Wells Fargo for international wire transfers
Wells Fargo is great for checking accounts. But when it comes to international transfers, you could be missing out on a better deal elsewhere. Here’s an overview of Wells Fargo’s international transfers, and how they compare to some of our top-ranked providers.
Transfer type | Wells Fargo | Compare via MoneyTransfers.com |
---|---|---|
Outgoing international transfer fees | $25 - $50 per transfer | Some providers are free |
Incoming international transfer fees | $15 per transfer | Most providers are free |
Transfer Times | 1 - 5 business days | Instant - 3 business days |
Payment Methods | International wire transfer, cash pickup,or a direct credit transfer via ExpressSend | ACH transfer, credit/debit card, international and domestic wire transfer, cash pick-up |
International transfer fees
Below is a summary of the transfer fees and rate markups on Wells Fargo wire transfers. We’ve compared them to two transfer providers, Wise and Xe, to put them into context.
Wells Fargo international money transfer comparison
Transfer amount | Wells Fargo | Wise | Xe | |||
---|---|---|---|---|---|---|
FX margin (approx) | Fees | FX margin | Fees | FX margin (approx) | Fees | |
$250 | $16.37 | $30 | Mid-market rate | $5.77 | $2.25 | $3 (variable). |
$1,000 | $65.50 | $30 | Mid-market rate | $10.33 | $9 | None |
$5,000 | $327.50 | $30 | Mid-market rate | $37.57 | $45 | None |
Fees taken 28/02/2024.
Charges for incoming international wire transfers with Wells Fargo
Wells Fargo charges for incoming international wire transfers. Receiving an international wire transfer into your Wells Fargo account costs $15. This isn’t uncommon; a lot of traditional banks charge a fee for receiving wire transfers.
Foreign transaction fees with Wells Fargo
Wells Fargo charges foreign transaction fees too. They range from $4 - $30 per transfer, depending on your transfer method and where you’d like to send the money. International wire transfers have a flat fee of $30. Bank deposits and cash transfers with ExpressSend are a bit cheaper, between $4 and $8 per transfer.
Wells Fargo's exchange rates
Wells Fargo rate | Mid-market rate | Markup | |
---|---|---|---|
1 USD | 15.98 MXN | 17.10 MXN | 6.55% |
1 USD | 51.08 PHP | 56.04 PHP | 9.72% |
1 USD | 0.76 GBP | 0.79 GBP | 4.78% |
*Calculated on 28/02/2024.
How Wells Fargo exchange rates work
Like a lot of traditional banks, Wells Fargo adds a markup to the mid-market exchange rate when you make an international transfer.
What's the Wells Fargo exchange rate for an online money transfer?
The exact exchange rate on Wells Fargo online money transfers varies. On average, they add a 6% markup to the exchange rate, meaning you’ll get 6% less money back on your exchange than you would if you used the mid-market exchange rate.
You can get the right value for your exchange if you use a provider that offers the mid-market rate on exchanges. Online money transfer providers like Wise, Revolut, and Instarem all make exchanges using the mid-market rate, but there’s a small fee for your transfer.
Does Wells Fargo exchange currency?
Yes, Wells Fargo does offer currency exchanges. There’s no fee for buying foreign currency with Wells Fargo, but there is a markup of around 6% on the mid-market exchange rate. You can buy more than 50 different currencies with Wells Fargo, including GBP, PHP, and MXN.
How much does Wells Fargo charge for currency exchange?
There’s no specific fee for exchanging currency with Wells Fargo, but there is a high markup on the exchange rate. This markup of 6% is, in a way, a charge to exchange currency.
How to get foreign currency from Wells Fargo
Foreign currency from Wells Fargo can be ordered as cash. You can order your foreign currency online, via mobile, in person, or by phone.
Online
Mobile
In person
By phone
What currencies does Wells Fargo exchange?
Wells Fargo exchanges more than 50 currencies, including:
Australian Dollar (AUD) | Barbadian Dollar (BBD) | Brazilian Real (BRL) |
Brunei Dollar (BND) | Bulgarian Lev (BGN) | Canadian Dollar (CAD) |
Cayman Islands Dollar (KYD) | Chilean Peso (CLP) | Chinese Yuan (CNY) |
Colombian Peso (COP) | Costa Rican Colón (CRC) | Czech Koruna (CZK) |
Danish Krone (DKK) | Dominican Peso (DOP) | Euro (EUR) |
Fijian Dollar (FJD) | British Pound Sterling (GBP) | Guatemalan Quetzal (GTQ) |
Hong Kong Dollar (HKD) | Hungarian Forint (HUF) | Icelandic Króna (ISK) |
Israeli New Shekel (ILS) | Jamaican Dollar (JMD) | Japanese Yen (JPY) |
Jordanian Dinar (JOD) | Kenyan Shilling (KES) | Kuwaiti Dinar (KWD) |
Macanese Pataca (MOP) | Malaysian Ringgit (MYR) | Mexican Peso (MXN) |
New Zealand Dollar (NZD) | Indian Rupee (INP) | Norwegian Krone (NOK) |
Omani Rial (OMR) | Pakistani Rupee (PKR) | Peruvian Nuevo Sol (PEN) |
Philippine Peso (PHP) | Polish Złoty (PLN) | Romanian Leu (RON) |
Saudi Riyal (SAR) | Saint Helena Pound (SCP) | Singapore Dollar (SGD) |
South African Rand (ZAR) | South Korean Won (KRW) | Swedish Krona (SEK) |
Swiss Franc (CHF) | CFP Franc (XPF) | New Taiwan Dollar (TWD) |
Thai Baht (THB) | Turkish Lira (TRY) | United Arab Emirates Dirham (AED) |
United States Dollar (USD) | Uruguayan Peso (UYU) |
How to save on international transfers with Wells Fargo
If you’re a Wells Fargo account holder, you can save money on your international transfers. Here are some of the top ways you can save.
Use Wise to transfer from your Wells Fargo account
Wise is an international money transfer service that uses the mid-market exchange rate for its transfers. Wise fees vary depending on where you want to send your money, but they average at between $4 and $11. This is up to $26 cheaper than making an international wire transfer with Wells Fargo.
Using Wise, you can make a bank transfer from your Wells Fargo account to another country. Wise services more than 70 countries worldwide, slightly more than Wells Fargo does alone. A lot of bank transfers made through Wise are completed instantly, too.
Use Xe to transfer from your Wells Fargo account
Xe lets you make bank transfers internationally at a much cheaper price than using a wire transfer. There are no fees for transfers of more than $500, but there’s a small markup on the exchange rate of about 0.9%. This gives you a saving of about 5% on Wells Fargo’s markup on foreign currency exchanges.
You can send money from your Wells Fargo account to around 200 countries with Xe, and transfers are often completed in 24 hours.
Save money with TorFX using Wells Fargo
If you use Wells Fargo to send money overseas with TorFX, you could save money on fees and exchange rates. TorFX doesn’t charge a fee for its transfers, but there is a markup on the exchange rate. You also get a dedicated account manager who can help you manage your transfer, including helping you find the best deal.
Save money getting foreign currency with Wells Fargo
The best way to save money getting foreign currency with Wells Fargo is to exchange when rates are better. You can check the mid-market exchange rate using our currency converter tool.
Ways to send money abroad with Wells Fargo
Wells Fargo lets you send money abroad by wire transfer, credit deposit, or as cash for pickup. Bank deposits and cash transfers are available through ExpressSend, but this can only send money to 13 countries around the world. Wire transfers are managed by Wells Fargo directly. They cost $30 each, and add a markup of about 6% to the exchange rate.
You can request these transfers online, via mobile, in branch, or over the phone.
You can send money from your Wells Fargo account to an international money transfer provider. Transfer providers are cheaper than sending wire transfers with your bank, and they’re often faster too.
How to make an international money transfer with Wells Fargo
Making an international money transfer with Wells Fargo is quite simple.
Wire transfers
Sign in
Add the recipient’s details
Check the information and send
Bank deposit or cash pickup
To make an international bank deposit or arrange a cash transfer with Wells Fargo, you’ll need to enroll in the Wells Fargo ExpressSend service.
Contact your bank
Complete the ExpressSend service agreement
Send your transfer
Use Wise to send money abroad from your Wells Fargo account
It may be simpler to fund your transfer with your Wells Fargo account, but use a transfer provider like Wise to send your money overseas. Here’s how.
Register for a Wise account
Add the details of your transfer
Review the received amount
Send the money
What information do you need to make an international transfer with Wells Fargo?
You’ll need a few details, including the full bank details of your recipient, their name, address, and their IBAN or SWIFT code. To make a transfer with ExpressSend, you’ll need to visit a Wells Fargo branch first. To make a wire transfer with Wells Fargo online, you’ll need to register for an online account first.
What is Wells Fargo’s SWIFT code?
Wells Fargo’s SWIFT code is WFBIUS6S.
Use the search box below to find your recipient’s SWIFT code.
