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
payments & transfers – mobile banking Send a domestic wire transfer. 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 Mobile Banking.
Can I do a wire transfer through Online Banking? ›
You can usually initiate a bank-to-bank wire transfer in person at your bank or financial institution's local branch or through your online bank account. You'll usually need to provide the recipient's full name, contact information, and bank account details such as routing and transfer numbers.
How to do a wire transfer from bank mobile? ›
Log in to the Mobile app and go to Pay & Transfer. Tap Wire, then Start a wire to initiate your wire transfer. Tap Add new recipient and select either United States or the country where the recipient's account is located. Follow the steps to complete required fields, then tap Add.
Can you do a wire transfer online or over the phone? ›
Wire transfers deliver funds to the recipient's bank account. Proper verification procedures ensure wires are sent safely to the correct recipient. Generally, the sender initiates the process in person, online or by phone.
What is needed for a 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.
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.
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? ›
In general, when it comes to wire transfers, you can expect fees in the region of $15 - $30. Yet there are exceptions, as some institutions offer fee-free wire transfers and others charge more than $30.
Does a wire transfer go directly to your bank account? ›
An electronic funds transfer (wire transfer) is a form of electronic payment that sends money directly from one bank account to another. With an electronic funds transfer, the bank acts as an intermediary for payment. The sender sends the money to their bank.
Can I transfer money through mobile banking? ›
Using Mobile number & MMID (P2P)
IMPS offer an instant,24*7 interbank electronic fund transfer service capable of processing person to person, person to account and person to merchant remittances via mobile, internet and ATMs.
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.
Can I do a wire transfer online with US Bank? ›
Online banking: Select Transfer & pay, choose External transfers & wires, then select, Send a wire. Mobile banking: Select Transfer & pay, choose External transfers, wires, & ACH then select, Wire money. Tell us about the wire you'd like to make.
Can you do a wire transfer on a mobile app? ›
Use the Chase Mobile® app to send wire transfers:
Tap Pay & transfer in bottom menu. Choose "Wires and global transfers" Read the terms and conditions, mark the checkbox to accept and tap "Next." Choose your checking account and tap "Next."
Am I able to do a wire transfer online? ›
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.
How do I transfer money to someone by phone? ›
With Western Union, you can send money to your loved one's phone using their mobile phone number. Western Union sends money to a mobile phone through a mobile wallet1, linked to the phone number of your loved ones. To make sure you transfer money to the desired recipient, make sure you enter the correct phone number.
Can I wire money remotely? ›
Can you do a wire transfer online? You can do a wire transfer online. Many banks allow you to wire money directly from your account, both domestically and internationally. Wire transfer services such as Western Union and MoneyGram also allow online transfers.
How to do a wire transfer from Chase Mobile app? ›
Here's how to send a domestic wire transfer:
- After signing in, tap "Pay & Transfer"
- Tap "Wires & global transfers"
- Choose or add your recipient and tell us the account you would like to wire funds from.
- Enter the wire amount and date, then tap "Next"
- To complete, review details and tap "Schedule Wire" then "Close"
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.
Can I transfer money from my phone? ›
Google Pay
You simply sign up for a Google account, add your credit or debit card as a payment and send or receive money in minutes. Google Pay allows users to transfer money and pay for purchases by: Text to mobile numbers.
