Bank of America Fee for Wire Transfer: What You Need to Know

If you're planning to send or receive money internationally, it's essential to understand the wire transfer limits and fees associated with Bank of America. In this article, we'll delve into the details of Bank of America's wire transfer service, including its exchange rates, fees, and consumer limits.

What is the Wire Transfer Limit for Bank of America?

Bank of America's transfer limit varies depending on whether you're sending money through a consumer or business account. As a consumer, you're limited to $1,000 per transaction, while small businesses can send up to $5,000.

How Can You Send Money Abroad with Bank of America?

Bank of America offers international wire transfers directly to your recipient's bank account in over 200 countries. If you don't want to use their wire transfer service, you also have the option of obtaining an international money order and mailing it to your recipient overseas.

What are Bank of America's Exchange Rates?

Bank of America's exchange rates can vary depending on the type of transaction. While they don't reveal their exchange rates online, they will show you the rate that applies to your transaction before you confirm the transfer's details. Keep 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.

How Much Are Bank of America Wire Transfer Fees?

Typical wire transfer fees at Bank of America are $15 for domestic transactions and $45 for international transactions. You may also be subjected to daily and monthly limits, as well as a transfer fee ranging from $30 to $45 when sending money overseas.

If you're planning to send or receive money internationally with Bank of America, it's essential to understand their wire transfer fees, limits, and exchange rates. While Bank of America's service can be convenient, it may not always offer the best exchange rate or lowest fee. Consider comparing rates and fees from other international money transfer services to find a better option for your needs.

Bank of america fee wire transfer