Bank of America Wire Transfers Review 2021 | Finder Canada

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Bank of America wire transfers review

Send fast, secure international wire transfers from your BofA bank account. Available only if you have a BofA bank account.

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If you have a US Bank of America bank account and need to transfer funds quickly to a friend or family member anywhere around the world, Bank of America is an easy solution that offers wire transfers to more than 200 countries.

How much does a Bank of America wire transfer cost?

Although fees may differ based on your type of account, typical wire transfer fees in USD at Bank of America are:

DomesticInternational
Incoming$15$16
Outgoing$30$45

If you send an outgoing transaction in a foreign currency, Bank of America may waive the fee and instead add a margin onto the currency exchange for your transfer.

How do I send money overseas with Bank of America?

You’ll need a Bank of America bank account to send an international wire transfer with BofA. You can quickly and easily sign up for an account online with your Social Security Number, contact information and residential address.

Once you have an account, you can send a wire transfer overseas online or at a local Bank of America branch.

To initiate an international wire transfer online:

  1. Log in to your Bank of America account online.
  2. Hover over the Transfers tab and then locate the Send money to someone section and select Using their account number at another bank.
  3. Enter the details of your transaction — how much you’re sending and your recipient’s banking info.

Your transfer will typically be delivered in two business days to more than 200 countries worldwide.

How does Bank of America compare to other services?

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds overseas with our money transfer partners.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 1 Same day CAD 0.00 0.793 USD
3,966
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
USD 150 1 day CAD 15.00 0.789 USD
3,934
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
CAD 0 Within an hour CAD 3.99 0.794 USD
3,967
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
CAD 1 1 - 2 days CAD 45.00 0.797 USD
3,950
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How are Bank of America’s exchange rates?

Like any large bank, Bank of America updates its rates regularly to align with the changing global market. While it doesn’t reveal its exchange rates online, Bank of America will show you the rate that applies to your transaction before you confirm the details of your transfer. You’ll get a stronger exchange rate from a money transfer specialist, so look for alternatives to save money on your international transfer.

Available currencies and countries

Bank of America supports transfers to 200+ countries in more than 140 currencies. But keep in mind that transfers are not allowed to some countries including the Democratic Republic of Congo, Iran, Iraq, Syria, Myanmar, Belarus and others.

What types of transfers can I make with Bank of America?

Bank of America offers international wire transfers directly to your recipient’s bank account in more than 200 countries around the world. 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.

Pros and cons of using Bank of America

Pros

  • Send money to 200+ countries. Help out family and friends wherever necessary.
  • Secure transfer method. Wire transfers are a secure, reliable way to send money overseas.
  • Transfer options. You can initiate your transfer online or at your local Bank of America branch.
  • Trusted provider. A trusted name in the banking industry, BofA has a long history of providing financial solutions for millions of customers.
  • Two-day delivery. Send money in two business days, which is better than many banks but won’t help with weekend transfers.

Cons

  • Fees. Prepare to pay a transfer fee of $35 to $45 when you send money overseas. Domestic transfers cost less.
  • Customers only. You’ll need to have an account with BofA before starting a transfer.
  • Wire transfer or money orders only. Recipients can withdraw cash from their account after the transfer is complete.

Does Zelle work with Bank of America?

Yes. Zelle, the new peer-to-peer payment platform, is available through Bank of America’s app. Here’s how you can use it to transfer money to other Zelle accounts in minutes:

  1. Sign in to Bank of America’s app and select Send.
  2. Choose who you want to send money to.
  3. Enter the amount you want to transfer.
  4. Write an optional note and hit Send Money.

How do I contact customer support?

If you need assistance or have a question about your transfer, you can contact Bank of America at 800-933-6262.

Compare money transfer services

Bank of America SWIFT/BIC information

Bank nameSWIFT/BICBank addressRecipient’s nameRecipient’s account number
Bank of AmericaBOFAUS3N222 Broadway New York, New York 10038Beneficiary’s name as it appears on the bank statementComplete bank account number

Bottom line

Bank of America’s wire transfers are a secure, convenient solution when you need to send money overseas.

However, to find a service that’s best for your situation, compare the transfer fees, exchange rates and other details of money transfer specialists.

Frequently asked questions

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