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. 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 layer powered by the DAA or through the Network Advertising Initiative's Opt-Out Tool layer. 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. If you do not know or are unsure of the type of currency being received please use BOFAUS3N. Bank of America's SWIFT code BOFAUS6S should be used for incoming wires in foreign currency. Here’s a list of exactly what you need from the recipient in order to wire money online. Bank of America's SWIFT code BOFAUS3N should be used for incoming wires in U.S. 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). Get the recipients wire information (bank details) The first step is to collect the recipient’s wire information. We strive to provide you with information about products and services you might find interesting and useful. Please note that in the event you provide an incorrect account number or institutional identifying number, and we are not able to recover the funds, you may lose the amount of the payment order. You may ask for copies of any documents we used in our investigation. If we decide that there was no error, we'll send you a written explanation. We'll tell you the results within 3 business days after completing our investigation. We'll determine whether an error occurred within 90 days after you contact us and we'll correct any error promptly. The confirmation code (provided from the Transfer Receipt) The name of the person receiving the funds, and if you know it, his or her telephone number or address The problem with the transfer, and why you believe it's an error Your name and address (or telephone number) Please have the following information handy: This means you'll be able to use Wise to receive money like a local in the US (and other currencies), making it an excellent online account for this purpose.Contact us at 877.337.8357 (or 302.781.6374 from outside of the U.S.).įor international wires initiated by a consumer primarily for personal, family or household purposes, you must contact us within 180 days of the date we indicated to you that funds would be made available to the recipient. What's more, you'll be able to send, hold, spend, and receive US dollars and other foreign currency at the mid-market exchange rate with low, transparent fees. Using a Wise Account (available in the US), you'll get local bank account details for 10 different currencies. It's called the Wise Account and it's available for both individuals and businesses. Luckily, a much better alternative exists to save money when receiving money in the US from abroad. With costs like this, you'd easily receive $50 to $100 less per $1,000 sent than you would've had transferred at the real, mid-market exchange rate. Compare now on Monito's real-time comparison engine to find the cheapest way to send to any Bank of America account in the US:Īre you expecting a transfer from abroad and is the sender asking you to provide a Bank of America SWIFT/BIC code? Then you're likely going to receive less than you should because of the high international bank transfer fees and bad exchange rates that are usually applied by the senders' bank.įor example, a typical foreign bank will charge between 5% and 10% in total fees for sending a $1,000 equivalent to the US. Using a digital money transfer provider, not only could you up to 95% in fees compared to the bank, but you'll also be able to send money more quickly to your beneficiary's account at Bank of America. At Monito, we analyzed the cost of sending money with around 50 major banks in eight countries around the world, and we can confidently say that we don't recommend using your bank to send money to the US.Īdditionally, bank transfers via the SWIFT network tend to take quite long (between one and five business days on average), meaning they're not a good option if you want to make a speedy transfer.įortunately for you, much smarter alternatives exist. This is because fixed international bank transfer fees, bad exchange rates, and correspondent banking fees can stack up very quickly. If you're sending money internationally to a Bank of America bank account in the US through your local bank, the transaction will likely be much pricier than it ought to be.
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