How to Link Merrill Edge with Bank of America: and investment go simultaneously in today’s world. If you have a Merrill Edge account and a Bank of America account, you will be linking the Merrill Edge account with that of the Bank of America account. By linking them, you can manage your money with lots of ease: you will have the advantage of transferring funds between the two accounts with no delay. Here is a clear picture of how to link your Merrill Edge account to your Bank of America account.
Why Link Merrill Edge with Bank of America?
By linking them together, you will have some added benefits. You will be able to transfer money from one account to the other instantly. This is great if you need to add funds to your investment account in a hurry. Also, with them linked, managing your savings and investments is that much easier on the one site. You will not have to log onto multiple sites all the time; you will see it all.
Another advantage could be special rewards by Bank of America to those who have linked accounts. So, you might receive more points or more rewards. And lastly, it just makes life easier. You won’t have to go through the hassle of manually transferring money from bank to bank. It saves you time and energy.
Eligibility Requirements to Link Accounts
To link your accounts, there are only a few things you need to be sure of: You must have both a Merrill Edge account and a Bank of America account. Both accounts should be active, and you need to have online banking available for them.
Besides that, make sure that this Bank of America account is eligible for linking. There are restrictions on linking some accounts, such as retirement accounts, which cannot link up with brokerage accounts among other accounts like Merrill Edge. Another thing is to find out whether there are restrictions on some of your accounts. For example, if your account is on review or frozen, you wouldn’t be able to link it.
You will want your log-in information for both accounts ready. This means having your Merrill Edge and Bank of America usernames and passwords ready. If you forget these, you might have some problems when linking the two accounts.
How to Link Merrill Edge with Bank of America
Now, let’s explore how you actually link your Merrill Edge account with Bank of America. It is an easy process and takes only a couple of minutes.
- Step 1: Log in to your account at Bank of America. You can log in either from their website or through the mobile application of the bank. You will need to log onto the official website.
- Step 2: Once you log in, click the “Transfers” tab. Usually, it is located in the top menu; if you are using the application on your mobile phone, then find some similar option there.
- Step 3: In the Transfer section, you will get an option saying, “Link a Brokerage Account.” Click that option.
- Step 4: The subsequent step is to fill in your Merrill Edge account information. You are required to give your account number and other details for that account. You may also have a few security questions to answer so they can confirm who you are.
- Step 5: Confirm linking once all the information has been entered. You may receive an email confirming this, or you may get an on-screen message saying these accounts are linked.
And that’s it! Your Merrill Edge account is now connected with your Bank of America account.
How to Transfer Funds Between Merrill Edge and Bank of America
As soon as the accounts are connected, it is very easy to transfer money between them. Here’s how you can do that:
Log in to your account with Bank of America online. Click Transfers. Be sure to select the account from which you want to pull money. For example, if you’re transferring funds from Bank of America to Merrill Edge, select Bank of America as the “from” account.
Then, choose Merrill Edge as the “to” account. Fill in the amount you want to transfer and confirm the transaction. You will be surprised to know that most of the time, it gets transferred instantly. A few times, in some cases when both accounts are not fully qualified to provide an instant transfer facility, it takes 3 days to show money in your account.
You can also start a transfer in the mobile application. It will be similar to the instructions above for the website. Go to “Transfers,” choose your accounts, and confirm the amount.
Note that not all accounts are eligible to receive immediate, same-day transfers. It may take a little extra time with some retirement accounts or other special savings. If using Bank of America or Merrill Edge, it would be prudent to call into their customer service and verify your particular situation.
Troubleshooting Common Issues
Sometimes, things do not go as smoothly as planned. If you have some sort of trouble linking up the accounts, here are a few things you can do.
First, ensure that you have all the information correctly. Double-check your account number and login details. Any of that information being wrong will hinder the system from allowing you to link the accounts.
Next, check to see if your accounts are linkable. Some accounts, such as specific retirement accounts or credit cards, cannot be linked with Merrill Edge. If your account is one of these, then it will not be possible to complete the linking process.
If for some reason you are still not able to complete a task, then the customer service is certainly something you may want to consider. Support teams for Merrill Edge and Bank of America can be called or reached via email by describing your problem. In most instances, they can help you take care of the problem at hand.
Conclusion
This was the complete article on How to Link Merrill Edge with Bank of America. Linking Merrill Edge to Bank of America can make handling your finances a whole lot easier. You will have quick and easy transfers between accounts. You will also get the added benefit of better account management and rewards. It is pretty simple and takes only a few minutes to do. If the steps above are followed, one should not have any problems linking the accounts.
If you are facing any issues, no need to worry; there are plenty of resources that would help you carry through. Get into the comfort of having your accounts all at one place!
Also Read: Northern Arc Capital IPO Review: Key Insights and Investment Potential
FAQs
Can Merrill Edge and Bank of America be unlinked?
Yes, you can at any time. Simply visit Transfers and click on “Unlink”.
Are there any fees I will need to pay for linking these accounts?
No, linking accounts does not involve any type of fee.
How long does it take to make a transfer between the accounts?
Most transfers are done instantly; others can take up to 3 days depending on account types.