Why do Outbound Wire Transfers made in non-USD have no fee while Outbound Wire Transfers made in USD have a fee at Bank of America?
Why do Outbound Wire Transfers made in non-USD have no fee while Outbound Wire Transfers made in USD have a fee (45 USD this example) at Bank of America? Does that mean that Bank of America uses a bad currency exchange rate or is there any other reason?
Full page screenshot of transfers.bankofamerica.com/jsp/bofa/account_add_ft_df_gen3.jsp?topNavigation=2&subNavigation=22&startEvent=Yes&endEvent=Yes&CEpage=account_add_ft_gen3.jsp:
I have crossposted the question at:
(1)1 Comments
Sorted by latest first Latest Oldest Best
From what I read on qr.ae/pXZuUB, it seems that the guess made in the question is correct:
Bank of America expects to make a "hidden" commission by using a currency exchange rate that is below the currency exchange rate. As a result, to make the outbound wire transfers more attractive, they don't take any upfront fee.
Terms of Use Privacy policy Contact About Cancellation policy © freshhoot.com2026 All Rights reserved.