Bank of America's wire transfer process and fees
Bank of America lets you send domestic and international wire transfers through online banking, mobile app, phone, or in person at a branch. The process differs slightly depending on which method you use, but all routes require the recipient's bank account number, routing number, and bank name. Bank of America charges a fee for outgoing wires: domestic wires cost $15 per transfer, and international wires cost $45 per transfer as of 2024, though fees can change.
You can initiate a wire transfer the same day you request it if you do so before the bank's cutoff time, which is typically 2 p.m. Eastern Time on business days. Wires sent after that cutoff or on weekends and holidays process the next business day. Once sent, a wire transfer cannot be recalled or reversed, so double-check the recipient's information before confirming.
Bank of America requires you to have sufficient funds in your account to cover both the transfer amount and the fee. If you do not have enough money, the wire will not go through and you may be charged a returned-item fee.
Key Takeaways
- Domestic wires through Bank of America cost $15 and typically arrive the same business day if sent before 2 p.m. Eastern Time.
- International wires cost $45 and require the recipient's SWIFT code or IBAN in addition to account and routing numbers.
- You can send a wire online, through the mobile app, by phone at 1-800-869-3557, or in person at a branch.
- Wire transfers cannot be stopped or reversed after they are sent, so verify all recipient details before you confirm.
- Bank of America holds new accounts for a period before allowing wire transfers; the hold length depends on your account type and how you opened it.
Sending a domestic wire transfer online or through the mobile app
Log into your Bank of America online banking account or open the mobile app and navigate to the Transfers section. Select "Wire Transfer" and choose "Domestic" if the recipient's bank is in the United States. Enter the recipient's full name, bank name, account number, and nine-digit routing number. Bank of America will show you the $15 fee and the total amount that will leave your account.
Review all details carefully before clicking confirm. Once you submit the wire, you will receive a confirmation number. Save this number in case you need to contact Bank of America about the transfer later. The wire typically arrives at the recipient's bank within one business day, though some banks take longer to post the funds to the recipient's account.
Sending an international wire transfer
International wires require more information than domestic ones. In addition to the recipient's name and account number, you will need the recipient's bank's SWIFT code (an eight or eleven-character code that identifies the bank worldwide) or the recipient's IBAN (International Bank Account Number, used mainly in Europe and some other regions). You will also need the recipient's bank name and address.
Bank of America charges $45 for outgoing international wires. The recipient's bank may charge an additional fee to receive the wire, and intermediate banks may also deduct fees along the way, so the amount the recipient receives may be less than what you send. Ask the recipient's bank in advance what fees they charge so there are no surprises.
International wires typically take three to five business days to arrive, though the exact timing depends on the destination country and the banks involved. Some countries have slower banking systems or additional security checks that can extend the timeline.
Sending a wire transfer by phone or in person
You can initiate a wire transfer by calling Bank of America at 1-800-869-3557 and speaking with a representative. Have the recipient's information ready before you call. The representative will walk you through the process and confirm all details with you before sending the wire. You will still pay the $15 domestic or $45 international fee.
If you prefer to handle it in person, visit any Bank of America branch with your ID and the recipient's information. A banker will help you complete the wire transfer form and process the transaction. In-person wires may take slightly longer than online wires because the banker has to enter the information into the system, but they still process on the same business day if completed before the cutoff time.
Wire transfer limits and account restrictions
Bank of America does not publish a single maximum wire transfer amount that applies to all customers. Instead, limits depend on your account type, how long you have held the account, your relationship with the bank, and your account history. New accounts often have lower limits or are blocked from sending wires entirely for a set period, typically 30 days to several months.
If you are unsure whether your account can send wires or what your limit is, call Bank of America at 1-800-869-3557 or ask at a branch. The bank can tell you your current limit and explain any restrictions on your account. If your limit is too low for what you need to send, you may be able to request an increase by providing additional information about the transfer.
What information you need before sending a wire
For a domestic wire, gather the recipient's full name exactly as it appears on their bank account, their bank account number, the name of their bank, and the bank's nine-digit routing number. You can find routing numbers on the bank's website, by calling the bank, or by looking at a check from that bank.
For an international wire, you will also need the recipient's bank's SWIFT code or the recipient's IBAN, and the bank's full address including the country. Some banks require additional information such as the recipient's address or a reference code. Contact the recipient's bank directly if you are unsure what information to provide.
Tracking and confirming a wire transfer
After you send a wire, Bank of America provides a confirmation number. Log back into your account within a few hours to verify that the wire appears in your transaction history with a "pending" or "sent" status. The confirmation number and transaction details are your proof that you sent the wire.
If the wire does not appear in your transaction history within a few hours, contact Bank of America when ready. If the wire was sent to the wrong account or the recipient says they did not receive it, you will need the confirmation number and all recipient details to file a trace request. Bank of America can investigate where the wire went, but they cannot reverse it or may provide recovery.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
No. Once a wire transfer leaves Bank of America, it cannot be stopped or reversed. If you sent it to the wrong account, you must contact Bank of America when ready with your confirmation number so they can attempt to trace it, but recovery is not may provide. Always verify the recipient's information before you confirm the wire.
How long does a Bank of America wire transfer take?
Domestic wires typically arrive the same business day if sent before 2 p.m. Eastern Time, though the recipient's bank may take an additional day to post the funds. International wires usually take three to five business days, depending on the destination country and the banks involved. Wires sent after the cutoff time or on weekends process the next business day.
Why is my Bank of America account blocked from sending wires?
New accounts are often restricted from sending wires for 30 days to several months. Bank of America may also block wires if your account is flagged for suspicious activity, if you have unpaid fees, or if you have not verified your identity. Call 1-800-869-3557 to ask why your account is restricted and what you need to do to restore wire transfer access.
What happens if the recipient's bank rejects the wire?
If the recipient's bank rejects the wire because the account number is wrong or the account is closed, the funds are returned to your Bank of America account. This process typically takes five to ten business days. You will see the refund appear in your account, minus any fees the recipient's bank charged for the rejection.
Does Bank of America charge a fee to receive a wire transfer?
No. Bank of America does not charge you a fee to receive incoming wire transfers. However, if you are receiving an international wire, the sending bank or intermediate banks may have deducted fees from the amount, so you may receive less than what was sent.