|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
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.
For travelers planning a 1-week mid-range stay in the United States, a budget of around $1,400 to $2,000 is advisable. This estimate includes a mix of accommodation, meals, transportation, and entertainment. Here's a brief overview of typical daily expenses in local currency (USD):
In general, the U.S. can be considered an average to slightly expensive destination depending on the region. For example, major cities like New York and San Francisco tend to be pricier than rural areas. When comparing costs of visiting the U.S. to a country like Canada or the UK, Canada is often cheaper, especially regarding accommodation and dining options. The U.K. generally aligns closely with the U.S. in terms of major city expenses, with London being particularly expensive due to high costs of living, thus making a trip to the U.S. comparable.
For expats, monthly living costs generally range from $2,500 to $4,000 depending on lifestyle and location. This typically includes rent (which can be a significant part of the budget), groceries, utilities, and transportation. Useful tips for banking in the U.S. include opening a local bank account to avoid excessive ATM fees and ensuring your debit/credit cards are accepted widely. Payment methods can vary greatly, with contactless payments and mobile wallets gaining popularity.
When it comes to exchanging money, options like Wise or OFX are typically better than converting cash at local banks or airports, which may have unfavorable rates. Additionally, for regular receiving and sending of funds internationally, using online transfer services can save you significant amounts in fees and provide real-time currency conversion rates, making your financial transactions smoother and more cost-effective.
View a full list of exchange rates by selecting your Base (from) currency:
