Bank of America review

Bank of America offers international wire transfers for account holders. While convenient for existing customers, rates and fees are significantly higher than specialist transfer services. Founded in 1904 and based in Charlotte, USA, Bank of America is a high-street bank. Bank of America is authorised and regulated by OCC, FDIC, Federal Reserve, which means customer money is safeguarded separately from company funds.

On the fee side, expect $35-$45 per international wire, but the bigger cost is usually the exchange-rate markup of 3% - 5% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $1 up to $100,000 per transaction. Because that markup scales with the amount you send, it is worth comparing the final receive amount rather than the fee alone.

Delivery speed is quoted at 2-5 business days, and the service reaches 200+ countries across 100+ currencies. You can fund a transfer by Bank Transfer, with money delivered via Bank Deposit. The mix of funding and payout options is a good guide to which corridors Bank of America handles best.

On the plus side: trusted major us bank, send from existing account and strong regulatory protection. That makes it a sensible choice for existing customers who value keeping the transfer inside their own bank. Worth keeping in mind: high transfer fees ($35-$45) and poor exchange rates (3%+ markup). As always, run your exact amount and currency through a live comparison before sending — the provider you pick usually affects the final amount more than any single fee.