The exchange rate provided to you is set by Wells Fargo in its sole discretion, and it includes a markup over Wells Fargo’s cost of sourcing the relevant currency or currencies….The exchange rate Wells Fargo provides to you may be different from exchange rates you see online, in publications, at other banks or other foreign exchange providers. “Wells Fargo makes money when it converts one currency to another currency for you. Here’s what Wells Fargo says in their wire transfer terms and conditions: That means the rate will be worse than the one you find using a Google search - which pushes up the overall price. It’s good to know that the exchange rate provided by Wells Fargo will include a markup against the mid-market rate. If you want to arrange an international wire payment with Wells Fargo you’ll need to get a specific quote to show the fee and exchange rate which will be used. Here are the standard Wells Fargo outgoing wire transfer fees: Service typeįee quoted when you arrange payment - you’ll pay a transfer fee and a markup on the exchange rate used Some account types do not allow outgoing wire payments to be made at all, so check the smallprint for your specific account before proceeding. You might find that your account offers a certain number of free domestic wires per month, for example. The fees used for wire transfers can vary according to the account type you have. Send money oversears Wells Fargo Wire transfer fee
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