Bank of America's Wire Transfer Fees
Bank of America charges $15 for domestic wire transfers sent from most checking and savings accounts. International wire transfers cost $45. These fees explore whether you initiate the wire at a branch, through online banking, or by phone.
The fee is deducted from your account at the time you send the wire. Some account types and customer segments may have different pricing — for example, Bank of America Preferred Rewards members sometimes receive fee waivers or reductions depending on their tier level. It's worth checking your specific account terms or calling 1-800-432-1000 to confirm what applies to you.
Key Takeaways
- Domestic wires from Bank of America cost $15 per transfer, and international wires cost $45.
- The fee is charged when ready when you send the wire, whether you use a branch, online banking, or phone.
- Preferred Rewards members may receive fee reductions or waivers depending on their membership tier.
- Bank of America does not charge a fee to receive incoming wires from other banks.
- You can compare these fees to other banks before deciding where to send your wire.
When the $15 or $45 Fee Is Charged
The fee posts to your account on the same day you send the wire. You do not pay it separately — Bank of America deducts it from your available balance as part of the wire transaction. This means if you have $1,000 and send a $500 domestic wire, your account will show $485 remaining (the $500 wire plus the $15 fee).
If your account does not have enough funds to cover both the wire amount and the fee, the wire will be rejected. Make sure you have the full amount plus the fee available before you initiate the transfer.
Preferred Rewards and Fee Waivers
Bank of America's Preferred Rewards program offers tiered membership based on how much money you keep in Bank of America accounts. Members at higher tiers may receive wire transfer fee waivers or discounts. The exact benefit depends on your tier — Gold, Platinum, or Diamond — and your membership status.
To find out whether your Preferred Rewards tier includes wire fee benefits, log into your online banking account and check your rewards details, or call 1-800-432-1000. If you are not yet a Preferred Rewards member, you can enroll through online banking at no cost.
Incoming Wires and Other Wire-Related Costs
Bank of America does not charge you a fee to receive a wire transfer from another bank. The sending bank may charge the sender, but you will not see a deduction on your end. The full amount arrives in your account, minus any fees the sending bank took from their customer.
If you need to cancel a wire after you have sent it, contact Bank of America when ready. Cancellation is possible only if the wire has not yet been delivered to the receiving bank. There is typically no fee to cancel, but the sooner you contact the bank, the better your chances of stopping it.
How to Send a Wire Through Bank of America
You can send a wire through Bank of America in three ways: online, at a branch, or by phone. Online is the fastest and most convenient for most people. Log into your Bank of America account, go to the "Transfer Money" section, select "Wire Transfer," and enter the recipient's bank details, the amount, and the purpose of the wire. You will see the $15 or $45 fee displayed before you confirm.
At a branch, a teller will help you complete the wire form and collect the information needed. By phone, call 1-800-432-1000 and a representative will walk you through the process. All three methods charge the same fee and typically deliver the wire the same business day if sent before the bank's cutoff time, usually 2 p.m. Eastern Time on weekdays.
Comparing Bank of America Wire Fees to Other Banks
Bank of America's $15 domestic wire fee is in the middle range compared to other large banks. Some banks charge $10 to $20 for domestic wires, while others charge $25 or more. International wires vary more widely — some banks charge $30, others charge $50 or higher.
If you send wires frequently, the fee difference can add up. A bank charging $10 per domestic wire instead of $15 would save you $5 per transfer. Over a year of monthly wires, that is $60. If your current bank offers fee waivers for certain account types or membership levels, factor that into your comparison as well.
What Information You Need to Send a Wire
Before you initiate a wire at Bank of America, gather the following details about the recipient and their bank. For a domestic wire, you need the recipient's full name, their bank's name and routing number, the recipient's account number, and the amount you want to send. You may also want to include a brief reference or memo so the recipient knows what the wire is for.
For an international wire, you will also need the recipient's bank's SWIFT code (an international bank identifier), and sometimes an IBAN (International Bank Account Number), depending on the country. Bank of America's wire form will prompt you for the fields required based on the destination country. If you are unsure whether you have the correct information, call the recipient's bank directly to confirm before you send the wire — wires cannot be reversed if the account number is wrong.
Frequently Asked Questions
Can I get the $15 wire fee refunded if I made a mistake?
Bank of America does not automatically refund wire fees. However, if you sent the wire to the wrong account or the recipient never received it, contact Bank of America customer service right away. They may be able to help recover the wire or discuss a refund depending on the circumstances, but this is not may provide.
Do I pay the wire fee if the wire is rejected?
No. If your wire is rejected because of insufficient funds, incorrect recipient information, or a bank error, you will not be charged the $15 or $45 fee. The fee is only charged when the wire is successfully sent.
Is there a limit to how much I can wire from Bank of America?
Bank of America does not publish a single wire limit that applies to all customers. Limits vary based on your account type, your history with the bank, and fraud prevention rules. Contact Bank of America at 1-800-432-1000 to find out your specific limit, or try to send the wire online — the system will tell you if the amount exceeds your limit.
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 on a weekday. International wires usually take one to three business days depending on the destination country and the receiving bank's processing time. Weekends and holidays may delay delivery.
What is the difference between a wire transfer and an ACH transfer?
A wire transfer moves money directly between banks and usually arrives the same day, but costs $15 or more. An ACH transfer is slower (typically one to three business days) but is free or costs just a few dollars. Bank of America offers free ACH transfers for most customers, making it a cheaper option if you are not in a hurry.