Is there a free way to transfer money from a Wells Fargo account to a Bank of America account?
I looked into wire transfers, and it turns out that they have a fee associated with them. The only other method I came up with (aside from manually withdrawing/depositing cash from ATMs) was to create a second Venmo account and transfer money to myself that way, though that seems a bit hacky.
The simplest method is just to write a check from one account and deposit it in the other. If you are the owner of both accounts, you should be able to electronically deposit the check using their phone apps. Depending on the amount you are transfering, it may take a few days for the check to clear.
Wells Fargo and Bank of America both belong to the clearXchange bank network (https://www.clearxchange.com/about). You can send money to anyone for free with just their email address or phone number if you both use one of these banks:
(Check the list on the clearXchange website, as the above list may change.)
That means you can easily transfer money from a Wells Fargo account to a Bank of America account using Wells Fargo's "SurePay". To go the other direction, on the Bank of America website click on the "Transfers" tab, then go to Send Money To Someone -> "Using their email address or mobile number".
Here are some ideas:
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