International wire transfer to bank of america
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On the plus side, however, wire transfers offer a degree of security. There’s typically a fee to send wire transfers even when using your own bank. You can either send directly through your own bank or use a nonbank provider such as Walmart or MoneyGram. Wire transfers can be sent to domestic or international accounts. It can be used for personal or business purposes. What is a wire transfer?Ī wire transfer is a type of electronic payment that moves funds between two different accounts. Yet there are drawbacks, including costly fees and no margin for error-if you get something incorrect, the wrong person may get the cash and there’s little chance of getting it back. Whether you’re making a down payment on a house or sending money to family abroad, a wire transfer can be quick and easy. For more information, see the "Applicable Exchange Rate" and "Incoming international wire transfer" sections of the Deposit Account Agreement.įees may be charged by third parties or other banks, in addition to those described above.A wire transfer is a way to send and receive money securely anywhere in the world. dollars using the applicable exchange rate without prior notice to you. Incoming wire transfers received in a foreign currency for payment into your account will be converted into U.S. We may refuse to process any request for a foreign exchange transaction. Wells Fargo is your arms-length counterparty on foreign exchange transactions. Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks.
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Different customers may receive different rates for transactions that are the same or similar, and the applicable exchange rate may be different for foreign currency cash, drafts, checks, or wire transfers. The exchange rate Wells Fargo provides to you may be different from exchange rates you see elsewhere. The applicable exchange rate does not include, and is separate from, any applicable fees. The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The exchange rate used when Wells Fargo converts one currency to another is set at our sole discretion, and it includes a markup. Whether or not the wire transfer fee is waived, Wells Fargo makes money when we convert one currency to another currency for you.
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To send a domestic wire, you will also need: