This is a service update email from Bank of America explaining changes to how wire transfers and ACH (external bank transfers) will work in their Mobile and Online Banking system starting in July.
Here’s the simple breakdown:
What is changing (temporary limitations)
During the upgrade period:
-
❌ You cannot set up recurring wire or ACH transfers
(no repeating monthly/weekly transfers) -
❌ You cannot schedule future-dated transfers
(everything must be sent “now” / same-day only) - ⚠️ You can still do one-time transfers, but they must be immediate
So basically: fewer scheduling features temporarily.
What will still work
- ✔ One-time wire transfers
- ✔ One-time ACH transfers to other banks
- ✔ Sending money to your own external accounts or someone else’s
What they are improving
After the upgrade, they will add:
- ๐ Better transfer tracking (see status after sending money)
- ๐ 18 months of transfer history in the app
- ๐ฑ Easier ACH transfers through Mobile Banking (more user-friendly system)
Recipient list transfer
- People/accounts you’ve paid in the last 24 months will be moved automatically
- If something is missing or incorrect, you’ll need to re-add them manually
Important warning (practical impact)
If you:
- already scheduled recurring transfers, or
- set up future-dated payments before the upgrade,
they may delay or disrupt your transition, so they are warning you ahead of time.
What you should do
If you use this bank for transfers:
- Set up any important recurring payments before the change
- Don’t rely on future scheduling during the transition period
- Double-check your saved recipients after the update
Bottom line
Bank of America is upgrading its transfer system.
For a short period, they’re removing scheduling features, but in return you’ll get better tracking, history, and a more modern transfer system later.
