How to make an International Wire Transfer with Bank of America

Summary

This video guides viewers through the steps of sending an international wire transfer using Bank of America's online banking. It outlines essential preparations, such as gathering recipient information, enrolling in the service, and securely verifying identity. Users learn how to add a new recipient, input necessary details, and make the transfer while ensuring all information is correct. The video emphasizes the importance of not closing the processing window and explains post-transfer options, including cancellation within 30 minutes. Overall, it provides a clear, step-by-step approach for transferring money internationally.

Takeaways

• 😀 International wire transfers can be made quickly and securely using Bank of America's online banking.
• 🌍 Transfers are available in over 140 currencies to more than 200 countries.
• 💻 Before starting, gather all necessary recipient information, including their name, address, and bank details.
• 🔒 Verify your identity using a Secured Transfer mobile number or a USB Security Key before adding a recipient.
• 💰 You can select the currency of the recipient's account or choose to send U.S. Dollars.
• 📋 Fill out the required fields accurately, including the purpose of the transfer.
• ⚠️ If transferring above the standard limit, additional authentication may be required.
• ✅ Review all details on the confirmation screen before submitting the transfer.
• 📧 After the transfer is processed, you will receive an email confirmation with a reference number.
• ⏳ You have 30 minutes to cancel the transfer for a full refund if necessary.

Q & A

What is the main purpose of the video?

The video provides a step-by-step guide on how to send an international wire transfer using Bank of America's online banking system.

What information do I need to prepare before starting the wire transfer?

You should have the recipient's name, address, account number, currency of the account, bank name, and bank's street address.

Can I send money in currencies other than US dollars?

Yes, Bank of America allows international wire transfers in over 140 currencies.

What should I do if I’m sending money to a new recipient?

You need to click 'Add account/recipient' and verify your identity using an enrolled mobile number or USB Security Key.

How do I select the currency for the transfer?

After selecting 'International', you will be prompted to indicate if you know the currency of the recipient's account. If yes, you can select it; otherwise, the transaction will be sent in US dollars.

What happens after I add a recipient's account?

The system will verify the account information. You will see a processing screen while this happens.

Is there a limit on the amount I can transfer?

Yes, if you're sending above the standard transfer limit, you'll be prompted for additional authentication.

What should I do if I need to cancel the transfer?

You can cancel the transaction within 30 minutes for a full refund if it’s from your consumer deposit account.

How will I know if my transfer was successful?

You will receive an email confirmation with a confirmation number once the transfer is processed.

Where can I find more information about wire transfers?

You can visit bankofamerica.com and search for 'wire transfer' for more details.