Transfer Mone
  • Home
  • Checking Account
    Checking AccountShow More
    Ally Bank Checking Account
    Best Ally Bank Checking Account Reviews
    December 8, 2022
    chase college checking account
    Chase College Checking Account | Fees, Bonus, Eligibility
    November 28, 2022
    Chase Checking Account Bonus
    Chase Checking Account Bonus 2023
    November 25, 2022
    U.S. Bank checking Account
    U.S. Bank Checking Account Reviews
    November 19, 2022
    Golden 1 Checking Account 
    Overviews of Golden 1 Checking Account 
    November 7, 2022
  • Online Banking
    Online BankingShow More
    best personal loans for fair credit
    Best Personal Loans for Fair Credit 2023
    January 7, 2023
    bank promotions without a direct deposit
    The 9 Best Bank Promotions Without Direct Deposit Requirements
    December 5, 2022
    Zero Interest Personal Loans
    Best Ways To Get Zero Interest Personal Loans
    December 1, 2022
    Wells Fargo Personal Loans
    Overviews of Wells Fargo Personal Loans
    November 16, 2022
    Best Low-Interest Personal Loans
    Best Low-Interest Personal Loans Reviews
    November 13, 2022
  • Money Transfer APPs
    Money Transfer APPsShow More
    capital one ach transfer
    The Best Way For Capital One ACH Transfer Process
    September 18, 2022
    Walmart Accept Apple Pay
    Walmart Accept Apple Pay – Is It Really True
    August 28, 2022
    How to Add Cash to Cash App Card
    How to Add Cash to Cash App Card – The Best Guide For You
    August 22, 2022
    cash app instant transfer fee
    A Key Discussion On Cash App Instant Transfer Fee
    July 25, 2022
    jpay send money to inmate
    JPay Send Money To Inmate – The Entire Method
    June 29, 2022
  • Credit Union
    Credit UnionShow More
    credit unions in georgia
    5 Best Credit Unions in Georgia 2023
    January 27, 2023
    Credit Union in New Jersey
    Best Credit Union in New Jersey 2023
    January 19, 2023
    Best Credit Unions in Washington
    Best Credit Unions in Washington 2023
    January 14, 2023
    TD Bank Secured Credit Card
    The Best TD Bank Secured Credit Card & Alternatives
    October 27, 2022
    Huntington Bank Credit Card
    The Best Huntington Bank Credit Card Reviews 2022
    October 18, 2022
Search
© 2022 Transfer Mone. All Rights Reserved.
Reading: Real Method To Do Bank of America International Wire Transfer
Aa
Aa
Transfer Mone
Search
  • Home
  • Checking Account
  • Online Banking
  • Money Transfer APPs
  • Credit Union
© 2022 Transfer Mone. All Rights Reserved.
Transfer Mone > Online Banking > Real Method To Do Bank of America International Wire Transfer

Real Method To Do Bank of America International Wire Transfer

September 30, 2022

The Bank of America Corporation is a financial services company with headquarters in Charlotte, North Carolina, USA. The bank, known as the Bank of America and abbreviated as BofA or BoA, was founded in San Francisco. Upon the NationsBank of Charlotte acquisition in 1998, the bank took its present form and is now the second-largest financial company in the United States, after JPMorgan Chase. We shall see how you can use its services, including the Bank of America international wire transfer.

For your information, the Bank of America is the eighth largest bank in the world. Again, the Bank of America is one of the big four banks of the United States and serves approximately 10.73% of the overall American bank deposits. The bank’s primary financial services are mainly from wealth management, commercial banking, and investment banking. To get started with the bank’s services, you have to create an account online or physical store.

A bank is significant when it comes to sending and receiving money. If you are employed, you can use a bank account to receive your salary or government benefits. It is almost impossible to survive without a bank account in this era, considering that transactions are mainly electronic. Even the mobile money wallets such as PayPal, Payoneer, Venmo, GPay, among others, depend significantly on banks. The Bank of America is among the banks that work with various mobile money wallets.

The Way To Get Started With The Bank of America

To start using the bank’s services, you only need to open a bank account, and you are good to go. You can choose

  • The Bank of America Advantage Banking Account
  • Savings account such as Bank of America Advantage Savings or Child Savings Accounts
  • CD accounts such as Featured CD or Standard Term CD
  • IRAs, e.g., Bank of America IRAs or Merrill Edge® IRAs

Once you choose the kind of bank account, you would like to open. You can then navigate to the account opening page and enter your details and verify the information. After that, you can choose features & funding options. Once you submit your entire application, you will get an email to notify you that your application has been received.

A follow-up email will follow afterward to tell you whether your account has been approved. If approved, you will get information on the next steps. The bank of America accounts application processing happens in 1 to 2 business days.

Your account documents will arrive via US Mail within 7-10 working days. When applying for the BofA account, you require the following.

  • Identification document
  • Social Security number
  • Current residential address
  • Email address
  • An account number or debit card number from your current bank to make your first deposit into your new Bank of America account
  • Co-applicant’s details (if applicable)

As I have just mentioned above, you can use another bank account to make your initial deposit. You can even use an existing Bank of America account to transfer money using the routing number and account number of your new bank account. You can also use a money order, debit card, check to make your initial deposit.

