How to wire money with Bank of America (Internationally & domestic)
Bank of America is one of the Big 4 of American banks, serving millions of customers with retail and commercial banking locations throughout the US. If you’re a Bank of America account holder, you may be looking for easy ways to send wire payments to others at home and abroad.
This guide covers all you need to know. We’ll cover how to wire money with Bank of America, as well as alternative specialist online options for cross-border payments, including Wise and OFX which can offer better exchange rates, lower fees, and faster delivery times compared to Bank of America.
Bank of America wire transfers
As a Bank of America customer you’ll be able to make a wire transfer online or in the Bank of America mobile banking service, or by attending a branch in person. You may need to make an appointment in advance before you head to your local branch – so do check out the details before you visit.
To make sure your payment can be processed smoothly, you’ll be asked to provide:
- Account holder’s name
- Account holder’s bank name and bank account number
- Wire routing number (ABA)
If your wire payment is going overseas you’ll probably also need:
- Bank’s SWIFT/BIC code
- Reason for payment (this applies for select countries only)
- Intermediary bank information – optional
Ultimately, the exact details you need will depend on the specific payment you want to make. If you’re sending a high value payment, for example, you may also need to provide information about the source of the funds, for compliance and verification reasons. If you’re sending payments through a Bank of America business account, you may also be asked to provide further information about the transaction. You’ll be guided through the transfer process online or in a Bank of America branch, to make sure you have everything you need.
How to wire money with Bank of America: Step by step
Once you’ve gathered all the information you need to wire a payment, these are the steps to take, depending on whether you’re making your transfer digitally or in person.
How to wire money online internationally with Bank of America
Wiring money internationally with Bank of America can be a straightforward process.
1: Log in to online banking
Before you start, gather your recipient’s information, including:
- Full name and address
- Bank details, including SWIFT code, wire routing number, bank account number, and account type
You’ll also need your debit card number and PIN if you’re not enrolled in Secured Transfer.
2: Go to Pay & Transfer
Select Pay & Transfer from the main menu.
3: Choose Wire/ACH
Click on Wire/ACH to start the wire transfer process.
4: Accept the Service Agreement
If it’s your first time using this service, read and accept the Service Agreement to enroll.
5: Add your recipient’s information
Select Add Account/Recipient for new recipients, then:
- Choose International and select the recipient’s country and currency.
- Enter the recipient’s name, address, and bank details (including SWIFT code, bank name, and account number).
6: Verify your identity
Complete the identity verification by enrolling in Secured Transfer if prompted. You’ll receive an authorization code via text to finalize this step.
7: Set up your transfer
After adding the recipient:
- Select your “From” account and the recipient’s account.
- Enter the transfer amount and select the purpose of the transfer.
- Review all details, agree to the terms, and click Make Transfer.
8: Confirm the transfer
Once you see the confirmation message, “Your transfer is on the way,” your transaction is complete. You will receive an email confirmation, and the funds typically reach the recipient within 1-2 business days.
You can monitor the transfer status via the Transfer Activity tab. Keep in mind that international transfers from consumer accounts can be canceled within 30 minutes of submission; after that, they proceed immediately.
In branch
If you’d prefer to make your international wire transfer in person, you can also visit a Bank of America branch. You can simply pop into any one of your local branches or make an appointment, and a member of staff will guide you through the process. Just make sure that you have all of the necessary information, including the recipient’s full name, address, bank details (such as the SWIFT code and account number), and any relevant identification first.
How to avoid international wire transfer fees
Sending an international wire with your regular bank can be expensive. There’s often a high transfer fee, plus potential intermediary costs – and you may not get the very best exchange rate on offer either.
You’re not out of luck through – here are some smart ways to cut or avoid international wire fees:
- Use a multi-currency account, from a specialist provider such as Wise or Revolut
- Choose a specialist international transfer service like Wise or OFX
- Compare your options with our comparison engine to see a range of providers, including their fees, rates and delivery times
Bank of America wire transfer fees and rates
The exact costs of a Bank of America wire will depend on where you’re sending money to, the currency, and the specific account type you have. Here’s a rundown of the standard charges – you can get more information from your own account’s terms and conditions.
