Bank of America's overseas wire transfer options
Bank of America offers two main ways to send money outside the United States: international wire transfers through their standard wire service, and transfers through their partnership with MoneyGram for certain destinations. The method you use depends on where you're sending money, how much you're sending, and how quickly you need it to arrive.
International wires through Bank of America go through the SWIFT network, which connects banks worldwide. You'll need the recipient's bank details — their account number, routing number or SWIFT code, and the bank's full address. Bank of America charges a flat fee for outgoing international wires, though the exact amount varies by account type and destination country.
For some countries and smaller amounts, Bank of America customers can also use MoneyGram, which delivers cash to a pickup location rather than depositing directly into a bank account. This option is faster for certain corridors but typically costs more per transaction.
Key Takeaways
- Bank of America international wires require the recipient's SWIFT code, account number, and bank address, and typically take three to five business days to arrive.
- Wire fees vary by account type and destination; checking your account terms or calling before sending tells you the exact cost.
- Exchange rates applied to international transfers are set by Bank of America and may differ from the mid-market rate you see online.
- MoneyGram transfers through Bank of America reach cash pickup locations in select countries within hours, but carry higher per-transaction fees.
- You can initiate wires online, through the mobile app, or by visiting a branch, but some destinations or amounts may require a phone call or in-person visit.
What information you need before sending a wire
The recipient's bank must provide you with specific details for the wire to reach the correct account. Ask them for their account number, the bank's SWIFT code (an eight or eleven-character code that identifies their bank internationally), and the full name and address of the bank. Some countries also require an IBAN (International Bank Account Number) instead of or in addition to the account number.
You'll also need to know the exact amount in US dollars that you want to send. Bank of America will convert this to the recipient's local currency at their exchange rate, which includes a markup over the mid-market rate. The recipient will receive the converted amount minus any fees their own bank charges to receive the wire.
Double-check all details with the recipient before submitting the wire. A mistake in the account number or SWIFT code can send money to the wrong account, and recovering it is difficult and time-consuming.
How to send an international wire through Bank of America
You can start a wire online through your Bank of America account, through the mobile app, or by calling customer service at the number on the back of your debit card. For amounts over a certain threshold or to certain countries, Bank of America may require you to visit a branch in person or complete additional verification by phone.
Online, log into your account, select "Transfer Money," then choose "Send Money Internationally." Enter the recipient's bank details, the amount, and your reason for the transfer (Bank of America asks this for compliance purposes). Review the fee and exchange rate, then confirm. The wire is typically submitted the same business day if you send it before the bank's cutoff time, usually around 2 p.m. Eastern time on weekdays.
If you use the mobile app, the process is similar but may have lower limits on the amount you can send in a single transaction. For very large amounts or if you're sending to a country Bank of America doesn't regularly handle, calling ahead or visiting a branch ensures the wire can be processed without delays.
Fees and exchange rates
Bank of America charges an outgoing international wire fee that varies by account type. Checking accounts typically pay a flat fee per wire, while some premium accounts may have reduced or waived fees. The fee is deducted from your account when the wire is sent, separate from the amount the recipient receives.
The exchange rate Bank of America applies to your transfer includes a margin above the mid-market rate — the rate you see quoted on financial news sites. This margin is how the bank makes money on currency conversion. The exact margin varies by currency pair and market conditions, and Bank of America does not publish a fixed percentage. You'll see the rate and total cost before you confirm the wire, so you can decide whether to proceed.
If you're sending a large amount, calling Bank of America's international services line may allow you to negotiate or learn whether a better rate is available for that specific transaction. Smaller transfers rarely have negotiable rates.
How long the wire takes to arrive
A standard international wire from Bank of America typically takes three to five business days to reach the recipient's account. The time depends on the destination country, the recipient's bank, and whether the wire passes through intermediary banks. Some countries have faster corridors; others are slower.
Weekends and holidays in either the United States or the destination country add to the timeline. A wire sent on Friday afternoon may not begin processing until Monday, and if a holiday falls during the transfer window, it adds another day.
Bank of America does not offer expedited international wires through their standard wire service. If you need money to arrive faster, MoneyGram cash pickup is the alternative, though it works only to certain countries and the recipient must pick up the cash in person at a MoneyGram location.
Using MoneyGram for faster transfers to select countries
Bank of America customers can send money through MoneyGram to over 200 countries and territories. Instead of depositing into a bank account, the recipient picks up cash at a MoneyGram agent location — typically a convenience store, supermarket, or dedicated money transfer office. Transfers typically arrive within minutes to a few hours, depending on the destination.
MoneyGram transfers through Bank of America are initiated online or through the mobile app, similar to a wire, but the fee is higher and the amount limits are lower. You'll see the MoneyGram fee and exchange rate before confirming. The recipient needs a valid ID to pick up the cash and must know the reference number you receive after sending.
MoneyGram works well for sending money to family members in countries where banking infrastructure is less developed or where the recipient doesn't have a bank account. It's not suitable for paying bills or sending money directly to a business account.
What to do if a wire goes wrong
If a wire doesn't arrive within the expected timeframe, contact Bank of America's international services department with your wire reference number. They can trace the wire through the SWIFT network and determine where it is in the process. If the wire was sent to the wrong account due to incorrect details, recovery is possible but can take weeks and may not be successful.
If you realize you made an error immediately after sending, call Bank of America right away. Wires sent before the daily cutoff time can sometimes be recalled before they leave the bank. Once the wire has been sent to the recipient's bank, recalling it becomes much harder and depends on the cooperation of the receiving bank.
Bank of America's customer service can also help if the recipient's bank rejected the wire or if fees were higher than expected. Keep your wire confirmation number and all correspondence about the transfer in case you need to dispute the transaction later.
Frequently Asked Questions
Can I send money to any country with Bank of America?
Bank of America sends wires to most countries, but some destinations have restrictions due to US sanctions or banking regulations. Before sending, confirm with the bank that they can wire to your recipient's country. MoneyGram through Bank of America covers over 200 destinations but not all countries.
What's the difference between a SWIFT code and a routing number?
A routing number identifies a US bank; a SWIFT code identifies a bank internationally. For overseas wires, you need the recipient's SWIFT code, not a US routing number. The recipient's bank provides their SWIFT code on statements or through their website.
Why is the exchange rate I see different from what Bank of America quoted?
The mid-market rate you see online is the rate between banks; Bank of America's rate includes a margin for the bank's service. This margin is standard across the industry. You can compare Bank of America's rate to other banks' rates before sending if you want to shop around.
Can I cancel a wire after I've sent it?
If you cancel before the daily cutoff time, Bank of America may be able to stop the wire. After it's been sent to the recipient's bank, cancellation is difficult and depends on the receiving bank's cooperation. Call immediately if you need to cancel.
Does the recipient pay fees to receive the wire?
The recipient's bank may charge a fee to receive an incoming international wire. This fee is deducted from the amount they receive, so the final amount in their account is less than what you sent. Ask the recipient's bank about incoming wire fees before sending.