Multi-Currency Accounts (MCAs) from Wells Fargo help simplify your foreign currency transactions. Deposit foreign receivables, accumulate foreign funds to meet payables requirements, and transfer funds from U.S. dollar accounts or foreign bank accounts by check or wire.*
How you benefit
- Easy and convenient deposits and withdrawals. Make deposits through wires or foreign cash letters. Make withdrawals by draft, wire, or global ACH.
- Increased availability of your foreign currency balances. Sweep funds automatically to your Wells Fargo U.S. dollar operating account.
- No unnecessary foreign exchange conversions. By avoiding foreign currency exchange, MCAs can help you streamline your accounting procedures and minimize your foreign exchange risk.
- Accurate and timely account updates. View balances through our Foreign Exchange Online and Treasury Information Reporting (TIR) services, available through our Commercial Electronic Office® (CEO®) business portal.
- Many currencies supported. We offer MCAs in 32 currencies.
- Interest-bearing account
- Interest rate: varies by currency
- Non-interest-bearing account
- No minimum balance required
For information on how our Multi Currency Accounts can help your business, call 1-877-593-2468 or contact us.
Learn more about our international services.
* Deposits maintained in an MCA are held at a location outside of the U.S. As such, they are not eligible for federal deposit insurance.