What Bank of America charges for wire transfers

Bank of America charges $15 for domestic wire transfers sent from most checking and savings accounts. International wire transfers cost $45. These are the standard fees as of the most recent update, though fees can change and may vary slightly depending on your account type or whether you use a branch, phone, or online banking.

Some Bank of America account tiers waive wire fees entirely. If you hold a Preferred Rewards account at the Gold tier or higher, or if you have a Bank of America Private Bank account, wire transfer fees may be waived. You can check your specific account terms by logging into your online banking or calling the number on the back of your debit card.

Incoming wire transfers to your Bank of America account are free — you pay nothing to receive money. The sender's bank may charge their own fee, but Bank of America does not charge you for deposits that arrive by wire.

Key Takeaways

  • Bank of America charges $15 for domestic wires and $45 for international wires from standard accounts.
  • Preferred Rewards Gold members and Private Bank customers may have wire fees waived entirely.
  • You can send a wire through online banking, mobile app, phone, or in person at a branch.
  • Incoming wires are free; only the sender pays a fee.
  • Wire transfers typically complete within one business day for domestic transfers and two to five business days for international ones.

How to send a wire and when the fee applies

You can initiate a wire transfer through Bank of America's online banking portal, mobile app, by phone at 1-800-869-3557, or in person at a branch. The fee is charged at the time you send the wire, not when it arrives. If you cancel the wire before it is processed, you may be able to avoid the fee — contact your bank when ready if you need to stop a transfer.

For domestic wires, you will need the recipient's name, account number, and routing number. For international wires, you will also need the recipient's bank's SWIFT code and the bank's address. Bank of America can look up SWIFT codes if you provide the bank name and country, so you do not have to find this yourself.

Domestic wires typically arrive the same business day if sent before the cutoff time (usually around 2 p.m. Eastern time on weekdays). International wires take longer — usually two to five business days depending on the destination country and the receiving bank's processing speed.

Comparing Bank of America wire fees to other banks

Wire fees vary across banks. Some banks charge $20 to $30 for domestic wires, while others charge $10 to $15. A few online banks charge no wire fees at all, though they may have other limitations like fewer branch locations or stricter account requirements.

If you send wires frequently, the difference between banks can add up. Someone sending one wire per month would pay $180 per year at Bank of America's standard rate, compared to $120 at a bank charging $10 per wire. However, if you may have access to for a fee waiver through Preferred Rewards or another account tier, this comparison changes entirely.

Before switching banks solely to save on wire fees, consider your other banking needs: branch access, customer service, account features, and whether you use other services like bill pay or credit cards. The lowest wire fee is not always the best choice if it means losing other services you rely on.

Wire fees for different account types

Bank of America's standard wire fee of $15 domestic and $45 international applies to most checking and savings accounts. However, premium accounts have different terms. Preferred Rewards members at the Gold tier (which requires $20,000 in combined Bank of America balances) and Platinum tier (which requires $50,000) both receive wire fee waivers. The Platinum Honors tier (which requires $100,000) also waives wire fees.

Bank of America Private Bank customers, who typically maintain higher account balances and receive dedicated relationship management, also have wire fees waived. If you are not sure whether your account qualifies for a waiver, log into your online banking account and look for your account tier, or call 1-800-869-3557 to ask.

Student accounts and basic savings accounts do not waive wire fees. If you have a student account and need to send a wire, you will pay the standard $15 domestic or $45 international fee.

What happens if you send a wire by mistake

If you send a wire to the wrong account or realize you made an error after sending, contact Bank of America when ready. Call 1-800-869-3557 or visit a branch as soon as possible. The sooner you report the error, the better your chances of stopping the transfer before it arrives.

If the wire has already been delivered to the recipient's bank, Bank of America can submit a recall request, but the recipient's bank is not required to return the money. If the recipient is willing to send the money back, they will initiate a new wire transfer, and their bank may charge them a fee for that return wire. You would typically pay that fee as well.

Wire transfers are generally not reversible once they leave your bank, which is why it is important to double-check all recipient information before confirming the transfer. Take time to verify the account number and routing number, especially if you are sending to a new recipient for the first time.

Alternatives to wire transfers at Bank of America

If you want to send money without paying a wire fee, Bank of America offers other options. Bank of America transfers between two Bank of America accounts are free and arrive when ready. Zelle, Bank of America's peer-to-peer payment service, is also free and typically delivers money within minutes to hours, though it has a daily limit (usually $2,000 to $5,000 depending on your account history).

ACH transfers, which move money between banks through the automated clearing house system, are free at Bank of America but take one to three business days. This works well if you have time and are sending to another bank account. Bill pay, also free, lets you send money to businesses and individuals by mail or electronically.

Wire transfers are fastest and most reliable for large amounts or time-sensitive payments, especially to recipients outside the Bank of America network. For smaller amounts or less urgent transfers, the free alternatives often work just as well.

Frequently Asked Questions

Can I get my wire fee refunded?

Wire fees are generally not refunded once the transfer is sent. If you believe you were charged in error — for example, if you may have access to for a fee waiver and were still charged — contact Bank of America and explain the situation. They may review your account and issue a refund, but this is not may provide.

Do I pay the wire fee if the transfer fails?

If a wire transfer fails before reaching the recipient's bank, you may still be charged the fee. If it fails after reaching the recipient's bank, you will definitely be charged. Contact Bank of America to understand why the transfer failed and whether a fee can be reversed in your specific case.

Is the $15 fee the same at every Bank of America branch?

Yes, the domestic wire fee is $15 whether you send it online, through the app, by phone, or in person at a branch. The fee does not change based on how you send it, only on the type of wire (domestic or international) and your account tier.

What if I send a wire to another country that uses the same currency as the US?

International wire transfers are charged at the international rate ($45) regardless of the currency or destination country. The fee is based on whether the wire crosses a border, not on whether currency conversion happens.

Can I set up automatic wire transfers to save on fees?

Bank of America does not offer recurring wire transfers. You must initiate each wire individually, and each one incurs a separate fee. If you need to send regular payments, ACH transfers or bill pay may be better options since both are free and can be set to repeat automatically.