Find your recipient's SWIFT code
How long a Wells Fargo international money transfer takes
On average, international transfers with Wells Fargo take around 2-7 business days. Most money transfer providers are quicker than this, with Wise and Xe some of the fastest transfer providers out there.
How much money can you send via a Wells Fargo wire transfer?
The daily transfer limit varies depending on where you’d like to send the money, ranging from $600 to $5,000 for bank credits, and $500 to $1,500 for cash pickup. There’s a consecutive 30-day limit on all transfers of $12,500. Wire transfers are limited at $25,000 per transfer, but this can be lifted in some cases if you visit a Wells Fargo branch.
All these amounts are on the low side when compared to most transfer providers. Global66 has the strictest limits at $15,000 per transfer, with some providers like TorFX and OFX having no upper transfer limits.
How to receive international wire transfers with Wells Fargo
To receive an international wire transfer with Wells Fargo, you’ll need to supply the following information to the sender.
Your ABA, RTN, or SWIFT code
The bank name and address
Your account number, name, and address
There is a $15 fee for receiving a wire transfer with Wells Fargo. It will usually be cheaper for both you and the person sending you money if they use a different method.Debit card payments, bank transfers, and specialist transfer providers are cheaper. Most transfer providers will be able to send money directly to your Wells Fargo account, too.
How Wells Fargo compares to money transfer services
Money transfer services are cheaper, faster, and have higher transfer limits than Wells Fargo. Transfer services like Wise are around 16% cheaper than Wells Fargo, and they’re very easy to use. Check out the cheapest ways to send money overseas for more information.
Who should use Wells Fargo transfers?
Wells Fargo is best suited for US residents in need of a checking account for the majority of their income. If you only tend to make domestic transfers within the US, Wells Fargo may suit your needs perfectly. Domestic transfers are managed in partnership with Zelle, keeping your transfers quick and easy. Plus, you can pay your bills online for more convenient banking.
Pros and cons of transferring money abroad with Wells Fargo
- Well-known, big name in the US banking industry
- Lots of traditional, physical branches makes it easy to visit in person if that’s your thing
- Wire transfers can be completed online
- International transfers are expensive
- Transfers tend to be slow, taking anything up to seven business days to complete
- There are strict limits on how much you can send abroad
Popular destinations and currency routes at Wells Fargo
Wells Fargo allows transfers to lots of countries around the world including the Eurozone, United Kingdom, and South America. Here's a summary of some of their top destinations, and some of the countries you can send money from with Wells Fargo.
What to consider when sending money with Wells Fargo
It’s important to consider lots of things when considering making a transfer with Wells Fargo. The obvious consideration is cost, but there’s also customer service quality, how easy it is to transfer money with Wells Fargo, and how quickly your money will arrive.
While transferring with your checking account may seem easier than using another provider, you might be surprised. International transfers with your bank can take a long time, and often you’ll need to visit your local branch to be able to authorize them.
Wells Fargo international wire transfer alternatives
Here are some of the top alternatives we recommend for making international transfers. Don’t worry, all of them can be funded from your Wells Fargo account.
Wise lets you send money to over 70 countries worldwide. They offer the mid-market exchange rate on currency exchanges, and charge a small transfer fee. The exact fees change depending on where you’d like to send your money, and how much you’d like to send, but you can work out exactly how much you’ll be paying before sending any money, using the in-app Wise calculator.
If you need to hold foreign currency for some reason, perhaps a holiday, Wise is great for this too. They let you open a multi-currency account which can hold up to 9 currencies at once. You get these exchanges at the mid-market rate too, but exchanging does come with a small fee.
Xe is much cheaper for international transfers than Wells Fargo. They charge no fees for transfers of more than $500, and add a small markup to the exchange rate. They also send money much faster than Wells Fargo, with most transfers completed in around 24 hours.
You can send up to $535,000 per transfer with Xe, far outstripping Wells Fargo, but not quite as high as Wise’s $1.2 million, or OFX’s limitless transfers.
OFX has no transfer limits, and a minimum transfer requirement of $1,000. This is considerably higher than Wells Fargo’s limit of $12,500 per consecutive 30 days. OFX doesn’t charge any fees for its transfers, but does add a small markup to the exchange rate.
While transfers aren’t quite as fast as Xe and Wise, they’re still much faster than Wells Fargo. So, if you need to send a large amount of money quickly, OFX is a good option.
Is Wells Fargo right for your transfer?
If you need to send money domestically, you can use your Wells Fargo account without much trouble. But when it comes to international transfers, Wells Fargo are more expensive, more complicated, and more time-consuming than a lot of other transfer methods. If you need to send money overseas, we recommend using one of the top money transfer companies instead.