may take longer. There are no fees on either end for this type of transfer.

Key Takeaways

  • You can transfer from Bank of America to SoFi through either bank's website or app by adding the other account as an external recipient.
  • SoFi's routing number is 121000248, and you will need your SoFi account number to complete the setup.
  • Bank of America verifies new external accounts with a small test deposit and withdrawal, which takes one to two business days before you can transfer larger amounts.
  • Once verified, transfers post within one business day, and there are no fees for moving money between your own accounts at different banks.

Setting up the transfer from Bank of America's side

Open Bank of America online banking or the mobile app and navigate to "Transfers." Select "Transfer to another bank" or "External transfer"—the exact wording varies by app version. Choose "Add external account" and enter your SoFi account number and routing number (121000248). Bank of America will ask for the account holder's name and may ask what the account is used for.

Bank of America will then deposit two small amounts (usually under $1 each) into your SoFi account within one to two business days. You'll see these deposits in your SoFi account. Go back to Bank of America and confirm the exact amounts of both deposits. This verification step proves you control the SoFi account. After confirmation, your SoFi account is linked and you can transfer money when ready.

Setting up the transfer from SoFi's side

Log into SoFi's website or app and select "Transfer Money" or "Move Money." Choose "From another bank" and select "Add a bank account." Enter your Bank of America account number, routing number, and the name on the account. SoFi will ask whether the account is checking or savings.

SoFi uses a different verification method than Bank of America. Instead of test deposits, SoFi may verify your account when ready through Plaid (a third-party service that connects bank accounts) or ask you to log into your Bank of America account directly within the SoFi app to confirm access. If when ready verification doesn't work, SoFi will fall back to the test deposit method, which takes one to two business days. Once verified, you can transfer when ready.

How much you can transfer and how long it takes

Bank of America does not publish a single transfer limit—the amount you can move depends on your account history and the size of your balance. Your first transfer may be limited to a smaller amount (often $500 to $2,500), and the limit typically increases after a few successful transfers. If you need to move a large amount, contact Bank of America to ask about increasing your limit before you transfer.

SoFi also has transfer limits that vary by account. Most SoFi accounts allow transfers up to $10,000 per day and $25,000 per month, though these limits may be higher for established accounts. Check your SoFi account settings or contact SoFi support to confirm your specific limits.

Transfers initiated before 2 p.m. Eastern Time on a business day usually post the next business day. Transfers initiated after 2 p.m., on weekends, or on federal holidays may take an extra day. Neither bank charges a fee for external transfers between your own accounts.

What to do if the transfer fails or gets stuck

If a transfer doesn't go through, the most common reason is a mismatch between the account number or routing number you entered and what's actually on file at SoFi. Double-check both numbers—the routing number 121000248 is correct for SoFi, but verify your account number by logging into SoFi directly. Account numbers are usually shown on your SoFi debit card or in the account settings.

If the numbers are correct but the transfer still fails, the issue may be on Bank of America's side. Some Bank of America accounts have fraud protection settings that block transfers to new external accounts. Log into Bank of America and check whether there's a pending verification or a security alert. You may need to confirm the transfer through a text message or security question.

If you've verified everything and the transfer is still stuck after three business days, contact Bank of America's customer service at 1-800-432-1000 or SoFi's support team through the app. Have your account numbers and the date and time you initiated the transfer ready. They can trace the transfer and tell you whether it's pending, failed, or needs additional verification.

Using a debit card or ACH transfer as an alternative

If you need money in SoFi when ready and the bank-to-bank transfer is taking too long, you can deposit a check from Bank of America into SoFi using mobile check deposit. Take a photo of the front and back of a check written from your Bank of America account, open the SoFi app, select "Deposit a check," and upload the images. SoFi usually credits mobile deposits within one business day.

You can also withdraw cash from a Bank of America ATM and deposit it into SoFi at an ATM that accepts deposits, though this is slower and less convenient. Some SoFi accounts offer ATM access through partner networks, but not all ATMs accept cash deposits.

A third option is to use your Bank of America debit card to make a purchase or transfer at a retailer that offers cash back, then deposit that cash into SoFi. This is not practical for large amounts but works for smaller transfers when you need the money quickly.

Frequently Asked Questions

Do I need to verify my account every time I transfer?

No. Once Bank of America or SoFi verifies your external account with the test deposits or when ready verification, the account stays linked. You can transfer as many times as you want without repeating the verification step, unless you remove the account and add it again later.

What if I enter the wrong account number?

The transfer will fail or go to the wrong account. Bank of America and SoFi both verify the account holder's name before processing, so if the name doesn't match, the transfer will be rejected. If the name matches but the account number is wrong, the money may go to someone else's account. Always double-check the account number before confirming a transfer.

Can I transfer money on weekends or holidays?

You can initiate a transfer on weekends or holidays, but it won't post until the next business day. Banks don't process transfers outside business hours, so a transfer started on Saturday won't move until Monday. If Monday is a federal holiday, it may not post until Tuesday.

Is there a limit to how much I can transfer per day?

Yes. Bank of America and SoFi both set daily and monthly transfer limits, but the exact amounts vary by account type and history. Your first transfer may be limited to $500 to $2,500. Contact either bank to ask about your specific limits or to request an increase before you transfer a large amount.

What happens if I transfer money by mistake?

If you transfer to the wrong account or transfer too much, contact Bank of America or SoFi when ready. They can attempt to recall the transfer if it hasn't posted yet. Once the money reaches the other account, you'll need to contact that bank and ask them to reverse it, which they may or may not do depending on their policies. The faster you act, the better your chances of recovery.