If you are using a wire transfer service, you’ll need to contact the service to find out how their specific wire transfer process works. Contact the receiving bank to get current fee information. Please keep in mind that the receiving bank may also charge a processing fee for wire transfers. International bank transfers may require additional information, may take a few days longer to complete than domestic transfers, and may require a higher wire transfer fee. Transfer fees will vary depending on your bank or credit union, but can usually range between $0-$50. You’ll usually need to provide the recipient’s full name, contact information, and bank account details such as routing and transfer numbers. You can usually initiate a bank-to-bank wire transfer in person at your bank or financial instruction’s local branch or through your online bank account. You can wire money through the following methods: Bank-to-bank wire transfers Before completing a wire transfer, it’s important to consider the ways you can wire money safely, conveniently, and quickly. Wire transfers are commonly done through two methods: bank transfers and wire transfer services. Keep in mind that wire transfers are typically subject to fees and that the funds requested for the wire transfer will leave your account immediately. Transfers can be done both domestically (within the United States) as well as internationally. Wire transfers can make sending money to other people or businesses convenient. There are several methods for wiring money, and you may want to consider each method carefully to find out which type of wire transfer is best for your financial needs or situation. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.A wire transfer is an electronic payment used to transfer funds between bank accounts. compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. We may also receive compensation if you click on certain links posted on our site. We may receive compensation from our partners for placement of their products or services. While we are independent, the offers that appear on this site are from companies from which receives compensation. $10,000 (per 24 hours), $50,000 (monthly)īusiness wire transfer limits Transfer typeį is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Consumer wire transfer limits Transfer type What is the wire transfer limit for Bank of America?īank of America’s transfer limit varies on whether you are sending money through a consumer or business account. If you don’t want to send a wire transfer, you also have the option of obtaining an international money order and then mailing it to your recipient overseas. What are the ways I can send money abroad with Bank of America?īank of America offers international wire transfers directly to your recipient’s bank account in more than 200 countries. Therefore, it is best to compare the displayed rate on Bank of America with the current interbank rate to work out the exact size of the margin. It’s also worth keeping in mind that Bank of America’s wire transfer service adds a 5% to 7% margin on top of the mid-market rate for international transfers. You’ll get a better exchange rate from a money transfer specialist, so look for alternatives to save money on your transfer. While Bank of America doesn’t reveal its exchange rates online, they will show you the rate that applies to your transaction before you confirm the transfer’s details. If you send an outgoing transaction in a foreign currency, Bank of America will waive the wire transfer fee and instead add margin onto the currency exchange for your transfer.Ĭompare money transfer fees now How are Bank of America’s exchange rates? Typical wire transfer fees at Bank of America are: How much are Bank of America wire transfer fees?Īlthough fees may differ based on your type of account, receiving a domestic wire transfer costs $15 and sending an international transfer costs $45. You may also be subjected to daily and monthly limits. Consumers are limited to $1,000 per transaction and small businesses can send up to $5,000. Recipients can withdraw cash from their accounts after the transfer is complete. You’ll need to have an account with Bank of America before making a transfer. Prepare to pay a transfer fee of $30 to $45 when you send money overseas. All international money transfer services.
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