What is the benefit of sending or receiving foreign currency wires for my business?
Save time. When you send a wire in foreign currency the recipient does not have to wait for the overseas bank to accept it and convert it to local currency. Wires sent in foreign currency move directly to the foreign beneficiary and are less subject to delay than US denominated wires sent through intermediary banks. In many countries, Wells Fargo maintains accounts that can be used to receive incoming wires and accelerate collection times. Save money. When you send international wires in foreign currency, you pay lower fees than for US dollar international wires. You may also pay lower international bank fees. Reduce risk. By sending a wire in foreign currency you can lock in the exchange rate, secure your order, and know the full cost of the transaction before the wire is sent. Gain competitive advantage. You may be able to negotiate a more favorable price with your overseas business partner. By receiving a wire in local currency, the beneficiary will avoid assuming the risks of curre
