Wells Fargo Extends Online Foreign Exchange Service

The service enables small-business owners to send and receive foreign currency wires.

Wells Fargo (NYSE:WFC) has extended its Foreign Exchange Online service to small businesses, allowing them to send and receive foreign currency wires in more than 90 currencies over the Internet. The service is offered through the company’s small and midsize business banking Web site.

The Wells Fargo Business Online Banking Web site also offers customers access to ordering foreign currency online, as well as insights from a new international money tips database, and access to a foreign trade glossary. All transactions can be made in real time from any Web-enabled browser.

"As foreign trade continues to grow, small businesses are increasingly doing business with overseas partners, including both suppliers and customers," Gregg Napoli, head of Foreign Exchange Services for Wells Fargo, said in a statement. "These businesses need a banking partner that can make it easier for them to manage foreign currency transactions, ensure rapid receipt of payments and provide accurate, secure and integrated recordkeeping."