If you’re about to send a payment to someone within the US, or overseas, you’ll want to know the Bank of America®¹ wire transfer limit which will apply to your transaction.
Limits can vary depending on the type of transfer you need to make, where it’s headed and exactly what account type you have with BoA. So, read on - we have you covered if you’re wondering: what is my online transfer limit per month for Bank of America, or how much can I send in a single transfer with BoA?
Bank of America's transfer limits overview
Bank of America transfer limits depend on where you’re sending money to and which payment network you want to use. Different payment types have their own limits - and their own fees, which you’ll want to check up on.
As a starter, let’s look at the Bank of America transfer limits for a couple of common options to send money within the US - Zelle® and ACH²:
| Period | Zelle limit | ACH |
|---|---|---|
| Daily | 3,500 USD | Variable between account type |
| Weekly | 10,000 USD | Variable between account type |
| Monthly | 20,000 USD | Variable between account type |
| Per transaction | Not applicable | 1,000 USD |
Bank of America's international transfer limits
Here’s a quick overview of the limits you’ll meet when sending money overseas with Bank of America.
As you’ll see, the limits to send a digital payment can be pretty low, and you’ll need to head into a branch or add extra security features to your account to increase your digital payment limits.
If that’s too much hassle, you could also choose to send your money with an alternative which may allow higher value secure transfers more conveniently - like Wise. Compare Bank of America’s online international transfer limits with Wise transfer limits here.
| Period | International wire limit |
|---|---|
| Per transaction in a branch | Varied by account type³ |
| Per transaction online | 1,000 USD - there are some ways you can extend this limit which we will explore later |
How can you check your Bank of America transfer limits?
The Bank of America wire transfer limits and any other applicable limits for your specific account can be found online or in your mobile banking service.
When you initiate an ACH or wire from within your digital banking service, you can see the limit which applies to that payment type by clicking the From option, which has a dropdown list with all the information you need.
How can you increase your transfer limits at Bank of America?
The limits to send international wires with Bank of America do depend on the exact account you have. In-branch limits may be higher than online.
If you want to avoid the hassle of going to a branch you can increase your online transfer limit with Bank of America by setting your account to receive a one-time passcode on your mobile device or register a USB security key⁴.
You can also apply for higher transaction limits if you’re a Bank of America Private Bank, or Merrill account holder.
Temporary vs permanent limit increases
Depending on the specific account you have with Bank of America you may be able to opt for either a permanent increase to your transfer limits, or a temporary one. You’ll need to talk to a Bank of America staff member to discuss the options available, based on your specific account type and tier.
What are your online transfer limits with Bank of America?
Online, you can send up to 1,000 USD in a single transaction with Bank of America. This can be either an ACH, or a domestic or international wire payment. There may be options to increase your limits by adding extra security measures to your account, or by upgrading your account to a higher tier within Bank of america.
What’s the best way to send money internationally?
Banks are certainly one option for sending money internationally, as are services like PayPal. But the problem with banks is they can often be slow, expensive and inconvenient. Luckily, there’s a better alternative out there.
You can send money worldwide with Wise for low fees and the mid-market exchange rate. It’s easy and quick to set up a payment online, and you’re guaranteed secure transfers even when sending large sums.
Wise is a money service business (MSB) regulated by 12 international financial authorities, and uses sophisticated security features to keep you and your money safe.
Open a Wise account, and you can send, spend and convert between 40+ currencies whenever you need to. You can even receive money from all over the world using your own local account details.
As if all that wasn’t enough, there’s a Wise debit card too. For a one-time fee of just $9, you can spend in over 150 countries in the local currency. Your USD is automatically converted at the mid-market rate, for just a small conversion fee*.
Open a Wise account today
💡 Need to make a business payment? With the Wise Business account, you can send up to 1,000,000 USD per transfer from licensed states.
| Some key features of Wise Business include: |
|---|
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Discover the difference between Wise Business vs Personal
What are Bank of America's transfer fees and charges?
The fees you pay to transfer money with Bank of America can vary based on your account type and your customer status. As an example, here are the fees you’ll pay if you have the popular Bank of America Advantage Plus checking account:
| Transfer type | Bank of America fee⁵ |
|---|---|
| Outgoing domestic TT | 30 USD Some waivers available for Diamond and Diamond Honors customers |
| Outgoing foreign TT in foreign currency | No fee from BoA - exchange rate markups may apply |
| Outgoing foreign TT in USD | 45 USD Some waivers available for Diamond and Diamond Honors customers |
| Incoming domestic or international TT | 15 USD Some waivers available for Diamond and Diamond Honors customers |
Things to keep in mind when transferring high amounts
If you’re sending a lot of money, either domestically or internationally, it can be a bit daunting. Here are a few things to bear in mind to make sure the process is as stress free as possible:
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Transfer limits FAQ
What happens if you exceed your Bank of America transfer limit?
If you exceed the limit for an online payment with Bank of America you won’t be able to confirm the transfer, and the payment will not be processed. You can either break down the transfer into smaller individual payments, or head to a branch to place a higher value payment.
Are there any fees associated with exceeding transfer limits or requesting limit increases?
There’s no fee to extend your Bank of America limit if this option is open to you by using a USB or other enhanced security measure with your standard checking account. You can also increase your limit by upgrading to a different account type - in this case, costs or minimum balance amounts may apply.
How often do Bank of America transfer limits reset?
For Zelle transfers, limits reset daily, weekly and monthly. For online payments, Bank of America mainly uses a per transaction limit. However, other limits may also apply which you can see by logging into your online banking service.
Make sending a payment locally or overseas less of a hassle by understanding the different Bank of America transfer limits which may apply based on your account type.
This guide has all you need to get you started - and there’s plenty more detail for your specific account if you log into your Bank of America mobile or online banking service.
Sources:
- Bank of America
- Bank of America online service agreement
- Bank of America wire transfer FAQ
- BoA USB security key
- Bank of America - Advantage Plus banking fees
Sources checked on 05.23.2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information. This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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