As you start your trip, having local currency on hand lets you easily cover immediate expenses without needing to hunt down a currency exchange office. On your return, we can often buy back unused foreign currency cash at a Wells Fargo branch.
We do not buy back all currencies, and buy-back rates differ from rates for ordering cash. We do not buy back coins. Foreign currency cash is intended for travel-related purposes only. Wells Fargo does not recommend foreign currency cash as an investment product.
We also offer foreign currency drafts payable in select foreign currencies and accept checks issued in a number of foreign countries and currencies. To speak with a representative about foreign bank drafts, visit your local Wells Fargo branch or call 1-800-678-4653.
In addition to any applicable fees, Wells Fargo makes money when we convert one currency to another currency for you. The exchange rate used when Wells Fargo converts one currency to another is set at our sole discretion, and it includes a markup. The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The applicable exchange rate does not include, and is separate from, any applicable fees. The exchange rate Wells Fargo provides to you may be different from exchange rates you see elsewhere. 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. Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks. Wells Fargo is your arms-length counterparty on foreign exchange transactions. We may refuse to process any request for a foreign exchange transaction.
Exchange rates fluctuate, at times significantly, and you acknowledge and accept all risks that may result from such fluctuations. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us in our sole discretion based upon such factors as we determine relevant, including without limitation, market conditions, exchange rates charged by other parties, our desired rate of return, market risk, credit risk and other market, economic and business factors, and is subject to change at any time without notice. You acknowledge that exchange rates for retail and commercial transactions, and for transactions effected after regular business hours and on weekends, are different from the exchange rates for large inter-bank transactions effected during the business day, as may be reported in The Wall Street Journal or elsewhere. Exchange rates offered by other dealers or shown at other sources by us or other dealers (including online sources) may be different from our exchange rates. The exchange rate you are offered may be different from, and likely inferior to, the rate paid by us to acquire the underlying currency.
In connection with our market making and other activities, we may engage in hedging, including pre-hedging, to mitigate our risk, facilitate customer transactions and hedge any associated exposure. Such activities may include trading ahead of order execution. These transactions will be designed to be reasonable in relation to the risks associated with the potential transaction with you. These transactions may affect the price of the underlying currency, and consequently, your cost or proceeds. You acknowledge that we bear no liability for these potential price movements. When our pre-hedging and hedging activity is completed at prices that are superior to the agreed upon execution price or benchmark, we will keep the positive difference as a profit in connection with the transactions. You will have no interest in any profits.
Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have.
If you prefer that we do not use this information, you may opt out of online behavioral advertising. If you opt out, though, you may still receive generic advertising. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.
Also, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. These ads are based on your specific account relationships with us.
Online orders are limited to a maximum of $3,000 (USD equivalent) per day and a minimum of $200 (USD equivalent) for one order. The minimum purchase amount for each currency is $25 (USD equivalent) and up to five types of currencies can be added to one order. All currencies in your order will be sent in a single shipment and the delivery date will depend on availability of currencies.
More information about ordering foreign currency online or by phone: The shipping and handling fee may vary based on the USD amount of foreign currency cash that you order. The shipping and handling fee will be added to your total order amount. We'll send you an email confirmation when your order ships. Note: Less common currencies may take longer to process and deliver, due to limited availability. Delivery to Alaska, Hawaii, and U.S. territories may take longer. A signature is required upon delivery. We do not deliver to P.O. boxes.
Think about the currency exchange rate the same way you think about buying produce at the grocery store. For instance, you might get three pounds of oranges for $4.00 one day, but a week later, you can get those same three pounds for $2.79. The value of your dollar is stronger (gets you more) when the oranges are $2.79 and weaker when you have to pay $4.00.
To help you save the most on currency exchange rates and avoid potential fees for international transactions, use the tips below to plan for your next trip abroad. More money in your pocket and less spent on unnecessary fees means more to spend on your globetrotting adventures.
One of the best ways to minimize currency exchange fees is to visit your bank or credit union before you leave the U.S. to exchange dollars for the currency of your destination. Depending on which country (or countries) you plan on visiting, most major U.S. banks will have foreign currency available to sell to you without charging an additional fee beyond the exchange rate. For example, Wells Fargo offers 70 currencies for use in more than 100 countries, and Bank of America exchanges currencies for more than 100 countries.
Once you arrive at your destination, you may choose to conserve your foreign cash and pay with your credit or debit card as much as possible. But this can pose another problem: foreign transaction fees.
Many U.S. banks will exchange USD for foreign currencies without charging a fee, but there are often stipulations. For instance, Bank of America customers can exchange foreign currencies for free, but only on orders of $1,000 or more. Otherwise, the bank charges a $7.50 delivery fee for foreign currency orders.
Before you plan your next international trip, give some thought to how you want to pay for everyday purchases. Understanding currency exchange fees, foreign transaction fees, ATM withdrawal limits and other aspects of paying in foreign currencies can help you save money and time and enjoy your travels to the fullest.
Many major international banks will accept U.S. dollars and give you the local currency in exchange. Some smaller banks you encounter during your travels may not be equipped to accept USD, so stick with bank names you recognize.
In branchUS dollars, Euros, and Pounds Sterling are available at most TD branches. Other foreign currencies can be ordered and delivered to your preferred TD branch within 3-5 business days.
Foreign currency accountsManage foreign exchange risk by holding funds in the foreign currency of your choice. Maintain the Minimum Monthly Balance in select currencies to waive the Monthly Account Fee. Visit a TD branch for details.
The WESTERN UNION name, logo and related trademarks and service marks, owned by Western Union Holdings, Inc., are registered and/or used in the U.S. and many foreign countries and are used with permission.
1 Estimated delivery time varies by country and will be displayed to you at the time of transaction. Transfer may be rejected, frozen or held due to regulations, policies and/or laws. Actual timing for funds availability varies by financial institution and depends on various factors, including regulations in the destination country, currency, amount of transfer, fraud screening in destination country and/or any other reason beyond the control of TD. 59ce067264