Take advantage of a range of secure and reliable international money transfer options with Wells Fargo.
When you need to send money to loved ones overseas, Wells Fargo offers a range of options to help guarantee the safe and efficient transfer of your money. The bank’s ExpressSend service allows you to send funds to 13 countries around Latin America and Asia.Whether you want to make a one-off international payment or schedule regular transfers, Wells Fargo has the resources to help you manage your international payments.
What is Wells Fargo?
With thousands of home mortgage offices across the US and 70 million customers globally, Wells Fargo is one of the world’s largest banks. Among its services is ExpressSend, which you can use to send money to Mexico, Central and South America, the Caribbean and Asia.
Who charges less?
Independent transfer services usually win over banks when it comes to fees. There are several providers who will send a transfer for free with competitive exchange rates, including OFX, HiFX and World First.
Check out our review of World First here and take advantage of their exclusive $0 fee offer.
See how other services compare to Wells Fargo
How much does it cost to send money with Wells Fargo?
It’s free to sign up for the ExpressSend Service and there are no ongoing account fees or any charges that must be paid by your beneficiary. However, a transaction fee does apply to every transfer and the amount of this fee varies depending on where you are sending your money. For example, sending $1,000 to China will attract a $9 transfer fee while sending the same amount to India through ICICI Bank will not attract a fee. A transfer to India of less than $500, however, would attract a $5 transfer fee.
Use the ‘Remittance Cost Estimator’ on the Wells Fargo website to calculate the fee that will apply to your transaction. In addition, this fee can be discounted if you open an eligible Wells Fargo checking account.
The exchange rate you will receive for your transaction varies according to the remittance network member that handles the transfer. Each provider updates its rates regularly to keep pace with market developments, so use the ‘Remittance Cost Estimator’ to determine the current exchange rates.
How can you send money overseas with Wells Fargo?
Wells Fargo allows you to send an instant transfer online, over the phone or by visiting a Wells Fargo branch. Your recipient can then access the money by picking up the cash in person or by having it deposited into their account with the receiving financial institution.
Before sending your first transfer, you will need to speak to someone at your local Wells Fargo branch or phone the bank to discuss your needs and work out which transfer option is best for you. Next, you can inform the bank who will be receiving your money, through which remittance network member, and how you would like them to access it. Wells Fargo will then establish the transfer details and prepare your transaction.
It’s important to note that the first remittance you send under any ExpressSend service agreement must be lodged at a branch or, for eligible customers, over the phone. Subsequent transactions can then be lodged over the phone, online or in a branch.
Alternatively, if you wish to send funds for business purposes you may like to investigate the wire transfer and foreign bank draft options available from Wells Fargo.
What do I need to send money through Wells Fargo?
To send money through Wells Fargo, you’ll need to enroll in ExpressSend using your Wells Fargo checking or savings account.
Sending a transfer involves visiting or calling a Wells Fargo branch with:
- Your recipient’s name and physical address. The address must be in the country you’re sending to and can’t be a PO box.
- Your recipient’s phone number, which must be in the receiving country or in the US. You’ll need to indicate whether it’s a mobile number or landline.
- If you’re sending to a bank account, you’ll need the bank and account information. If you’re sending for cash pickup, you’ll need to select a participating bank or other network provider for the pickup.
Steps to transfer your money online
While you can review whether Wells Fargo transfers to particular countries online, you’ll ultimately need to call or visit a Wells Fargo branch to initiate a transfer.
To use ExpressSend, you need a Wells Fargo checking or savings account and an ExpressSend Service Agreement naming your recipient. If you don’t have either, you can open an account or sign an agreement at a bank branch or by phone. However, you can’t open an account online.
To review whether Wells Fargo sends to a particular country, follow the steps below.
Step 1. Go to Wells Fargo’s website. Click the “Personal” tab and hover over “Banking.” In the box that appears, click “Global Remittance Services.”
Step 2. Click “Get started” for the part of the world you want to send to.
Step 3. Review the list of countries and Remittance Network Members in the “Overview” tab that can handle transactions in your selected country.
Step 4. Click the “How to enroll” tab to learn how to enroll in ExpressSend and send your first transfer. Call Wells Fargo at 800-556-0605 to make a transfer online or by phone.
Minimum transfer amount and available currencies
The minimum amount you can transfer using the Wells Fargo ExpressSend Service is $25. Daily transfer limits also apply and will vary depending on where you are sending your funds and which remittance network member your recipient will be picking up the funds from. For example, transfers to Mexico via Bancomer attract a $500 daily limit for cash pickup and a $1,500 limit for credit to an account. Transfers to India, however, go through ICICI Bank, Axis Bank, or HDFC Bank and incur a maximum daily limit of $5,000.
