The basic steps to wire money from Bank of America
To wire money from Bank of America, you log into your account online or call the bank, provide the recipient's bank details, enter the amount, and confirm the transfer. The money usually leaves your account the same day if you send it before the bank's cutoff time (typically 2 p.m. Eastern time on weekdays). The recipient's bank receives it within one to two business days, though some banks credit it faster.
A wire transfer is different from other ways to move money because the bank sends the funds directly from your account to another bank account. You cannot cancel a wire once it has been sent, so you need to be certain about the recipient's information before you confirm. Bank of America charges a fee for outgoing domestic wires (currently $15 for online transfers and $20 for phone transfers, though these amounts can change).
Key Takeaways
- Wire transfers through Bank of America cost $15 online or $20 by phone for domestic transfers, and you cannot cancel once sent.
- You need the recipient's full name, bank name, routing number, and account number to complete a wire.
- Domestic wires typically arrive within one to two business days; international wires take longer and cost more.
- Bank of America's cutoff time for same-day processing is usually 2 p.m. Eastern time on weekdays.
Wiring money online through your Bank of America account
Log into your Bank of America online banking account and look for the "Transfer & Pay" section, usually found in the main menu. Select "Wire Money" or "Send Money Internationally" depending on whether the recipient's bank is in the United States or abroad. The system will ask you to choose whether you are sending to an existing payee (someone you have wired to before) or a new payee.
For a new payee, you will enter the recipient's full name exactly as it appears on their bank account, their bank's name, the bank's routing number (a nine-digit code that identifies the bank), and the recipient's account number. Double-check this information carefully because wires cannot be reversed. Enter the amount you want to send and review all details before you confirm. Bank of America will show you the fee and the total amount that will leave your account.
Wiring money by phone with Bank of America
Call Bank of America's customer service at 1-800-933-6262 and tell the representative you want to send a wire transfer. Have the recipient's information ready: their full name, their bank's name, the routing number, and the account number. The representative will walk you through the process, confirm the amount and the fee, and process the transfer over the phone.
Phone transfers cost $20 instead of $15 because a representative handles the transaction manually. This method can be useful if you are not comfortable using online banking or if you have questions about the process. The wire will still process the same day if you call before the cutoff time.
What information you need before you start
Gather these details before you begin a wire transfer: the recipient's full legal name (as it appears on their bank account), the name of their bank, the bank's routing number, and their account number. If you are sending money internationally, you may also need the bank's SWIFT code (an international identifier) or IBAN (International Bank Account Number), depending on the country.
Ask the recipient directly for this information rather than guessing or looking it up yourself. A small mistake in the account number or routing number can send your money to the wrong place, and you may not be able to recover it. If the recipient is unsure, they can contact their own bank to confirm their account number and routing number.
Domestic versus international wire transfers
A domestic wire stays within the United States and typically arrives within one to two business days. Bank of America charges $15 for an online domestic wire or $20 by phone. An international wire goes to a bank outside the United States and takes longer—usually three to five business days—because it passes through multiple banks in different countries. International wires cost more; Bank of America's fee varies depending on the destination country, typically ranging from $45 to $50.
International wires also require additional information. You will need the recipient's bank's SWIFT code (an eight or eleven-character code) or sometimes their IBAN. Some countries use one system, some use the other, and some accept both. The recipient's bank can provide this information if they do not have it readily available.
What happens after you send a wire
Once you confirm a wire transfer, the money leaves your Bank of America account when ready and you receive a confirmation number. Save this number in case you need to track the transfer later. The recipient's bank receives the wire within one to two business days for domestic transfers. Some banks credit the money to the recipient's account the same day they receive it; others take an additional business day.
You can check the status of a wire by logging into your Bank of America account and looking at your transaction history, or by calling customer service with your confirmation number. If the wire does not arrive within the expected timeframe, contact Bank of America with your confirmation number and the recipient's bank information. Bank of America can investigate on your behalf, though this process takes time.
When a wire transfer might not be the best choice
Wire transfers are fast and reliable, but they are not always the cheapest way to move money. If you are sending money to someone else's account at the same bank, a straightforward transfer between accounts may be free and when ready. If you are sending money to a friend or family member and speed is not critical, a Bank of America transfer to another Bank of America customer (through Zelle or another service) may cost nothing.
For large international transfers, the wire fee plus any currency conversion fees can add up. Some people use specialized money transfer services for international payments, though these have their own fees and exchange rates. Compare your options based on the amount you are sending, how quickly it needs to arrive, and the total cost including all fees.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
No. Once a wire transfer is sent, it cannot be cancelled or reversed. This is why you must verify all recipient information before you confirm. If you realize you made a mistake when ready after sending, contact Bank of America right away with your confirmation number—they may be able to contact the receiving bank, but there is no may provide the money can be recovered.
How long does a wire transfer take?
Domestic wires typically arrive within one to two business days. International wires take three to five business days because they pass through multiple banks. The exact timing depends on the receiving bank's processing speed. Some banks credit funds the same day they receive them; others take an additional business day.
What is a routing number and where do I find it?
A routing number is a nine-digit code that identifies a specific bank branch. The recipient can find their routing number by calling their bank, checking their checks (it is usually printed at the bottom left), or logging into their online banking account. Do not guess or use a number you find online—ask the recipient directly to confirm.
Do I pay the fee if the wire does not arrive?
Yes, Bank of America charges the wire fee when you send the transfer, regardless of whether it arrives successfully. If the wire fails to arrive, contact Bank of America with your confirmation number so they can investigate. In rare cases, the fee may be refunded if the bank made an error, but this is not may provide.
Can I wire money from a savings account or only from checking?
You can wire money from either a checking or savings account at Bank of America. The process is the same regardless of which account type you use. Just make sure you have enough money in the account to cover both the transfer amount and the wire fee.