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Buy Bitcoin with Bank of America

[✓] last verified 2026-01-28·Reviewed by BankToBTC Team

Data from bank docs & FinCEN registers · How we verify · Report an error

Allows transfers but may block cards.

Crypto Compatibility Score: 62/100 (Fair)

Score Breakdown:

  • Payment methods: 15/35 pts
  • Bank transfer reliability: 21/25 pts
  • Limits: 12/20 pts
  • Cost: 8/10 pts
  • Evidence: 9/10 pts
  • Penalties: -3 pts

Supported payment methods: ach, wire

Last verified:

Quick Verdict

Bank of America doesn't offer crypto, so you'll fund a FinCEN-registered exchange instead. ACH transfers work well, though your first one may trigger a routine fraud verification call.

  • [✗]

    Can you buy Bitcoin in the app?

    No, use an external exchange

  • [✓]

    Can you fund an exchange?

    Yes, using ACH Transfer

  • [›]

    Best funding method

    ACH Transfer

  • [!]

    Potential issue

    First time transfer may trigger fraud verification

Top Exchanges for Bank of America

Step-by-step guide to buying Bitcoin with Bank of America

Most Bank of America users fund a regulated exchange using ACH Transfer under FinCEN norms. Here is a quick walkthrough.

  1. Pick a regulated US exchange
    Choose a FinCEN-registered and state-licensed exchange to reduce friction when funding from Bank of America.
  2. Create your exchange account
    Register with your email and set security options like two factor authentication.
  3. Complete identity verification
    Submit ID and required details so your account can receive deposits.
  4. Link your Bank of America checking account
    Use the exchange bank linking flow and connect your Bank of America account, then confirm the account if the exchange requests a verification step.
  5. Send funds via ACH transfer
    Open the Bank of America app, tap Pay and Transfer then Transfers, and send to your linked external account if you set one up, or initiate the ACH from the exchange and approve any bank alerts.
  6. Wait for the deposit to settle
    ACH deposits usually take 1 to 3 business days, and first payments to new recipients can trigger extra fraud prompts.
  7. Purchase Bitcoin
    Buy BTC once the deposit posts to your exchange balance.
  8. Secure your Bitcoin
    Consider withdrawing to a personal wallet if you plan to hold.

[!] Troubleshooting

  • If your first ACH transfer is held, answer any in-app fraud prompts and be ready for a verification call on new recipients.
  • If adding the exchange as an external account fails, recheck name matching and try micro-deposit verification where offered.
  • If card deposits get declined, use ACH and avoid repeating rapid attempts that trigger risk scoring.

Frequently Asked Questions

Can you buy crypto with Bank of America?

Yes. Bank of America does not offer a direct Bitcoin buy flow in its banking app, so most customers use ACH to fund Coinbase, Kraken, or Gemini and trade inside the exchange. Bank of America explains that outbound transfers can arrive next business day or within 3 business days depending on the delivery option and cutoff time. If you want BTC exposure inside the Merrill platform, Merrill supports Bitcoin ETFs, but that is an ETF position, not on-chain Bitcoin.

Can I buy crypto inside Bank of America accounts, or is it transfer-only?

For deposit accounts, it is transfer-only. Bank of America's consumer banking stack focuses on ACH, wires, and Zelle for moving USD, not an in-app spot crypto buy and custody workflow.

Why did Bank of America decline my exchange card payment, and what is the fastest fallback?

If a card purchase is declined, the fastest fallback that avoids repeated card authorizations is usually an ACH transfer. Bank of America accounts support multiple payment methods for moving money, including ACH and wires, which tend to be more predictable for exchange funding than retrying card charges.

Does BofA Advantage SafeBalance Banking work for exchange funding?

Yes for electronic funding methods, but it is a checkless account and you should treat it as a digital payments account. SafeBalance supports payments like debit card, wire transfer, ACH, Zelle, and bill pay, so ACH or wire are typically the cleanest ways to fund an exchange.

How much does Bank of America charge for wires when funding an exchange?

Bank of America publishes standard consumer wire fees in its Personal Schedule of Fees. The disclosure lists domestic outgoing wires at $30 and domestic incoming wires at $15, along with international wire pricing and additional notes on third-party fees.

Do Preferred Rewards tiers change wire fees for large exchange deposits?

They can. The Personal Schedule of Fees explains wire fee waivers tied to Preferred Rewards tiers, including waivers for certain incoming wires and outgoing wire fee waivers at higher tiers under specified limits.

Evidence & Verification

This page references 4 sources: BofA Personal Fee Schedule, BofA Zelle FAQs, Bank of America Source. Information was compiled from official sources and user reports.

Sources:

How we verify · Report an error

Information can change without notice. Always verify current policies directly with your bank and exchange before making transactions.