Sending money internationally, especially to loved ones in Mexico, can feel like a complex task. But with Wells Fargo's dedicated services, it's a process that can be navigated with ease and confidence. This comprehensive guide will walk you through each step, ensuring your funds reach their destination safely and efficiently.
Ready to make that important transfer? Let's dive in!
How to Send Money to Mexico with Wells Fargo: A Step-by-Step Guide
Wells Fargo offers a popular service called ExpressSend®, which is specifically designed for sending money to various countries, including Mexico. It provides a convenient and reliable way to get funds to your beneficiaries.
Step 1: Understand Your Options and Enroll in ExpressSend®
Before you send your first transfer, it's crucial to understand the service and get set up.
Sub-heading: What is Wells Fargo ExpressSend®?
The Wells Fargo ExpressSend® service is a person-to-person remittance service that allows you to send money from your eligible Wells Fargo checking or savings account to family and friends in Mexico. It offers two primary delivery methods for your beneficiary:
- Cash pick-up: Your beneficiary can pick up the cash at a participating Remittance Network Member (RNM) location in Mexico.
- Credit to account: The funds are deposited directly into your beneficiary's bank account in Mexico.
Sub-heading: Enrolling in the ExpressSend® Service
To use ExpressSend®, you first need to establish a Service Agreement. This agreement is opened on an individual basis in your name.
- Initial Setup - In Person or By Phone: The first remittance you send under each service agreement must be initiated in person at a Wells Fargo branch. If you have an existing checking or savings account, you may be able to initiate your first remittance by calling the Wells Fargo Phone Bank, subject to caller authentication and fraud prevention controls.
- Eligibility: You must be the sole owner, a primary or secondary joint owner, or have power of attorney on the funding account to use ExpressSend®.
Minors are not allowed to enroll. - Information Needed for Enrollment: When you enroll, you'll need to provide:
- Your beneficiary's full name, address, and telephone number. The address must be a physical address in Mexico (P.O. boxes are not allowed). The phone number should be a Mexican number or a U.S. number, and you'll need to specify if it's a mobile or landline.
- The Remittance Network Member(s) to which your funds should be sent. These are the local institutions in Mexico where your beneficiary can receive the money. Wells Fargo partners with various banks and businesses in Mexico for cash pick-up and account deposits.
Step 2: Gathering Recipient Information and Understanding Key Details
Accurate information is vital for a smooth transaction. This step focuses on the details you'll need for your Mexican beneficiary.
Sub-heading: Essential Beneficiary Information
Whether for cash pick-up or direct deposit, ensure you have the following details accurate and complete:
- Full Legal Name: This must exactly match the name on your beneficiary's government-issued identification if they are picking up cash.
- Physical Address: A complete street address in Mexico. Remember, no P.O. Boxes!
- Phone Number: A valid phone number in Mexico, or a U.S. number if that's how they can be reached. Specify if it's a mobile or landline.
- Remittance Network Member: This is the specific bank or location where your beneficiary will receive the money. Wells Fargo works with several, including BBVA, Banco Santander, Banorte, Telecomm Telegrafos (Financiera para el Bienestar), Soriana, Farmacias Guadalajara, and Bodega Aurrera/Walmart/Walmart Express for Mexico.
- For Bank Deposits (if applicable):
- Beneficiary's Bank Name: The full name of their bank in Mexico.
- Beneficiary's Account Number: This could be a CLABE (Clave Bancaria Estandarizada) for Mexico, which is an 18-digit interbank standard.
Sub-heading: Understanding Fees and Exchange Rates
- ExpressSend® Fees: Fees for ExpressSend® transfers to Mexico are generally low, currently listed at $6.00 per transaction. However, fees can vary and are subject to change. Always check the ExpressSend Remittance Cost Estimator on the Wells Fargo website or speak with a banker for the most current fees.
- Exchange Rates: Wells Fargo makes money when converting one currency to another. The exchange rate provided to you is set by Wells Fargo and includes a markup. This means the rate you see might be slightly different from the interbank exchange rate you find online. For transfers to Mexico, Wells Fargo converts USD to Mexican Pesos (MXN) based on the exchange rate in effect at the time of the transaction.
- No Beneficiary Fees: There are no ExpressSend Service enrollment fees, no monthly or annual maintenance fees, and no fees for your beneficiary to receive the money.
Step 3: Initiating Your Transfer
Once your ExpressSend® Service Agreement is set up and you have all the necessary information, you can initiate your money transfer.
Sub-heading: Ways to Send Money
- In-person at a Wells Fargo Branch: As mentioned, the first transfer under each new Service Agreement often requires an in-person visit. This allows for thorough verification.
- Wells Fargo Phone Bank: After your initial in-person or verified phone transfer, you may be able to send subsequent remittances by calling the Wells Fargo Phone Bank.
- Wells Fargo Online®: For subsequent remittances, you can conveniently send money through Wells Fargo Online® using a desktop or laptop. Note: ExpressSend is generally not available on the Wells Fargo Mobile® app for international transfers.
- Online Steps:
- Sign on to Wells Fargo Online®.
- Navigate to the "Transfer & Pay" section.
- Look for options related to "Wire Money" or "Send Money Internationally" (specifically for ExpressSend®).
- Select your beneficiary from your established ExpressSend® Service Agreements.
- Enter the amount you wish to send.
- Review the fees and exchange rate that will be applied. This is a crucial step to ensure you're comfortable with the total cost.
- Confirm the transaction.
- Online Steps:
Sub-heading: Transfer Limits
Wells Fargo has daily and 30-day rolling transfer limits for ExpressSend® transactions. These limits can vary by the Remittance Network Member and delivery method in Mexico.