Bank of America domestic wire transfer fees
| Domestic wire fee (outgoing) | Domestic wire fee (incoming) |
|---|---|
| 30 USD | Incoming domestic wire fees vary by account type |
Bank of America international wire transfer fees
| International wire fee (outgoing) | International wire fee (incoming) |
|---|---|
| 45 USD if sent in USD No transfer fee if sent in a foreign currency – exchange rate markups will apply | Incoming international wire fees vary by account type |
Bank of America exchange rates
Even if you don’t need to pay a specific transfer fee for your international wire with Bank of America, there will be a charge added into the exchange rate that’s used to convert your funds to the currency you need. This is known as a markup or margin, and is a percentage charge rolled up in the exchange rate offered for your transfer.
The Bank of America exchange rate can include a markup, as well as profits, fees, costs and charges – that is likely to mean the rate you get is inferior to the rate you’ll find on Google if you search for your currency. There’s more on how to avoid these extra costs coming up later.
Additional fees
If you’re sending a Bank of America wire payment internationally, it’s good to know that there may also be additional fees which are paid to third parties involved in processing the transfer.
These charges are usually a result of transfers being processed via the SWIFT network, and go to intermediary banks which are required along the way. One problem with this is that the full cost of your transfer may not be known before you confirm and initiate the payment – that can mean your recipient gets less than you were expecting in the end.
Alternatives to Bank of America wire transfer
Modern online alternative providers like Wise and OFX could provide better exchange rates and lower fees when you’re sending a payment overseas. Here are a few to consider:
Wise: Low cost international transfers which use the mid market rate, to 80+ countries. Over 50% of payments arrive instantly, and you can set up an account online or in the Wise app easily without leaving home. To learn more about Wise, read our full Wise review.
OFX: Currency specialist offering personal and business payments to 50+ countries, plus currency risk management services, and a 24/7 phone support team to answer your questions. Read our OFX Review to learn more.
Western Union: One of the world’s largest payment providers, you can send payments with Western Union for delivery to bank accounts, as well as for cash collection, to mobile wallets and more.
Here’s a summary of Bank of America’s fees compared to a couple of online payment specialists – Wise and OFX:
| Provider | Domestic US transfer fee | International transfer fee | International transfer exchange rate |
|---|---|---|---|
| Bank of America International Wire Transfer | 30 USD | No upfront fee for payments sent in foreign currencies 45 USD charge for payments sent in dollars | Exchange rates can include markups, profits, fees, costs and charges |
| Wise | For ACH, 2.92 USD fixed fee + 0.25% variable fee. 9.03 USD fixed fee per transaction for USD wire transfers. | Low fees, varied by destination. Low conversion fees starting from 0.33%. | Mid-market exchange rate |
| OFX | Not available | Low fees, varied by destination | Exchange rates include a markup |
Ultimately the amount you pay for an international transfer will vary based on where you’re sending your payment to. However, the chances are that a specialist provider will offer a better rate and lower overall cost compared to your bank – you may also get a better deal on domestic payment by using a provider like Wise, too. Compare a few to see which provides the best mix of cost and convenience for your needs.
How long does a Bank of America wire transfer take?
Domestic wire payments can settle quickly, while Bank of America international wires are likely to take a few days to arrive in the recipient account. Ultimately the amount of time it takes for your payment to arrive will depend on factors like the currency and country involved, the value of the transfer, and the recipient bank’s processes. Bank of America also designates some countries as ‘slow to pay’ which means there’s a higher likelihood of your transfer being delayed to these destinations.
In many cases, a specialist service – which cuts out the SWIFT network – can mean a faster payment. Providers like Wise and OFX can often get your money moving faster than a regular bank – with transfers even arriving instantly on some popular routes.
Receiving money into a Bank of America account
To receive a payment into your Bank of America account you’ll need to give the sender:
- Your name as shown on your bank account
- Your full bank account number
- Wire routing number (ABA)
If your payment is coming from overseas there may be more detail required including the Bank of America SWIFT code – that’s covered next.
When you receive a payment to your account there may be a fee to pay, which depends on the payment type and the account you hold with Bank of America. Some accounts, including some Bank of America Advantage accounts and Preferred Rewards customers may not need to pay a fee for an incoming domestic wire transfer. A fee of around 15 USD applies for most other accounts – check your online banking for full details.
If the payment is coming from overseas the fees are only waived for some Preferred Rewards customers. Other account holders will pay a fee, which can be found in your specific account terms and conditions.
