Thinking about sending money, whether it's to a family member across the country or a business partner overseas? Wire transfers are often the go-to method for speed and security, especially when dealing with larger sums. Bank of America, being one of the largest financial institutions, offers robust options for both domestic and international wire transfers. This comprehensive guide will walk you through every step, ensuring your money reaches its destination smoothly and securely.
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Before you even think about logging into your Bank of America account or heading to a branch, the most crucial first step is gathering all the necessary information. Without accurate details, your wire transfer could be delayed, returned, or even worse, sent to the wrong recipient. So, take a deep breath, grab a pen and paper (or open a digital note), and let's make sure you have everything you need.
Step 1: Gather Your Information (The Absolute Must-Haves)
This is where many people get stuck, so let's break it down clearly. The information required differs slightly for domestic (within the U.S.) and international wire transfers.
For Domestic Wire Transfers (within the U.S.):
- Recipient's Full Name: Exactly as it appears on their bank account.
- Recipient's Physical Address: Full street address, city, state, and zip code.
- Recipient's Bank Name: The full legal name of their bank (e.g., "Wells Fargo Bank, N.A.").
- Recipient's Bank Wire Routing Number (ABA Routing Number): This is a 9-digit code specific to their bank for wire transfers. It's crucial to get the wire routing number, not necessarily the one on their checks, as these can sometimes differ for wire transfers. Your recipient should be able to provide this directly from their bank.
- Recipient's Bank Account Number: The full account number where the funds will be deposited.
- Account Type: (e.g., checking, savings).
For International Wire Transfers:
International wires are a bit more complex due to global banking standards.
- Recipient's Full Name: Exactly as it appears on their bank account.
- Recipient's Full Physical Address: Including street, city, postal code, and country.
- Recipient's Bank Name: The full legal name of their bank.
- Recipient's Bank Address: The full physical address of the recipient's bank branch.
- Recipient's Account Identifier: This could be:
- Account Number: The standard account number.
- IBAN (International Bank Account Number): Many European countries and others use IBANs. This is an alphanumeric code that uniquely identifies a bank account. If sending to a country that uses IBANs, this is absolutely essential.
- CLABE (Clave Bancaria Estandarizada): Used in Mexico.
- Recipient's Bank Swift Code (SWIFT/BIC): This is an 8 or 11-character code that identifies the recipient's bank and country. It's the international equivalent of a routing number.
- Currency of the Recipient's Account: (e.g., USD, EUR, INR, GBP). It's generally recommended to send in the local currency of the recipient's account to avoid additional conversion fees on their end, although Bank of America allows sending in USD internationally.
- Purpose of the Wire: Many countries and banks require you to state the reason for the transfer (e.g., "Family Support," "Payment for Services," "Gift").
- Any Special Instructions: Some countries or banks may have additional requirements or preferred methods for receiving funds. Your recipient should confirm this with their bank.
Pro Tip: Always ask your recipient to confirm all these details directly with their bank to avoid any errors. A slight typo can cause significant delays or even loss of funds.
Step 2: Choose Your Method of Transfer
Bank of America offers a few convenient ways to initiate a wire transfer.
Option A: Online Banking (Recommended for Convenience)
This is often the quickest and easiest way for personal accounts.
- Log In: Go to the official Bank of America website (
bankofamerica.com - Navigate to "Pay & Transfer": Once logged in, look for a section or tab labeled "Pay & Transfer."
- Select "Wire" or "Send a Wire Transfer": Within "Pay & Transfer," you should find an option specifically for "Wire" or "Send a Wire Transfer."
- Choose Transfer Type: You'll be prompted to select whether you're sending a Domestic or International wire. Choose the appropriate option.
- Add New Recipient (if applicable):
- If you're sending to someone for the first time, you'll need to add them as a new recipient. Follow the on-screen prompts, carefully entering all the information you gathered in Step 1.
- For international transfers, you'll likely choose the recipient's country and then enter the required account details (IBAN, SWIFT, etc.).
- Select Existing Recipient (if applicable): If you've wired money to this person or entity before, their information should be saved. Simply select them from your list of existing recipients.
- Enter Amount and Currency: Input the amount of money you wish to send. If it's an international transfer, you'll also select the currency. Be aware that sending international wires in USD may incur a higher fee than sending in foreign currency. Bank of America's exchange rates will apply for foreign currency transfers, and markups are included.
- Review Fees and Limits: Before confirming, Bank of America will display any applicable fees and may show your daily/transaction limits.
- Domestic Outgoing Wire Fee: Typically around $30.
- International Outgoing Wire Fee (in USD): Typically around $45.
- International Outgoing Wire Fee (in Foreign Currency): No outbound wire transfer fee, but exchange rate markups apply.
- Preferred Rewards members may receive waivers on some wire transfer fees.
- Confirm and Authorize: Double-check all the details one last time. This is your last chance to catch any errors. You may be required to confirm your identity using a security measure like SafePass (a code sent via text to your registered mobile number) for transfers over a certain amount (e.g., $1,000).
- Submit: Once confirmed, submit your wire transfer request. You'll receive a confirmation number and typically an email confirmation.
Option B: Mobile Banking App
The Bank of America Mobile Banking app offers a very similar, streamlined experience to online banking.
- Log In: Open the Bank of America Mobile Banking app on your smartphone or tablet and log in.
- Navigate to "Pay & Transfer": Tap on the "Pay & Transfer" section.
- Tap "Wire": Select the "Wire" option.
- Follow On-Screen Prompts: The process is virtually identical to online banking from here. You'll choose domestic or international, add/select a recipient, enter the amount, review fees, and confirm.