- Generally, the minimum amount you can send is $25.
- The maximum daily amount you can send to all beneficiaries using multiple ExpressSend® Service Agreements is typically $5,000.
- The maximum total amount you can send during any 30-day rolling period using ExpressSend® is generally $12,500.
- Individual RNMs in Mexico may have their own daily or monthly limits. For example, BBVA might have a $650 cash pickup daily limit, while Banorte might allow $1,000. Always refer to the Wells Fargo ExpressSend Transfer Limits page or consult with a banker for precise, up-to-date limits for your chosen RNM in Mexico. For higher limits, you may need to visit a local branch.
Step 4: Tracking Your Transfer
Once you've initiated the transfer, you'll want to ensure it reaches your beneficiary.
Sub-heading: How to Track Your ExpressSend® Transfer
Wells Fargo offers a Payment Tracker tool that allows you to check the status of certain international payments.
- You will typically need the Sender Reference (Sending Bank's Reference Number) or the SWIFT UETR (Unique End to End Tracking Number) for your transfer.
- Visit the Wells Fargo Payment Tracker page (often found under "Transfer & Pay" or "International Remittances" sections on their website).
- Enter the required transaction number to view the status.
- Keep in mind: The display of information on the Payment Tracker may not be real-time and could be delayed.
Sub-heading: What to Expect for Delivery Times
- Cash Pick-up: Funds for cash pick-up are often available quickly, sometimes within minutes, depending on the Remittance Network Member and their operating hours.
- Credit to Account: For deposits directly to an account, it may take up to five business days for the beneficiary's account details to be established for the first transfer. Subsequent transfers to an established account are generally faster, typically within 1-3 business days. Factors like bank holidays and security checks can influence delivery times.
Step 5: Post-Transfer Considerations and Support
Even after the transfer is sent, there are a few things to keep in mind and resources available if you need assistance.
Sub-heading: What if there's an issue?
- Incorrect Details: If you realize you've provided incorrect beneficiary details, contact Wells Fargo immediately. Incorrect details can cause significant delays or even rejection of the transfer. It may be possible to correct or recall the transaction, but time is of the essence.
- Error Resolution: If you believe there's an error or problem with your transfer, contact the Wells Fargo ExpressSend® customer service team within 180 days of the promised availability date. They will investigate and correct any errors promptly.
Sub-heading: Wells Fargo Customer Service
- For questions specifically about the ExpressSend® service, you can call 1-800-556-0605. This line is typically available 24 hours a day, 7 days a week.
- For general banking inquiries or other international transfer questions, you can find other contact numbers on the Wells Fargo website under their "Contact Us" section. They also have international access codes for calling from outside the U.S.
10 Related FAQ Questions
How to check Wells Fargo ExpressSend® fees for Mexico?
You can check the current ExpressSend® fees for Mexico by using the Wells Fargo ExpressSend Remittance Cost Estimator tool online or by speaking with a Wells Fargo banker at a branch or by phone.
How to find a Wells Fargo ExpressSend® location in Mexico for cash pickup?
Wells Fargo partners with various Remittance Network Members (RNMs) in Mexico for cash pick-up, such as BBVA, Banco Santander, Banorte, Telecomm Telegrafos, Soriana, Farmacias Guadalajara, and Walmart/Bodega Aurrera. You can find a list of preferred networks on the Wells Fargo international remittances website or by asking a banker during enrollment.
How to track my Wells Fargo money transfer to Mexico?
You can track your international wire payments using Wells Fargo's Payment Tracker tool online. You'll need the Sender Reference number or the SWIFT UETR (Unique End to End Tracking Number) for your transaction.
How to increase Wells Fargo ExpressSend® transfer limits to Mexico?
Wells Fargo ExpressSend® has standard daily and 30-day rolling limits. To request higher limits, you generally need to visit your local Wells Fargo branch and speak with a banker.
How to provide beneficiary details for a Wells Fargo ExpressSend® transfer to Mexico?
During enrollment for ExpressSend®, you will provide your beneficiary's full name, physical address in Mexico, and phone number. For bank deposits, you'll also need their bank name and CLABE (18-digit interbank account number).
How to know the exchange rate Wells Fargo will use for a transfer to Mexico?
The exchange rate for your Wells Fargo ExpressSend® transfer to Mexico will be disclosed to you at the time you initiate the transaction, both online and in-branch. This rate includes a markup set by Wells Fargo.
How to cancel a Wells Fargo ExpressSend® transfer to Mexico?
To cancel an ExpressSend® transfer, contact Wells Fargo immediately by calling 1-855-339-6655 or by logging into Wells Fargo Online® and navigating to the "Transfer and Pay" section to select "Wire Money" and initiate a cancellation request. Refunds are typically processed within three business days if the funds haven't been picked up or deposited.
How to find my Wells Fargo ExpressSend® Service Agreement?
Your ExpressSend® Service Agreement details are typically stored within your Wells Fargo banking profile. You may be able to view them online or request a copy from a Wells Fargo banker.
How to contact Wells Fargo customer service for international transfers to Mexico?
For ExpressSend® specific questions, you can call 1-800-556-0605. For general international wire transfer inquiries or other banking needs, refer to the "Contact Us" section on the Wells Fargo website for relevant phone numbers, including international access codes if you're calling from outside the U.S.
How to send money to a bank account in Mexico versus cash pickup with Wells Fargo?
When setting up your ExpressSend® Service Agreement, you will specify whether your beneficiary will receive funds via cash pickup or direct credit to their account. If choosing direct credit, you will need the beneficiary's bank name and their CLABE (18-digit account number).