Bank of America SWIFT Code
To receive an international wire transfer to your Bank of America account you’ll need to give the sender your account information as set out above, as well as the SWIFT code for your transaction type.
In addition to your account information and other details, you will also need to provide the correct SWIFT code based on the currency being received to ensure that the funds are correctly routed to your account.
| Transfer type | SWIFT code |
|---|---|
| International wires in U.S. dollars | BOFAUS3N |
| International wires in foreign currencies | BOFAUS6S |
How to receive a wire transfer Bank of America
Receiving a wire transfer into your Bank of America account is simple:
- Provide your account information: Give the sender your full name as it appears on your Bank of America account, your full bank account number, and the wire routing number (ABA) for domestic transfers.
- Determine the type of transfer:
For domestic wire transfers, the sender needs your Bank of America account number and the domestic wire routing number: 026009593.
For international wire transfers, you’ll need to provide additional information such as the SWIFT code (see the next section for details).
- Share the bank address: Depending on the type of transfer (domestic or international), use the appropriate Bank of America address (refer to the previous section for the correct address).
- Check for fees: Be aware that receiving wire transfers may incur fees. Some accounts, like Bank of America Advantage or Preferred Rewards, may offer fee waivers for incoming domestic transfers.
- Confirm the transfer details: Double-check all details with the sender to ensure the transfer is processed correctly.
- Monitor your account: Domestic transfers will typically be credited the same business day, while international transfers may take 1-2 business days. You can track the status of your incoming wire via Online or Mobile Banking.
Bank of America address for wire transfer
Whether you’re receiving funds domestically or internationally, providing the correct bank address for your wire transfers is essential. The address varies based on whether you’re receiving a domestic wire, direct deposit, ACH transfer, or an international wire transfer.
Using the correct address ensures your funds are accurately and efficiently routed to your Bank of America account, whether the transfer is domestic or international.
For domestic wire transfers, ACH transfers, and direct deposits in U.S. dollars, you should use the following address:
| Transfer | Bank of America address |
|---|---|
| Domestic wire transfers and direct deposit in USD | Bank of America, NA, 222 Broadway, New York, New York 10038 |
For international wire transfers or payments received in a foreign currency, use this address:
| Transfer | Bank of America address |
|---|---|
| International wire transfers or payments in a foreign currency | Bank of America, NA, 555 California St, San Francisco, CA 94104 |
How to transfer money from Bank of America to another bank
Transferring money from your Bank of America account to another bank is easy thanks to bank-to-bank ACH transfers and is ideal for sending smaller amounts of money to someone you frequently transfer funds to, or for moving money between your own accounts at different banks.
- Gather recipient information: Make sure you have the recipient’s correct account and routing number. The routing number is a nine-digit code that identifies the bank where the account is held.
- Log into online or mobile banking: Log into your Bank of America account through the online banking portal or mobile banking app to initiate the transfer.
- Go to the Transfer section: Select the option to transfer money under the “Transfer” or “Transfer/Zelle” menu.
- Choose the transfer type: Opt for a bank-to-bank transfer.
- Enter recipient details: Add the recipient’s bank account number and routing number.
- Add the transfer amount: Enter the amount you want to transfer.
- Review and confirm: Double check the details and confirm the transfer.
How much does it cost to transfer money from Bank of America to another bank?
Most standard transfers between Bank of America and other banks are free for account holders. However, fees may apply depending on the type of transfer and the account type.
| Transfer type | Account type | Fee |
|---|---|---|
| Next Business Day ACH (outbound) | Consumer | $0.00 |
| Next Business Day ACH (outbound) | Small business | $5.00 |
| Next Business Day ACH (inbound) | Consumer | $0.00 |
| Three Business Day ACH (outbound) | Small business | $1.00 |
How to make ACH payments with Bank of America
ACH (Automated Clearing House) payments are a convenient way to send funds electronically between banks in the U.S and are often used for recurring payments, such as paying bills, or transferring money between your own accounts at different banks.
Here’s how to make an ACH payment at Bank of America:
- Log in to online or mobile banking: Log into your Bank of America account.
- Go to the Transfer section: Select “Transfer/Zelle” or “Pay & Transfer” from the main menu.
- Choose ACH transfer: Pick the ACH transfer option and select whether you’re transferring between your accounts or to an external account.
