Why send a wire in foreign currency?
Sending a wire in foreign currency can save you time and money, reduce risk, and help you gain a competitive advantage.
- Save money. When you send international wires in foreign currency, you pay lower fees than for international US dollar wires, and you may pay lower international bank fees by avoiding intermediaries to complete the payment.
- Reduce foreign exchange risk. By sending a wire in foreign currency, you can lock in the exchange rate and know the full cost of the transaction before the wire is sent.
- Gain a competitive advantage. By dealing in the local currency of your foreign business partner, you may be able to negotiate more favorable pricing for goods and services.
How do I address foreign currency risks when transacting with a party in another country?
A Foreign Exchange Specialist can help you manage the financial risks associated with fluctuating currency values. Businesses that trade only in US dollars may be at a disadvantage if they face competitors dealing in foreign currency who may enjoy competitive pricing advantages. We can help you find the right solution to handle your international transactions and manage your foreign currency risk. Contact a Foreign Exchange Specialist at 1-800-786-5593 option 3.
How do I get current foreign exchange rates?
Wells Fargo offers services in virtually any freely-traded currency. Call a Foreign Exchange Specialist for current rates.
When traveling internationally on business what forms of payment should I bring?
How can I get a foreign currency draft?
To obtain a foreign currency draft (a check payable in a foreign currency that is drawn on a foreign bank) you can visit a Wells Fargo store, visit us online, or contact a Foreign Exchange Specialist at 1-800-786-5593 option 3.
Can Wells Fargo accept foreign checks for deposit?
Wells Fargo accepts deposits of checks denominated in many foreign currencies. With our Global Check Clearing service, foreign check deposits can be prepared in your office and mailed to our processing centers. To get started, contact a Foreign Exchange Specialist at 1-877-201-9639.