Does Wells Fargo offer multi-currency accounts? Full guide

A multi-currency account lets you hold, receive, and send money in different currencies all from one account. If you often travel internationally or work with overseas clients, it can help you save on fees and foreign currency conversions.

Unfortunately, Wells Fargo doesn't offer multi-currency accounts for individual customers. They do provide certain international banking services, but you can't get a Wells Fargo multi-currency account for personal use.

This guide will explore Wells Fargo’s international offerings. We’ll also take a look at alternatives, such as Wise, which lets you send, spend, and convert money like a local in multiple currencies.

What is a multi-currency account?

A multi-currency account (sometimes called a foreign currency account) is a bank account that allows you to hold money in multiple currencies at the same time. For example, you might keep USD, EUR, and GBP all in the same "umbrella" account.

This means you don't have to convert money back and forth when dealing with different currencies and can avoid exchange fees.

These foreign currency accounts are especially helpful if you:

• Receive payments from abroad
• Have expenses in foreign currencies
• Travel to other countries often
• Send money to family in other countries

Very few banks in the US offer multi-currency accounts. Those that do, like Citibank and HSBC, typically limit these accounts to their premium clients with high minimum balances or monthly fees.

So, they're often inaccessible to most everyday banking customers.

Does Wells Fargo offer multi-currency accounts?

No, Wells Fargo doesn't offer multi-currency accounts for personal use.

They do have an International Treasury Management service with some multi-currency features, but it's only available to business clients with global operations.¹

That said, Wells Fargo provides other international banking services like international wire transfers and foreign currency exchange. Here's everything you need to know about them.

Wells Fargo international services

Foreign currency exchange²

If you have an account with Wells Fargo, you can order foreign currency before you travel abroad (or if you need it for another reason).

You can order foreign currency in these ways:

• Through Wells Fargo's online banking portal under the "Accounts" tab
• Using the Wells Fargo mobile app (tap Menu → Account Services → Foreign Currency)
• By visiting any Wells Fargo branch in person

Orders typically take 2-7 business days to arrive, so make sure to place your foreign currency order in advance if you need it by a specific date. Wells Fargo can deliver the currency to your home or leave it for pickup at your local branch.

The minimum amount you can order is 200 USD. If your order is over 3,000 USD, you'll have to pick it up at a branch.

You'll also have to pay a Wells Fargo foreign currency fee, which can include shipping, handling, and a currency conversion fee. Like most banks, Wells Fargo adds a markup to the exchange rate when you buy foreign currency.

International wire transfers³

With Wells Fargo international wire transfers, you can send money to personal and business accounts in more than 200 countries. It's possible to transfer funds in USD or foreign currencies.

You'll have to pay an international wire transfer fee to send your money:

• 25 USD if you send the wire online (Digital Wires)
• 40 USD if you visit a branch to send the wire

These fees might be waived if you have certain premium Wells Fargo accounts. When sending in foreign currency, you'll also lose money on the currency exchange rate markup.

There are also transfer limits on how much you can send through Digital Wires. If you need to send larger amounts, you'll need to visit a branch or request higher limits.

International treasury management¹

For businesses with global operations, Wells Fargo offers an International Treasury Management service. Similar to a multi-currency account, this service helps US-based companies manage money across multiple countries and currencies.

International Treasury Management isn't available to individual customers.

💡 Need to make a business payment? With the Wise Business account, you can send up to 1,000,000 USD per transfer from licensed states.

Discover the difference between
Wise Business vs. Personal

Which US banks offer multi-currency accounts?

Only a few US banks offer multi-currency accounts, and they typically target wealthy clients or businesses with international needs. However, you may be able to open a multi-currency account at HSBC, Citibank, and Everbank.

As you can see, these accounts aren't easy to get. Most require significant minimum balances or regular deposits.

If you don't qualify for these accounts or prefer a more accessible option, you can open a multi-currency account with Wise.

Everywhere money. Meet Wise: the world's most international account

If you’re not living in the US — or if you simply want a more flexible account you can open from anywhere — check out Wise.

Wise isn’t a bank but a money service business (MSB) that offers an account that allows you to hold, send, and receive money. As well as getting an attached multi-currency card, you’ll get some extra perks that suit anyone living an international lifestyle.

You’ll be able to hold 40+ currencies and get local account details for 8+ currencies, including USD, to get paid easily by wire or ACH.

Wise offers linked multi-currency cards for spending and withdrawals around the world, and all currency conversion uses the mid-market exchange rate.

That means that whenever you send a payment or spend in a foreign currency, your dollars are converted with the mid-market rate with low conversion fees from 0.41%. Easy.

This way to easy
international payments

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Wells Fargo doesn't have multi-currency accounts for personal customers, but they do offer a few international banking services, including wire transfers and currency exchange.

However, these options often come with high fees and currency exchange rate markups. They don't have the benefits of a multi-currency account.

A few other banks, including HSBC, Citibank, and Everbank, offer multi-currency accounts, but they're not accessible to everyone and often require high minimum balances. Plus, they can still charge currency exchange markups.

If you're looking for a more accessible multi-currency account, try Wise. Manage your money on the go globally and keep all your currencies in one place with no exchange rate markups.

Sources

1. Wells Fargo - International Treasury Management
2. Wells Fargo - Foreign Currency Cash Questions
3. Wells Fargo - Wells Fargo Digital Wires
4. HSBC Expat - Expat Bank Account
5. HSBC Expat - HSBC Expat Tariff of Charges
6. Citibank - Citibank Global Wallet
7. EverBank - Foreign Currency Overview
8. EverBank - Worldcurrency Access**® **Deposit Account