Fees apply to wire transfers. For international wire transfers, markups are included in Bank of America, N.A. (“Bank of America”, the “Bank”, “we” or “us”) exchange rates. Exchange rates are determined by Bank of America in its sole discretion. Other financial institutions involved may also charge fees and deduct their fees from the amount of the wire transfer. See the Online Banking Service Agreement for details. Data connection required. Carrier fees may apply.
For Consumer international wires: If you send U.S. Dollars to a bank account that is not denominated in U.S. Dollars (“Non-USD Account”), your payment will be converted into the currency of the Non-USD Account (“Local Currency”) by an intermediary bank or the receiving bank (and we may receive compensation in connection with any such conversion). We are not responsible for the exchange rate applied by any intermediary bank or the receiving bank. For Small Business international wires: If you send U.S. Dollars to a Non-USD Account, your payment will be converted to local currency by any bank or service provider involved in processing the transaction. If the Bank converts the currency, we and/or an affiliate will include a mark-up or fee on such currency conversion and may profit in connection with any such currency conversion.
Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
1
Exchange rates fluctuate, at times significantly, and you acknowledge and accept all risks that may result from such fluctuations. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us in our sole discretion based upon such factors as we determine relevant, including without limitation, market conditions, exchange rates charged by other parties, our desired rate of return, market risk, credit risk and other market, economic and business factors, and is subject to change at any time without notice. You acknowledge that exchange rates for retail and commercial transactions, and for transactions effected after regular business hours and on weekends, are different from the exchange rates for large inter-bank transactions effected during the business day, as may be reported in The Wall Street Journal or elsewhere. Exchange rates offered by other dealers or shown at other sources by us or other dealers (including online sources) may be different from our exchange rates. The exchange rate you are offered may be different from, and likely inferior to, the rate paid by us to acquire the underlying currency.
2
For international wire transfers, in addition to our standard wire transfer fee, other fees may also apply, including those charged by the recipient’s financial institution, foreign taxes, and other fees that are part of the wire transfer process.
3
We provide all-in pricing for exchange rates. The price provided may include profit, fees, costs, charges or other mark ups as determined by us in our sole discretion. The level of the fee or markup may differ for each customer and may differ for the same customer depending on the method or venue used for transaction execution.
In connection with our market making and other activities, we may engage in hedging, including pre-hedging, to mitigate our risk, facilitate customer transactions and hedge any associated exposure. Such activities may include trading ahead of order execution. These transactions will be designed to be reasonable in relation to the risks associated with the potential transaction with you. These transactions may affect the price of the underlying currency, and consequently, your cost or proceeds. You acknowledge that we bear no liability for these potential price movements. When our pre-hedging and hedging activity is completed at prices that are superior to the agreed upon execution price or benchmark, we will keep the positive difference as a profit in connection with the transactions. You will have no interest in any profits.
We also may take proprietary positions in certain currencies. You should assume we have an economic incentive to be a counterparty to any transaction with you. Again, you have no interest in any profit associated with this activity and those profits are solely for our account.
You acknowledge that the parties to these exchange rate transactions engaged in arm’s-length negotiations. You are a customer and these transactions do not establish a principal/agent relationship or any other relationship that may create a heightened duty for us.
We do not accept any liability for our exchange rates. Any and all liability for our exchange rates is disclaimed, including without limitation direct, indirect or consequential loss, and any liability if our exchange rates are different from rates offered or reported by third parties, or offered by us at a different time, at a different location, for a different transaction amount, or involving a different payment media (including but not limited to bank-notes, checks, wire transfers, etc.).
FAQs
Send a wire using the U.S. Bank Mobile App
Select External transfers, wires & ACH, then Wire money. Select an account to pay from. Enter the amount you'd like to send.
Can I do a wire transfer through Online Banking? ›
Wire transfers 1 are a quick way to send money domestically or internationally. While you can do both in Mobile Banking 2 and Online Banking, this guided demo will focus on wire transfers sent to domestic recipients in Online Banking. For more information, visit our Wire Transfers page.
