Planning a trip to Europe or need to conduct business in Euros? Getting your foreign currency in advance can save you time and hassle, and Wells Fargo offers a convenient way for account holders to do just that. This comprehensive guide will walk you through every step of ordering Euros from Wells Fargo, ensuring you're well-prepared for your international endeavors.
Ready to get your Euros? Let's dive in!
Before you even start, it's a good idea to know approximately how many Euros you'll need. While it's impossible to predict every expense, having an estimate helps you decide on the right amount to order. Remember, it's often better to have a little extra than to run out when you're abroad!
Step 1: Determine Your Method of Ordering
Wells Fargo provides a couple of primary ways to order foreign currency cash, including Euros. You can choose the one that's most convenient for you:
Sub-heading 1.1: Ordering Online through Wells Fargo Online®
This is often the most straightforward and preferred method for many. If you have an active Wells Fargo online banking account, you're good to go!
Sub-heading 1.2: Ordering via the Wells Fargo Mobile® App
For those who prefer managing their banking on the go, the Wells Fargo Mobile® app offers a similar, streamlined experience.
Sub-heading 1.3: Ordering In-Person at a Wells Fargo Branch
While online and mobile ordering are convenient, you can still place an order at a physical branch. Keep in mind that branches no longer have foreign currency cash on-hand for same-day purchase, so you'll still need to order and wait for delivery.
Step 2: Access the Foreign Currency Order Section
Once you've decided on your ordering method, here's how to navigate to the correct section:
Sub-heading 2.1: For Wells Fargo Online® Users
- Log In: Go to the Wells Fargo website (wellsfargo.com) and log in to your Wells Fargo Online® account using your username and password.
- Navigate to "Accounts": Once logged in, look for the "Accounts" tab or section. This is usually a prominent part of the main navigation.
- Find "Foreign Currency Cash": Under the "Accounts" tab, you should see an option related to "Foreign Currency Cash" or "Foreign Exchange." Click on this.
Sub-heading 2.2: For Wells Fargo Mobile® App Users
- Open and Sign In: Launch the Wells Fargo Mobile® app on your smartphone or tablet and sign in.
- Tap "Menu": Look for the "Menu" icon, typically located at the bottom bar of the app.
- Select "Account Services": From the menu, tap on "Account Services."
- Choose "Foreign Currency": Within "Account Services," you'll find the "Foreign Currency" option. Tap on it to proceed.
Sub-heading 2.3: For In-Branch Ordering
- Locate a Branch: Use the Wells Fargo branch locator tool on their website or app to find the nearest branch.
- Visit During Business Hours: Go to the branch during their operating hours.
- Speak with a Banker: Inform a banker that you wish to order Euros. They will guide you through the process, but remember, the currency will not be available immediately.
Step 3: Place Your Order Details
Now it's time to specify your Euro order!
Sub-heading 3.1: Entering Your Order Information
- Select Euro (EUR): From the list of available currencies (Wells Fargo offers over 70!), choose Euro (EUR).
- Enter Amount: You'll be prompted to enter the amount of foreign currency you wish to order. You can typically enter this in USD, and it will show you the equivalent in Euros, or vice-versa. Be mindful of minimum order amounts. Wells Fargo typically has a minimum order of $200 USD.
- Review Exchange Rate: The system will display the current exchange rate for your Euro order. Pay close attention to this rate, as it includes a markup by Wells Fargo. This markup is how the bank generates revenue on currency conversions.
- Delivery Method: You'll have the option to choose how you want to receive your Euros:
- Home Delivery: Have the Euros shipped directly to your registered Wells Fargo account address.
- Branch Pickup: Pick up your Euros at a Wells Fargo branch. Note: If your order is over $3,000 USD, you will likely be required to pick it up at a branch for security reasons.
Sub-heading 3.2: Understanding Fees and Exchange Rates
It's crucial to be aware of the costs involved:
- Exchange Rate Markup: As mentioned, Wells Fargo sets its own exchange rates, which include a markup. This means the rate you get will be different (less favorable for you) than the "mid-market rate" you see on Google or financial news sites.
- Shipping and Handling Fee: A shipping and handling fee will be added to your total order. This fee can vary based on the USD amount of your foreign currency cash order.
Step 4: Confirm and Submit Your Order
Carefully review all the details of your order before finalizing it.
Sub-heading 4.1: Double-Checking Your Order
- Verify Currency and Amount: Ensure you've selected Euros and the correct amount.
- Confirm Delivery Address/Branch: Check that the delivery address or selected pickup branch is accurate.
