Bank of America International Money Transfer: Fees, SWIFT Code & Alternatives (2026)

Bank of America is the second-largest bank in the United States by assets, serving over 69 million consumer and small business clients across more than 3,700 branches and 15,000 ATMs. For millions of Americans, it is the bank where their paycheck lands, where their savings sit, and — by default — where they first look when they need to send money abroad.

That default choice comes with a cost that is easy to miss. Bank of America international money transfer fees are structured in a way that makes the flat fee only part of the picture. A $45 outgoing wire fee in US dollars is what most people see. The exchange rate markup — which Bank of America openly acknowledges but does not quantify upfront — can add considerably more. On a $1,000 transfer to the UK, independent analyses of Bank of America exchange rates have found total costs including the markup as high as $101.

This guide covers exactly what Bank of America charges for international money transfers in 2026, how its fee structure works for different account types, what SWIFT codes to use, how long transfers take, and — critically — when it makes sense to use Bank of America versus a specialist service like Wise, Remitly, or Western Union.

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How Bank of America International Money Transfers Work

Bank of America processes international money transfers through the SWIFT network (Society for Worldwide Interbank Financial Telecommunication), the global messaging infrastructure used by banks in over 200 countries to execute cross-border payments. The bank supports transfers to over 200 countries in more than 140 currencies.

You have three ways to initiate an international transfer with Bank of America:

• Online or mobile app: Via Online Banking at bankofamerica.com or through the Bank of America mobile app. This is the most convenient and typically the cheapest method. The cut-off time for same-day processing is 5:00 PM Eastern Time.
• At a branch: By visiting a Bank of America financial center. A banker assists with the transfer. This method carries a higher fee ($45 vs. $0–$45 online depending on currency) and requires you to provide all recipient details in person.
• By phone: By calling Bank of America customer service. Treated similarly to a branch-initiated transfer for fee purposes.

When sending internationally, you choose whether to send in US dollars or in the recipient’s local currency. This choice significantly affects the total cost, and the decision is not as straightforward as it appears — this is covered in the fees section below.

One important restriction: Bank of America requires you to send international wires in US dollars to the following countries due to local regulations: Colombia, Nigeria, Panama, Somalia, Timor-Leste, Venezuela, and the Palestinian Territories. Foreign currency transfers are not available to these destinations.

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The SWIFT Network and Correspondent Banks

Every Bank of America international wire travels through the SWIFT network, which connects the sending bank to the receiving bank, often via one or more intermediary (correspondent) banks in between. Each correspondent bank in the chain can deduct its own processing fee from the transfer amount before forwarding the remainder.

Bank of America acknowledges this explicitly in its official terms: “For international wire transfers, other fees or amounts 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.” These correspondent fees typically range from $10 to $100 per bank, and there is no way to know in advance how many banks will be involved or how much each will deduct.

This means the total cost of a Bank of America international money transfer has three components: the flat outgoing fee, the exchange rate markup, and any correspondent bank deductions in transit. Only the first is clearly disclosed before you confirm.

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Bank of America International Money Transfer Fees (2026)

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Bank of America Charges for International Money Transfer: The Full Cost Breakdown

Example: $1,000 transfer to the UK (GBP)

USD transfer alternative

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Bank of America SWIFT Code

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Transfer Limits

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Transfer Time

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Bank of America vs Competitors

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Conclusion

Bank of America is convenient but expensive for international transfers. Between flat fees, exchange rate markups, and correspondent bank fees, the total cost is significantly higher than specialist services.

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Before sending money:

• Compare providers
• Check the real exchange rate
• Compare the amount received

Use IdealRemit to find the best option.