What Paze Is and How Bank of America Uses It

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

Paze is a system that lets you send money when ready to someone else's bank account, even if they bank somewhere other than Bank of America. Bank of America launched Paze in 2024 as part of a broader shift toward faster payment methods. Instead of waiting one to three business days for a wire transfer or ACH payment to land, Paze moves money in seconds.

Paze works through the Federal Reserve's FedNow Service, which is the infrastructure that makes real-time payments possible across U.S. banks. Bank of America customers can initiate a Paze transfer through their mobile app or online banking, and the recipient's bank account receives the funds almost when ready — usually within seconds to a few minutes.

The system is designed for everyday payments: splitting rent with a roommate, paying a friend back for dinner, or sending money to family. It is not the same as Zelle, which is a separate peer-to-peer payment service that Bank of America also offers.

Key Takeaways

• Paze transfers money in real time between accounts at different banks, rather than taking one to three business days like traditional ACH transfers.
• Bank of America customers can send Paze payments through their mobile app or online banking to anyone with a bank account at a participating bank.
• Paze is built on the Federal Reserve's FedNow Service, which is a new infrastructure for when ready payments across the U.S. banking system.
• Bank of America also offers Zelle for peer-to-peer payments, which is a separate service with different features and participating banks.

How to send money through Paze on Bank of America

To send a Paze payment, log into your Bank of America mobile app or online banking. Look for the payments or transfers section — the exact location varies depending on whether you are using the app or website. Select the option to send money to another person or external account.

Enter the recipient's bank account number and routing number, or their email address or phone number if their bank supports Paze lookup. Bank of America will confirm the recipient's name and account details before you complete the transfer. Review the amount, confirm the recipient information, and authorize the payment. The money typically arrives within seconds.

Paze transfers are available 24 hours a day, seven days a week, including weekends and holidays. There are no cutoff times like there are with traditional ACH transfers, which stop processing at certain times each day.

Which banks work with Paze right now

Paze is still rolling out across the U.S. banking system. Bank of America was one of the first major banks to offer it, but not every bank has joined yet. The number of participating banks grows regularly as more institutions connect to the FedNow Service.

To find out whether the recipient's bank supports Paze, you can check the FedNow Service directory on the Federal Reserve's website, or you can straightforward try to send a Paze payment and Bank of America will tell you whether the receiving bank participates. If the recipient's bank does not support Paze yet, Bank of America will offer you an alternative payment method, such as a standard ACH transfer.

If you are sending money to someone at a bank that does not yet support Paze, you can still use Bank of America's other payment options: Zelle for peer-to-peer transfers, wire transfers for larger amounts, or standard ACH transfers for non-urgent payments.

Paze versus Zelle: what is the difference

Both Paze and Zelle move money between people at different banks, but they work through different networks and have different features. Zelle is older and more widely available — most major U.S. banks support it. Paze is newer and uses the Federal Reserve's real-time payment infrastructure.

The main practical difference is speed and availability. Zelle transfers typically arrive within minutes, though sometimes take longer depending on the banks involved. Paze transfers arrive in seconds to a few minutes and work 24/7, including weekends and holidays. Zelle has limited availability on nights and weekends at some banks.

Both services are free for basic personal transfers. Both require you to know the recipient's account details or have their contact information on file. If you are already using Zelle successfully, there is no urgent reason to switch to Paze — but Paze may be faster and more reliable for time-sensitive payments once more banks join the network.

Fees and limits for Paze transfers

Bank of America does not charge a fee for sending or receiving Paze payments on personal accounts. The transfer itself is free, and there is no monthly charge for using the service.

Bank of America does set limits on how much you can transfer in a single Paze payment and how much you can send in a day. These limits vary depending on your account type and history with the bank. You can view your specific limits in your online banking settings or by calling Bank of America customer service.

The recipient's bank may also have its own limits on how much money can be received in a single transfer or within a day. If you try to send more than the limit allows, Bank of America will let you know and you can split the payment into multiple transfers or use a different payment method.

Security and fraud protection with Paze

Paze transfers are protected by the same fraud monitoring and security measures that Bank of America uses for other account transfers. Bank of America monitors for suspicious activity and can block transfers that look unusual based on your account history.

Once a Paze payment is sent and received, it cannot be reversed or recalled like some other payment methods. This means you should double-check the recipient's account details before you send the money. If you send money to the wrong account by mistake, you will need to contact the recipient's bank and ask them to return the funds — Bank of America cannot force a reversal.

To protect yourself, verify the recipient's name and account number before sending. Use Bank of America's name confirmation feature when available, which shows you the name associated with the receiving account. Never send money to someone you do not know or trust, and be cautious of requests for urgent payments.

What happens if Paze is not available to the recipient

If the person you want to send money to banks at an institution that does not yet support Paze, Bank of America will show you that option is not available when you try to send the payment. You will then have other options to choose from.

You can send a standard ACH transfer, which is free but takes one to three business days. You can use Zelle if the recipient's bank supports it, which is usually faster than ACH. You can send a wire transfer if you need the money to arrive the same day, though wire transfers typically cost a fee. You can also ask the recipient what payment methods they prefer and what their bank supports.

As more banks join the FedNow network, Paze will become available to more people. Check back periodically if a recipient's bank does not support it yet — they may add Paze support in the future.

Frequently Asked Questions

Can I send a Paze payment on nights and weekends?

Yes. Paze operates 24 hours a day, seven days a week, including holidays. Unlike traditional ACH transfers, which stop processing at certain times each day, Paze payments go through when ready at any time. The recipient's bank will receive the money when ready, though some banks may not display it in the recipient's account until their next business day processing cycle.

What if I send money to the wrong account by mistake?

Paze transfers cannot be reversed once they are sent and received. You will need to contact the recipient's bank directly and ask them to return the funds. Bank of America cannot force a reversal on its own. This is why it is important to verify the recipient's account details and use name confirmation when available before sending any payment.

Is Paze the same as the Federal Reserve's FedNow Service?

Paze is Bank of America's name for its real-time payment service, which runs on top of the Federal Reserve's FedNow Service infrastructure. FedNow is the underlying system that makes when ready payments possible across banks. Other banks may call their real-time payment services by different names, but many use FedNow behind the scenes.

Do I need to set up Paze separately from my Bank of America account?

No. If you have a Bank of America checking or savings account, Paze is already available to you through your existing online banking or mobile app. You do not need to sign up for a separate service or set up anything. straightforward log in and look for the option to send money to another person.