Bank of America Incoming Wire Transfer Fee: What You Need to Know

When it comes to sending and receiving money, wire transfers can be a convenient option. However, these transactions often come with fees, which can add up quickly. If you're looking for information on Bank of America's incoming wire transfer fee, you've come to the right place.

In this article, we'll explore what you need to know about Bank of America's wire transfer fees and how they compare to other banks. We'll also provide a list of 13 banks that offer free wire transfers, so you can find one that suits your needs.

Bank of America Wire Transfer Fees

Like most banks, Bank of America charges fees for incoming wire transfers. The fee varies depending on the type of account you have and the amount being transferred. Here are some general guidelines:

* For personal accounts, the average fee is around $15-$20 per transfer.

* For business accounts, the fee can range from $25-$30 per transfer.

It's worth noting that Bank of America may charge additional fees for international transfers or transfers made in a foreign currency.

Free Wire Transfers: Is It Worth Looking Into?

If you send a lot of wire transfers or they're crucial to your business, it may be worth considering an account with free wire transfers. Some banks offer this perk to customers who open specific accounts or meet minimum requirements.

For example, Citi waives some wire transfer fees for preferred program members and offers free wire transfers for Private Bank accounts. Itibank also waives its wire fees for several relationship bank accounts.

To find a bank that offers free wire transfers, consider the following:

* Look for banks that offer free wire transfers to customers who open specific accounts or meet minimum requirements.

* Check if the bank has any promotional offers or discounts on wire transfer fees.

* Consider opening a business account with a bank that offers free wire transfers.

In conclusion, Bank of America's incoming wire transfer fee can range from $15-$30 per transfer, depending on your account type and the amount being transferred. However, there are other banks that offer free wire transfers, which can save you significant money when you need to transfer funds. By considering an account with free wire transfers, you may be able to avoid these fees and save money in the long run.

If you're looking for a bank with free wire transfers, consider the following 13 banks:

Remember to always check the qualifications and requirements for each bank's free wire transfer offer before opening an account.

Bank of america incoming wire transfer fee