Bank of America's SWIFT System for International Wires
Bank of America uses the SWIFT network to move money to bank accounts outside the United States. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication — it is the messaging system banks use to tell each other where money should go and how much. When you send an international wire through Bank of America, your money travels through SWIFT codes that identify the receiving bank and branch.
You can initiate a Bank of America international wire through online banking, mobile app, phone, or by visiting a branch in person. The process requires the recipient's bank details, including their SWIFT code (also called a BIC code), account number, and full name. Bank of America charges a fee for outgoing international wires, though the exact amount depends on the destination country and whether you use their standard or expedited service.
Key Takeaways
- Bank of America's SWIFT code is BOFAUS3N, but the receiving bank's SWIFT code is what matters most for routing your money correctly.
- You need the recipient's full name, account number, bank name, and their bank's SWIFT code before you can send the wire.
- International wires through Bank of America typically take one to three business days, depending on the destination country and whether you pay for expedited processing.
- Bank of America charges an outgoing international wire fee that varies by destination; you can ask the fee amount before confirming the transfer.
What Information You Need Before Sending
Gather the recipient's details before you start the wire. You will need their full legal name exactly as it appears on their bank account, their complete bank account number, the name of their bank, and their bank's SWIFT code. The SWIFT code is a unique identifier for that specific bank and branch — it is usually eight or eleven characters long and combines letters and numbers.
If you do not have the recipient's SWIFT code, ask them directly or look it up on their bank's website. Many banks publish their SWIFT codes publicly. You may also need the recipient's address, depending on the destination country and Bank of America's requirements at the time you send the wire. Some countries require additional information like an IBAN (International Bank Account Number) instead of or in addition to the account number — your recipient's bank can tell you which format they use.
Sending a Wire Through Online Banking or Mobile App
Log into your Bank of America online account or open the mobile app and navigate to the wire transfer section, usually found under "Transfers" or "Move Money." Select "Send money internationally" or the equivalent option. Enter the recipient's information in the fields provided: their name, bank name, SWIFT code, and account number. Double-check every detail before proceeding, because wires cannot be reversed once they leave Bank of America's system.
Enter the amount you want to send and review the fee that Bank of America will charge. The fee appears on the confirmation screen before you authorize the transfer. Confirm the wire, and Bank of America will generate a confirmation number. Save this number — you will need it if you have questions about the wire later or if the recipient does not receive the money within the expected timeframe.
Sending a Wire by Phone or at a Branch
Call Bank of America's wire transfer line or visit a branch in person if you prefer not to use online banking. A representative will ask you for the same information: recipient's name, bank details, SWIFT code, and account number. They will also confirm the amount and explain the fee before processing the wire. Over the phone, the representative may ask security questions to verify your identity before authorizing the transfer.
At a branch, bring a photo ID and have the recipient's bank information ready. The teller will enter your details into the system and provide you with a confirmation number and receipt. Sending a wire in person can be useful if you have questions about the process or if you want to confirm the fee before committing to the transfer. Branch hours vary by location, so check your local branch's schedule before you go.
How Long the Wire Takes and What Happens Next
Bank of America typically processes outgoing international wires within one business day. The money then travels through the SWIFT network to the recipient's bank, which usually takes one to two additional business days depending on the destination country. Some countries have faster processing than others — wires to major financial centers often arrive within one to two days total, while wires to smaller banks or less common destinations may take three to five business days.
Bank of America offers expedited processing for an additional fee if you need the money to arrive faster. Ask about this option when you initiate the wire. Once the wire leaves Bank of America, you cannot stop it, so if you realize you made a mistake, contact Bank of America when ready with your confirmation number. They may be able to contact the receiving bank and ask them to refuse the payment, but this is not may provide and depends on whether the money has already been received.
Bank of America's SWIFT Code and When You Need It
Bank of America's own SWIFT code is BOFAUS3N. You do not need this code to send money out — you only need the receiving bank's SWIFT code. However, if someone outside the United States is sending you money to your Bank of America account, they will need BOFAUS3N plus your account number to route the wire correctly. You can provide this information to anyone sending you an international wire.
Some Bank of America branches have their own routing numbers for international wires, which may differ from the main SWIFT code. If you are receiving a wire and the sender asks for a specific routing number or branch code, contact your local Bank of America branch to confirm the correct code for your account. Using the wrong code can delay the wire or send it to the wrong place.
Fees and Exchange Rates
Bank of America charges an outgoing international wire fee that varies depending on the destination country. The fee is typically between $15 and $45 for a standard wire, with expedited wires costing more. You will see the exact fee on the confirmation screen before you authorize the transfer, so you know the total cost before your money leaves your account.
Bank of America also applies an exchange rate to the transfer if you are converting U.S. dollars to another currency. This exchange rate is not the same as the mid-market rate you might see online — banks add a markup to the rate they offer customers. The markup amount varies and is not always disclosed upfront, so if you are sending a large amount, ask Bank of America what exchange rate they will use before you confirm the wire. Some customers find that using a specialized international money transfer service results in a better exchange rate for very large transfers, though those services have their own fees and processing times.
Frequently Asked Questions
What is the difference between a SWIFT code and a routing number?
A routing number is used for domestic U.S. transfers and identifies a specific bank branch within the United States. A SWIFT code is used for international transfers and identifies a bank or branch anywhere in the world. Both serve the same purpose — telling the financial system where to send money — but they are used in different contexts.
Can I cancel an international wire after I send it?
Once Bank of America sends the wire into the SWIFT network, you cannot cancel it. Contact Bank of America when ready with your confirmation number if you need to stop the transfer. They may be able to contact the receiving bank and ask them to refuse the payment, but this only works if the money has not already been received and credited to the recipient's account.
What should I do if the recipient says they did not receive the money?
Ask the recipient to check with their bank — the money may have arrived but not yet posted to their account, or it may be held pending verification. If several business days have passed, contact Bank of America with your confirmation number and provide the recipient's bank details. Bank of America can trace the wire and determine whether it reached the receiving bank.
Do I need to report international wire transfers to the IRS?
Bank of America reports large wire transfers to the U.S. government as required by law, but you may also have separate reporting obligations depending on the amount and purpose of the transfer. Consult a tax professional or accountant if you have questions about reporting requirements for your specific situation.
Can I send an international wire from a Bank of America savings account?
Yes, you can send an international wire from most Bank of America account types, including checking and savings accounts. Some account types or account statuses may have restrictions, so contact Bank of America if you are unsure whether your account can send international wires.