We may refuse to process any request for a foreign exchange transaction. Wells Fargo is your arms-length counterparty on foreign exchange transactions. Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks. 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. Whether or not the wire transfer fee is waived, Wells Fargo makes money when we convert one currency to another currency for you. Some countries also require you to provide a purpose of payment.
Of course, if you prefer a more personal touch, you can always make an in-person wire transfer at your local Bank of America branch. You can send both domestic and international wire transfers to your own accounts, businesses or others from right inside your online Bank of America account.