Wire transfer timing at Bank of America
A domestic wire transfer through Bank of America typically arrives the same business day if you send it before the cutoff time, which is usually 2 p.m. Eastern Time on weekdays. If you send after 2 p.m. or on a weekend or holiday, the transfer moves to the next business day. International wire transfers take longer — usually three to five business days, depending on the receiving country and whether the receiving bank needs to route the money through additional banks.
The actual time your money reaches the other account depends on when the receiving bank processes it. Bank of America sends the wire when ready after your cutoff time, but the receiving institution may take several hours or until the next business day to post the funds to the recipient's account. This is outside Bank of America's control.
Key Takeaways
- Domestic wires sent before 2 p.m. ET on a business day arrive the same day, but the receiving bank may not post them until the next morning.
- Wires sent after 2 p.m. ET, on weekends, or on federal holidays process the next business day.
- International wires take three to five business days and may route through multiple banks before reaching the recipient.
- Bank of America charges a fee for outgoing wires — the amount depends on whether you are sending domestically or internationally.
Domestic wire transfer cutoff times and processing
Bank of America's cutoff for same-day domestic wire processing is 2 p.m. Eastern Time on business days. Business days are Monday through Friday, excluding federal holidays. If you initiate a wire at 1:45 p.m. ET on a Tuesday, Bank of America sends it that day. If you initiate at 2:15 p.m. ET, it queues for Wednesday.
Once Bank of America sends your wire, it reaches the receiving bank's system within hours, usually the same day. However, the receiving bank may not credit the recipient's account until the next business day. Some banks post incoming wires when ready; others batch them and process them during their next business day opening. You have no way to know which approach the receiving bank uses until the money arrives.
If you send a wire on Friday at 1 p.m. ET, Bank of America sends it Friday, but the receiving bank may not post it until Monday morning. If you send on Friday at 3 p.m. ET, Bank of America does not send it until Monday, so the recipient would not see it until Monday or Tuesday.
International wire transfer timing
International wires take longer because they move through the SWIFT network (Society for Worldwide Interbank Financial Telecommunication) and often through one or more intermediary banks. Bank of America sends your wire the same day if you send before 2 p.m. ET on a business day, but the wire then travels through the banking system in the receiving country, which adds time.
Most international wires arrive within three to five business days. Some countries have faster processing — Canada and the United Kingdom often see delivery in two to three days. Other countries, particularly those with less developed banking infrastructure, may take five to seven business days. The receiving bank's processing speed also matters; some banks post international wires when ready, while others hold them for verification.
If you are sending to a country you are unfamiliar with, ask the recipient's bank how long incoming international wires typically take. They can tell you whether the receiving bank uses intermediary banks and whether there are any local holidays that might delay processing.
What happens if your wire does not arrive on time
If a domestic wire does not arrive within one business day of when Bank of America sent it, contact Bank of America's wire department. They can trace the wire using the reference number Bank of America gave you when you sent it. The trace usually takes one to two business days. Bank of America will tell you whether the receiving bank received it and, if so, when they posted it.
If the receiving bank received the wire but has not posted it, the delay is on their end. Bank of America can contact them on your behalf, but the receiving bank is not obligated to speed up their process. If the wire never reached the receiving bank, Bank of America investigates further and may reverse the transaction and return your money.
For international wires, allow the full five business days before contacting Bank of America. International wires move slowly by design, and a wire that appears delayed on day three may arrive on day four or five without any problem. If it does not arrive within seven business days, contact Bank of America to initiate a trace.
Fees Bank of America charges for wire transfers
Bank of America charges an outgoing wire fee. The fee for a domestic wire is typically $15 for online transfers and $20 for transfers made at a branch or by phone, though these amounts vary by account type and may change. International wire fees are higher — usually $45 for online and $50 for branch or phone transfers.
Some Bank of America accounts waive wire fees if you maintain a minimum balance or meet other account requirements. Check your account agreement or call Bank of America to confirm whether your account qualifies for fee waivers. The receiving bank may also charge an incoming wire fee, which comes out of the amount the recipient receives — this is separate from what Bank of America charges you.
How to send a wire transfer through Bank of America
You can send a wire through Bank of America online, by phone, or at a branch. Online is fastest and cheapest. Log into your Bank of America account, go to the transfer section, and select "Wire Transfer." You will need the recipient's name, bank name, routing number, and account number. For international wires, you also need the SWIFT code (also called BIC code) of the receiving bank.
Before you send, confirm all details with the recipient. A wrong routing number or account number sends your money to the wrong place, and recovering it is difficult and slow. Bank of America will ask you to review the information before you confirm the transfer. Take time to check it.
If you are sending to a person or business you have not wired to before, Bank of America may place a hold on the wire for fraud review. This can add one business day to the process. The hold is automatic and is not something you can bypass, but it protects you from sending money to a fraudulent account.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
You can cancel a domestic wire only if you contact Bank of America before they send it — usually within minutes of when you initiated it. Once Bank of America sends the wire, it is out of their control and cannot be stopped. For international wires, cancellation is even more difficult because the wire may have already left the U.S. banking system. Contact Bank of America when ready if you need to cancel.
Why is my wire taking longer than expected?
The most common reason is that the receiving bank has not posted it yet. Bank of America sends domestic wires the same day, but the receiving bank may hold it overnight. For international wires, delays happen at intermediary banks or in the receiving country's banking system. Check with the recipient's bank to see whether they have received the wire.
Do I need to give the recipient anything besides my account number?
No. The recipient does not need your account number to receive a wire. They only need to tell you their bank name, routing number, and account number so you can send the wire to them. Bank of America does not send your account information to the receiving bank.
What is the difference between a wire transfer and an ACH transfer?
A wire transfer moves money the same day or next day and costs a fee. An ACH transfer takes three to five business days and is usually free. Use a wire when you need money to arrive quickly; use ACH for routine payments where timing is not urgent.
Can I wire money internationally from my Bank of America savings account?
Yes, you can send an international wire from a savings account. The process is the same as from a checking account. You will need the recipient's bank details and SWIFT code, and Bank of America will charge the international wire fee.