- Review Total Cost: Look at the total amount in USD that will be debited from your account, including the Euros themselves, the exchange rate markup, and any shipping/handling fees.
Sub-heading 4.2: Payment and Confirmation
- Select Funding Account: Choose the Wells Fargo account from which you want the funds to be debited.
- Authorize Transaction: Follow the prompts to authorize the transaction.
- Receive Confirmation: Once submitted, you should receive an email confirmation when your order ships, or a confirmation number if picking up at a branch. Keep this confirmation handy!
Step 5: Receive Your Euros
The waiting game begins!
Sub-heading 5.1: Delivery Timeline
- Standard Delivery: For most foreign currency cash orders, delivery can take 2-7 business days. This is why it's highly recommended to order your Euros well in advance of your travel date.
- Faster Options (if available): While Wells Fargo's typical delivery window is 2-7 days, some services like Bank of America advertise faster delivery (1-3 business days standard, 1 business day expedited for some orders). It's worth confirming the exact delivery time frame when you place your order with Wells Fargo, as it can vary.
Sub-heading 5.2: What to Expect Upon Delivery/Pickup
- Home Delivery: Your Euros will be delivered to the address you provided, likely requiring a signature.
- Branch Pickup: You will receive a notification when your Euros are ready for pickup at the selected branch. Be sure to bring valid identification when you go to collect them.
Important Considerations & Tips:
- Order in advance! Do not wait until the last minute to order your foreign currency. The 2-7 business day delivery window is a firm one.
- Compare exchange rates. While convenient, banks often don't offer the absolute best exchange rates. Consider comparing Wells Fargo's rate with other services (like specialized currency exchange providers) if you're looking to maximize your Euros. However, for smaller amounts, the convenience often outweighs the slight difference in rate.
- Don't carry all your cash. Once you receive your Euros, it's wise to diversify your funds. Use a combination of cash, credit cards (check for foreign transaction fees!), and debit cards (check for international ATM fees) while traveling.
- Unused currency. Wells Fargo can often buy back unused foreign currency cash at a branch upon your return. Be aware that the "buy back" rate will likely be less favorable than the "sell" rate you received when ordering.
10 Related FAQ Questions
How to check the current Wells Fargo Euro exchange rate?
You can check the current exchange rate for Euros when you are logged into Wells Fargo Online® and navigate to the foreign currency ordering section, or by asking a representative at a Wells Fargo branch.
How to find my nearest Wells Fargo branch for foreign currency pickup?
You can find your nearest Wells Fargo branch by using the "Locations" or "ATM & Branch Locator" tool on the Wells Fargo website or within their mobile app.
How to cancel a Wells Fargo foreign currency order?
To inquire about canceling a foreign currency order, you should contact Wells Fargo customer service immediately by phone or visit your local branch. Cancellation policies and feasibility may vary.
How to send Euros as an international wire transfer with Wells Fargo?
You can send Euros as an international wire transfer through Wells Fargo Online®, the Wells Fargo Mobile® app, or by visiting a branch. Navigate to the "Transfer & Pay" section and select "Wire Money," then choose the foreign currency option.
How to avoid foreign transaction fees when using cards abroad?
To avoid foreign transaction fees, consider using a credit card that specifically advertises no foreign transaction fees. Alternatively, you can use a debit card for ATM withdrawals, but be aware of potential ATM network fees from both Wells Fargo and the local ATM provider.
How to contact Wells Fargo customer service for foreign currency questions?
For questions about foreign currency, you can typically call Wells Fargo's general customer service line (1-800-869-3557) or their online customer service number (1-800-956-4442). International access codes are also available on their website.
How to determine how many Euros I should order for my trip?
Consider your daily expenses, planned activities, and how much you prefer to pay in cash versus cards. It's often recommended to have enough cash for initial expenses (transport, small meals) and then rely on cards for larger purchases.
How to track my Wells Fargo foreign currency order?
Wells Fargo will typically send you an email confirmation when your foreign currency order ships. For in-branch pickups, you should receive a notification when your order is ready. You might be able to track it online within your Wells Fargo account, or by contacting customer service.
How to exchange leftover Euros back to USD at Wells Fargo?
You can exchange unused Euros back to USD at a Wells Fargo branch. Be aware that the exchange rate for buying back currency will likely be less favorable than the rate you received when you purchased them.
How to ensure my Wells Fargo account is ready for international travel?
Before traveling, notify Wells Fargo of your travel plans (especially for credit/debit cards) to prevent your cards from being flagged for suspicious activity. You can usually do this through your online banking account or by calling customer service.