Whether you are waived from the wire transfer fee or not, Wells Fargo profits from converting one currency to another for you. The exchange rate used when Wells Fargo converts from one currency to another is set at their sole discretion and includes a markup. This markup is intended to compensate them for various considerations, including, but not limited to, costs incurred, market risks, and desired return. The applicable exchange rate does not include, and is independent of, any applicable fees.
The exchange rate Wells Fargo provides you may differ from exchange rates you see elsewhere. Different customers may receive different exchange rates for transactions that are identical or similar. The applicable exchange rate may vary based on factors that include, but are not limited to, the currency pair, the size of the transaction, the payment channel, and the product type, such as cash, checks, money orders, and foreign currency wire transfers. Foreign currency exchange markets are dynamic, and rates fluctuate over time based on market conditions, liquidity, and risks. Wells Fargo is your independent counterparty in foreign currency exchange transactions. They may refuse to process any request for a foreign currency exchange transaction.
Incoming wire transfers received in a foreign currency for payment into your account will be converted to U.S. dollars using the applicable exchange rate without prior notice to you. For further details, please refer to the “Applicable Exchange Rate” and “Incoming International Wire Transfers” sections of the Deposit Account Agreement.
Third parties or other banks may impose fees in addition to those described above.
