How to Wire Money from Bank of America: Your Comprehensive Step-by-Step Guide
Ever needed to send money quickly and securely, whether it's for a down payment on a new home, an urgent medical bill for a loved one abroad, or to settle a business invoice? If you're a Bank of America customer, a wire transfer is often the answer. It's a reliable method for moving funds directly from your account to another, typically with guaranteed delivery within a specific timeframe. But navigating the process can sometimes feel like solving a puzzle. Don't worry, we're here to break it down for you!
Step 1: Gather Your Intel – The Recipient's Critical Information
Before you even think about logging into your Bank of America account or heading to a branch, the absolute first thing you need to do is gather all the necessary details about the recipient and their bank. Think of yourself as a financial detective – missing even one piece of information can delay or even reject your transfer.
- Recipient's Full Legal Name and Address: This should match the name on their bank account exactly.
- Recipient's Bank Name and Address: The full legal name of their bank and its physical address.
- Recipient's Account Number: This is crucial for direct deposit.
- Recipient's Account Type: Is it a checking or savings account?
- Recipient's Bank's Routing Number (for Domestic Wires): This is a 9-digit code unique to U.S. banks. You can usually find it on a check or by asking the recipient.
- Recipient's Bank's SWIFT/BIC Code (for International Wires): This is a unique international bank identifier code (8 or 11 characters long). If you're sending money overseas, this is non-negotiable.
- IBAN (International Bank Account Number) (for International Wires to certain countries): Some countries in Europe and other regions use an IBAN, which is an alphanumeric string that includes the country code, bank identifier, and account number. If applicable, this will be provided by the recipient.
- Purpose of the Transfer: Banks often require a reason for the transfer, especially for international wires, due to regulatory compliance. Be prepared to state the purpose (e.g., family support, gift, payment for services).
- Currency: For international wires, confirm whether the recipient wishes to receive funds in U.S. Dollars (USD) or their local currency. This can impact fees and exchange rates.
Pro-Tip: Always double-check and triple-check this information with the recipient. A single digit error can send your money to the wrong place, and it can be a significant headache to retrieve it.
Step 2: Choose Your Method – Online, Mobile, or In-Person
Tip: Break it down — section by section.
Bank of America offers a few convenient ways to initiate a wire transfer. Your choice might depend on the amount you're sending, your comfort level with digital banking, or simply your preference.
- Online Banking: This is often the most convenient option for many users. You can initiate domestic and international wires from the comfort of your home.
- Mobile Banking App: Similar to online banking, the mobile app provides a streamlined way to send wires on the go.
- At a Bank of America Financial Center (Branch): For larger amounts, complex transfers, or if you simply prefer in-person assistance, visiting a branch is a viable option. You'll likely need to bring a valid ID.
Step 3: Initiating the Wire Transfer
Let's walk through the steps for each method:
Method 1: Sending a Wire Transfer Online (Recommended for ease)
- Log In: Go to the Bank of America website (
www.bankofamerica.com - Navigate to Transfers: Once logged in, look for a "Pay & Transfer" or "Transfers" tab/menu option.
- Select Wire/ACH: Within the transfer options, you'll typically find a "Wire/ACH" or "Send a Wire" choice. Click on it.
- Enroll in Secured Transfer (if applicable): If it's your first time sending a wire online, Bank of America may require you to enroll in their "Secured Transfer" service. This usually involves verifying your identity with a U.S. mobile number or a USB security key and your debit card number and PIN. This is an important security measure.
- Add New Recipient or Select Existing:
- New Recipient: If you're sending money to someone for the first time, you'll need to "Add Account/Recipient."
- Domestic Wires: Select "Domestic (U.S.)" and the account type. Enter the recipient's full name, address, wire routing number (ABA), account number, and account type.
- International Wires: Select the recipient's country. You'll then be prompted for details like the recipient's bank name, address, SWIFT/BIC code, account number, and potentially an IBAN. You'll also specify the currency.
- Existing Recipient: If you've sent money to this person before, you can simply select them from your list of saved recipients.
- New Recipient: If you're sending money to someone for the first time, you'll need to "Add Account/Recipient."
- Enter Transfer Details:
- "From" Account: Choose the Bank of America account you wish to wire funds from.
- Amount: Enter the exact amount you wish to send.
- Frequency and Date: Typically, wire transfers are one-time "Same business day" payments.
- Description/Purpose: Add an optional description for your records and/or the required purpose of the transfer for the recipient's bank.
- Review and Confirm: Carefully review all the information you've entered. This is your last chance to catch any errors! Bank of America will likely display any applicable fees and exchange rates (for international transfers) at this stage.
- Authorize the Transfer: You may be prompted to enter an authorization code sent to your mobile phone (via Secured Transfer) or other security verification.
- Submit: Once authorized, click "Make Transfer" or "Submit."
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| How Wire Money From Bank Of America |
Method 2: Sending a Wire Transfer via the Mobile Banking App
The steps are very similar to online banking.
- Open the App: Launch the Bank of America Mobile Banking app on your smartphone or tablet.
- Log In: Enter your credentials.
- Tap "Pay & Transfer": This is usually found at the bottom or top of the screen.
- Tap "Wire": Select the option to send a wire transfer.
- Select Account and Start Wire: Choose the account you want to send from and tap "Start a wire."
- Add New Recipient or Select Existing: Follow the same process as online banking for adding or selecting a recipient, providing all the necessary bank details.
- Enter Amount and Details: Input the transfer amount, confirm currency (for international), and provide the purpose of the transfer.
- Review and Confirm: Double-check all details, including fees and exchange rates.
- Authorize and Submit: Complete any required security verification and tap to submit the transfer.
