Private Bank Online
Domestic Wire Transfers
A guide to sending one-time domestic wires from your eligible Private Bank accounts
Private Bank Online's self-serve domestic wire transfer feature offers a simple and secure way to quickly send funds from an eligible Private Bank Investment Management & Trust (IM&T) account, without having to contact your Private Bank team.
Benefits:
- No daily and/or rolling dollar limits1
- Wire funds same-day or schedule for a future business day, with our fee waived
- Resend wires from your online wire history using the copy feature
- Emails and secure messages provide processing status updates, including your wire's final reference number (e.g. Federal reference number) once completed
Quick Tips for Wire Transfers
Step 1: Verify your wire instructions
- Always verify your wire instructions with your trusted recipient prior to sending any funds.
Step 2: Enter and Review your wire details
- From Send a wire, select an eligible2 Private Bank account to wire funds, enter the wire details, including the recipient bank’s wire transfer ABA/routing number, the recipient’s bank account number, and the required recipient information.
Step 3: Monitor the wire’s status
- Typically, same-day wires submitted before the business day cut-off3 will process that day.
- All wire transfers are subject to Private Bank’s review, which may affect the date the wire is processed. You’ll receive an initial email confirming our receipt of your wire request, and another with your wire’s final confirmation number, once fully processed.
Frequently Asked Questions
Q: What type of one-time wire transfers can be submitted from the Private Bank Online website?
A: Domestic IM&T wires, only. Contact your Private Bank team for assistance with sending a foreign wire from a Private Bank account.
Q: What types of accounts can I wire funds to using the Private Bank Online website?
A: The domestic wires feature supports sending a wire to both bank accounts (checking/savings) or non-banking account types (brokerage/investment/retirement/trust). To wire to a non-banking account, you’ll need additional processing instructions typically referred to as For Further Credit (FFC) and/or For Benefit Of (FBO) details. Contact your Private Bank team if you need assistance with these types of wires.
Q: What is the wire processing cut-off time?
A: Wires submitted before ~5:30pm E.T. on a bank business day typically process same day.
Q: Are there daily and/or weekly dollar amount limits?
A: There are no dollar limits. However, your Private Bank team may need to contact you to verify certain wire requests.
Q: Why don’t I see all of my Private Bank accounts in the From drop-down?
A: This feature is offered to individual account owners of eligible Private Bank investment management and revocable trust accounts, only.
Q: Can I setup a 3rd party with access to wire funds from my Private Bank accounts on Private Bank Online?
A: No. Online money movement is not available to 3rd party profiles.
Q: Where can I find my wire’s status?
A: Wire details are available from the Wire activity page.
Q: My wire’s status reflects “Under Review”, what does this mean?
A: The wire is being reviewed by your Private Bank team. Your team may need to contact you to verify your request for security purposes. Typically review is completed within one business day. Note that wire requests submitted in the afternoon may take longer to review. Contact your team if your request is time-sensitive.
Q: How is my wire’s estimated arrival date determined?
A: The date is based on the type of account from which you are wiring funds and when you submit the wire transfer request. Domestic wires are typically sent to the recipient within one business day.
Q: Can I save my wire instructions for future use?
A: Private Bank Online automatically saves each set of unique instructions from your wire history. From the Wire activity page, select Copy by the wire instructions you'd like to reuse. You can make edits prior to sending.
Q: Where can I find my wire’s final reference number?
A: We’ll email you the number once your wire has processed. You may also refer to the Wire activity page.
Q: Can I view wire transfers that my Private Bank team submitted on my behalf?
A: No. Private Bank Online will only reflect self-serve domestic wires initiated by you.
Reach out to your Private Client Advisor or a member of your Private Bank team to learn more about the online wire service.
1 For security purposes, your Private Bank team may need to contact you to verify your wire request prior to processing.
2 From eligible Private Bank Investment Management & Trust accounts, only.
3 Current business day cut-off is approximately 5:30pm E.T.
Features and functionality are subject to change and may not be available to all clients. Refer to the updated Private Bank Online Service Agreement for important disclosures on our online wire transfers service.
Neither discussed or suggested in these materials should be construed as permission to supersede or circumvent any of Bank of America’s or its affiliates’ policies, procedures, rules and guidelines.
