Please appreciate that there may be other options available to you than the products, providers or services covered by our service. compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. dollarsWire typeFeeOutbound domestic wire transfer30Outbound international wire sent in foreign currency,0Outbound international wire sent in U.S. Total cost Transfer time Bank of America: 0 (for most accounts) + intermediary fees + exchange rate margin: 1 -2 working days: Wise: 7. Wire transfer is the fastest mode of receiving money in your Bank of America account. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Should I send my wire in foreign currency or U. We may also receive compensation if you click on certain links posted on our site. We may receive compensation from our partners for placement of their products or services. While we are independent, the offers that appear on this site are from companies from which receives compensation. Users are limited to $1,000 per transaction and small businesses can send up to $5,000.į is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. More than the mid-market rate plus margin So if you need to get pounds to someone in the UK, Wise will find someone in the UK looking to send dollars to the US, essentially swapping your funds.īoth Bank of America and Wise will safely get your money where it needs to go, but which is superior on fees, exchange rates and speeds? Read on to find out.įrom 0.41% to 1.5% of your transaction plus a fixed fee The wire transfer fee for business account holders may be different. Fees apply to personal accounts and are in CAD unless otherwise stated. The median wire transfer fee for the institutions we surveyed is 15 for incoming domestic wire transfers, 25 for outgoing. Keep in mind, you may end up paying foreign transaction fees, minimum balance requirements and other costs, in addition to the wire transfer fees. Using peer-to-peer technology, it matches users looking to send money in one currency with customers in other countries looking to receive the same money. Wire transfer fees generally range from 0 to about 50. On the other hand, UK-based Wise is a fundamentally different way to send money online. Offering wire transfers to more than 200 countries, BofA provides secure, convenient money transfers that typically arrive within two business days. When you need to send money overseas, you’ll likely think of visiting a local bank like Bank of America. All international money transfer services.
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