Method 3: Sending a Wire Transfer at a Financial Center (Branch Visit)
- Locate a Branch: Use the Bank of America website or app to find a financial center near you.
- Gather Documents: Bring a valid government-issued ID (driver's license, passport), your Bank of America debit card (if you have one), and all the recipient's bank and personal information you collected in Step 1.
- Speak to a Teller or Banking Specialist: Inform them you wish to send a wire transfer.
- Fill Out the Wire Transfer Request Form: The bank representative will provide you with a form. Carefully fill in all the recipient's details, the amount, and the purpose of the transfer. Do not rush this step.
- Verify Identity and Sign: The teller will verify your identity and have you sign the form.
- Pay Fees: The wire transfer fee will be deducted from your account.
- Receive Confirmation: You'll receive a confirmation or receipt with a tracking number. Keep this for your records.
Step 4: Understand Fees and Limits
QuickTip: Pay close attention to transitions.
Wire transfers, while fast and secure, do come with fees. It's crucial to be aware of these so there are no surprises.
- Domestic Outgoing Wire Transfer Fee: Typically, Bank of America charges a fee for sending domestic wires (e.g., $30).
- International Outgoing Wire Transfer Fees:
- In Foreign Currency: There may be no direct wire transfer fee from Bank of America, but the exchange rate will include a markup.
- In U.S. Dollars: A higher fee usually applies (e.g., $45).
- Receiving Wire Transfer Fee: The recipient's bank may also charge a fee for receiving the wire.
- Exchange Rate Markups: For international transfers, the exchange rate offered by Bank of America will likely include a markup, which is an additional cost on top of the mid-market rate.
- Transfer Limits:
- Online/Mobile International Wires: Can be as low as $1,000 per transaction.
- In-branch International Wires: Limits may be higher and can vary by account type.
- Domestic Wires: Limits can also vary. Bank of America Private Bank customers may have no daily or rolling dollar limits for domestic wires.
Important Note: Fees and limits can change, and they can also vary based on your account type (e.g., Preferred Rewards, Private Bank). Always confirm the latest fees and limits directly with Bank of America before initiating a transfer.
Step 5: Track Your Transfer (Optional but Recommended)
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While wire transfers are typically fast, it's good practice to monitor their status, especially for international transfers.
- Online Banking/Mobile App: After submitting, you can usually view the status of your transfer in the "Activity" or "Wire Activity" section of your online banking or mobile app.
- Reference Number: You will be provided with a reference number or confirmation number. This is vital if you need to inquire about the status with Bank of America customer service.
- Typical Processing Times:
- Domestic Wires: Generally arrive within 1-2 business days, often on the same day if sent before the cut-off time (typically 5:00 PM ET).
- International Wires: Can take 2-3 business days to process.
Cut-off Times: Wire transfer requests typically have a daily cut-off time (e.g., 5:00 PM Eastern Time). If you initiate a transfer after this time, it will usually be processed on the next business day.
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10 Related FAQ Questions
How to get the recipient's bank information for a wire transfer?
You need to directly ask the recipient for their full legal name, address, bank name, bank address, account number, account type, and either their bank's routing number (for domestic) or SWIFT/BIC code and possibly IBAN (for international).
How to find my Bank of America routing number for wire transfers?
The Bank of America routing number for wire transfers is generally 026009593 for most states. However, it's always best to verify this on the Bank of America website or by contacting their customer service, as some routing numbers can differ for other types of electronic payments.
How to know the wire transfer limits at Bank of America?
Wire transfer limits at Bank of America vary by account type and whether the transfer is domestic or international, and if it's initiated online/mobile or in a branch. Online international wire limits can be as low as $1,000 per transaction. You can check your specific limits within your online banking or by contacting Bank of America directly.
How to track a wire transfer sent from Bank of America?
You can usually track the status of your wire transfer by logging into your Bank of America Online Banking or Mobile App and navigating to the "Activity" or "Wire Activity" section. You'll need the reference number provided at the time of initiation.
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How to cancel a wire transfer with Bank of America?
Canceling a wire transfer can be difficult once it's been sent. If you need to cancel, contact Bank of America customer service immediately at 877-337-8357 (or 302-781-6374 from outside the U.S.) or visit a financial center as soon as possible. The sooner you act, the higher the chance of successful cancellation.
How to ensure a wire transfer reaches the correct recipient?
The most critical step is to meticulously verify all recipient bank details (name, account number, routing/SWIFT code, address) with the recipient before initiating the transfer. Any small error can lead to delays or the money being sent to the wrong account.
How to avoid wire transfer scams?
Always be suspicious of unsolicited requests for wire transfers, especially if they involve urgency or pressure. Never wire money to someone you don't know well or whose identity you haven't independently verified. Bank of America and other legitimate institutions will never ask you to ignore fraud warnings.
How to get an international wire transfer into my Bank of America account?
To receive an international wire transfer, you'll need to provide the sender with: your full name as it appears on your account, your Bank of America account number, Bank of America's SWIFT code (BOFAUS3N for USD or unknown currency, BOFAUS6S for foreign currency), and Bank of America's address (222 Broadway, New York, NY 10038).
How to find Bank of America's SWIFT code?
The primary SWIFT/BIC code for Bank of America for international transfers is BOFAUS3N (for USD or unknown currency) and BOFAUS6S (for foreign currency). You can also find this information on the Bank of America website or by contacting them.
How to get help with a wire transfer issue from Bank of America?
For any issues or questions regarding a wire transfer, you can contact Bank of America customer service at 877-337-8357 (or 302-781-6374 from outside the U.S.) or visit your nearest Bank of America financial center.
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