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 customers using online banking, phone, or in-person at a branch. Some account types waive these fees entirely, and some situations let you avoid the charge altogether.

The fee is deducted from your account when you initiate the transfer, not when the recipient receives it. If you do not have enough money in your account to cover both the transfer amount and the fee, the transfer will be rejected.

Key Takeaways

  • Domestic wire transfers cost $15 and international transfers cost $45 at Bank of America, charged to your account when you send the money.
  • Certain account types—including some premium checking and investment accounts—waive wire transfer fees entirely.
  • Receiving a wire transfer into your Bank of America account is always free, regardless of where it comes from.
  • If you cancel a wire transfer before it settles, Bank of America may still charge the fee depending on how far the transfer has progressed.
  • ACH transfers (slower, usually free) and Zelle (instant, free for most users) are cheaper alternatives if the recipient's bank participates.

Which Bank of America accounts waive wire transfer fees

Bank of America's premium accounts include wire transfer fees in their benefits package. Preferred Rewards members at the Gold tier and above get one free domestic wire transfer per month; Platinum and Diamond tiers get unlimited free domestic and international wire transfers. You earn Preferred Rewards status by maintaining a combined balance or investment portfolio of a certain amount with Bank of America.

Some investment and wealth management accounts also waive wire fees as part of their service package. If you hold a Bank of America investment account or work with a financial advisor through the bank, ask whether your account includes wire transfer benefits.

Student and basic checking accounts do not waive wire fees. If you have a simple checking account and want to avoid the charge, you will need to either upgrade to a premium account or use an alternative payment method.

When you do not pay a wire transfer fee

You never pay a fee to receive a wire transfer into your Bank of America account. The sender pays the fee; the recipient does not. This applies whether the wire comes from another Bank of America customer, a different bank, or an international sender.

If you are sending money to someone else and they have a Bank of America account, you still pay the fee on your end. The recipient receives the full amount you sent.

Domestic versus international wire transfer costs

Domestic wires (sent to another US bank account) cost $15. International wires (sent to a bank account outside the United States) cost $45. The higher fee for international transfers reflects the additional processing steps required when money crosses borders and involves currency conversion or correspondent banks.

International wire transfers also take longer—usually 3 to 5 business days—compared to domestic wires, which typically settle within 1 business day. If you are sending money to Canada, Mexico, or another country where Bank of America has partnerships, ask whether a lower-cost option exists; some corridors have reduced rates or alternative services.

What happens if you cancel a wire transfer

If you cancel a domestic wire transfer before it leaves Bank of America's system (usually within a few hours of sending), the bank may refund the $15 fee. Once the wire has been sent to the recipient's bank, cancellation becomes much harder and the fee is not refunded.

For international wires, cancellation is even more difficult once the transfer has left the US banking system. Bank of America will attempt to recall the money if you ask, but there is no may provide of success, and the $45 fee is typically not returned. The sooner you request a cancellation, the better your chances.

To cancel a wire, contact Bank of America immediately by phone or in person. Online banking does not offer a cancellation option once a transfer is submitted.

Cheaper alternatives to wire transfers

ACH transfers are free at Bank of America and work for most domestic payments. They take 1 to 3 business days instead of same-day or next-day delivery, but if you are not in a rush, ACH saves you the $15 fee. You can set up ACH transfers online or by providing your routing and account number to the person sending you money.

Zelle is Bank of America's peer-to-peer payment service and is free for most transfers. It is instant (money arrives within minutes) and works between individuals who both have Zelle-enabled accounts. Zelle has daily and monthly sending limits, so it works best for smaller amounts.

If you are sending money internationally, international ACH (available for some countries) or a money transfer service like Western Union or MoneyGram may be cheaper than a $45 wire, depending on the amount and destination. Compare rates before you send.

How to send a wire transfer at Bank of America

You can initiate a wire transfer through Bank of America's online banking platform, by phone, or in person at a branch. Online is the fastest option and available 24/7. You will need the recipient's full name, bank name, routing number, and account number. For international wires, you will also need the recipient's address and the bank's SWIFT code.

The $15 or $45 fee is shown before you confirm the transfer. Once you submit, the transfer cannot be edited—only cancelled (with the caveats above). Bank of America will send you a confirmation number and receipt.

Frequently Asked Questions

Can I get the wire transfer fee refunded if something goes wrong?

If the wire transfer fails to reach the recipient due to an error on Bank of America's part (wrong routing number entered by the bank, system failure), you can request a refund of the fee. If the error was yours (you provided the wrong account number), the fee is not refunded, though Bank of America will attempt to recover the money. Contact the bank within 24 hours of discovering the problem.

Does Bank of America charge a fee if I receive a wire transfer?

No. Receiving a wire transfer is always free at Bank of America. The sender pays all fees. If someone is sending you money via wire, you will receive the full amount they sent.

How long does a Bank of America wire transfer take?

Domestic wires typically arrive within 1 business day, often the same day if sent before the bank's cutoff time (usually 2 p.m. local time). International wires take 3 to 5 business days and depend on the recipient's bank and any intermediate banks involved in the transfer.

What is the difference between a wire transfer and an ACH transfer?

Wire transfers are faster (same day or next day) but cost $15 domestically. ACH transfers are free but take 1 to 3 business days. ACH works for most routine payments; wire transfers are better when you need money to arrive quickly or when the recipient does not accept ACH.

Can I set up recurring wire transfers?

Bank of America does not offer automatic recurring wire transfers through online banking. You can set up a standing instruction with the recipient's bank to pull money from your account via ACH, or you can manually initiate a wire each time. Some business accounts may have different options—ask your account manager.