What Bank of America charges for wire transfers

Bank of America charges $15 for domestic wire transfers sent through its online banking platform or at a branch. International wire transfers cost $45. These are the standard fees for most customer accounts, though some premium accounts may have different rates or waived fees.

The fee applies whether you initiate the wire yourself or ask a teller to send it. If you use Bank of America's mobile app to send a domestic wire, the fee is the same $15. The bank deducts this fee from your account at the time you send the transfer, so the full amount you specify goes to the recipient — the fee comes out of your account separately.

Bank of America does not charge a fee to receive incoming wire transfers, domestic or international. Only the sender pays.

Key Takeaways

  • Bank of America charges $15 for domestic wires and $45 for international wires, deducted from your account when you send.
  • The fee is the same whether you send online, through the mobile app, or in person at a branch.
  • Receiving a wire transfer at Bank of America is free.
  • Some Bank of America accounts, such as certain premium or business accounts, may have different wire transfer fees or waived fees — check your account terms.
  • The wire transfer fee is separate from any fees your receiving bank may charge on their end.

How the fee compares to other banks

Bank of America's $15 domestic wire fee is in the middle range. Some banks charge $10 to $12 for domestic wires, while others charge $20 to $30. Credit unions often charge less, sometimes $5 to $10. International wire fees vary more widely — $35 to $50 is common, though some banks charge significantly more.

The real cost difference depends on how often you send wires. If you send one or two a year, the $15 fee is a minor expense. If you send wires regularly for business or other reasons, shopping around for a bank with lower wire fees can add up. Some online banks and credit unions offer lower rates, but they may have other trade-offs like fewer branch locations or different account features.

When Bank of America waives the wire transfer fee

Bank of America waives wire transfer fees for certain account types. Preferred Rewards members at the Gold tier and above receive one free domestic wire transfer per month. Platinum and Diamond tier members get unlimited free domestic wires. These are tiered membership levels based on how much money you keep with the bank or how much you borrow.

Some Bank of America business accounts also include wire transfer fee waivers, depending on the account tier. If you have a business checking account, your account agreement will specify whether wires are included. Premium personal accounts like the Premium Money Market account may also include wire benefits, though this varies by account type and can change.

The best way to know if your account includes wire fee waivers is to log into your online banking, call Bank of America at 1-800-432-1000, or ask at your local branch. Your account summary or agreement will list any included services.

Timing and how to send a wire through Bank of America

Bank of America processes domestic wires sent before 2 p.m. Eastern Time on a business day the same day. Wires sent after 2 p.m. or on weekends and holidays are processed the next business day. International wires typically take one to three business days, depending on the receiving country and bank.

To send a wire online, log into your Bank of America account, select "Transfer Money," then choose "Wire Transfer." You will need the recipient's name, account number, routing number (for domestic wires), and bank name. For international wires, you will also need the SWIFT code or IBAN. The system will show you the fee before you confirm.

If you prefer to send in person, visit any Bank of America branch with your ID and the recipient's information. A teller can process it immediately, though the same cutoff times apply for same-day processing. Sending by phone is also an option — call the number on the back of your debit card or check.

What happens if the wire transfer fails or is delayed

If a wire transfer fails because of incorrect recipient information (wrong account number, for example), Bank of America will attempt to recall the funds. The recall process can take several days to weeks, depending on the receiving bank. During this time, the money is in limbo and you cannot access it.

Bank of America does not refund the $15 wire fee if the transfer fails due to incorrect information you provided. However, if the bank makes an error — such as sending the wire to the wrong account when you provided correct information — you should contact the bank immediately and ask for a fee reversal. Document the error in writing and follow up in person or by phone to escalate the issue.

If a wire is delayed beyond the expected timeframe, contact Bank of America's wire transfer department. They can track the wire using the confirmation number you received when you sent it. Delays are usually caused by the receiving bank, not Bank of America, but the bank can help you investigate.

International wire transfer details

The $45 fee covers Bank of America's processing cost, but it does not include fees charged by intermediate banks or the receiving bank. When you send an international wire, the money may pass through one or more correspondent banks before reaching the final destination. Each of these banks may deduct a fee, which reduces the amount the recipient receives.

To minimize fees on international transfers, ask the recipient's bank what their incoming wire fee is and whether they charge a fee to receive funds from the United States. Some banks charge $10 to $25 per incoming international wire. You can also ask if the receiving bank has a preferred correspondent bank that charges lower fees.

Bank of America requires a SWIFT code (also called a BIC code) for most international wires. You can find this on the recipient's bank statement or by asking their bank directly. Some countries also use an IBAN (International Bank Account Number) instead of or in addition to an account number — ask the recipient which one their bank needs.

Alternatives to wire transfers

If the $15 fee is a concern, Bank of America offers other ways to move money. ACH transfers (Automated Clearing House) are free and take one to three business days. You can set up an ACH transfer online to another bank account in your name or to pay a bill. The trade-off is speed — ACH is slower than a wire but costs nothing.

Bank-to-bank transfers between two Bank of America accounts are also free and usually instant. If both you and the recipient have Bank of America accounts, this is the cheapest option. Zelle, a peer-to-peer payment service available through Bank of America's app, is free for transfers up to $5,000 per day, though it requires both parties to be enrolled.

For large international transfers, some people use services like Wise (formerly TransferWise) or OFX, which often charge lower fees than traditional banks for international money movement. These services are not banks, but they specialize in cross-border transfers and may offer better exchange rates and lower fees than Bank of America for certain destinations.

Frequently Asked Questions

Can I get the wire transfer fee back if I change my mind?

No. Once a wire transfer is sent and confirmed, it cannot be cancelled. The $15 fee is non-refundable. If you need to reverse the transfer, you must contact the receiving bank and ask them to return the funds, which they are not required to do. Plan carefully before sending a wire.

Do I pay the wire fee if the transfer is rejected?

Yes. If the wire is rejected because of incorrect information or because the receiving bank will not accept it, Bank of America still charges the $15 fee. The funds are returned to your account, but the fee is kept. Always double-check recipient details before sending.

What is the difference between a wire transfer and an ACH transfer?

A wire transfer is faster (same day for domestic) but costs $15. An ACH transfer is free but takes one to three business days. Use a wire when speed matters; use ACH when you can wait and want to save the fee. ACH is also safer for large amounts because it can be reversed within a certain window.

Does Bank of America charge a fee to receive a wire transfer?

No. Receiving a domestic or international wire at Bank of America is free. Only the sender pays the fee. However, if the wire passes through other banks before reaching you, those banks may deduct their own fees from the amount you receive.

Can I send a wire transfer from a savings account?

Yes. Bank of America allows wire transfers from checking and savings accounts. The fee is the same regardless of account type. You will need to have enough money in the account to cover both the transfer amount and the $15 fee.