Why deal in foreign currency?
Dealing in foreign currency can save you time and money, reduce risk, and help you gain a competitive advantage. • 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 subject to less 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 better price with your overse
