Bank Of America Wire Transfer

How to Make Bank Of America Wire Transfer

Last Updated on October 12, 2023 by admin

A Bank of America wire transfer is a secure and convenient method to send funds electronically from one bank account to another, both domestically and internationally.

This service allows customers to transfer money quickly, making it ideal for urgent payments or large transactions. By initiating a wire transfer, you authorize Bank of America to deduct the specified amount from your account and deposit it directly into the recipient’s account.

The funds are typically available within one business day, ensuring prompt delivery of your payment. Bank of America offers various options for wire transfers, including online banking, mobile app, or visiting a local branch.

However, please note that wire transfers may involve fees depending on the type of transaction and destination country. It is essential to provide accurate recipient information to ensure a successful transfer and avoid any delays or errors in processing your payment.

How To Initiate A Bank Of America Wire Transfer?

To initiate a Bank of America wire transfer, follow these steps. Firstly, ensure that you have all the necessary information ready, including the recipient’s name, account number, and the bank’s routing number.

Next, log in to your Bank of America online banking account or visit a local branch to access their wire transfer services. Provide the required details accurately and double-check for any errors before submitting.

Additionally, be prepared to provide your own account information for verification purposes. Once you have verified all the information and confirmed any associated fees with the bank, authorize the wire transfer by signing any required documents or providing a secure code if prompted online.

Finally, retain all transaction receipts and documentation for future reference or proof of payment. It is essential to review Bank of America’s policies and guidelines regarding wire transfers to ensure a smooth transaction process.

Fees And Processing Time For Bank Of America Wire Transfers

When it comes to fees and processing time for Bank of America wire transfers, it is important to consider several factors. Bank of America charges a fee for outgoing domestic wire transfers, typically ranging from $30 for domestic and  $45  for international

In terms of processing time, domestic wire transfers initiated before the cutoff time (usually 5:00 PM ET) on a business day are generally completed within the same day.

However, if the transfer is initiated after the cutoff time or on a non-business day, it may take longer to process. International wire transfers usually take longer due to additional intermediaries involved in routing the funds across different countries and banks.

Tips And Precautions For A Successful Bank Of America Wire Transfer

When utilizing Bank of America’s wire transfer service, it is essential to follow these tips and precautions to ensure a smooth and secure transaction.

Firstly, double-check all the information provided. Ensure that the recipient’s name, account number, and routing number are accurate before initiating the transfer. This step helps prevent any delays or potential errors.

Secondly, be aware of any applicable fees associated with wire transfers. Familiarize yourself with Bank of America’s fee structure to avoid any surprises during the transaction.

Thirdly, consider scheduling your wire transfer in advance. This allows ample time for verification and processing by both banks involved.

Lastly, keep your online banking credentials secure to protect against unauthorized access. Regularly monitor your account for any suspicious activity.

By adhering to these tips and precautions, you can confidently conduct a successful wire transfer through Bank of America while ensuring the security of your funds.

How to Make wire transfers through Online Banking from anywhere

You can send domestic and international wires (in U.S. dollars or foreign currency)

Right from your Bank of America account. Log into your Online Banking and follow these steps:

1• From the Transfer l Zelle® tab, select To/from other banks (includes wires)

2• To add a new recipient, select Add Account/Recipient. Once added, we’ll save the information.
Refer to the next page for help on required information.

3• To send a wire, select Make Transfer and follow the onscreen instructions

Sending wires: Required information from recipients

Domestic wires

• Recipient name and address
• Recipient bank’s routing code (ABA)
• Recipient account number

International wires

• Recipient name, physical address and country
• Recipient account number
• Recipient bank’s SWIFT/BIC, Branch code or National ID3
• Currency of recipient’s account (for example: U.S. dollar, Euro, Indian Rupee, etc.)
• Purpose of the wire

 

Receiving Wires: Information you provide senders

Domestic Wires:

• BofA’s wire routing #: 026009593
• Log into Online Banking to find your account number. Click on the desired account to receive the wire then select
Information & Services tab.

International Wires:

In addition to your account information and other personal details, your sender may need Bank of America’s SWIFT code and address as follows:

U.S. dollars or unknown currency: BOFAUS3N Bank of America, N.A., 222 Broadway, New York, NY 10038

Foreign currency: BOFAUS6S Bank of America, N.A., 555 California St., San Francisco, CA 94104

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