![]() USD45 + exchange rate markup + potential third party chargesĮxchange rate markup + potential third party charges This means there are no intermediary bank fees to worry about, making the final costs much more transparent. Wise uses the mid-market exchange rate with no markup, and avoids the SWIFT network. Let’s take a look at a quick example - sending a payment of USD1,000 to a friend in the UK.Īs well as the different options from BofA we have also highlighted Wise as an alternative. A quick cost example: sending $1,000 from the US to the UK We’ll cover this in more detail a little later. Intermediary banks get involved when international payments are processed using the SWIFT network. There may be an upfront transfer cost, a markup added to the exchange rate, and third party charges including fees deducted by intermediary banks and the recipient’s own bank, foreign taxes and other related costs. It’s important to know that you may end up paying several different fees for sending money with Bank of America. If you already know the currency your recipient needs, you can choose to have BofA carry out currency conversion on your behalf and send the payment in the required currency automatically. The payment will then be converted into the correct currency for the recipient’s account while it’s being processed. If you don’t know the currency of the account you’re sending money to, you’ll need to choose to send money in USD. The price you pay will vary depending on whether you’re sending money in USD or in a foreign currency. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.Start saving money Bank of America wire transfer feeīank of America recommends that you send your wire transfer online, by logging into your regular online banking page. You may also visit the individual sites for additional information on their data and privacy practices and opt-out options. To learn more about ad choices, or to opt out of interest-based advertising with non-affiliated third-party sites, visit YourAdChoices powered by the DAA or through the Network Advertising Initiative's Opt-Out Tool. Ads served on our behalf by these companies do not contain unencrypted personal information and we limit the use of personal information by companies that serve our ads. Relationship-based ads and online behavioral advertising help us do that.īank of America participates in the Digital Advertising Alliance ("DAA") self-regulatory Principles for Online Behavioral Advertising and uses the Advertising Options Icon on our behavioral ads on non-affiliated third-party sites (excluding ads appearing on platforms that do not accept the icon). We strive to provide you with information about products and services you might find interesting and useful. ![]() Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license. ![]() Please treat Zelle ® payments like cash, once you send the money, you are unlikely to get it back - for example, you do not receive the item you paid for using Zelle ® or the item received is not as described. ![]() Neither Bank of America nor Zelle ® offers a protection program for payments made with Zelle ®. See the Online Banking Service Agreement at /serviceagreement for further details. We will send you an email alert with transaction details after you send money using Zelle ®. Transactions between enrolled users typically occur in minutes and transactions between enrolled consumers do not typically incur transaction fees from Bank of America. checking or savings account and must be made from an eligible Bank of America consumer or business deposit account. Transfers require enrollment in the service with a U.S. We recommend that you do not use Zelle ® to send money to those you do not know. Zelle ® should only be used to send money to friends, family or others you trust. ![]()
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