What a wire transfer is and when to use it
A wire transfer is a way to send money directly from one bank account to another, usually within hours. Bank of America moves the money electronically — it does not use checks or take several business days. The receiving bank gets the funds the same day or next business day, depending on timing and time zones.
Wire transfers work best when you need money to arrive fast and you know exactly where it is going. Common reasons include paying a down payment on a house, sending money to family in another country, or paying a contractor who requires it. Wire transfers are also final — once the money leaves your account, you cannot cancel it the way you can stop a check.
Bank of America charges a fee for wire transfers. Domestic wires (within the United States) typically cost between $15 and $30, and international wires cost more. The exact fee depends on your account type and whether you do it online or in person, so check your account details or call before you send.
Key Takeaways
- You can send a wire transfer through Bank of America's website, mobile app, or by visiting a branch in person.
- You need the recipient's full name, bank name, account number, and routing number — or their SWIFT code if the money is going overseas.
- Domestic wire transfers usually arrive the same business day if you send before the bank's cutoff time, which is typically mid-afternoon.
- Wire transfers cannot be reversed once sent, so double-check all details before confirming.
- Bank of America charges a fee for each wire transfer, ranging from $15 to $30 for domestic transfers.
How to send a wire transfer online or through the mobile app
Log into your Bank of America account on the website or open the mobile app. From the main menu, look for "Transfer Money" or "Wire Transfer" — the exact wording varies slightly between the website and app, but both options are in the main navigation. Select "Send Money" and then choose "Wire Transfer."
Bank of America will ask whether the transfer is domestic (within the United States) or international. Select the correct option. Then enter the recipient's information: their full name, the name of their bank, their account number, and their routing number. For international transfers, you will need their SWIFT code instead of a routing number — their bank can provide this if they do not know it.
Enter the amount you want to send and review all the details carefully. Check the recipient's name and account number twice — these are the most common places errors happen, and errors mean the money goes to the wrong place. Once you confirm, the transfer is submitted. Bank of America will show you a confirmation number; save this in case you need to track the transfer later.
Sending a wire transfer in person at a Bank of America branch
Visit any Bank of America branch with your ID and the recipient's banking information. Tell a teller you want to send a wire transfer. They will fill out a form with you or have you fill it out yourself — the form asks for the same information as the online version: recipient's name, bank name, account number, and routing number (or SWIFT code for international transfers).
The teller will confirm the amount and show you the fee before processing. Once you approve, the transfer is sent when ready. Ask for a receipt with the confirmation number and keep it until the money arrives and the recipient confirms they received it.
Information you need before you start
Gather the recipient's information before you begin the transfer. You need their full legal name exactly as it appears on their bank account — if their account says "Robert James Smith" and you enter "Bob Smith," the transfer may be rejected or delayed. You also need the name of their bank, their account number, and their routing number.
If you do not have the routing number, you can find it on a check from that bank (it is the first nine-digit number at the bottom left), or you can ask the recipient to provide it. For international transfers, ask for the SWIFT code instead — this is an eight or eleven-character code that identifies the bank worldwide.
If the recipient is in another country, you may also need their address and the address of their bank. Bank of America's form will tell you what is required once you select the country.
How long a wire transfer takes
Domestic wire transfers sent before Bank of America's cutoff time (usually around 2 p.m. or 3 p.m. Eastern Time on a business day) arrive the same day. If you send after the cutoff or on a weekend or holiday, the transfer goes out the next business day and arrives one or two business days later.
International wire transfers take longer — typically three to five business days, depending on the receiving country and bank. The receiving bank may also hold the money for a day or two while they verify it, so tell the recipient not to expect it when ready.
Bank of America cannot speed up a wire transfer once it is sent. If you need money to arrive by a specific date, send it several days early to account for delays.
What to do if something goes wrong
If the recipient says they never received the money, contact Bank of America right away with your confirmation number. Bank of America can trace the transfer and find out where it is. If the money went to the wrong account because of an error in the account number or routing number, recovery is difficult — the receiving bank may not return it without the account holder's permission.
This is why checking all details before you send is so important. If you realize you made a mistake before the transfer is processed, call Bank of America when ready — if they have not sent it yet, they may be able to cancel it. Once it is sent, cancellation is not possible.
If Bank of America made an error — for example, if they sent the money to the wrong account despite you providing correct information — contact them in writing and keep copies of everything. You have rights under federal banking law, and Bank of America is required to investigate.
Wire transfer fees and account types
Bank of America charges a fee for each wire transfer you send. Domestic wire transfers cost between $15 and $30 depending on whether you do it online, through the app, or in person at a branch. International wire transfers cost more — typically $45 to $50 or higher, depending on the destination country.
Some Bank of America account types include a certain number of free wire transfers per month, so check your account details. Premium accounts like Preferred Rewards may offer reduced fees or a limited number of free transfers. If you send wire transfers regularly, ask a Bank of America representative whether a different account type would save you money.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
Not usually. Once Bank of America sends a wire transfer, it cannot be stopped. This is why wire transfers are final — you must be certain about the recipient and amount before you confirm. If you realize you made a mistake when ready after sending, call Bank of America right away; in rare cases they may be able to intercept it before it reaches the receiving bank, but do not count on this.
What if I enter the wrong account number?
The money will go to whatever account matches that number at the receiving bank. It may go to another customer's account, and recovering it is very difficult. The receiving bank can ask that customer to return it, but they are not required to. Always verify the account number with the recipient before you send, and ask them to confirm it matches their bank records.
Do I need to tell the recipient before I send a wire transfer?
Yes. Tell them the amount, the date you are sending it, and approximately when it will arrive. This way they know to expect it and can confirm when it arrives. It also gives them a chance to double-check that the account information they gave you is correct.
Can I send a wire transfer to a savings account?
Yes. Wire transfers can go to checking accounts, savings accounts, or money market accounts. You need the account number and routing number regardless of the account type.
What is the difference between a wire transfer and an ACH transfer?
A wire transfer is fast (same day or next day) but costs a fee and cannot be reversed. An ACH transfer is slower (three to five business days) but is often free and can be reversed within a certain window. Bank of America offers both; choose based on how quickly you need the money to arrive and whether you can afford the fee.