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Wells Fargo

Wells Fargo is considered to be the fourth largest bank in the US, ranking seventh on the Forbes Global 2000 list of largest public companies in the world in 2016. As such, foreign currency exchange and international transfers are just one of many services offered by the company.

The bank offers exchanges on over 70 currencies in more than 100 countries. In this review, we’ll be taking an in-depth look into Wells Fargo as a bank, Wells Fargo’s foreign currency exchange rates and what you may need to consider if you are considering sending money internationally with them.

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About Wells Fargo Bank

Wells Fargo has been operating since 1852 and is the fourth largest bank in the US. Headquartered in San Francisco, California, the company offers a range of products from asset management and brokerage services to traditional banking, foreign currency exchange, finance and insurance services.

As of June 2018, Wells Fargo operated in more than 35 countries and had over 70 million customers globally. The bank has more than 8,050 branches in the US and 13,000 ATMs.

With Wells Fargo’s international transfer service, customers can send and receive money overseas. Clients can initiate transfers via a branch, online, or by calling. 

The bank remits money to over 200 countries globally; however, customers can use the bank’s ExpressSend for transfers to 13 countries in Asia, including China, India, the Philippines, and Vietnam.

Wells Fargo exchange rates and fees

Like all banks, the two charges you need to be aware of when sending money internationally with Wells Fargo are:

We’ll breakdown the Wells Fargo exchange rates and fees charged by this bank in the following section.

Wells Fargo Exchange rate

Wells Fargo exchange rates are listed on the bank’s website. It also provides an online currency calculator. The bank explicitly states that it charges a markup on exchange rates 

Margins of 4%-6% apply to exchange rates for Wells Fargo. These margins are in line with what most banks offer. Foreign currency traders must call or walk into a branch to get the buy and sell rates.

To sidestep these high markups, customers can use leading money transfer providers like Wise, which offer mid-market rates.

Wells Fargo exchange rate offered “typically includes Wells Fargo’s sell or buy rate for that particular foreign currency, and/or a charge in order to compensate Wells Fargo for any number of considerations, such as risks taken, costs incurred and services rendered (i.e., “mark-up”), including the amount of revenue Wells Fargo expects to earn as a profit”.

If you would like to know more, you can check Wells Fargo exchange rates by visiting their website. These foreign currency exchange rates may vary depending on the country you are sending money to.

Wells Fargo Transfer fees

Here’s a breakdown of Wells Fargo international wire transfer fees.

Wire transfersU.S CurrencyForeign Currency
online/ mobile banking $45$30
Repetitive $40$30

Wells Fargo money transfer fees for Asian countries served by ExpressSend are different. Here are some highlights. 

Recipient countryFees
The Philippines$4

Wells Fargo wire transfer fees are within what US banks offer. However, they are expensive compared to what money remittance companies give. Customers can expect to save upwards of $25 for any wire transfer.

ExpressSend transfer fees are, however, very competitive. The fees compete favorably with those of money transfer providers.

Additional costs

If you are sending a domestic wire transfer, you will be charged $15 per incoming transfer and $30 per outgoing domestic transfer. Repetitive outgoing domestic transfers are reduced to $25.

It’s worth noting that these fees are considerably higher than you would get if you were sending money abroad with a specialist money transfer provider, so you may want to consider getting alternative quotes before going ahead with your transfer.

How do Wells Fargo transfer fees compare to using a money transfer provider?

We compare Wells Fargo international transfer fees against money transfer providers. 

Assuming a customer intends to send $1000 to a bank account in the following countries, here’s what they’d pay.

Send Money ToWell Fargo CostMoney Transfer Provider Cost

The comparison shows instances where Wells Fargo international transfer fees are multiple times more expensive.

Wells Fargo pros and cons

Trusted name: Wells Fargo is an internationally recognized name and a trusted banking provider, which for many people is peace of mind that your money will be handled securely. 
Secure means of sending money: Wire transfers are considered a safe and secure way of sending money around the globe.
Range of services: Wells Fargo offers a number of services beyond simply international transfers, so might be a convenient option if you are looking to house all of your financial needs under one roof.
Expensive fees: The international transfer fees and exchange rate margin charged by Wells Fargo is higher than you would get if sending money with a money transfer operator.
Customers only: You must have a bank account with Wells Fargo in order to send and receive wire transfers with them.

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Does Wells Fargo have an app?

Yes, Well Fargo has an app available to both Apple and Android devices. The app is designed to enable you to manage your money 24/7, allowing you to transfer money and pay bills, make deposits with your phone, and lock/unlock credit or debit cards. Yo can also convert foreign currency by using Wells Fargo mobile app.

About Wells Fargo Mobile App 

Wells Fargo is a global banking group with a market value of $181.6 billion USD. According to data from June 2021 the Wells Fargo customer base currently stands at an estimated 69 million people. The bank continues to improve its digital offerings, optimising the Wells Fargo Mobile app to keep up with the growing demand of digital financial services. 

The bank’s mobile app is different from its internet banking platform in a number of ways, namely its specially developed design, which is compatible with all recent versions of Android and iOS devices. The helpful built-in features include biometric authentication by way of facial and fingerprint recognition, location services and mobile check deposit: whereby the device’s camera is used to capture the front and back of the check, depositing it remotely via the app.

