Hours of operation for Bank of America branches in Canada are from 9 am to 5 pm on weekdays.
Some branches can work later and on weekends.
You can find more detailed information at the phone number: 0-1-315-724-4022.
International Wire Transfer Limits
Bank of America typically imposes a $1,000 limit per transaction for online international wire transfers for personal account holders. For business accounts, the limit may be higher, around $5,000 per transaction. However, these limits can vary based on account type and customer status. To send larger amounts, customers may need to visit a branch, where higher limits could be available depending on account type and customer status. Additionally, customers can increase their online transfer limits by adding extra security measures, such as registering for a USB security key or activating one-time passcodes sent to their mobile device.
Wire Transfer Fees
Bank of America's wire transfer fees vary depending on the type of transfer and currency:
- Domestic Wire Transfers: $30 for outgoing transfers and $15 for incoming transfers.
- International Wire Transfers in U.S. Dollars: $45 for outgoing transfers.
- International Wire Transfers in Foreign Currency: No direct fee; however, exchange rate markups apply, which can impact the total cost. For example, a $1,000 transfer internationally could cost $45 plus additional fees in the currency conversion. Customers with Private Bank or Merrill accounts may have these fees reduced or waived.
Processing Times
International wire transfers initiated from consumer accounts are typically credited to the recipient within 1 to 2 business days. However, processing times may vary depending on the destination country, currency selected, and the receiving bank's processing times. Transfers sent in foreign currency may take longer due to additional processing requirements.
Required Information for International Wire Transfers
To initiate an international wire transfer, customers need to provide the following information:
- Recipient's name and address
- Recipient's bank name, address, and SWIFT/BIC code
- Recipient's account number or International Bank Account Number (IBAN), depending on the destination country
- Amount to be sent and currency type
- Purpose of the transfer
Note that some countries may require specific bank identifiers, such as Canada's Transit Code or India's IFSC code, and/or recipient details. It's essential to verify the required information based on the destination country.
Sending International Wire Transfers
Customers can send international wire transfers through Bank of America's Online Banking or Mobile Banking platforms. The process involves logging in to the respective platform, selecting the "Pay & Transfer" option, and following the on-screen instructions to add a recipient and initiate the transfer. For first-time users, enrollment in Secured Transfer may be required, which involves verifying identity and adding a U.S. mobile number for enhanced security.