Bank of America operates internationally, but not as a full-service global bank

Bank of America does have an international presence and offers some cross-border services, but it is not structured like a true international bank. It is a U.S.-based bank with branches and operations in select countries, primarily serving American customers abroad and some business clients. If you are a non-U.S. resident looking to open an account or move money internationally, Bank of America's offerings are narrower than you might expect.

The bank operates branches in roughly 35 countries, mostly in Europe, Asia, and Latin America. However, these branches primarily serve U.S. expatriates, multinational corporations, and customers with existing U.S. accounts—not new residents of those countries. A person living in Mexico or the United Kingdom cannot simply walk into a Bank of America branch and open a local checking account the way they could at a domestic bank.

Key Takeaways

  • Bank of America has branches in about 35 countries but does not offer full retail banking to non-U.S. residents in most locations.
  • International wire transfers and currency exchange are available to existing account holders, but fees and exchange rates are typically higher than specialist money transfer services.
  • Non-U.S. residents generally cannot open a new Bank of America account unless they have a U.S. address, Social Security number, or existing relationship with the bank.
  • Bank of America's international services are designed mainly for U.S. customers traveling or working abroad, not for people establishing residency outside the United States.

What Bank of America offers to customers abroad

If you already hold a Bank of America account in the United States, you can use it while living overseas. The bank offers international wire transfers, ATM access through its global network, and currency exchange services. You can also request a replacement debit card mailed to an international address, though delivery times vary by country and may take several weeks.

Bank of America's international ATM network includes partners in most major cities, but you will pay a fee for out-of-network withdrawals—typically $3 per transaction plus any fee charged by the ATM operator's bank. Currency conversion happens at Bank of America's exchange rate, which is usually 1 to 2 percent higher than the mid-market rate, meaning you lose money on every transaction.

Wire transfers to and from Bank of America accounts cost between $15 and $45 depending on the direction and destination country. The bank also charges for incoming international wires, which can be $15 or more. These fees are significantly higher than those charged by specialist money transfer services like Wise, OFX, or Remitly.

Who can open a new Bank of America account from outside the U.S.

Bank of America does not routinely open accounts for people living outside the United States. To open an account, you typically need a U.S. address, a U.S. Social Security number or Individual Taxpayer Identification Number (ITIN), and a valid government-issued ID. If you are a non-U.S. resident without these, you will be turned down.

There are narrow exceptions. If you are a U.S. citizen or permanent resident living abroad, you may be able to maintain an existing account or open one through Bank of America's Private Bank division if you have substantial assets. Some international business clients can also open accounts, but this requires a corporate relationship and typically involves a dedicated relationship manager.

Bank of America's website does not offer a clear path for non-U.S. residents to open accounts online. Attempting to do so will likely result in a rejection during the verification step.

International wire transfers and currency exchange

If you need to send money from a Bank of America account to another country, you can initiate a wire transfer through online banking, mobile app, or by visiting a branch. The bank will ask for the recipient's bank name, account number, and routing information (or SWIFT code for international transfers). Processing typically takes one to three business days, though some countries may take longer.

Bank of America's exchange rates are not competitive. The bank adds a markup to the mid-market rate—the true rate at which banks trade currencies with each other. This markup is often 1 to 2 percent, sometimes higher for less common currencies. For a $10,000 transfer, this can cost you $100 to $200 in hidden fees.

Receiving money into a Bank of America account from abroad works similarly. The sender provides your bank details and SWIFT code (BOFAUS3N for most U.S. accounts). Bank of America will convert the incoming currency at its own rate and deposit the funds, minus any incoming wire fee.

Alternatives for non-U.S. residents who need banking services

If you are a non-U.S. resident and need to move money internationally or access banking services, Bank of America is rarely the best option. Specialist money transfer services like Wise (formerly TransferWise) offer mid-market exchange rates with minimal markup, typically 0.5 to 1 percent. OFX and Remitly offer similar rates for different corridors and account types.

For everyday banking in your country of residence, open an account with a local bank. Most countries have straightforward processes for non-citizens to open accounts—you will need a passport, proof of address, and sometimes a tax identification number. Local banks offer better exchange rates, lower fees, and services designed for your actual location.

If you are a U.S. citizen or permanent resident living abroad and want to keep a U.S. bank account, consider online banks like Charles Schwab or Fidelity, which offer better international ATM networks and lower foreign transaction fees than Bank of America. Charles Schwab reimburses ATM fees worldwide, which can save hundreds of dollars per year.

Bank of America's SWIFT code and account details for receiving transfers

If someone outside the U.S. needs to send you money to your Bank of America account, provide them with your account number and the bank's SWIFT code: BOFAUS3N. Some senders may also ask for the ABA routing number (varies by branch) or the bank's address.

Make sure the sender knows that Bank of America will convert the incoming currency and may charge a receiving fee. Ask your sender to confirm the amount arriving in your account, as fees and exchange rates can reduce the amount you receive. If a large sum is expected, contact Bank of America in advance to confirm the transfer will be processed without delays.

Frequently Asked Questions

Can I open a Bank of America account if I live in Canada or Mexico?

No, not as a new account holder. Bank of America requires a U.S. address and Social Security number for standard accounts. If you are a U.S. citizen living in Canada or Mexico, you may be able to maintain an existing account, but opening a new one will be rejected during verification.

Does Bank of America offer better exchange rates than other banks?

No. Bank of America's exchange rates include a 1 to 2 percent markup over the mid-market rate. Specialist services like Wise offer rates much closer to mid-market, typically 0.5 percent or less. For international transfers, Bank of America is one of the most expensive options.

What happens if I move abroad and already have a Bank of America account?

You can keep your account open and use it from abroad. You can withdraw cash at ATMs, make wire transfers, and receive deposits. However, you will pay international fees on most transactions. Notify the bank of your address change to avoid account restrictions.

How long does an international wire transfer from Bank of America take?

Most transfers take one to three business days. Some countries, particularly those with less developed banking infrastructure, may take longer. The bank cannot may provide delivery time, and delays can occur on the receiving bank's end.

Can I use Bank of America's debit card internationally?

Yes, your debit card works at ATMs and merchants worldwide. You will pay a $3 out-of-network ATM fee plus any fee charged by the ATM operator. Merchants abroad may also charge a foreign transaction fee (typically 1 to 3 percent), which Bank of America adds to your bill.