Bank Of America Auto Loan: The Bank of America is an American multinational financial institution, headquartered in Charlotte, North Carolina. The bank has 4,600 retail financial centers and it serves worldwide. In the United States, the bank is operative in 28 states and offers personal banking, investment options, mortgages, and auto loan. In this post, we will be talking about Bank of America Auto Loan and its payment methods.
Mainly there is a total of four payment options that are made available to their bank customers to pay off their loan. If you are also among those people who have taken an auto loan from Bank of America, then you can also opt for any of these available options to make the loan payment successfully. Read further to know about Bank of America Auto Loan Payment.
How to Pay Off Bank of America Auto Loan?
If you are a first-time user and don’t know how to pay off a Bank Of America Auto Loan, then read these four simple methods carefully.
Method 1: Pay Using Online Bill Pay
From the multiple available loan payoff options, the first one we are going to explain is the online method. Bill Pay is the mobile banking app introduced by Bank of America for their clients. This online banking service is used by many people for paying back their auto loans. To make the payments online, you have to follow these given instructions carefully:
- Step 1: In the first step, you have to visit the auto loan website of the bank. For this, you have to visit https://secure.bankofamerica.com/login
- Step 2: Once you have reached the site homepage, go to the upper right corner of the screen and click on login.
- Step 3: Now, the login page will open where you have to provide your User ID and password and click on the Sign-in button.
- Step 4: After you are logged in to your online account, go to the payment option and enter the amount you have to pay.
- Step 5: After this, you have to select the payment method such as checking account, credit/ debit card, etc. Also, you can make payment from your Bank of America checking account or else from any of your accounts from a different bank.
- Step 6: In the case of another bank account, you will have to provide the account details of the same.
- Step 7: Check your transaction once more and click on the submit button.
- Step 8: At last, you must record your confirmation code as well.
Method 2: Pay by Phone
Other than the online method, the customers can also pay off their loan by Phone. All you have to do is to call the Bank of America auto loan customer service number. The best part of this method is that this phone service is available 24/7, so you can make a payment anytime. For paying off Bank of America Auto Loan by phone, you have to call this official contact number: 800 215 6195. One must take note that the same-day payments cannot be canceled once it is done.
Method 3: Pay by Mail
If you don’t want to go for the online or phone methods, then there are other options for you to pay off Bank of America Auto Loan. In this method, all you have to do is just mail the amount of your car loan to their mailing address. You can mail cash or money order to their address for making loan payments. As the mailing option can be a little time-consuming, so make sure to send the mail 2-4 days before the due date. Along with the payment, you must also add your loan account number as well.
The official mail address is– Bank of America, N.A., PO Box 15220, Wilmington, DE 19886-5220.
Method 4: Pay in Person
Last but not the least, you can go to the bank itself to pay off your auto loan. Nowadays, you can easily find any location online, so search the Bank of America center which is nearby your location. Go to the bank branch and pay off your auto loan in person.
Note: If in case you don’t have a deposit account with Bank of America, then you can probably set up an electronic pay-off of your auto loan. It will be set up from your account which is currently at a different financial institution.
How to Sign Up for Automatic Payments to your Auto Loan?
Sign Up for Automatic Payments to your Auto Loan is a very easy process. It can be done by two methods such as by Online Bill Pay or by Paper Signup Form. If you are an Online Banking customer, then the process will be more easier for you. All you have to do is to sign in to your Online Bill Pay account and set up for autopay. You can schedule the date and the banking account from which you want to make the payment.
If you’re not an Online Banking customer, then you can use the paper signup form. You have to include a check and then mail it or fax it to the location that is specified on the form. Once you have signed up, an official letter will be mailed to you within 3 to 4 weeks approving the date for your automatic payments to start.
Note: You can choose only one option from Online Bill Pay or Paper Signup Form for signing up for Automatic Payments to your Auto Loan.
Customer Service Number
- New Customers can call at 844 892 6002 from Monday to Friday, starting at 8:00 AM till midnight ET.
- Existing Customers can call at 800 215 6195 from Monday to Friday, starting at 9:00 AM till 8:00 PM ET. On Saturday, you can call customer service from 9:30 AM to 6:00 PM ET.
Final Words
Once you have paid all of your Bofa Auto Loan Payment, you may receive your lien release along with a paid-in-full letter and title (if available) within 7 to 10 business days after the bank collects and process your payoff. If in case the title is electronic or other conditions have been applied to your loan, the letter from the bank will also note the process for obtaining the title. The Bank of America will make sure that the lien release is recorded accurately. This was all about Bank of America Auto Loan Payment; we hope you will find this information useful.