Sending Money Internationally can be straightforward with the right service. Wells Fargo’s ExpressSend® service offers a way to remit funds to beneficiaries abroad, but it’s important to understand the process and conditions involved. This guide breaks down the key aspects of using ExpressSend for international money transfers.
To initiate your first ExpressSend remittance, you’ll typically need to visit a Wells Fargo branch in person. This initial in-person requirement is for security and verification purposes. However, for customers with existing checking or savings accounts, there might be an option to complete the first transaction by phone through the Wells Fargo Phone Bank. This is subject to authentication and additional security checks. Subsequent transfers can be conveniently made at a branch, via phone, or online through Wells Fargo Online® on a desktop or laptop computer. It’s important to note that ExpressSend is not accessible through the Wells Fargo Mobile® app; online transfers require using a computer.
A person visiting a Wells Fargo branch to initiate an international money transfer.
When sending money internationally with ExpressSend, you can choose between two primary delivery methods: credit to account or cash pick-up. However, the availability of these methods can vary depending on the Remittance Network Members (RNMs) and their locations. For account credits, you’ll need the beneficiary’s deposit account number at the receiving RNM. For cash pick-up, ensure that the beneficiary’s name you provide precisely matches their government-issued identification to avoid any issues during collection.
Beneficiary at a cash pick-up location receiving international remittance.
It’s also crucial to be aware of potential disruptions that could affect cash pick-up services. Unforeseen circumstances such as natural disasters, civil unrest, system outages, currency shortages, local regulations, or security concerns in specific locations might lead to the unavailability of cash pick-up remittances at certain RNMs or cities. If your beneficiary encounters any problems with cash pick-up, immediate assistance is available by contacting Wells Fargo at 1-800-556-0605.
Beyond the standard transfer fee associated with ExpressSend, it’s important to understand how currency exchange rates are handled. Wells Fargo generates revenue through currency conversion when you send money internationally. The exchange rate applied to your transaction is determined by Wells Fargo at their discretion and includes a markup. For detailed information regarding ExpressSend and foreign currency exchange, refer to the ExpressSend Terms and Conditions available on the Wells Fargo website, under Sender’s Rights.
Graphical representation of money being transferred internationally.
In conclusion, Wells Fargo ExpressSend offers a service for sending money internationally, with options for in-person, phone, and online transfers after the initial setup. Be mindful of the delivery method limitations, potential service disruptions, and the currency exchange process which includes a markup. For comprehensive details, always consult the official ExpressSend Terms and Conditions.
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