Can you do a wire transfer online or over the phone? ›
Domestic wire transfer
Depending on your bank, you may be able to initiate a domestic transfer in a local branch, over the phone or by using a banking app. You'll need to supply the recipient's routing and bank account numbers and their contact information.
Is Zelle a wire transfer? ›
As we've clarified, Zelle relies on ACH payment methods, as opposed to wire transfers. However, the platform also leverages its close connection with network banks to expedite processing making it seem closer to wire transfers in certain applications.
How can I send money through Mobile app? ›
Download for free today.
- Download the free MoneyGram Money Transfer app. It's available on the App Store and Google Play.
- Log into your MoneyGram profile in the app, or create a new one. Enter your information so we can verify your identity.
- Tell us about your receiver. ...
- Choose your payment method. ...
- Complete your transaction.
WIRE TRANSFER MONEY FROM BankMobile to ANOTHER BANK ACCOUNT
- There is a $25 fee for every wire transfer. - $10,000 max limit to transfer to own bank acct. - $1,000 max limit to transfer to another person's bank acct.
What is the difference between wire transfer and online transfer? ›
EFTs usually process funds via an automated clearing house (ACH) while wire transfers are sent directly between one bank and another. Wire transfers have the benefit of being faster and having higher transfer limits than EFT methods, but they carry higher fees and are not reversible.
How much does a bank charge for a wire transfer? ›
Some may not charge anything, depending on the account you have with a bank while others may charge based on incoming and outgoing wires. It's common to see domestic wires costing about $15 and international wires costing between $25 and $50.
What is needed for wire transfer? ›
To send a wire transfer by bank, you will typically be asked to provide the following information:
- Recipient full name.
- Sender full name.
- Recipient phone number.
- Sender phone number.
- Recipient address.
- Recipient bank name and information.
- Recipient checking account information.
If you want to make instant transfers with routing and account numbers without verification, you can rely on money transfer apps such as Zelle, Wise, PayPal, or other digital banking services. These apps make it easy to move money fast using your routing and account numbers.
Modern-day wire transfers can be done online if you choose, and do not require checks or physical cash payments. When an online wire transfer is made, the bank or firm sending your money contacts the receiver's bank to deposit funds into their account.
Can I do a bank transfer over the phone? ›
A bank transfer lets you move money from one bank account to another. It's usually instant, free and done using mobile or online banking, over the phone or in branch.
How to do a wire transfer online? ›
Sending wire transfers
To send a wire transfer, log in to our Mobile app or Online Banking and tap Pay & Transfer. You will need your debit card number, PIN, and U.S. mobile number OR a USB security key. Domestic: You need the recipient's name, address, bank wire routing number (ABA) and account number.
Is Venmo a wire transfer? ›
Nope! Whenever you receive a payment on Venmo, that money is put into your Venmo account. You'll need to initiate a bank transfer to send the funds to your bank account. You can send the money in your Venmo account to your bank using the Standard or Instant method.
Is PayPal considered a wire transfer? ›
PayPal is one of the fastest money transfer services online. It only takes 1-2 business days for the funds to hit your local bank. It's cheaper and faster than Western Union or any other bank transfer service online. A PayPal wire transfer is still one of the quickest and most trusted ways to transact.
How long does a mobile wire transfer take? ›
Final Thoughts. A wire transfer takes less than 24 hours within the US. You may need 1 to 5 days for your international transfers to be credited to your recipient's account. It is also possible to send money instantly using methods like Fedwire.
How much I can transfer through Mobile app? ›
What is the maximum amount of money that can be transferred from one bank account to another using UPI on a single transaction through mobile banking? Normally the maximum limit of UPI transaction is Rs 1 lakh or 10 transactions per bank account within 24 hours basis.
Can I transfer money from my mobile? ›
Send money to someone anywhere in India
On your mobile device, open Google Pay . At the top search bar, search for the receiver's VPA, UPI ID, or phone number. Select the receiver. After you select the receiver, tap Pay.
