What a wire transfer is and when to use it

A wire transfer is a way to send money directly from your Bank of America account to someone else's bank account, anywhere in the United States or abroad. The money moves electronically and usually arrives the same day or next business day. Wire transfers are faster than mailing a check, but they cost money — Bank of America charges a fee for each one you send.

Use a wire transfer when you need money to reach someone quickly and you know their bank account details. Common reasons include paying a deposit on an apartment, sending money to family in another country, or paying a contractor who requires it. Do not use a wire transfer for everyday purchases — that is what your debit card is for.

Wire transfers are permanent once sent. You cannot cancel one after it leaves your account, so double-check the account number and routing number before you confirm. If you send money to the wrong account by mistake, you will have to contact that bank and ask them to return it, which may not work.

Key Takeaways

  • Bank of America charges a fee for domestic wire transfers (within the US) and a different, usually higher fee for international wire transfers.
  • You will need the recipient's full name, bank name, account number, and routing number before you start — ask them to provide all four pieces of information.
  • You can send a wire transfer online through your Bank of America account, by phone, or in person at a branch, and each method takes roughly the same amount of time to set up.
  • Domestic wire transfers usually arrive the same business day if you send them before your bank's cutoff time, typically mid-afternoon.
  • Once you send a wire transfer, you cannot cancel it, so verify the account details are correct before you confirm.

How to send a wire transfer online

Log into your Bank of America account on the website or mobile app. From the main menu, look for "Transfer money" or "Payments" — the exact wording depends on which version you are using. Select "Wire transfer" from the options that appear.

Choose whether you are sending money within the United States (domestic) or to another country (international). Bank of America will show you the fee for that type of transfer before you proceed. Enter the recipient's information: their full name, the name of their bank, their account number, and their bank's routing number. If you are sending money internationally, you may also need the bank's SWIFT code, which is a code that identifies banks outside the US.

Enter the amount you want to send. Review all the information on the confirmation screen — especially the account number and routing number — because you cannot change it after you submit. When everything looks correct, click "Confirm" or "Send." Bank of America will show you a confirmation number. Write it down or take a screenshot.

Sending a wire transfer by phone or in person

If you prefer not to use the website or app, you can call Bank of America's wire transfer line at 1-800-869-3557. Have the recipient's information ready before you call. A representative will walk you through the same questions the online form asks: the recipient's name, bank name, account number, and routing number. They will tell you the fee and ask you to confirm before processing the transfer.

You can also walk into any Bank of America branch and ask to send a wire transfer. Bring a photo ID and the recipient's banking information. A teller will help you fill out a wire transfer form and process it on the spot. This method takes longer than online or phone because you have to travel to the branch and wait, but some people prefer it because they can ask questions face-to-face.

Understanding wire transfer fees and timing

Bank of America charges a fee for every wire transfer you send. The fee for a domestic wire transfer (within the US) is different from the fee for an international wire transfer, and the amount changes periodically. Check your account or call the bank to find out the current fee before you send.

Domestic wire transfers usually arrive the same business day if you send them before the bank's cutoff time. The cutoff is typically in the mid-afternoon, but it varies by day and by whether you are using the website, app, or phone. If you send a wire transfer after the cutoff or on a weekend, it will process the next business day. International wire transfers take longer — usually three to five business days — because the money has to move through multiple banks in different countries.

What information you need from the recipient

Before you can send a wire transfer, you need four pieces of information from the person or business receiving the money. Ask them to provide all of it in writing so you can copy it exactly.

Full name: The name on the bank account, spelled correctly. If the account is in the name "Robert James Smith," do not shorten it to "Bob Smith."

Bank name: The full name of the bank where they have the account. "Chase" is correct; "my bank" is not.

Account number: The number of the specific account where the money should go. This is usually 8 to 17 digits long.

Routing number: A nine-digit code that identifies the specific branch of the bank. For international transfers, you may need the SWIFT code instead, which is a code that identifies the bank outside the US.

If any of this information is wrong, the money may go to the wrong account or the transfer may fail. If it fails, Bank of America will usually return the money to your account within a few business days, but you will still be charged the wire transfer fee.

What happens if something goes wrong

If you realize you made a mistake before the wire transfer is sent, call Bank of America right away. If the transfer has already left your account, you cannot cancel it. Instead, you will need to contact the receiving bank and ask them to return the money. Provide them with the confirmation number Bank of America gave you. The receiving bank is not required to return the money, but most will if you ask quickly and explain the mistake.

If the wire transfer fails — for example, because the account number was wrong — Bank of America will send the money back to your account. This usually takes a few business days. You will still be charged the wire transfer fee, even though the money did not reach its destination.

If you sent money to the wrong person or business on purpose, you have almost no recourse. Wire transfers are designed to be permanent, and banks treat them that way. This is why it is so important to verify the account details before you send.

Frequently Asked Questions

How long does a wire transfer take?

Domestic wire transfers (within the US) usually arrive the same business day if you send them before the bank's cutoff time, which is typically mid-afternoon. If you send after the cutoff or on a weekend, the transfer processes the next business day. International wire transfers take three to five business days because the money moves through multiple banks in different countries.

Can I send a wire transfer to a savings account or only a checking account?

You can send a wire transfer to either a checking or savings account. The type of account does not matter — you just need the account number and routing number. Ask the recipient which type of account they want the money sent to, and they will give you the correct account number for that account.

What is the maximum amount I can wire?

Bank of America does not publish a single maximum wire transfer amount. Limits depend on your account history, account type, and the bank's fraud prevention rules. If you are sending a large amount, call the bank first to make sure your account can handle it. They may ask you questions about where the money is going and why.

Do I need to tell the recipient I am sending a wire transfer?

Yes. Let them know you are sending the money, roughly when it will arrive, and the amount. This way they know to expect it and can watch for it in their account. If the money does not show up by the time they expect it, they can contact their bank to investigate.

Can I send a wire transfer to someone without a bank account?

No. A wire transfer requires a bank account number and routing number. If the person does not have a bank account, you will need to use a different method to send them money, such as a money order or a service like Western Union.