When you send money to Colombia, Dominican Republic, Honduras, Guatemala, India, Mexico, and the Philippines your funds will be sent in the local currency of each respective country. US Dollars are used for transfers to China, Ecuador, El Salvador, Nicaragua, Peru, and Vietnam.
What types of transfers can you carry out with Wells Fargo?
Wells Fargo offers the following types of transfers:
- Cash pickup from a receiving institution
- Online transfer to a bank account with a receiving institution
Depending on where you are sending your money, your transaction will be handled in conjunction with Wells Fargo’s remittance network member in that region. For example, transfers to the Dominican Republic are offered through Banco BHD Leon, Banco del Progreso and Banreservas, while transfers to China are handled by the Agricultural Bank of China.
How can I track my money transfer with Wells Fargo?
If you need to keep track of a transfer you can provide your transaction reference number to Wells Fargo or the receiving institution. Wells Fargo also offers phone and email customer service 24 hours a day, seven days a week, meaning that help is on hand whenever you need it. Alternatively, you can make use of a handy frequently asked questions section on the ExpressSend website to find the answers you need.
Pros and cons of using Wells Fargo
- Trusted bank. With a long history and an extensive list of awards to its name, Wells Fargo is a name you can trust in banking and international transfers
- Transfer options. You can lodge your international money transfer online, over the phone or by visiting a Wells Fargo branch
- Low minimum. With a minimum transfer amount of $25, Wells Fargo’s ExpressSend Service is great for those who only want to send small amounts of money
- Not for business purposes. Wells Fargo’s ExpressSend service is not available for business payments
Who is Wells Fargo?
Wells Fargo was founded by Henry Wells and William Fargo in San Francisco during the heady gold rush days of 1852. Though it started out serving the West, this American financial institution now has a nationwide base and some $1.7 trillion in assets. Through a network of 8,700 locations, 12,500 ATMs and online and smartphone platforms, Wells Fargo does business with approximately 70 million customers across the United States.
Wells Fargo does business with one in three US households and has operations in 36 countries around the world. 2014 was a big year for Wells Fargo as it was named “Most Respected Bank” by Barron’s magazine and also won the award for “Best U.S. Bank” from The Banker magazine.
As the eighth-biggest public company in the world, Wells Fargo is the number-one retail mortgage lender in the United States and the number-one small business lender. From everyday banking accounts and credit cards through to foreign currency exchange, Wells Fargo offers a wide variety of products and services to its customers.
Frequently asked questions about Wells Fargo
Where can I send money to using the ExpressSend service?
Wells Fargo ExpressSend allows you to send international money transfers to Mexico, Guatemala, Nicaragua, the Dominican Republic, Colombia, Ecuador, Peru, El Salvador, Honduras, the Philippines, India, Vietnam, and China.
If I opt for cash pickup, will my recipient have to visit a specific location to collect the money?
Yes. Your receiver will need to visit a branch of the remittance network member that handles your transaction.
Can I send money in US Dollars?
ExpressSend allows you to send US Dollars to the following destinations: China, Ecuador, El Salvador, Nicaragua, Peru, and Vietnam.
Can I send to more than one person?
Yes, but you are only allowed to have one beneficiary per ExpressSend service agreement. You will need to establish a separate agreement for each beneficiary.
How much money can I send with Wells Fargo’s ExpressSend?
You can send from $25 to $5,000 a day if the receiving institution accepts that much. Many of Wells Fargo’s Remittance Network Members limit transfers to between $500 and $1,500 per day, sometimes with higher limits for bank account transfers. There’s also a $12,500 limit on transfers every 30 days.
Can I specify more than one beneficiary for my transfers?
Yes, but you’ll need a separate ExpressSend Service Agreement for each beneficiary. You can have up to four active agreements at a time for most countries, but only two for the Dominican Republic or Nicaragua and only one for China.
Can I cancel an ExpressSend transaction?
Yes, if you’re quick. You have 30 minutes to contact Wells Fargo to get back all your funds, including fees, unless they’ve already been picked up or deposited to your recipient’s account.
How safe is a money transfer?
When processed through a reputable bank or company, your funds are safely tracked until in the hands of your recipient. And if you’re sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees up front and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.
If you need to send an international money transfer to Asia or Latin America, the ExpressSend Service from Wells Fargo offers a simple and effective solution. However, you should make sure to compare its features with those of other transfer providers to ensure that you get the fastest and most affordable service.