Wire Transfer Services
Wire transfer services are 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 draft is a draft drawn on a bank in a country outside of the U.S., which is payable in the currency of the country where such foreign bank is located. A foreign draft is a convenient way to make payment in a foreign currency.
Foreign Check Deposits
Checks drawn on foreign banks from a wide range of countries and denominated in either a foreign currency or U.S. dollars can be submitted to Wells Fargo for conversion to US dollars as a Cash Letter item or as a Foreign Check Collection. A Cash Letter results in a provisional credit to your account for the check submitted. With a Collection Item, funds are not available to you until we have collected on the foreign check.
Currency Risk Management and Hedging Services
We offer an extensive range of foreign currency risk management tools that can help customers reduce uncertainty and manage the risks and opportunities associated with fluctuating 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 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 of goods or services.
To learn more, read our frequently asked questions or contact a Foreign Exchange Specialist.