Incoming Domestic Wire Transfer Fees varies based on your account type but it is usually between $0 to $15Īpart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. $35 (if wire is in foreign currency) or $45 (if wire is in US dollars) for each transaction Incoming International Wire Transfer Fees varies based on your account type but it is usually between $0 to $15 International and Domestic Wire Transfer Fees for Bank of America are as follows: International You need to provide the following details to sender of the funds who will initiate the domestic wire transfer through his/her financial institution. You can receive funds to your Bank of America NA account from any bank within USA using domestic wire transfer. Incoming Domestic Wire Transfer Instructions Wire transfers are real time transfers (receiver usually get the money, same day) and costs more than ACH transfer (which takes 2-4 days for transfer of money). Wire transfers are different from ACH transfers. Domestic Wire Transfer to Bank of Americaĭomestic wire transfers are run through either the Fedwire system or the Clearing House Interbank Payments System (CHIPS). We recommend services like TransferWise for getting best conversion rates and lower wire transfer fees.

Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. The name of your account as it appears on your statement Your complete Bank of America NA account number (regardless of where your account is located) To receive international wire transfer in your Bank of America account, please use the following wire instructions: Bank Name :īOFAUS3N īOFAUS6S Incoming International Wire Transfer Instructions Note: Banks in USA don’t use IBAN account number. Usually, the receiving bank (in USA) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking. Banks use SWIFT network for exchanging messages required for performing international wire transfer. International wire transfer is one of the fastest way to receive money from foreign countries.

International Wire Transfer to Bank of America

Bank of america domestic wire transfer