Paze is Bank of America's real-time payment network for moving money between accounts at different banks

Paze is a real-time payment system that Bank of America launched in 2024 as part of a broader industry shift away from the older ACH (Automated Clearing House) network. When you send money through Paze, it moves from one bank account to another in seconds or minutes, not the one to three business days that ACH transfers typically take. Bank of America built Paze alongside other major banks—Wells Fargo, JPMorgan Chase, and US Bancorp among them—to create a faster alternative to traditional bank-to-bank transfers.

The key difference between Paze and what you may be used to is speed and the way the money is routed. With an ACH transfer, your bank batches your payment with thousands of others and sends them through a central clearing system overnight. With Paze, the transfer happens in real time: your bank connects directly to the receiving bank, confirms the account exists, and moves the funds when ready. This matters most when you need money to arrive the same day or when you want to avoid the uncertainty of multi-day processing windows.

Key Takeaways

  • Paze transfers settle in seconds to minutes, while ACH transfers take one to three business days.
  • Bank of America customers can send and receive Paze payments through their online banking portal or mobile app without paying an extra fee.
  • Paze works only between banks that have joined the network; not all banks support it yet, so you may still need ACH for some transfers.
  • The receiving account must be verified before the transfer goes through, which adds a security step but prevents sending money to the wrong account.

How Paze transfers work step by step

When you initiate a Paze transfer from your Bank of America account, the system first checks whether the receiving bank is part of the Paze network. If it is, you enter the recipient's bank account number and routing number. Bank of America then sends a verification request to the receiving bank to confirm that the account exists and that the account holder's name matches what you entered.

Once the account is verified, the money moves when ready. The receiving bank credits the account in real time, and you see the transaction posted in your Bank of America account right away. There is no queue, no overnight batch processing, and no "pending" status that lasts for days. If something goes wrong—the account number is wrong, the receiving bank rejects the transfer—you find out within minutes, not after waiting three days to discover the money went nowhere.

This verification step is deliberate. It prevents a common ACH problem: sending money to the wrong account and having it disappear into someone else's bank. With Paze, the receiving bank confirms the account is real and active before the transfer completes, so you know the money reached the right place.

Which banks accept Paze transfers from Bank of America

Paze is still rolling out, so not every bank in the United States accepts it yet. The founding members—Bank of America, Wells Fargo, JPMorgan Chase, and US Bancorp—all support Paze transfers. Other large banks have joined since the launch, including Capital One, Charles Schwab, and Truist. Smaller regional banks and credit unions are joining gradually, but coverage is not yet universal.

Before you attempt a Paze transfer, check whether the receiving bank is on the Paze network. Bank of America's mobile app and online banking portal will tell you whether Paze is available for a given bank when you enter the routing number. If the receiving bank is not yet part of Paze, your transfer will fall back to ACH, and you will see the standard one- to three-day timeline.

Paze versus ACH: when to use each one

Use Paze when you need money to arrive the same day and both banks support it. Common situations include paying a contractor before they start work, sending an urgent payment to a vendor, or moving money between your own accounts at different banks when timing matters. Paze is also useful when you want confirmation that the money reached the right account when ready, rather than discovering three days later that you sent it to the wrong place.

Use ACH when the receiving bank does not yet support Paze, when you are not in a hurry, or when you are sending money to a business that only accepts ACH. ACH is also the standard for recurring payments like bill pay and payroll, and many businesses have not yet updated their systems to handle Paze. Bank of America will continue to support ACH alongside Paze for the foreseeable future, so you are not forced to switch.

Fees and limits for Paze transfers

Bank of America does not charge a separate fee for Paze transfers to other Bank of America customers or to customers at other banks that support Paze. The transfer is included in your standard checking or savings account, the same way ACH transfers are. If your account normally has a monthly fee, Paze transfers do not add to it.

Bank of America does not publicly state a per-transfer limit for Paze, but your account's overall daily transfer limit still applies. If your account is set to allow a maximum of $10,000 in outgoing transfers per day, that limit covers both Paze and ACH transfers combined. You can contact Bank of America to request a higher limit if you regularly move larger amounts.

Security and fraud protection with Paze

Paze includes built-in verification that reduces certain fraud risks. Because the receiving bank confirms the account exists before the transfer completes, you cannot accidentally send money to a closed account or a number that does not belong to anyone. This prevents a category of fraud where scammers give you a fake account number and the money disappears.

However, Paze does not protect you from sending money to the wrong person intentionally or from social engineering. If a scammer convinces you that they are your landlord and you send them money via Paze to their real account, the transfer is final and the money is gone. Paze is faster than ACH, which means there is less time to catch a mistake before the money leaves your account. Treat Paze transfers with the same caution you would use for any when ready payment method.

What happens if a Paze transfer fails or goes to the wrong account

If the receiving bank rejects the transfer—because the account number is invalid, the account is closed, or the name does not match—you will see the rejection within minutes. The money stays in your Bank of America account, and you can correct the information and try again. This is one of Paze's advantages over ACH: you know when ready whether the transfer worked.

If you send money to the correct account number but the wrong person, Paze does not reverse the transfer automatically. You would need to contact the receiving bank and ask them to help you recover the money, the same way you would with ACH. This is why the verification step matters: it confirms the account is real and active, but it does not confirm that you know the person who owns it.

Frequently Asked Questions

Can I use Paze to send money internationally?

No. Paze is a domestic real-time payment network and works only for transfers between U.S. bank accounts. For international transfers, you will need to use Bank of America's wire transfer service or international ACH, both of which take longer and may have higher fees.

Do I need to do anything special to use Paze, or is it automatic?

Paze is automatic if both banks support it. When you initiate a transfer through Bank of America's online banking or mobile app, the system checks whether the receiving bank is on the Paze network. If it is, Paze is used. If not, the transfer falls back to ACH. You do not need to select Paze manually or sign up for it separately.

What if I send a Paze transfer and then change my mind?

Once a Paze transfer completes, it cannot be reversed by Bank of America. The money is in the receiving account when ready, and the receiving bank controls whether to return it. Contact Bank of America right away if you need to stop a transfer, but understand that if it has already settled, you will need to ask the recipient to send the money back.

Is Paze safer than ACH?

Paze includes account verification that ACH does not, which prevents some types of fraud. However, Paze is not inherently safer against social engineering or sending money to the wrong person intentionally. The main safety difference is speed: Paze settles when ready, so there is less time to catch a mistake before the money leaves your account.

Can I receive Paze transfers if my bank is not Bank of America?

Yes, if your bank is part of the Paze network. You do not need to do anything special to receive a Paze transfer; it works the same way as receiving an ACH transfer. The sending bank initiates it, and your bank credits your account in real time if both banks support Paze.