Different customers may receive different rates for transactions that are the same or similar, and the applicable exchange rate may be different for foreign currency cash, drafts, checks, or wire transfers. The exchange rate Wells Fargo provides to you may be different from exchange rates you see elsewhere. The applicable exchange rate does not include, and is separate from, any applicable fees. The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The exchange rate used when Wells Fargo converts one currency to another is set at our sole discretion, and it includes a markup. In addition to any applicable fees, Wells Fargo makes money when we convert one currency to another currency for you. Note: Less common currencies may take longer to process and deliver, due to limited availability. We'll send you an email confirmation when your order ships. The shipping and handling fee will be added to your total order amount. The shipping and handling fee may vary based on the USD amount of foreign currency cash that you order. More information about ordering foreign currency online or by phone: Please visit a Wells Fargo branch or call 1-80 to order. Orders over $3,000 (USD equivalent) are required to be shipped to a Wells Fargo branch. All currencies in your order will be sent in a single shipment and the delivery date will depend on availability of currencies. The minimum purchase amount for each currency is $25 (USD equivalent) and up to five types of currencies can be added to one order. Online orders are limited to a maximum of $3,000 (USD equivalent) per day and a minimum of $200 (USD equivalent) for one order. There is a $3,000 limit for home delivery. Use an eligible Wells Fargo checking or savings account to have foreign currency cash delivered to the home address saved in your Wells Fargo customer profile or to a nearby Wells Fargo branch. Call Wells Fargo at 1-80, Monday - Friday, 8am - 8pm, and Saturday 10am - 5pm, Eastern Time. Wells Fargo account holders can order foreign currency cash at any Wells Fargo branch, for branch pickup. Currently, Business accounts cannot be used when ordering foreign currency cash online or mobile, and branch delivery is not available online. Using an eligible Wells Fargo checking or savings account, it takes just minutes to place an order online or mobile and have foreign currency cash delivered to the home address saved in your Wells Fargo customer profile. Tap Menu on the bottom bar, select Account Services, then select Foreign Currency. Order using the Wells Fargo Mobile ® app. To order through Wells Fargo Online ®, log into online banking and select foreign currency cash under the Accounts tab. You can order foreign currency cash online, using the mobile app, in person or by phone and have currency delivered within 2-7 business days. Earlier this month, it was reported that Citigroup C too is considering taking its first steps in the cryptocurrency market, thanks to the spike in client interest.Note: Our branches no longer have foreign currency cash on-hand available for over-the-counter same-day purchase. Earlier in February, The Bank of New York Mellon Corporation BK became the first global custody bank to announce plans to form a new unit - Digital Assets - to help its institutional clients hold, transfer and issue digital assets. Wells Fargo’s move follows its peer Morgan Stanley’s MS endeavor to start offering clients access to three bitcoin funds, as reported this March. The WFII Global Investment Strategy Team believes long-term supply and demand trends in cryptocurrency will further aid the industry’s growth, apart from bearing potentiality to reduce its price volatility. Instead, cryptocurrency will be added as an alternative investment through professionally-managed funds, as a beneficial diversifier to portfolio holdings of qualified investors. So, strategic allocation to the currency as a standalone asset class is not what Wells Fargo advocates. Nonetheless, he believes the entire element of consumer protection and regulations also need to evolve with the changing landscape of cryptocurrency. Cronk also explained about “plenty of risks” around cryptocurrency investing, including operational, regulatory and technology failures. However, he also discussed the evolving nature of the asset which demands highly-efficient maintenance. The professionally-managed solution is expected to be added to the bank’s platform around mid-June 2021.Ĭronk believes the cryptocurrency arena is maturing and its development permits it now to be a feasible investable asset. These endeavors are being headed by the head of Global Manager Research, a division of WFII, Greg Maddox.
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