Through multiple layers of ironclad safeguarding – such as 128-bit encryption protecting sensitive data and two-factor authentication to prevent unauthorised access – Wells Fargo vows; “security is our priority.”

A list of the following services available through the Wells Fargo Mobile app:

  • Pay bills and set up direct deposits
  • Send domestic transfers to people you know and trust using Zelle®
  • Send international transfers to more than 100 countries in over 70 currencies
  • View account balances and search transaction history
  • Activate, freeze and replace credit/debit cards
  • Search for ATM locations
  • Enable push notifications and alerts
  • Digital wallet services

How do I get the Wells Fargo Mobile App?

Custom-made for iOS and Android devices, users can download the Wells Fargo Mobile app for free from the App Store and Google Play Store: available in all 35 countries that Wells Fargo operates in across North America, Africa, Asia Pacific, Europe, Middle East and Latin America. 

Wells Fargo customers based in the USA can be sent a link to download the app to their mobile device: iOS users text IPH to 93557; for Android, text AND to 93557

Can I make international transfers with the Wells Fargo Mobile App?

Yes, foreign currency exchange and international transfers are just one of many services offered by the bank, with remittances to over 100 countries in more than 70 different foreign currencies available.

How does the Wells Fargo Mobile App perform? 

Compatible with Android, iPhones and iPads, the Wells Fargo Mobile app is private, secure and simple to use. The layout and format of the app is in keeping with the website, with features clearly displayed and instant access to account information.

The main concern flagged by users are issues with the fingerprint login function. However, as with any mobile application, glitches and bugs may occasionally occur, depending on the device used. Generally speaking, users of the Wells Fargo Mobile app are very satisfied with its performance. 

How to Send Money with the Wells Fargo Mobile App

Step 1. Download the app and sign in
Step 2. Enter your recipient’s details
Step 3. Enter the amount you wish to send
Step 4. Review and send the wire transfer

How long does it take to send money with the Wells Fargo Mobile App?

If submitted by 14:00 PM  Pacific Time, transfers will be sent the same working day: transfers submitted after this cut-off time will be processed the next business day. Bear in mind national holidays and weekends will interfere with delivery speed. 

Can you add money directly to the Wells Fargo Mobile App?

As a mobile banking app, this is not necessary, as users will have full access to funds held in their Wells Fargo bank account(s). 

Ratings and Feedback for Wells Fargo Mobile App

The online rating given to this mobile app is 4.8 out of 5 stars on both the Google Play Store and App Store. These near-perfect scores indicate the app lives up to its word, is reliable and trustworthy. Negative ratings generally refer to the mobile deposits feature and personal preferences related to the design of the app’s user interface.

Answers to key questions about Wells Fargo

Below we’ve addressed some frequently asked questions regarding Wells Fargo, opening a bank account with them, and sending money internationally.

Can I open a Wells Fargo bank account in any country?

Yes, you can open a Wells Fargo bank account online, so you don’t necessarily need to be in the US to get your account set up (although you could also visit a local branch if you would prefer). 

Are there transfer limits?

Wells Fargo confirms that the amount you can send to recipients is restricted for your security, with account limits shown below the ‘Wire amount’ field when you send a wire transfer.

If you would like to request higher limits, however, you can visit your local branch to discuss your case with staff in-person.

How long do transfers take with Wells Fargo?

If you submit your international wire transfer by 2 PM  Pacific Time, your transfer will typically be sent on the same business day. If you submit your transfer beyond this cut-off time, your transfer will be processed the next business day (something to be aware of if sending around a Bank Holiday or a weekend).

What customer support options are available?

You can contact Wells Fargo customer service on 1-800-956-4442, visit a local branch in-person, or use their help centre online for more information and advice about your account.

How to open an account and transfer money with Wells Fargo Bank

This section will detail exactly how to open an account with Wells Fargo and send money domestically and internationally. 

Opening an account

You can open a new Wells Fargo account at a local branch (the bank has over 8,000 branches so you should be able to find one nearby!), but you can also apply for your new account online for added convenience.

To do this, you’ll need to provide:

  • Your contact information
  • Your Social Security Number
  • A copy of a valid photo ID (passport or driving license)
  • The minimum opening deposit amount

Transferring money

You can transfer your money online, on the Wells Fargo banking app, or at a local branch in-person.

If you’re sending money online, you’ll simply need to navigate to the ‘Wire money’ section of your account, enter your recipient’s details, the sum you are sending, and what foreign currency you are looking to exchange between.

Wells Fargo should give you a clear breakdown of your maximum sending limit and the exchange rate you will get – make sure you keep in mind the fees you’ll be charged for a wire transfer too.


Wells Fargo one of the largest banks in the US, with a huge presence and millions of customers relying on their services every single day around the world. It is, therefore, safe to assume that you will be using a reliable and secure service to manage your money and make international transfers with this company.

However, compared to most specialist money transfer operators, you will pay more in fees and the Wells Fargo currency exchange rate margins when sending money internationally. If this is your main priority, you may want to consider comparing money transfer operators to find a better deal for your transfer needs.

April Summers

April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.