Wire Transfer Services

Interactive Voice Response System

Overview

Bank of America is proud to provide an Interactive Voice Response (IVR) enhancement to our robust telephone wire transfer service. The intuitive prompt and response dialog now enables you to use a telephone key pad to enter your Personal Identification Number (PIN) and other transaction information. The result: enhanced security and more efficient payment initiations.

Interactive Voice Response features

  • Security Enter your Personal Identification Number (PIN) using the phone key pad instead of speaking to a bank employee. No one will hear the PIN, and since it doesn't display on the wire system, no one will know it but you.

  • Efficiency Enter most payment information using a telephone keypad. When your call is transferred to a live Bank of America employee for completion of the transfer, your wire details will already be displayed on the employee's system.

  • Speed Enter as many as eight non-repetitive wire transfers and unlimited repetitive wire transfers in a single IVR session, saving time.

Supporting all types of wire transfers

  • Non-repetitive wire transfers After entering your PIN, account number, and payment amount, the IVR will transfer you to a bank employee who will request the beneficiary information to complete the wire transfer.

  • Repetitive wire transfers You will first enter your PIN, account number, and payment amount. If you do not need to add reference information to the repetitive payment, you can complete it without being transferred to a bank employee. The IVR will confirm your wire transfer by reading back a transaction reference number. If you need to add reference information, or if you would like a bank employee to confirm the payment, you can select to be transferred to a bank employee to complete the payment.

  • Foreign exchange wire transfers After entering your PIN and account number, the IVR will prompt you to enter 0 and press the # sign. The IVR will transfer you to a bank employee who will enter the foreign currency dollar amount, request the beneficiary information, complete the currency conversion and finalize the wire transfer.

Helpful Tips

  • You are required to enter your PIN and account numbers using the phone keypad. This enables us to verify that you have authority to initiate payments from a specific account, and to determine the extent of your authority (i.e., your user limit). You will only be prompted to enter this information once to initiate multiple payments from a single account. To initiate additional wires from another account number, you will not be required to enter your PIN again; however, you will be prompted to enter the new account number.

  • If your PIN is not verified, you will automatically be transferred to a customer service representative who will help resolve the issue.

  • Leading zeroes in account numbers do not need to be entered.

  • If you make an error keying, you will have an opportunity to correct it. The Interactive Voice Response (IVR) system repeats all your entries and asks you to confirm them before prompting you for the next piece of information. If you make an error, simply indicate that the information is incorrect. You will be prompted to re-enter the correct information, which will then be confirmed before progressing through the payment entry process.

  • Foreign currency wire transfers may be made using the IVR system. However, because of the many currencies available, the IVR cannot capture as much information for an FX payment as it can for a U.S. dollar payment. For FX payments, after entering your PIN and account information, you enter a 0 and press the # sign. You will then be connected to an operator to provide the currency and payment amount.

  • Payment decimal points do not need to be entered. The system will assume the last two digits entered in the amount are cents. So, if you enter 1 0 0 0 0 #, the system will interpret it as $100.00.

  • Several payments may be entered in a single IVR session — up to eight non-repetitive payments and unlimited repetitive payments that do not require operator assistance.

  • Payments from multiple accounts may be made in a single session, if your PIN is authorized for multiple accounts.

  • Callback verifications may be initiated by Bank of America's Wire Transfer department. When they contact you to complete a callback verification, the bank employee will ask the Authorized Representative to enter their PIN into the phone key pad; the IVR will confirm their identity and authority privileges.

Contact us

  • For more information about our wire transfer services, contact your treasury management sales officer.