What Paze Is and How Bank of America's Payment Service Works

Paze is Bank of America's real-time payment service that lets you send money to anyone with a U.S. bank account in seconds, without needing their routing number or account number

Paze moves money between bank accounts when ready using only a phone number or email address. You don't have to know the recipient's bank details — you just enter their contact information, the amount, and confirm. The money lands in their account right away, and both of you get a notification that the transfer went through.

Bank of America built Paze as part of a larger network called the RTP network (Real-Time Payments), which connects thousands of banks across the country. When you send money through Paze, you're using that same infrastructure that major banks use to move money between themselves — but now it's available to regular account holders.

Key Takeaways

• Paze transfers money between U.S. bank accounts in seconds using only a phone number or email, not account numbers.
• You access Paze through your Bank of America mobile app or online banking portal under the transfer or payments section.
• Paze works only between banks that are part of the RTP network, so the recipient's bank must participate for the transfer to go through.
• There are no fees to send or receive money through Paze, though your bank may have daily or per-transaction limits.

How to send money using Paze

Open your Bank of America mobile app or log into your online banking account. Look for the Transfers or Payments section — the exact location varies depending on whether you're on mobile or desktop, but it's usually in the main menu or under "Move Money."

Select "Send Money" or "New Transfer" and choose Paze as your method. Enter the recipient's phone number or email address, the amount you want to send, and which of your Bank of America accounts the money should come from. Review the details and confirm the transfer. The money typically arrives within seconds, though in rare cases it can take a few minutes.

Both you and the recipient will receive a notification once the transfer completes. The recipient doesn't need to do anything — the money goes directly into their bank account.

Who can receive Paze payments

The recipient must have a bank account at a U.S. bank that participates in the RTP network. Most major banks are part of it — Bank of America, Chase, Wells Fargo, Citibank, and many regional and community banks all support Paze. However, not every bank has joined yet, so it's possible the person you're trying to send money to banks somewhere that doesn't participate.

If you try to send a Paze payment to someone whose bank isn't on the network, the transfer will fail and your money will stay in your account. Bank of America will let you know the transfer didn't go through. In that case, you can use a different method like Zelle, a wire transfer, or an ACH transfer, depending on what the recipient's bank supports.

Paze limits and fees

Bank of America does not charge a fee to send or receive money through Paze. However, your account may have daily or per-transaction limits on how much you can send. These limits vary depending on your account type and your banking history with Bank of America. You can check your specific limits in your mobile app or by calling Bank of America customer service.

The recipient's bank may also have limits on how much they can receive in a single day. If you hit a limit, you'll see an error message when you try to send. You can either wait until the next day to send the remaining amount, or use a different transfer method.

How Paze differs from other Bank of America transfer options

Bank of America offers several ways to move money: Paze, Zelle, wire transfers, and ACH transfers. Paze is the fastest — money arrives in seconds. Zelle is also fast (usually within minutes to a few hours) and works with many banks, but it's a separate service from Paze. Wire transfers are reliable and work to almost any U.S. bank, but they cost money and take longer. ACH transfers are free but the slowest, typically taking one to three business days.

Choose Paze when you need money to arrive almost when ready and both you and the recipient bank at RTP-participating institutions. Use Zelle if the recipient's bank doesn't support Paze. Use a wire transfer when you're sending a large amount and need a may provide it will arrive. Use ACH when speed doesn't matter and you want to avoid fees.

What happens if a Paze transfer fails

If a Paze transfer fails, the most common reason is that the recipient's bank doesn't participate in the RTP network. Bank of America will notify you that the transfer couldn't be completed, and your money will be returned to your account within a few minutes. You won't be charged a fee for a failed transfer.

Less commonly, a transfer might fail if you entered the wrong phone number or email address, or if there's a temporary problem with the RTP network itself. If you think you entered the wrong contact information, do not send the transfer again — contact Bank of America first to confirm what happened. If the network was temporarily down, you can try again once it's back up.

Frequently Asked Questions

Can I send Paze payments to someone at a credit union?

Only if that credit union is part of the RTP network. Some credit unions participate, but not all. The easiest way to find out is to try sending a Paze payment — if the credit union isn't on the network, the transfer will fail and your money will return to your account. You can then use Zelle or another method instead.

Is Paze safe?

Paze uses the same security standards as other Bank of America transfers. Your login credentials protect access to your account, and the RTP network encrypts the payment data. However, like any payment method, you should only send money to people you trust and verify you have the correct phone number or email before sending.

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

Because Paze is when ready, the money reaches the recipient's account when ready and you cannot cancel it the way you might with a check or ACH transfer. If you sent money to the wrong person, contact Bank of America right away and explain what happened. They may be able to help, but there's no may provide the recipient will return the funds.

Do I need the recipient to set up anything on their end?

No. The recipient doesn't need to read an app, create an account, or take any action. The money goes directly into their bank account. They'll receive a notification from their bank that a Paze payment arrived, but that's automatic.

Can I schedule a Paze payment for a future date?

Bank of America's Paze service sends money when ready when you confirm the transfer. If you need to send money on a specific future date, you may need to use a different transfer method like ACH, which allows scheduling. Check your Bank of America app to see which transfer methods support scheduled payments.