Wire transfers1 are a quick way to send money domestically or internationally. While you can do both in Mobile Banking2 and Online Banking, this guided demo will focus on wire transfers sent to domestic recipients in Online Banking.
For more information, visit ourWire Transferspage.
Mobile Banking Instructions
Screens simulated for illustrative purposes only. Actual experience may differ.
Step 1
Log into Online Banking.
Before you get started, first gather the recipient's information:
Recipient name and address
Recipient's bank information such as SWIFT code
Wire routing number
Bank account number
Account type
If you're not enrolled in Secured Transfer, you'll also need your debit card number and PIN.
Step 2
Select Pay & Transfer to get started.
Step 3
Select Wire/ACH.
Step 4
If this is your first time using this service, read and accept the Service Agreement to enroll.
Step 5
To send money to someone new, select Add Account/Recipient.If you are sending to an existing recipient, proceed to step 15.
Helpful tip! To learn more about sending a wire transfer and what you'll need, visit ourWire Transferspage.
Select International, then choose the countryof your recipient’s bank account and the currencyyou will send. If you don’t know the currency, the transfer will be sent inU.S. dollars.Reminder, this demonstration focuses onInternational Wire Transfers. For Domestic Wire Transfers, navigatehere.
Note: The required information may differ by country and/or bank. For thisdemo, we'll choose Mexico.
Step 7
Add recipient’s information, including their address as on file with their bank. To choose country, select from the drop-down.
Step 8
Now, enter recipient's bank address and account information. Select the bank name, address, and the SWIFT codeor requested bank identifier. Then enter the account numberor requested account identifierlike IBAN or CLABE.
Helpful Tip! You can select different bank identifiers in this section based on your recipient bank country.
Step 9
Check the box to Verify your identitybefore adding your recipient.
Step 10
If youhaven't already, you may be required to enroll in Secured Transferto send your wire. To get started, add your U.S. mobile numberand click Add Number.
Note:Ifyou're already enrolled in Secured Transfer,you'll be prompted to request and enter an Authorization Code to add your recipient. Proceed to step 12.
Step 11
You'll receive a text message with an Authorization Code to complete enrollment. Enter your Authorization Code, then add your ATM/Debit card details. Click Submitto complete the enrollment.
Security Tip!Never share this code with anyone — we'll never call or text you asking for a code.
Select Add Accountand wait for the information to be verified.
Step 13
Please wait. If you close this window prematurely, your recipient may not be added.
Step 14
Once you see this screen, you've successfully added a new recipient. Select the Make Transfer tab to set up a new transfer.
Step 15
Select your "From" account for the transfer and then your "To" recipient. Enter the amount you want to send; the transfer will be sent in the currency you selected for the recipient. If needed, click Change default currency to update currency.
Note: There are no outbound wire transfer fees if sent in foreign currency. Markups are included in Bank of America exchange rates, which are determined by Bank of America in its sole discretion. You may be prompted to request an Authorization Code when your transfer exceeds a certain amount.
Step 16
Select the purpose of the transfer from the drop-down, enter a Description if needed and select Continue.
Step 17
Review the important scam reminder, then click Continue Transfer.
Helpful tip!Always read warning messages. If you’re told to ignore them, it could be a scammer trying to steal your money.
Step 18
Confirmthat all information is correct, then check the box afteryou've read and agreed to the terms, including exchange rate, fees and taxes. SelectMake Transfer. If any info is inaccurate, and you need to make changes, select Cancelto start over.
Step 19
Please wait.If you close this window prematurely, your transfer may not be initiated.
Step 20
Once you see Your transfer is on the way at the top of this screen, your transaction has been submitted, and you'll receive an email confirmation. Funds typically are credited to the recipient withinone to two business days.
Click Print to save this page.
Click the Transfer Activity tab to check the status and details of your transfer.
Step 21
International wire transfers initiated from consumeraccounts will show as Scheduledon the Activity screen and may be canceled within 30 minutes of submission. After 30 minutes, scheduled transfers will show as Processing and cannot be canceled.
Note: Wire transfers sent from small business accounts are immediately submitted for processing and cannot be canceled.
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Log in to Online Banking, go to Pay & Transfer and select Wires/ACH (U.S. or international). To add a new recipient, select Add Account/Recipient. Once added, we'll save the information. Refer to the next page for help on required information.
If you need to send an international wire transfer, visit any U.S. Bank branch. You'll need the following information: Receiving bank's information: The bank's SWIFT code, their name, and address. Beneficiary information: The recipient's name, account number, and address.
Send wire transfers in our Mobile Banking app or Online Banking. Send domestic and international wire transfers in 140+ currencies to over 200 countries. Available in English and Spanish.
There are four main options for sending an international wire transfer: Through your bank's online services. In person at your bank's branch. Over the phone with your bank.
For domestic wires, your routing number. For international wires, they need to use a Swift Code instead of the routing number. U.S. Bank's Swift Code is USBKUS44IMT.
Some banks actually have public-facing fee waiving policies depending on the situation. For example, banks like Chase, TD Bank and Bank of America can all opt to waive wire transfer fees for domestic incoming wires if you have an account with them (in good standing).
Generally, if a wire transfer is worth more than $10,000, it should be reported to the IRS. Still, a few exceptions exist where such transactions do not need to be disclosed. If you have encountered a tax issue, seek assistance from our Dual-Licensed Tax Lawyers & CPAs by calling the Tax Law Offices of David W.
Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.
Their Bank Identifier Code (BIC), SWIFT code or national bank code.Their bank account number or International Bank Account Number (IBAN).Their full name.Their bank's full address.
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