How To Wire Money From Bank Of America
Bank of America offers a convenient and secure way to make international wire transfers from your checking or savings account. Whether you need to send money to a family member abroad or make a business transaction, Bank of America’s global money transfer service can help you get the funds to the recipient quickly and efficiently. Here’s a guide on how to wire money from Bank of America and some important considerations to keep in mind.
Global Transfers Made Easy
Bank of America allows you to make international wire transfers directly from your account. You can log in to your online banking account to initiate the transfer, and the funds generally arrive at the recipient’s bank within 1 to 2 business days. This service is available for over 200 countries in more than 140 currencies, making it a versatile option for your international money transfer needs.
Sending a Wire Securely
When sending an international wire, it’s essential to have all the correct recipient bank details. This includes the recipient bank’s name, address, country, routing code, account number, SWIFT code, National ID, or IBAN number. Bank of America’s online banking platform provides a secure and convenient way to enter these details and initiate the transfer. You can choose to send the wire in foreign currency or U.S. dollars, depending on the recipient’s account and your preferences.
Wire Transfer Fees
Bank of America charges a fee for outbound domestic and international wire transfers. The fee for outbound domestic wire transfers is $30, while the fee for outbound international wire transfers sent in foreign currency is $0. If you choose to send an outbound international wire in U.S. dollars, the fee is $45. It’s important to consider these fees when planning your wire transfer to ensure that you have a clear understanding of the total cost involved.
Quick Tips for Wire Transfers
Bank of America provides some quick tips for initiating wire transfers. It’s crucial to verify your wire instructions with the recipient, enter and review your wire details accurately, and monitor the wire’s status to ensure a smooth transfer process. Additionally, Bank of America offers the option to resend wires from your online wire history using the copy feature, providing added convenience for repeat transfers.
Frequently Asked Questions
Q: What type of wire transfers can be submitted from the Bank of America website?
A: Bank of America’s online platform supports both domestic and international wire transfers, providing a comprehensive solution for your money transfer needs.
Q: What information is required to complete an international wire transfer through Bank of America?
A: To complete an international wire transfer online, you’ll need the recipient bank’s name, address, country, routing code, account number, SWIFT code, National ID, or IBAN number, along with the purpose for the transfer.
Q: How long does it take for international wires to arrive at the recipient bank?
A: International wires generally arrive at the recipient bank in 1 to 2 business days if sent by 5 p.m. ET, providing a relatively quick transfer timeline for your international transactions.
Q: Can I save my wire instructions for future use on Bank of America’s online platform?
A: Yes, Bank of America’s online banking system automatically saves each set of unique instructions from your wire history, allowing for easy reuse and efficient management of wire transfers.
Q: Where can I find my wire’s final reference number after the transfer is completed?
A: Bank of America will email you the final reference number once your wire has processed. Additionally, you can refer to the Wire activity page on the online banking platform for this information.
Q: Can I view wire transfers that were submitted on my behalf by Bank of America?
A: Bank of America’s online platform will only reflect self-serve wire transfers initiated by you, providing transparency and control over your wire transfer activities.
Bank of America’s international wire transfer service offers a seamless and reliable way to send money globally. With clear fee structures, secure online banking features, and quick transfer timelines, Bank of America provides a comprehensive solution for your international money transfer needs.