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Can I Waive my Fee from BofA Checking with a Money Tranfer?

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Re: Can I Waive my Fee from BofA Checking with a Money Tranfer?


@Remedios wrote:

I have an old, grandfathered account with Chase from WaMu days for which it works.  

It does not work for newer one, unless something changed in the last year or two. 

I think the list went something like payroll, government benefits, retirement etc 

 

 


This is correct. OP, there may be one more way to waive if you have savings account with them. If you do a monthly preauthorized transfer from checking to savings. They will waive with most banks. I do $50 with Chase to avoid it.

Message 11 of 17
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Re: Can I Waive my Fee from BofA Checking with a Money Tranfer?


@TyRacing wrote:

@FinStar wrote:

@TyRacing wrote:

@OmarR wrote:

 

My Chase Checking monthly fee is waived with a ACH of $500.

 

But to be fair, its not a Chase Total Checking (or whatever they offer today). It's called simply Chase Checking from 2010 that they do not offer anymore. I just assumed an ACH transfer worked for all of Chase's accounts.

 

OP, try it with BofA for a month and see if it works. 


How would i setup a ACH transfer from chase to bofa? is a standard money transfer different from a ACH transfer?


You can set up BoA as an external account through your Chase online profile: Pay & transfer > Transfer Money > External Accounts > Add external account.  You would then need to confirm some small deposits on the BoA side within 3-5 business days so the external account can be verified.


thanks but Would that setup be for a ACH transfer?


I'm not sure it would code the [Chase] transfer in such a way to waive the monthly fee.  Here's an example of how it's coded on the BoA side from Chase vs NAVY FCU as external (non-Zelle) transfers:

 

JPMorgan Chase DES:Ext Trnsfr ID:XXXXX INDN:XXXXX

Type: Deposit
Description: JPMorgan Chase DES:Ext Trnsfr ID:XXXXX INDN:XXXXX CO ID:XXXXX PPD
Merchant name: JP MORGAN CHASE
Transaction category: Income: Deposits

 

NFCU ACH DES: P2P ID:XXXXX

Type: Deposit
Description: NFCU ACH DES: P2P ID:XXXXX INDN:XXXXXX CO ID:XXXXX WEB
Merchant name: NAVY FEDERAL CREDIT UNION
Transaction category: Income: Deposits

Message 12 of 17
Valued Member

Re: Can I Waive my Fee from BofA Checking with a Money Tranfer?

Just use venmo to send money to your family member. I avoid Chase & BOA checking fees by sending and receiving $500 from my spouse. 

Message 13 of 17
Regular Contributor

Re: Can I Waive my Fee from BofA Checking with a Money Tranfer?


@itduzz wrote:

Just use venmo to send money to your family member. I avoid Chase & BOA checking fees by sending and receiving $500 from my spouse. 


so using venmo you send money to your Boa Checking to avoid the monthy fee?

 

thanks for sharing 

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Message 14 of 17
Valued Member

Re: Can I Waive my Fee from BofA Checking with a Money Tranfer?


@TyRacing wrote:

@itduzz wrote:

Just use venmo to send money to your family member. I avoid Chase & BOA checking fees by sending and receiving $500 from my spouse. 


so using venmo you send money to your Boa Checking to avoid the monthy fee?

 

thanks for sharing 


Yes. You can also use paypal which I use to use to avoid monthly fees but my paypal was banned for a different reason. Now I use venmo to avoid all checking account fees.

Message 15 of 17
Established Member

Re: Can I Waive my Fee from BofA Checking with a Money Tranfer?

For what it's worth, a few years ago, someone who isn't me would deposit into PayPal from a Chase Bank account, then withdraw from PayPal to BofA Checking Account. This typically would waive the monthly service charge.

Smiley Wink

 

P.S. This is my first post. Long time reader, but decided to make an account to respond to this thread. Best of luck!


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Message 16 of 17
Regular Contributor

Re: Can I Waive my Fee from BofA Checking with a Money Tranfer?


@brandonm wrote:

For what it's worth, a few years ago, someone who isn't me would deposit into PayPal from a Chase Bank account, then withdraw from PayPal to BofA Checking Account. This typically would waive the monthly service charge.

Smiley Wink

 

P.S. This is my first post. Long time reader, but decided to make an account to respond to this thread. Best of luck!


wow! Thank you for all your support. May God bless you with more Wealth, Health, Love, and Joy. Smiley Happy 

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Message 17 of 17
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