Wire transfers at Bank of America: the basics
A wire transfer is when Bank of America moves money directly from your account to someone else's account at another bank. The money usually arrives the same day or next business day. You can start a wire transfer online, by phone, or in person at a branch.
Wire transfers are faster than checks or ACH transfers (which take several days), but they cost money — Bank of America charges a fee for each one you send. Once the money leaves your account, you cannot cancel it, so you need to be certain about the recipient's details before you confirm.
Key Takeaways
- You can send a wire transfer through Bank of America's website, mobile app, by phone, or at a branch, and the money usually arrives the same day or next business day.
- Bank of America charges a fee for wire transfers, which varies depending on whether you are sending money within the United States or internationally.
- You will need the recipient's full name, account number, and routing number (for domestic transfers) or SWIFT code (for international transfers).
- Once you confirm a wire transfer, you cannot cancel it, so double-check all recipient details before you submit.
- If you are sending money internationally, the amount may be reduced by fees charged by the receiving bank or intermediary banks.
What you need before you start
Gather the recipient's information before you log in or call. For a domestic wire transfer (money staying in the United States), you need the recipient's full name, their bank account number, and their bank's routing number. The routing number is a nine-digit code that identifies the bank.
For an international wire transfer, you need the recipient's full name, their account number, and their bank's SWIFT code (also called a BIC code). A SWIFT code is similar to a routing number but used for banks outside the United States. You may also need the recipient's address and the name and address of their bank.
Have your Bank of America account number and login information ready if you are sending the transfer online. If you are going to a branch or calling, have your account number and a form of ID.
Sending a wire transfer online or through the mobile app
Log into your Bank of America account on the website or open the mobile app. Look for "Transfer money" or "Wire transfer" — the exact wording depends on which version you are using. Select the account you want to send money from.
Enter the recipient's information exactly as you have it. For a domestic transfer, type their name, account number, and routing number. For an international transfer, enter their name, account number, SWIFT code, and bank details. Bank of America will show you the fee and the amount that will be deducted from your account.
Review all the details one more time. Check that the recipient's name and account number are correct — these are the details the receiving bank will use. Confirm the amount you are sending. Then submit the transfer. Bank of America will give you a confirmation number; save this in case you need to contact them about the transfer later.
Sending a wire transfer by phone or at a branch
Call Bank of America's customer service at the number on the back of your debit card or visit a local branch. Tell them you want to send a wire transfer. Have your account number, the recipient's information, and the amount ready.
A representative will ask you to confirm the recipient's name, account number, and routing number (or SWIFT code for international transfers). They will tell you the fee and the total amount that will leave your account. Once you confirm, the transfer is submitted and cannot be reversed.
Ask for a confirmation number and write it down. Keep it with your records in case you need to track the transfer or contact Bank of America about it later.
Wire transfer fees and timing
Bank of America charges a fee for each wire transfer you send. The fee for a domestic wire transfer is different from the fee for an international wire transfer, and the amount may vary depending on your account type and whether you are a Bank of America customer. Call the bank or check your account online to see the current fee before you send.
Domestic wire transfers usually arrive the same business day if you send them before the bank's cutoff time (typically mid-afternoon). If you send after the cutoff, the transfer goes out the next business day. International wire transfers take longer — usually one to three business days — because the money passes through additional banks.
When money is sent internationally, the receiving bank or banks in between may charge their own fees. This means the recipient might receive less money than you sent. Bank of America will tell you the amount they are sending, but they cannot control fees charged by other banks.
What to do if something goes wrong
If you realize you made a mistake right after you submit the transfer, call Bank of America when ready. If the transfer has not yet left their system, they may be able to stop it, though they may charge a fee. Once the money has left Bank of America's system, they cannot cancel it.
If the recipient says they did not receive the money, contact Bank of America with your confirmation number. They can trace the transfer and tell you where it is. If the money went to the wrong account because you gave the wrong account number, recovery is difficult and may not be possible. This is why checking the recipient's details before you confirm is so important.
If you sent money internationally and the recipient received less than you sent, that difference is usually fees charged by other banks. Bank of America can tell you which fees were theirs and which came from other banks, but they cannot refund fees charged by other institutions.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
It depends on timing. If you call Bank of America when ready after sending, before the transfer leaves their system, they may be able to stop it — but they may charge a fee. Once the money has left Bank of America, cancellation is not possible. This is why wire transfers are permanent once confirmed.
How long does a wire transfer take?
Domestic wire transfers usually arrive the same business day if sent before the cutoff time, or the next business day if sent after. International wire transfers take one to three business days because the money passes through multiple banks. The receiving bank may take additional time to post the funds to the recipient's account.
What if I enter the wrong account number?
The money will go to whatever account matches that number at the receiving bank. If the account number belongs to someone else, recovery is very difficult. Always double-check the account number and recipient's name before you confirm. If you discover the error when ready, call Bank of America right away.
Do I need to tell the recipient I am sending a wire transfer?
It is a good idea to contact the recipient beforehand with the amount and approximate arrival date. This way they know to expect the money and can confirm they gave you the correct account information. It also helps them recognize the deposit when it arrives.
Why is my wire transfer taking longer than expected?
Delays can happen if the receiving bank is processing transfers slowly, if there is a holiday, or if the transfer needs additional review for security reasons. Contact Bank of America with your confirmation number and they can check the status and tell you where the money is in the process.