Another important thing is the signature form that allows the Bank of America to service your bank account. You have to sign and mail the signed form to the Bank of America as soon as possible. If there are any co-applicants, they should sign the signature form as well. The signatures help the bank to verify your identity and report your tax information.

Things You Need To Open A Bank Account With Bank of America

bank of america international wire transfer

It is possible to open a bank account with the Bank of America. If you hold a US visa card and currently living in the US, you can open an account at one of the BofA financial centers. You will need to provide your permanent (foreign) and local address plus your ITIN (Individual Tax Identification Number). Additionally, you will need to bring the following.

i) Proof of US residency

It includes a US government-issued ID photo, student/employer ID, and documents showing your name and a US physical address. You can bring a current utility bill to prove your address.

ii) One secondary ID

It can be your foreign or US driver’s license (plus a photo), major retail credit card from a nationally well-known company, student/employer ID (plus a photo), major debit or credit card with Visa® or Mastercard® logo, US Department of State Diplomat ID.

iii) One primary photo ID

This can be a U.S. Non-Immigrant visa and Border Crossing Card-DSP-150, foreign passport (with or without passport visa), Canadian Citizenship card (with photo), Guatemalan, Mexican, Dominican, or Colombian Consular ID (must have a photo).

Details Of Wire Transfer

A wire transfer refers to an electronic payment service for transferring funds between banks. For example, when you carry out a transfer through the Federal Reserve Wire Network SWIFT or the Clearing House Interbank Payments System, then that is a wire transfer.

Wire transfers allow you to move money both within the country and internationally. You can carry out a domestic or an international wire transfer. For example, when you transfer money from Bank of America to Chase, you will have carried out a domestic transfer since Chase and BofA are within the US.

Domestic wire transfers are quick and cheaper compared to international wire transfers. Domestic wires are processed within 24 hours, while international transfers can take days to complete.

Method To Do A Bank of America International Wire Transfer

A wire transfer allows you to carry out an instant transfer between banks. It is different from the ACH transfer in that funds move as soon as you hit the send button, while funds take a bit longer to transfer for ACH transfer. Again, while most ACH transfers are free, wire transfers attract substantial amounts of fees.

Wire transfers are for both domestic and international transfers. When carrying out an international transfer, you have to sign in to the ‘Online Banking layer’ and choose the ‘Using their account number at another bank link,’ which you can quickly locate at the ‘Send Money to Someone section of the ‘Transfers navigation menu’ and follow the guidelines. Before starting, ensure you have the correct recipient bank details to carry out the Bank of America wire transfer successfully.

International wire transfers usually reflect at the recipient’s bank in 1 to 2 business days if sent by 5 p.m. ET. Again, the wires are available to over 200 countries in over 140 currencies. You can be sure that sending wires is secure and convenient.

Ways To Receive A Wire Transfer Using The Bank of America

Apart from sending wires to recipients of other banks, you can also receive wire transfers into your bank of America account from other banks. When receiving a wire transfer into your bank of America, you should provide the sender with your SWIFT Code on top of your account and routing numbers. The Bank of America has two primary SWIFT Codes. They include:

  • BOFAUS3N (to receive US dollars or unknown currencies) Bank of America, NA 222 Broadway New York, New York 10038.
  • BOFAUS6S (to receive foreign currencies) Bank of America, NA 555 California St San Francisco, CA 94104.

You can always let your senders use BOFAUS3N if you are unsure of the currency they are sending to your account.

Remember that you can receive wires from prepaid card accounts. You will have carried out a wire transfer if you transfer money from a prepaid card to a bank account.

Is It Possible To Cancel A Bank of America Wire Transfer

Most financial companies do not allow you to cancel a wire transfer. However, BofA allows you to cancel a wrong transaction when you log into your online banking account, choose the transaction to cancel, and follow instructions. You can also contact the bank via 877.337.8357. If you are outside the US, you can call the bank at 302.781.6374.

Final Words

The Bank of America Corporation is a financial services holding company headquartered in Charlotte, North Carolina, USA. You can open an account with the Bank of America online or at a physical branch. The bank is among the big four banks of America and serves millions of Americans. You can do various kinds of transactions with the bank, including sending and receiving wire transfers.

You Might Also Like

Best Personal Loans for Fair Credit 2023

The 9 Best Bank Promotions Without Direct Deposit Requirements

Best Ways To Get Zero Interest Personal Loans

Overviews of Wells Fargo Personal Loans

Best Low-Interest Personal Loans Reviews

By Spencer Tierney
Follow:
Spencer Tierney is a writer and expert on certificates of deposits at transfermone.com. His work has been featured by USA Today, MSN, SF Gate, the Los Angeles Times, NerdWallet and more. He earned a bachelor’s degree in English at UC Berkeley.

© 2022 Transfer Mone. All Rights Reserved.

  • Home
  • Privacy Policy
  • About Me
  • Contact
Welcome Back!

Sign in to your account

Lost your password?