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. For more information, see the "Applicable Exchange Rate" and "Incoming international wire transfer" sections of the Deposit Account Agreement.įees may be charged by third parties or other banks, in addition to those described above.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. dollars using the applicable exchange rate without prior notice to you. Incoming wire transfers received in a foreign currency for payment into your account will be converted into U.S. We may refuse to process any request for a foreign exchange transaction. Wells Fargo is your arms-length counterparty on foreign exchange transactions. Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks. Different customers may receive different rates for transactions that are the same or similar, and the applicable exchange rate may be different for foreign currency cash, drafts, checks, or wire transfers. The exchange rate Wells Fargo provides to you may be different from exchange rates you see elsewhere. The applicable exchange rate does not include, and is separate from, any applicable fees. The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The exchange rate used when Wells Fargo converts one currency to another is set at our sole discretion, and it includes a markup. Whether or not the wire transfer fee is waived, Wells Fargo makes money when we convert one currency to another currency for you. Account fees (e.g., monthly service, overdraft) may apply to Wells Fargo account(s) with which you use Zelle ®. Your mobile carrier's message and data rates may apply. For more information, view the Zelle ® Transfer Service Addendum to the Wells Fargo Online Access Agreement. To send or receive money with a small business, both parties must be enrolled with Zelle ® directly through their financial institution’s online or mobile banking experience. Payment requests to persons not already enrolled with Zelle ® must be sent to an email address. The Request feature within Zelle ® is only available through Wells Fargo using a smartphone. Neither Wells Fargo nor Zelle ® offers purchase protection for payments made with Zelle ® - for example, if you do not receive the item you paid for or the item is not described or as you expected. For your protection, Zelle ® should only be used for sending money to friends, family, or others you trust. Transactions between enrolled users typically occur in minutes. checking or savings account required to use Zelle ®. Some countries also require you to provide a purpose of payment.Įnrollment with Zelle ® through Wells Fargo Online ® or Wells Fargo Business Online ® is required. New Zealand, Cook Islands, Niue, Pitcairn, and Tokelau: New Zealand Clearing Code.Australia: Australian Branch Code (BSB).If you don’t know it, we'll help you find it on the Add Recipient screen.Ĭertain countries require additional codes as follows: Depending on the country, we may ask you to provide an IBAN when you send an international wire transfer. An IBAN identifies specific bank accounts at international banks. Your recipient’s International Bank Account Number (IBAN).If you don't know it, we'll help you find it on the Add Recipient screen. A SWIFT code or Bank Identification Code (BIC) identifies the bank that will receive your wire transfer. The SWIFT / BIC for your recipient’s bank.To send an international wire, you will also need: If you don’t know it, we'll help you find it on the Add Recipient screen. The routing (ABA / RTN) number for your recipient’s bank.To send a domestic wire, you will also need:
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