Bank of America charges for most wire transfers, but the fee depends on whether you send money domestically or internationally
Bank of America charges $15 for domestic wire transfers (money sent within the United States) and $45 for international wire transfers (money sent outside the US). These are the standard fees for most customers. However, certain account types and customer situations waive these fees entirely, and some transfers may cost less or more depending on how you send the money.
The fee is deducted from your account when you initiate the transfer, not when the recipient receives it. If you have $500 in your account and send a $500 domestic wire transfer, your account will show a $515 debit — the $500 transfer plus the $15 fee.
Key Takeaways
- Domestic wire transfers cost $15 and international transfers cost $45 at Bank of America, though some account types waive these fees.
- Premium checking accounts like Preferred Rewards and certain wealth management accounts often include free wire transfers as a benefit.
- Wire transfer fees are separate from any fees the receiving bank may charge, so the recipient might also pay a fee on their end.
- Bank of America does not charge fees for incoming wire transfers, only for wires you send out.
Which Bank of America accounts waive wire transfer fees
If you hold a Preferred Rewards checking account with a may have access to balance or linked investment account, wire transfer fees are waived. The exact threshold depends on your Preferred Rewards tier — Gold, Platinum, or Diamond — and changes based on your total relationship balance with Bank of America. You can check your tier status in the mobile app or by calling 1-800-432-1000.
Bank of America also waives wire transfer fees for customers with wealth management accounts or private banking relationships. If you have a dedicated banker or advisor at Bank of America, ask them directly whether your account includes this benefit.
Standard checking and savings accounts do not waive wire transfer fees. If you use a basic account and want to avoid the fee, you would need to either upgrade to Preferred Rewards or use an alternative transfer method like ACH (Automated Clearing House), which is free but takes 1 to 3 business days.
How to send a wire transfer and where the fee appears
You can initiate a wire transfer through Bank of America's website, mobile app, or by visiting a branch in person. Online and mobile transfers are processed when ready during business hours (Monday through Friday, 8 a.m. to 5 p.m. ET). Transfers requested after hours or on weekends are queued and sent the next business day.
When you enter the transfer amount, Bank of America shows you the fee before you confirm. The total debit from your account includes both the transfer amount and the fee. For example, if you send $1,000 domestically, your account is debited $1,015. The recipient receives only the $1,000 you specified — the fee does not reduce what they get.
In-person wire transfers at a branch may take longer to process than online transfers, but the fee is the same. Some branches may also require you to bring identification and proof of the recipient's banking details.
International wire transfer fees and currency conversion costs
International wire transfers cost $45 at Bank of America, but this is only the outgoing wire fee. The receiving bank in the destination country may also charge a fee to receive the transfer, which is deducted from the amount the recipient gets. You cannot control or predict this fee — it depends entirely on the receiving bank's policies.
If you send $1,000 internationally, Bank of America deducts $45 from your account for the wire fee. The recipient's bank may then deduct an additional $10 to $50 (or more) before depositing the remaining balance into the recipient's account. Bank of America does not charge a separate currency conversion fee, but the exchange rate they use may be less favorable than rates you would find elsewhere.
For large international transfers, it is worth comparing Bank of America's rates and fees to specialized money transfer services like Wise or OFX, which often charge lower fees and offer better exchange rates. However, these services work differently and may take longer to set up.
Incoming wire transfers and what happens when someone sends you money
Bank of America does not charge you a fee to receive a wire transfer, whether it comes from within the US or from another country. The money arrives in your account and is available when ready (for domestic transfers) or within 1 to 3 business days (for international transfers), depending on the sending bank's processing time.
The sending bank may charge the person sending you money, but that does not affect what you receive. If someone sends you $1,000, you receive $1,000 in your Bank of America account, even if they paid a $15 or $45 fee on their end.
Alternatives to wire transfers that cost less or nothing
ACH transfers are free and work for most domestic transfers between US bank accounts. ACH takes 1 to 3 business days but costs nothing. You can set up an ACH transfer online through Bank of America's website or mobile app.
Zelle is a free peer-to-peer payment service available through Bank of America's app. You can send up to $2,000 per transaction (limits vary by account age and history) to anyone with a US bank account. Zelle transfers arrive within minutes to a few hours, and there is no fee.
Bill Pay is free through Bank of America and works if you are paying a business or organization. The payment arrives as a check or ACH transfer within 1 to 3 business days.
Wire transfers are necessary when you need the money to arrive the same day, when you are sending to an international account, or when the recipient requires a wire specifically. For routine domestic transfers between people you know, ACH or Zelle are faster and cheaper.
What to do if you were charged a wire transfer fee you did not expect
If you see a wire transfer fee on your statement and believe it should have been waived, contact Bank of America at 1-800-432-1000 or visit a branch with your account information and the transaction date. Explain your account type and ask whether the fee should have been waived. If you have a Preferred Rewards account, confirm your tier status — sometimes the tier resets if your balance drops below the threshold.
Bank of America may reverse a single unexpected fee as a courtesy, especially if your account is in good standing. However, they will not reverse fees retroactively for multiple past transactions unless there was a clear error on their part. Keep your statement handy when you call, and have the wire transfer reference number ready.
Frequently Asked Questions
Can I avoid the wire transfer fee by using a different payment method?
Yes. ACH transfers are free and take 1 to 3 business days. Zelle is also free and faster (minutes to hours). Wire transfers are the most expensive option but the fastest — use them only when the recipient needs the money the same day or specifically requires a wire.
Does the recipient pay a fee when I send them a wire transfer?
Not at Bank of America — you pay the fee when you send. However, the recipient's bank may charge them a fee to receive the transfer, especially for international wires. This is separate from Bank of America's fee and depends on their bank's policies.
What if I send a wire transfer to the wrong account by mistake?
Contact Bank of America when ready at 1-800-432-1000. Domestic wires cannot be recalled once sent, but Bank of America can attempt to contact the receiving bank and request the money back. International wires are even harder to reverse. You will still owe Bank of America's wire fee even if the transfer is recalled or rejected.
Do I pay the wire transfer fee if the transfer fails?
Usually yes. Bank of America charges the fee when you initiate the transfer, not when it successfully arrives. If the transfer fails due to incorrect account information or other issues, contact Bank of America to request a refund of the fee. They may reverse it, but it is not automatic.
Is there a limit to how much I can wire transfer?
Bank of America does not publish a single wire transfer limit — it depends on your account type, history, and relationship with the bank. Call 1-800-432-1000 or ask at a branch if you are planning a large transfer. They can tell you whether your account has a limit and whether it can be increased temporarily.