When sending a domestic bank wire, you will need to provide the recipient’s name, address, bank account number, and ABA number (routing number).
The information you need to supply varies depending on whether you are using a bank provider or a nonbank provider: Though you can send wire transfers to both domestic and international recipients, fees vary according to provider, destination, and the dollar amount transferred. For this reason, wire transfers are often used to pay invoices, to send funds among family, or for real estate transactions.
Though limits vary based on the money transfer provider, they tend to be high. You need to move large amounts of money.Most domestic transfers are processed on the same day, and international transfers are typically completed within a few days (depends on country). You need to complete a transfer urgently.They are popular for international transfers because they are easy to exchange to a foreign currency, if needed. Wire transfers are common for both domestic use in the U.S. The wire transfer can be facilitated by a bank (sometimes referred to as a “bank wire”) or by a nonbank money transfer provider. The sender is the one who provides all the instructions for the transfer, which may include the recipient’s name, bank, account number, amount, and sometimes a pickup location. When speed and simplicity are top priorities for a money transfer, wire transfers may be a good option.Ī wire transfer is a method of transmitting money electronically between people or businesses in which no physical money is exchanged. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.There are numerous options for sending money, such as checks, mobile apps, and electronic transfers, for different types of needs. You may also visit the individual sites for additional information on their data and privacy practices and opt-out options. To learn more about ad choices, or to opt out of interest-based advertising with non-affiliated third-party sites, visit YourAdChoices powered by the DAA or through the Network Advertising Initiative's Opt-Out Tool. Ads served on our behalf by these companies do not contain unencrypted personal information and we limit the use of personal information by companies that serve our ads. Relationship-based ads and online behavioral advertising help us do that.īank of America participates in the Digital Advertising Alliance ("DAA") self-regulatory Principles for Online Behavioral Advertising and uses the Advertising Options Icon on our behavioral ads on non-affiliated third-party sites (excluding ads appearing on platforms that do not accept the icon). We strive to provide you with information about products and services you might find interesting and useful. Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
Please treat Zelle ® payments like cash, once you send the money, you are unlikely to get it back - for example, you do not receive the item you paid for using Zelle ® or the item received is not as described. Neither Bank of America nor Zelle ® offers a protection program for payments made with Zelle ®. See the Online Banking Service Agreement at /serviceagreement for further details. We will send you an email alert with transaction details after you send money using Zelle ®. Transactions between enrolled users typically occur in minutes and transactions between enrolled consumers do not typically incur transaction fees from Bank of America. checking or savings account and must be made from an eligible Bank of America consumer or business deposit account. Transfers require enrollment in the service with a U.S. We recommend that you do not use Zelle ® to send money to those you do not know. Zelle ® should only be used to send money to friends, family or others you trust.