Bank of America Wire Transfer Fees and Instructions
At Cheese, it’s our goal to provide you with helpful, useful information that allows you to better navigate your financial life. So, we’ve developed resources that allow you to learn about monthly banking fees and, more specifically, all of the Bank of America banking fees you need to know about in order to avoid paying extra just to use your Bank of America account.
When it comes time to transfer cash to someone else, however, whether they live in the United States or are currently abroad, you’ll definitely need to understand how to navigate BOA online checking and services in order to send the cash. How much are Bank of America’s wire transfer fees and how do you send a wire transfer through BOA? What is the Bank of America address for wire? We’ve got the answers for you.
What Are the Wire Transfer Fees at Bank of America?
To complete this transfer, you usually need the name of the recipient, their bank name, account number, and pickup details. Depending on the banks that both the sender and the recipient use, it’s possible to initiate a wire transfer via the bank itself. Or, it can be done through a third-party money transfer service such as Western Union. And, there are almost always fees involved, both for incoming and outgoing transfers both internationally and domestically.
International Wire Transfer Fees at Bank of America
Like every other major bank, initiating or receiving a Bank of Ameria wire transfer incurs a fee. The BOA international wire transfer fee is:
- BoA incoming foreign wire transfers are $16 per transaction
- BoA outgoing foreign wire transfer sent in foreign currency fees are $35 per transaction
- BoA outgoing foreign wire transfers sent in U.S. Dollar fees are $45 per transaction
Domestic Wire Transfer Fees at Bank of America
Want to make a BOA wire transfer to another account within the United States? It’s possible, and easy, especially if the recipient also has a bank account with Bank of America. The BOA domestic wire transfer fee is:
- Incoming domestic wire transfer fees are $15 per transaction
- Outgoing domestic wire transfer fees are $30 per transaction
However, it’s important to note that you can also transfer money with your Bank of America account by using Zelle, a money transfer app that’s integrated into the BOA online banking system. It’s free for most users (depending on the bank of the recipient) and is a great alternative to a traditional wire transfer. Again, the ability to complete a transfer via Zelle or any other money transfer app depends on the bank of the recipient, how much you’re sending, and where the bank is located.
Wire Transfer Policies and Limits at Bank of America
Are there wire transfer limits at Bank of America? You bet. There are transfer limits with most banks. In general, it depends on the type of account you have. But, ACH transfer limits are currently set to $3,000 per day or $6,000 per month for standard delivery.
If you’ve decided to use Zelle (as mentioned above, it’s integrated into the BOA online banking system for account users), the transfer limit is currently $2,500 per day or $20,000 per month, depending on the bank limits you have for your specific account. There are no limits to how much money you can receive through Zelle.
In terms of policies and other things to know about Bank of America wire transfers, you’ll likely need to know certain information to complete the transfer, such as the bank’s SWIFT code, bank address, and more. Here is some helpful information:
- Bank Name: Bank of America
- Bank of America SWIFT code for incoming wires in US dollars: BOFAUS3N
- Bank of America SWIFT code for incoming wires in foreign currency: BOFAUS6S
- Bank of America address for incoming wires in US dollars:
Bank of America, NA
New York, New York 10038
- Bank of America address for incoming wires in foreign currency:
Bank of America, NA
555 California St
San Francisco, CA 94104
Some wire transfers might ask for an IBAN, which is a set of numbers that create a code for transfer in Europe. The US doesn’t currently participate in IBAN, which means no American bank will provide you with an IBAN code. If you’re transferring money to an account in Europe that does use IBAN, you can usually find it by visiting their website or asking the recipient for the number.
Routing numbers and the beneficiary BOA account number can all be found by accessing your BOA bank account online. Here is a helpful guide on how to find your ABA and routing number with BOA.
How to Send Wire Transfers Through Bank of America
How to Send BOA Wire Transfers Online
If you are going to initiate a wire transfer online through Bank of America, you simply need to first log in to Bank of America Online Banking. At the top of the screen that follows, you’ll have to select the table that says “Send Money” and then choose whether it’s going to your own account, another account, or a business.
How to Send BOA Wire Transfers Offline
It’s possible to initiate a BOA wire transfer offline. All you have to do is head to your nearest Bank of America branch with the information and cash in hand. To initiate a transfer with BOA, you have to have an Bank of America account. So, unless you have cash from someone else, you might not even need to bring the physical money with you because it’ll already be in your account.
Contact BOA customer service to find out the bank’s operating hours and to potentially set up an appointment to avoid waiting in line.
Sign Up for a Debit Card with No Wire Transfer Fees
At Cheese, we’re dedicated to ensuring that our users pay $0 in monthly fees while enjoying other zero-fee perks such as no overdraft fees, no international wire fees, and no minimum balance fee. Larger international banks such as Bank of America aren’t usually able to offer the same level of fee-free assistance.
Interested in a fee-free card that comes with $0 in monthly fees and $0 in incoming international wire frees? Sign up today to receive your Cheese Debit Card that comes loaded with other perks such as savings opportunities.
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