Bank of America charges for most wire transfers, but the fee depends on whether you send money domestically or internationally

Bank of America charges $15 for domestic wire transfers (money sent within the United States) and $45 for international wire transfers (money sent outside the US). These are the standard fees for customers using online banking, phone, or in-person at a branch. The fee is deducted from your account when you initiate the transfer, not added on top of the amount you send.

Some Bank of America accounts waive these fees entirely. If you hold a Preferred Rewards membership or certain premium checking accounts, wire transfer fees may be reduced or eliminated. The specifics depend on your account tier and membership level, so checking your account terms or calling customer service at 1-800-432-1000 will tell you whether your account qualifies for a waiver.

Key Takeaways

  • Domestic wire transfers cost $15 and international wire transfers cost $45 at Bank of America, charged when you send the money.
  • Preferred Rewards members and holders of certain premium accounts may have fees reduced or waived entirely.
  • Wire transfers typically complete within one business day for domestic transfers and two to four business days for international transfers.
  • You can initiate a wire transfer online, by phone, or in person at a branch, and the fee is the same regardless of method.
  • Once a wire transfer is sent, it cannot be recalled or reversed, so verify the recipient's account details before confirming.

When Bank of America waives wire transfer fees

Bank of America's Preferred Rewards program offers fee waivers based on your membership level. If you maintain a combined balance of $20,000 or more across Bank of America and Merrill accounts, you may have access to for Silver tier, which waives domestic wire transfer fees. Gold tier (combined balance of $50,000 or more) and Platinum tier (combined balance of $100,000 or more) also waive both domestic and international wire transfer fees.

Certain premium checking accounts, such as the Bank of America Premium Rewards account, may also include wire transfer fee waivers as part of their account benefits. The terms vary by account type, so review your account agreement or contact Bank of America directly to confirm whether your specific account includes this benefit.

How long a wire transfer takes

Domestic wire transfers sent before the cutoff time (usually 2 p.m. Eastern Time on business days) typically arrive the same business day. If you send a wire after the cutoff or on a weekend or holiday, it will process on the next business day.

International wire transfers take longer because they move through multiple banking networks. Most international wires take two to four business days to reach the recipient's account, depending on the destination country and the receiving bank's processing speed. Some countries with less developed banking infrastructure may take longer. Bank of America cannot control the speed once the wire leaves the US banking system.

What information you need to send a wire transfer

For a domestic wire transfer, you need the recipient's full name, account number, and the routing number of their bank. The routing number is a nine-digit code that identifies the specific bank branch where the recipient holds their account.

For an international wire transfer, you need additional information: the recipient's full name, account number, the name and address of their bank, and the bank's SWIFT code (a code that identifies banks in the international banking system). Some countries also require an IBAN (International Bank Account Number) instead of or in addition to the account number. If you are unsure what information to provide, ask the recipient to confirm their banking details in writing before you initiate the transfer.

Wire transfers cannot be reversed once sent

Once Bank of America processes and sends a wire transfer, you cannot cancel it or get the money back through normal channels. The funds leave your account when ready and are sent to the recipient's bank. If you realize you made a mistake—such as sending money to the wrong account number—you must contact Bank of America right away, but recovery is not may provide.

Bank of America can attempt to recall a wire transfer, but success depends on whether the receiving bank has already released the funds to the recipient. If the recipient's bank has already credited the money to their account, the recall will fail. This is why verifying the recipient's account details before you send is critical. Scammers often exploit this by convincing people to wire money to fraudulent accounts, knowing the transfer cannot be undone.

Incoming wire transfers and receiving fees

Bank of America does not charge you a fee to receive a domestic wire transfer. The money arrives in your account at no cost to you. However, some banks charge the receiving bank a small fee for processing incoming wires, which Bank of America absorbs rather than passing on to you.

International wire transfers you receive may incur fees depending on the sending bank and the path the money takes through the banking system. Bank of America typically charges $15 to receive an international wire transfer, though this fee is sometimes waived for premium account holders. The sending bank may also deduct a fee from the amount before it reaches you, so the full amount sent may not arrive in your account.

Alternatives to wire transfers at Bank of America

If you want to avoid wire transfer fees, Bank of America offers other ways to move money. Zelle is a free peer-to-peer transfer service that moves money between individuals in minutes, but it is limited to $2,000 per transaction and $5,000 per day (limits vary by account type). Zelle works only if both people have accounts at participating banks, which includes Bank of America.

ACH transfers (Automated Clearing House) are free and move money between bank accounts, but they take three to five business days. Bank of America allows you to set up ACH transfers to external accounts online at no charge. For large amounts or time-sensitive transfers, a wire is faster, but for routine payments where you can wait a few days, ACH is free.

If you are sending money internationally and want to avoid the $45 wire fee, some international money transfer services (such as OFX, Wise, or MoneyGram) may offer lower rates, though they typically take longer than a wire. Compare the total cost—including any currency conversion fees—before choosing a method.

Frequently Asked Questions

Can I send a wire transfer through Bank of America's mobile app?

Yes, you can initiate a wire transfer through the Bank of America mobile app if you have online banking set up. The process is the same as using the website, and the $15 domestic or $45 international fee applies. You will need the recipient's banking details and must confirm the transfer before it is sent.

What happens if I send a wire transfer to the wrong account number?

Contact Bank of America when ready—the sooner you report the error, the better your chances of recovery. Bank of America will attempt to recall the wire, but if the receiving bank has already released the funds to the account holder, the recall will fail. You may need to pursue the matter through your state's banking regulator or small claims court if the receiving bank refuses to help recover the money.

Does Bank of America charge different fees for wire transfers from a savings account versus a checking account?

No, the fee is the same regardless of which account type you use to send the wire. Both checking and savings accounts are charged $15 for domestic wires and $45 for international wires, unless your account qualifies for a fee waiver through Preferred Rewards or a premium account benefit.

Can I set up a recurring wire transfer at Bank of America?

Bank of America does not offer automatic recurring wire transfers. You must initiate each wire transfer manually through online banking, phone, or in person. If you need to send money regularly, an ACH transfer (which is free and can be set to repeat) may be a better option.

Will Bank of America notify me when a wire transfer I sent has been received?

Bank of America will confirm that your wire transfer was sent when you complete the transaction. However, Bank of America does not automatically notify you when the recipient's bank receives and processes the wire. You can contact the recipient to confirm they received the funds, or check your Bank of America account history to see the transaction status.