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Sending and Receiving International Payments

Wire Transfer Services
The fastest and safest way to transmit money around the world, our wire transfer services make one-time and repetitive overseas payments simple and efficient. With our extensive foreign correspondent bank network, outbound funds transfers can be executed to foreign beneficiaries worldwide. Additionally, this network of foreign accounts can receive funds on your behalf, and can accelerate collection of incoming payments.
Foreign Bank Drafts
A foreign bank draft is a check denominated in foreign currency that is drawn against funds deposited in a foreign bank. Foreign drafts clear locally in the beneficiary's home country and are one of the most convenient and economical ways to make an overseas payment. Wells Fargo offers foreign drafts in a wide range of currencies.
Foreign Check Conversions
Foreign denominated checks for a wide range of countries can be submitted to Wells Fargo for conversion to US dollars under a Cash Letter or as a Collection Item. A Cash Letter results in an immediate credit to your account for the check submitted and a Collection Item means that the funds are not credited to your account until we have collected funds on the foreign item.
Currency Risk Management and Hedging Services
We offer an extensive range of foreign currency risk management tools that can help customers eliminate uncertainty and manage the risks and opportunities associated with changing currency values. Contact a Foreign Exchange Specialist for assistance with Forward Contracts, Options, and other services designed to assist business customers in protecting profit margins.
How You Benefit
  • 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 as well since you avoid using 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 of goods or services.
  • Accelerate foreign payments and collections. When you send a wire in foreign currency, the wire recipient does not have to wait for the overseas bank to accept it and convert the funds to local currency. Similarly, inbound foreign wires that are received through Wells Fargo's foreign correspondent bank network are not subject to delay by intermediary banks.
To learn more, read our frequently asked questions or contact a Foreign Exchange Specialist.