- Enter payment details: Provide the recipient’s account and routing numbers, and enter the payment amount.
- Review and confirm: Double-check all information, then confirm the payment to complete the ACH transfer.
How to send a high amount transfer with Bank of America
Wire transfers are a reliable solution for sending a large amount of money. While there is typically a fee associated with wire transfers, they offer a secure and efficient way to transfer higher sums, providing peace of mind. At Bank of America, you can initiate a wire transfer by phone, at a branch, or online, but online transfers are limited to $1,000 per transaction.
- Choose your transfer method: Decide whether you want to complete the transfer online, by phone, or at a branch (for amounts over $1,000).
- Gather recipient details: Collect the recipient’s name, account number, and routing number or SWIFT code.
- Log in or visit a branch: If you’re proceeding online, access your account and go to the “Transfer” section. For larger amounts, visit a branch or call Bank of America.
- Enter transfer information: Provide the recipient’s details and the transfer amount.
- Review and confirm: Check for fees, verify all details, and confirm the transfer.
How to wire money online with Bank of America (domestic US wires)
Let’s first look at how to send a Bank of America wire online and in the mobile app – this is usually the most convenient option, whether you’re sending a payment locally or overseas.
- Log into online or mobile banking and select the Transfer option
Log into your Bank of America account in your preferred way. Tap or hover over the Transfer/Zelle menu, and then select Transfer and To/from other banks (includes wires).
- Add the recipient
If this is the first time you have sent a payment to this recipient you’ll need to add them to your account. The option to do this is available on screen, simply tap and follow the prompts to add the recipient’s personal and banking information, including the details set out above. You’ll be asked to complete a verification step at this stage for security reasons.
- Confirm the payment details
Now you can make your transfer. Select the Make transfer tab, and enter the amount, currency, recipient and date of the payment. You may need to complete an additional verification step at this stage. You’ll be prompted to check everything over and confirm the transfer – and your money will be on its way.
At a Bank of America branch
If you prefer a face to face service you can also send a Bank of America wire at a branch. It may be more convenient to make an appointment at your local branch before you go there – this will also give you the opportunity to double check all the details you need so you know you have everything prepared before you leave home. Once you’re at the branch, a member of the service team will walk you through the payment procedure.
Related: Bank of America foreign transaction fees
Bank of America direct deposit
You can skip the hassle of visiting the bank and set up a direct deposit with Bank of America to have your paycheck or other recurring deposits automatically sent to your checking or savings account. Direct deposit is secure, convenient, and gives you same-day access to your funds from anywhere, reducing the risk of lost or stolen paper checks. Plus, you can set up Online Banking alerts to notify you when your money is deposited.
To set up direct deposit, simply log in to Online Banking and download a prefilled direct deposit form. If you’re not enrolled in Online Banking, you can easily sign up or manually complete a direct deposit form provided by your employer’s payroll office. You’ll need your Bank of America account and routing numbers, as well as your employer’s details.
Bank of America money order
BofA doesn’t support money orders. But Bank of America customers with a checking or savings account can get cashier’s checks at a financial center.
Conclusion
Bank of America does have a couple of handy ways to send domestic and international wires, depending on whether you prefer to bank online or in person. However, the fees are high for many account types. If you’re sending an international wire with Bank of America you may be offered a transfer with no upfront fee – but this really means that the costs are all added into the exchange rate, which still pushes up the overall price, and makes the entire process less transparent.
As an alternative if you’re sending money overseas, take a look at specialists like Wise and OFX, to see if they can help you move your money faster and for a lower fee. You may also find there are other handy services, like the multi-currency Wise Account which allows you to receive incoming payments from 30+ countries with no fee.
Bank of America wire transfer FAQs
What is the maximum amount you can wire with Bank of America?
For personal accounts, Bank of America has a 1,000 USD standard upper limit. If you need to send more than this you’ll need to visit a branch to understand your options.
What information do you need to make an international wire transfer with Bank of America?
To send your Bank of America international wire you’ll usually need:
- Account holder’s name
- Account holder’s bank name and bank account number
- Recipient bank’s SWIFT/BIC code
How much is a wire transfer with Bank of America?
Fees may vary depending on the account type you have. Standard domestic wires cost 30 USD, while international transfers sent in a foreign currency have no transfer fee, but do have charges rolled up in the exchange rate used to switch USD to the currency you need.
