Bank of America, N.a. SWIFT/BIC code

BOFAUS3M – the SWIFT/BIC code of Bank of America, N.a.

The short code BOFAUS3M and the 11-character code BOFAUS3MXXX refer to one and the same institution: Bank of America, N.a. in Miami,fl, United States. Banks worldwide use these codes to direct international transfers to the right institution. It comes up mainly when dealing with payments that cross a border or a currency.

We wrote this page to help people who pays into an account at Bank of America, N.a.. The BIC identifies a bank or branch, never a single account.

Choosing between the 39 SWIFT codes of Bank of America, N.a.

With 39 codes in 5 cities, Bank of America, N.a. is one of the banks that use separate codes for branches and departments. The head office code is BOFAUS3MXXX.

Usually there is no need to pick a branch: payments sent to BOFAUS3MXXX reach Bank of America, N.a. without problems. Only use a branch code when the account holder explicitly asks for it.

Unsure which code applies? Ask the recipient, or look at a recent statement from Bank of America, N.a.. Branch codes can change when banks reorganise, so do not rely on old paperwork.

Sending USD to Bank of America, N.a.

United States uses the US Dollar (USD). When you pay another currency, the amount gets converted somewhere along the way. There is rarely a separate charge for the conversion; it is built into the rate.

Who converts the payment makes a difference: every bank has its own margin. Transferring the money already in USD often prevents an extra conversion by Bank of America, N.a..

Exchange rates move all the time. For recurring payments, a slightly better rate add up over time.

Transfer times and tracking a payment to Bank of America, N.a.

There is no single answer for every transfer: many land the same day or the next. Payments made late in the day or on a weekend or public holiday often go out the next business day. Extra checks by one of the banks can also cause a delay, regardless of the details.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer carries a unique transaction reference, the UETR. Keep your transfer receipt until the money has arrived.

The bank that sent the money can start an official trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. Request from the sender a copy of the payment confirmation including the reference.

Scams that use SWIFT codes

Stay wary when someone suddenly asks you to pay into a different account or a bank in another country. A valid SWIFT code tells you nothing about who owns the account – scammers simply use real codes.

Always confirm changed bank details through a phone call, using a number you already had. Watch out for urgent requests, odd spelling or an email address that differs by one letter. Acted too fast? Call the bank you paid from without delay and ask them to try to recall the payment; also report it to the police.

Scams also target the receiver. Someone sends too much and wants you to refund the extra to a new account. Do not act before the money is actually in your account.

Is BOFAUS3M still correct? How to check

The safest source for the BIC is the recipient’s own bank details. If the code you have does not match BOFAUS3M or BOFAUS3MXXX, stop and ask.

An incorrect BIC may lead to delays, a returned payment or extra fees for investigation. Do not forget the account number: an error there can be more difficult to correct than a wrong code.

An automatic check by your bank merely tells you that the IBAN is valid, not that it is the right account. If your bank offers it, a name check before sending adds an extra layer of safety. When you pay someone new, some people send a small amount first before sending the rest.

Receiving money from abroad at Bank of America, N.a.

For a transfer from abroad into your account at Bank of America, N.a., the person paying you needs not just the BIC. In practice that means: your full name exactly as it appears on the account, your IBAN or account number, the SWIFT/BIC code BOFAUS3MXXX (or BOFAUS3M) and, often, your address.

You can include Bank of America, N.a. and Miami,fl as well. A typo in the IBAN is more trouble than it looks.

What lands in your account can be less than what was sent. Correspondent banks can take a fee, Bank of America, N.a. may charge for incoming payments, and if the currency changes, a markup on the rate comes on top. Agree with the sender who covers the fees.

Where our SWIFT data comes from

This directory is compiled from public sources. Banks reorganise, close branches and change codes, and a directory never catches every change immediately. The figures we show are based on our own data and not on information from Bank of America, N.a. itself.

Use our data as a reference, rather than as the final word: the recipient’s bank details come first. GoldexPay is an independent comparison site for money transfers and not part of Bank of America, N.a.. If you notice a mistake, we welcome a short note.

Sending money abroad from Bank of America, N.a.

A bank transfer abroad costs more than the listed fee. There is the transfer fee, sometimes charges from correspondent banks along the way and, most importantly, the margin on the exchange rate when the money is converted.

The real cost is often in the rate, not in the fee: the bank converts at a rate with a margin built in. Compare their rate with the mid-market rate – the rate you find on financial news sites.

For a lot of routes, a specialist provider turns out to be cheaper than a traditional bank transfer. GoldexPay compares what recipients receive with different services, so you can pick the cheapest route. Using a transfer service does not mean closing your account at Bank of America, N.a. – you pay the provider from your own account.

What the XXX in BOFAUS3MXXX means

Every SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. In this case, that core is BOFAUS3M.

The full version has three more characters that identify a branch or department. If the last three are XXX, they simply mean the head office, which is why BOFAUS3MXXX and BOFAUS3M lead to the same place.

Enter the code in one piece, in capitals and without spaces. Copying the code is safer than retyping it: a typo can point to another bank.