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:
- Bank of America ("Send Money To Someone")
- Capital One ("P2P Payments")
- Chase ("QuickPay℠")
- FirstBank ("Person to Person Transfers")
- U.S. Bank ("Send Money")
- Wells Fargo ("SurePay℠")
(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".