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 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.
The Bank of America USD to GBP exchange rate is 0.6816. This is -7.8% compared to the latest USD-GBP mid-market rate 0.7392.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to British pound (GBP) rates from different sources before making a conversion.
The above Bank of America - Dollar to Sterling comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Bank of America and other foreign exchange providers against the latest USD-GBP mid-rate and the possible savings of using various providers.
Looking at the full comparison table the best USD to GBP exchange rate is 0.7355 from OFX, -0.5% from the mid-market rate 0.7392. The next best rate is 0.7348 from XE, -0.6% from the mid-rate. Then Wise with 0.7344 is -0.65% from the mid-rate.
The Western Union rate is 0.7318 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 0.6823 at -7.7% the Wells Fargo Bank rate is 0.6779 at -8.3% and the Citibank rate is 0.7119 at -3.7% compared to the mid-rate 0.7392.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Bank of America often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency: