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Understanding the Table:
The comparison table above helps you see the total cost of your Bank of America currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Bank of America uses different bank codes depending on the currency and location of the sending bank. Here are some of the most common bank codes used for receiving foreign wire transfers:
SWIFT Code: BOFAUS3N: This code is used for receiving wire transfers in U.S. dollars from foreign banks.
ABA Routing Number: 026009593: This code is used for receiving wire transfers in U.S. dollars from banks located within the United States.
CHIPS UID: 0959: This code is used for receiving wire transfers in U.S. dollars from foreign banks that are members of the Clearing House Interbank Payments System (CHIPS).
Fedwire ABA Routing Number: 026009593: This code is used for receiving wire transfers in U.S. dollars from banks located outside of the United States.
It's important to note that specific bank codes may vary depending on the currency and location of the sending bank, and it's recommended to confirm the correct codes with Bank of America before initiating a wire transfer. Additionally, Bank of America may charge fees for receiving wire transfers, so it's important to check the current fees and policies before initiating a transaction.
Bank of America offers several credit cards with different foreign transaction fees. Here are some examples:
Bank of America Travel Rewards Credit Card: This card charges no foreign transaction fees, making it a good option for travelers who frequently make purchases in foreign currencies.
Bank of America Premium Rewards Credit Card: Similar to the Travel Rewards Credit Card, this card also does not charge foreign transaction fees.
Bank of America Cash Rewards Credit Card: This card charges a foreign transaction fee of 3% of each transaction in U.S. dollars.
Bank of America Business Advantage Cash Rewards Mastercard: Similar to the Cash Rewards Credit Card, this card also charges a foreign transaction fee of 3% of each transaction in U.S. dollars.
Bank of America Business Advantage Travel Rewards World Mastercard: This card charges no foreign transaction fees.
It's important to note that credit card terms and conditions can change, so it's always a good idea to check the current fees and policies before applying for or using a credit card for foreign transactions.
If you wish to save on exchange rates and foreign ATM fees then you should consider the Wise multi-currency card.
How much does it really cost to live, work, or travel in ? Here's what to expect for daily expenses and expat living.
Traveling to Australia: How Much Should You Bring?
For travelers planning a 1-week mid-range stay in Australia, a budget of around AUD 1,500 to AUD 2,200 should suffice, covering most everyday expenses. In Australia, typical daily costs include AUD 20-30 for a meal at a mid-range restaurant, about AUD 4 for a cup of coffee, and AUD 4.60 for a one-way public transport ticket in cities like Sydney or Melbourne. A prepaid SIM card with adequate data might cost around AUD 15-20, while budget accommodations such as hotels or Airbnb can range from AUD 100 to AUD 150 per night. Compared to visiting the United States, where daily expenses and accommodation can be quite similar, Australia leans towards being moderately expensive. When juxtaposed with Singapore, Australia is notably more budget-friendly, as Singapore's costs are relatively higher, particularly for accommodations and dining.
Typical daily costs in Australia:
• 🥘 Meal at a local restaurant: AUD 20–25
• ☕ Coffee: AUD 4–5
• 🚌 Public transport fare: AUD 5–10
• 📱 Prepaid SIM card (7 days): AUD 10–20
• 🛏️ Budget hotel or Airbnb: AUD 100–150 per night
Living in Australia: A Guide for Expats
For expats settling in Australia, expect typical monthly living costs to range from AUD 3,000 to AUD 4,500, depending on lifestyle choices and city of residence. Rent is a significant variable, with average monthly rent for a one-bedroom apartment in a city center costing around AUD 2,000 or more. When it comes to banking and card usage, Australia’s infrastructure supports a wide variety of international credit and debit cards, making it convenient for daily transactions. Online banking is highly prevalent, and digital wallets are gaining traction. For sending or receiving money, online transfer services like Wise or OFX are often more economical and faster than traditional bank exchanges, offering competitive rates and lower fees. It's usually more cost-effective to exchange money locally or rely on these online platforms for currency exchanges, as they often beat the rates provided by banks.
View a full list of exchange rates by selecting your Base (from) currency:
