We may earn a commission for purchases through links on our site, Learn more.
- Wire transfers are fast and secure for sending money domestically and internationally.
- Gather recipient details, including name, account number, routing number, and SWIFT/IBAN for international transfers.
- Log into Bank of America online banking or use the mobile app to initiate the transfer.
- Choose between domestic and international transfers based on the recipient’s location.
- Input the recipient’s details carefully to avoid delays or errors.
- Specify the amount to transfer, review the fees, and check for daily transfer limits.
- Verify all details before authorizing the transfer to prevent mistakes.
- Use tracking features to monitor the transfer’s status and estimated delivery time.
- Domestic transfers typically complete in one business day; international transfers may take 2–5 days.
- Bank of America charges fees for wire transfers, varying for domestic and international transactions.
Wire transfers are a reliable and quick way to send money domestically and internationally. If you’re a customer of Bank of America and need to make a wire transfer, the process is straightforward once you understand the steps.
This guide will provide a clear, step-by-step breakdown of how to do a wire transfer with Bank of America. Whether you’re sending money for personal reasons, business needs, or to support family or friends, following this process will help ensure your funds reach their destination.
What Is a Wire Transfer?
A wire transfer is an electronic way to send money from one bank account to another. Wire transfers are typically faster than other payment methods, making them ideal for urgent transactions. With Bank of America, you can initiate wire transfers online, through the mobile app, or in person at a branch.
How to Get Started with Wire Transfers
Before initiating a wire transfer with Bank of America, it’s important to gather the necessary information. Doing so ensures that the process is efficient and error-free. Here are the key details you’ll need:
- Recipient’s Full Name: Use the exact name registered with their bank account.
- Recipient’s Bank Account Number: Double-check this to avoid errors.
- Recipient’s Bank Routing Number: This is a 9-digit code for domestic transfers.
- SWIFT Code or IBAN: You’ll need these codes for international wire transfers.
- Purpose of the Transfer: Some countries require a reason for sending funds.
Having these details ready will save time and prevent delays.
Step 1: Log In to Your Bank of America Account
To initiate a wire transfer, log into your Bank of America online banking account. Use the secure login page to enter your credentials. If you don’t have an online account, you can sign up by visiting the Bank of America website and following the registration steps.
Once logged in, navigate to the “Transfers” section. This is where you’ll find options for wire transfers.
Step 2: Choose Between Domestic and International Transfers
Bank of America offers two types of wire transfers: domestic and international. Domestic transfers are used to send money within the United States, while international transfers are for sending money to banks in other countries. Select the appropriate option based on where the recipient’s bank is located.
Bank of America uses the SWIFT network for international wire transfers, which requires additional information such as the SWIFT code and the recipient’s IBAN.
Step 3: Enter the Recipient’s Information
Once you’ve chosen the type of transfer, you’ll need to input the recipient’s details. Carefully fill out the following fields:
- Recipient’s full name
- Bank account number
- Routing number for domestic transfers or SWIFT code/IBAN for international transfers
- Address of the recipient’s bank (if required)
Double-check all information to ensure accuracy. Errors in these details could delay or cancel the transfer.
Step 4: Specify the Amount to Transfer
After entering the recipient’s details, indicate the amount of money you wish to send. Bank of America will show you the total cost of the transfer, including any fees. For international transfers, the system may also display the current exchange rate and the estimated amount the recipient will receive in their local currency.
Take note of any limits that may apply. Depending on your account type, Bank of America may have daily limits on the amount you can transfer.
Step 5: Review the Details
Before finalizing the transfer, carefully review all the details. Confirm that the recipient’s name, bank account number, and other information are correct. This is a critical step because mistakes can be costly and time-consuming to resolve.
If you spot any errors, go back and correct them. Bank of America allows you to edit the information before submitting the transaction.
Step 6: Authorize the Transfer
To complete the wire transfer, you’ll need to authorize it. Bank of America may require additional verification for security purposes. This could involve entering a one-time passcode sent to your phone or email.
Once you’ve authorized the transfer, Bank of America will process it. Domestic transfers are typically completed within one business day, while international transfers may take a few days, depending on the recipient’s bank and location.
Step 7: Track the Transfer
After initiating the transfer, you can track its status through your Bank of America online banking account or mobile app. The tracking feature allows you to see when the funds have been sent and when they are expected to arrive at the recipient’s account.
If there are any issues, such as delays or errors, you can contact Bank of America’s customer service for assistance. Having the transfer reference number handy will help expedite the resolution process.
Tips for a Smooth Wire Transfer Experience
- Double-Check All Information: Ensure that all recipient details are accurate before submitting the transfer.
- Be Aware of Fees: Bank of America charges fees for wire transfers. Check their fee schedule to understand the costs involved.
- Understand Exchange Rates: For international transfers, the exchange rate can affect the final amount the recipient receives.
- Plan for Time Zones: If you’re sending money internationally, consider the time difference, as it may impact when the transfer is processed.
Common Questions About Bank of America Wire Transfers
1. How much does a wire transfer cost with Bank of America?
The fees vary depending on whether you’re making a domestic or international transfer. Domestic wire transfers typically cost around $30, while international transfers can range from $35 to $45.
2. How long does it take for a wire transfer to complete?
Domestic wire transfers are usually completed within one business day. International transfers may take 2–5 business days, depending on the destination country.
3. Can I cancel a wire transfer?
If the transfer has not yet been processed, you can cancel it through your online banking account or by contacting customer service. Once the funds are sent, cancellations are not possible.
4. Are there alternatives to wire transfers?
Yes, Bank of America offers other options such as Zelle for domestic payments and international money transfer services for smaller amounts. However, wire transfers remain the fastest option for large sums.
Frequently Asked Questions
Here are some of the related questions people also ask:
How do I initiate a wire transfer with Bank of America?
You can initiate a wire transfer through Bank of America’s online banking platform, mobile app, or by visiting a local branch.
What information do I need for a Bank of America wire transfer?
You need the recipient’s full name, bank account number, routing number (or SWIFT/IBAN for international transfers), and the bank’s address if required.
How much does Bank of America charge for wire transfers?
Domestic wire transfers typically cost $30, while international transfers range from $35 to $45.
How long does a Bank of America wire transfer take?
Domestic transfers are usually completed within one business day, while international transfers may take 2–5 business days.
Can I cancel a Bank of America wire transfer?
Yes, you can cancel a wire transfer if it has not been processed yet by contacting customer service or using online banking.
What is the difference between domestic and international wire transfers?
Domestic transfers occur within the U.S. and use routing numbers, while international transfers require SWIFT codes or IBANs and may involve currency exchange.
Are there daily limits for wire transfers with Bank of America?
Yes, Bank of America may impose daily limits on the amount you can transfer, depending on your account type.
Can I track the status of my wire transfer?
Yes, Bank of America allows you to track your transfer through their online banking platform or mobile app.
What alternatives to wire transfers does Bank of America offer?
Alternatives include Zelle for domestic transfers and international money transfer services for smaller transactions.
The Bottom Line
Knowing how to do a wire transfer with Bank of America is a valuable skill for managing your finances effectively. By understanding the steps involved and the details required, you can complete transfers efficiently and avoid common mistakes. Always double-check the recipient’s information, be mindful of fees, and track your transfers to ensure a smooth experience.
Whether you’re sending money within the United States or across the globe, Bank of America’s wire transfer services provide a reliable solution. With the tools and information in this guide, you can confidently handle your transactions and ensure that your money reaches its intended destination quickly and securely.
For further assistance, Bank of America’s customer service is available to help with any questions or concerns you may have.