How Much is a Dollar Worth in Euros? Understanding Wells Fargo’s Exchange Rate

Wells Fargo makes a profit on currency conversions, regardless of whether you’re exempt from wire transfer fees. The exchange rate used by Wells Fargo for currency conversion is determined at their discretion and includes a markup. This markup compensates for various factors, including costs incurred, market risks, and desired profit. The applicable exchange rate doesn’t include, and is separate from, any applicable fees.

The exchange rate provided by Wells Fargo might differ from rates you see elsewhere. Different customers might receive different exchange rates for identical or similar transactions. The applicable rate can vary based on factors including, but not limited to, the currency pair, transaction size, payment channel, and product type (e.g., cash, checks, money transfers, and foreign currency wire transfers).

Foreign exchange markets are dynamic, and rates fluctuate over time due to market conditions, liquidity, and risks. Wells Fargo acts as your independent counterparty in foreign exchange transactions and reserves the right to refuse any foreign exchange transaction request.

Incoming wire transfers received in a foreign currency for payment into your account will be converted to US dollars using the applicable exchange rate without prior notice. For further details, refer to the “Applicable Exchange Rate” and “Incoming International Wire Transfers” sections of the Deposit Account Agreement.

Third-party banks or other institutions may charge additional fees beyond those described above.