Option C: In-Person at a Financial Center
If you prefer a face-to-face interaction or need to send a particularly large amount (which may have higher limits in-branch), you can visit a Bank of America financial center.
- Gather Information: Ensure you have all the necessary recipient details as outlined in Step 1. It's wise to write them down clearly to avoid any miscommunication.
- Visit a Branch: Locate your nearest Bank of America financial center.
- Speak with a Teller/Specialist: Inform them you wish to send a wire transfer. They will provide you with a wire transfer form to fill out.
- Provide Details: Carefully fill in all the recipient's information on the form.
- Present ID and Funds: You will need to show a valid government-issued ID (like a driver's license or passport) and ensure you have sufficient funds in your account to cover the transfer amount and associated fees.
- Review and Sign: The teller will review the information with you. Pay close attention to ensure everything is accurate before you sign the form.
- Receive Confirmation: Once processed, you'll receive a confirmation receipt.
Option D: Over the Phone
For some wire transfer inquiries or specific situations, you can also contact Bank of America's customer service.
- Call Customer Service: Dial 877-337-8357 (or 302-781-6374 if calling from outside the U.S.).
- Follow Prompts: Be prepared to navigate the automated system to reach the wire transfer or funds transfer department.
- Provide Details and Authorize: A representative will guide you through the process, verifying your identity and collecting the recipient's information. You'll need to verbally confirm the details and authorize the transfer.
Step 3: Understanding Cutoff Times and Processing
Wire transfers are known for their speed, but there are important cutoff times to be aware of for same-day processing.
- Cutoff Time: For both domestic and international wire transfers, the typical cutoff time at Bank of America is 5:00 p.m. Eastern Time (ET) on a business day.
- Processing Time:
- Domestic Wires: Generally arrive the same business day if initiated before the cutoff time.
- International Wires: Typically take 1 to 5 business days to arrive, depending on the recipient's country, currency selected, and the processing time of the receiving bank.
Important Note: Wires initiated after the cutoff time will typically be processed on the next business day. Business days generally exclude weekends and federal holidays.
Step 4: Tracking Your Wire Transfer
While you generally can't "track" a wire transfer in real-time like a package, Bank of America does provide ways to monitor its status.
- Online Banking/Mobile App: After sending a wire, you can usually view its status in your "Activity" or "Transfers" section within Online Banking or the Mobile App.
- Confirmation: You will receive a confirmation number at the time of submission, which can be useful if you need to inquire about the transfer later.
- Contact Customer Service: If you have concerns about a delayed wire or need more detailed information, you can contact Bank of America customer service with your confirmation number.
Step 5: Post-Transfer Considerations
- Notify Recipient: It's a good practice to inform your recipient that you've sent the wire transfer, providing them with the amount and approximate arrival time. This helps them anticipate the funds.
- Keep Records: Retain your wire transfer confirmation and any related documentation for your records. This is important for financial tracking and in case any issues arise.
- Beware of Scams: Wire transfers are irreversible once processed. Be extremely cautious of unsolicited requests for wire transfers, especially from unknown individuals or for large sums. Always verify the recipient's identity and the legitimacy of the request independently before sending money.
10 Related FAQ Questions
Here are some common questions about wiring money with Bank of America, with quick answers:
How to find Bank of America's wire routing number for domestic transfers?
The wire routing number for Bank of America domestic wire transfers is 026009593. This is for sending to a Bank of America account.
How to find Bank of America's SWIFT/BIC code for international transfers?
For incoming international wires in USD, use SWIFT code BOFAUS3N. For non-USD payments, it might be BOFAUS6S, but BOFAUS3N is the most commonly cited for general international transfers. Always confirm with the recipient if they have specific instructions.
How to send money internationally in a foreign currency with Bank of America?
You can choose to send international wires in over 140 currencies through the Mobile Banking app or Online Banking. When initiating the transfer, you'll select the foreign currency option.
How to cancel a wire transfer with Bank of America?
Domestic wire transfers are generally processed immediately and cannot be canceled. International wire transfers initiated from consumer accounts may show as "Scheduled" on the Activity screen and can sometimes be canceled within 30 minutes of submission. After 30 minutes, they are typically processing and cannot be canceled. Wires from small business accounts are often immediately submitted and cannot be canceled.
How to track the status of a Bank of America wire transfer?
You can usually view the status of your outgoing wire transfer in the "Activity" or "Transfers" section of your Bank of America Online Banking or Mobile Banking app.
How to receive an incoming wire transfer to your Bank of America account?
You'll need to provide the sender with your full name, your Bank of America account number, and Bank of America's wire routing number (026009593 for domestic) or SWIFT code (BOFAUS3N for international).
How to check wire transfer limits with Bank of America?
Your specific wire transfer limits (daily, weekly, monthly, and per transaction) can be viewed within the Bank of America Online Banking or Mobile Banking app when you initiate a wire transfer. Limits can vary by account type.
How to get a waiver on Bank of America wire transfer fees?
Bank of America Preferred Rewards members may be eligible for waivers on wire transfer fees. Check your Preferred Rewards tier benefits or contact customer service for details.
How to ensure a smooth wire transfer process?
Double-check all recipient details (name, address, account number, routing/SWIFT code) before submitting. Confirm the correct currency and purpose of the transfer, and send it before the daily cutoff time for timely processing.
How to contact Bank of America customer service for wire transfer assistance?
You can call Bank of America customer service at 877-337-8357. If you're outside the U.S., you can call collect at 302-781-6374. You can also visit a local financial center for in-person assistance.
