As a USA native English speaker there is no difference in meaning to me. I have the perception of shall sounding more formal but both words are interchangeable. However he's a good explanation of the difference. Just remember in conversation it does not matter whether you use shall or will. From: http://www.oxforddictionaries.com/us/words/shall-or-will The traditional rule in standard British English is that shall is used with first person pronouns (i.e. I and we) to form the future tense, while will is used with second and third person forms (i.e. you, he, she, it, they). For example: I shall be late They will not have enough food. However, when it comes to expressing a strong determination to do something, the roles are reversed: will is used with the first person, and shall with the second and third. For example: I will not tolerate such behavior. You shall go to the ball! In practice, though, the two words are used more or less interchangeably, and this is now an acceptable part of standard British and US English.

Formerly, shall was used as the first person form of the verb will to express future tense. Using will in first person implied intent or definite decision. When shall was used in second or third person, it expressed obligation. In modern American English, shall has generally been replaced by will. Shall is reserved mainly for contexts in which the speaker wants to sound formal or extremely polite. However, when shall and will introduce questions, they have an important distinction in meaning. Shall asks for a preference or offers a polite suggestion, while will indicates future tense. "Shall we get a cup of coffee?" means "Do you want to get a cup of coffee?" "Will we get a cup of coffee?" involves speculation about future events, such as: "Do they serve coffee at this restaurant?" or "Is coffee included in the price of the meal?"

Thank you Jonathan :) Thank you Peachey :)

Will suggests volition (I want) and shall suggests obligation (I have to). Aside from the basic "shall we/I...?" rule, you will see shall used often in legal contracts. I don't see them as interchangeable. "Shall we go out tonight?" = a suggestion. "Will we go out tonight?" = you really don't know.

Will but never shall is used to ask or order someone to do something, for example: Will you please get me some milk when you go shopping Will you stop making that noise! Will you make me a coffee please Shall is used to offer suggestions or offers, for example: Shall I shut this door? Shall we go for a drink? What shall we do today?