ExpressSend by Wells Fargo is a money transfer service that is available in 13 countries throughout Asia and Latin America. This isn’t the only money transfer service offered by Wells Fargo.
For transactions within the United States, you can use its Zelle money transfer service. For businesses, Wells Fargo recommends availing of the bank draft and wire transfer services of its banks.
When you use ExpressSend, you can transfer a minimum amount of US$25 through the services’ online and offline channels.
The opportunity to transfer a small amount of money may sound enticing but like other money transfer services, you should find out as much about the platform before making the decision to use it or not.
Yes, Wells Fargo has built a solid reputation in the financial services industry. The name is a highly-respected brand and the bank always keeps the customer’s convenience in mind.
For example, when using Wells Fargo, you can be assured of multiple transfer options and the convenience of transferring the money from your account.
You should still compare prices and fees between ExpressSend and other money transfer services providers in order to make the best decision. Likewise, Wells Fargo may have a sterling reputation for its banking services – but what is the general feedback about its online money transfer service via ExpressSend?
These are questions that we will answer through our unbiased and honest review of ExpressSend by Wells Fargo.
Exchange Rate IQ Review Of ExpressSend by Wells Fargo
ExpressSend by Wells Fargo allows you to transfer money to the recipient’s depository account. You also have the option to arrange for cash pickup.
The service was launched by Wells Fargo in 1995 but is presently available only for those who reside in South America, Central America, Mexico, the Caribbean islands, and Asia.
Wells Fargo Zelle Transfer Limits
As mentioned earlier, the minimum amount you can send is US$25. However, be advised that there are different daily transfer limits set for each participating country. These limits are as follows:
| Country | Max Limit: Cash Pickup (US$) | Max Limit: Account Transfer (US$) |
|---|---|---|
Dominican Republic | 1,500 | N/A |
| Guatemala | 1,500 | N/A |
| Nicaragua | 1,500 | N/A |
| Ecuador | 1,000 | N/A |
| China | N/A | 1,500 |
| Philippines | 1,000 | 3,000 |
| Mexico | 1,000 | 1,500 |
El Salvador | 1,000 | 1,500 |
| Honduras | 1,500 | |
| Colombia | 1,500 | 1,500 |
| Peru | 500 | N/A |
| India | N/A | 5,000 |
| Vietnam | N/A | 5,000 |
With ExpressSend by Wells Fargo, you can transfer money in a number of different ways:
- Bank transfer
- Wire transfer
- Online transfer
- Cash Pickup
Other advantages include having a highly-accessible 24/7 customer support team and tightly secured policies on customer privacy.
Overall, the Exchange Rate IQ group of reviewers have given ExpressSend by Wells Fargo a score of 7.5 out of 10.
Now, let’s breakdown the other areas that you have to consider before deciding on going with ExpressSend by Wells Fargo.
Pricing
Wells Fargo will charge you various fees for using ExpressSend. The type of fees and their costs will depend on where the funds are coming from.
One of these fees is called the Transaction Fee. There are no costs to opening and maintaining an account but there will be a charge every time you use the service. A good example of a Transaction Fee is a charge for using Express Send for transferring money. A transfer of US$1,000 to China will incur a transfer fee of US$8.
Wells Fargo attempts to make up for its high transaction fees by assuring its customers that the bank’s exchange rates are the lowest you find in the industry – even lower than the current market rate.
The bank will give more attractive exchange rates to customers who send out more money.
Also, keep in mind that you might be charged a fee by the participating intermediary bank
Transparency
The Exchange Rate IQ group of reviewers has given ExpressSend by Wells Fargo a score of 7 out of 10 for its pricing because you can get friendlier rates and be charged much lower fees by using the services of other money transfer companies.
The Exchange Rate IQ group of reviewers has given ExpressSend by Wells Fargo a score of 7 out of 10 for its level of transparency.
Transfer Speed
How fast money can be transferred from your account to the recipient’s will depend on the service you choose:
ExpressSend – The recipient will receive his money on the same for many of the locations.
Zelle – Again, this service handles U.S transactions. Recipients will wait an estimated 2 days to receive their money.
Wires – Recipients in the U.S can receive the money on the same day; those in other countries will depend on the regulations existing in their country.
The Exchange Rate IQ group of reviewers noted that some money transfer service platforms can transfer money faster and has given ExpressSend by Wells Fargo a score of 8 out of 10.
Availability – How Many Countries Support ExpressSend by Wells Fargo?
Presently, ExpressSend can be accommodated by the following countries:
- Colombia
- India
- El Salvador
- Vietnam
- Peru
- Honduras
- China
- Dominican Republic
- Ecuador
- Guatemala
- Philippines
- Mexico
- Nicaragua
Some of the countries on the list can accommodate cash pick-up services. These countries and the participating intermediary banks and financial institutions are as follows:
The Philippines
Banco de Oro Unibank, Philippine National Bank, Bank of the Philippine Islands, Metrobank, Lhuillier, Cebuana Lhuillier.
India
ICICI Bank, HDFC Bank, Axis Bank
Vietnam
Vietinbank, Vietcombank
China – Agricultural Bank of China
For the reason that the services are only available in a few countries, the Exchange Rate IQ group of reviewers has given ExpressSend By Wells Fargo a score of 6 out of 10.
The Level Of Experience
Wells Fargo has been operating its ExpressSend service for more than 20 years. Its main customer base is the individual user who sends money to his friends and family members.
Here are some of the pros and cons that have been associated with ExpressSend throughout the years:
Pros:
Availability of cash pick-up services in some countries.
Availability of 24/7 customer support services.
Good level of data security.
Cons:
Comparatively higher costs of transactions.
Services are not available worldwide.
Businesses cannot avail of fast money transfer service.
Wells Fargo encourages its customers to refer the services to their friends and family. Every time you use Express Send, Wells Fargo will include a link that will be received by your recipient. If the link is used, both you and the recipient will be rewarded with referral benefits from Wells Fargo.
Do you want to reduce the transfer fee? Simply use the promo code given to you by Wells Fargo. Share it with the recipient via email or SMS.
On the downside, you cannot send money to multiple recipients unless you open separate accounts with their own Service Agreement. Likewise, the service only allows you to accommodate a maximum of 4 recipients.
In view of these pros and cons, the Exchange Rate IQ group has given ExpressSend a score of 7 out of 10.
Security
The data protection and security protocols Wells Fargo has in place to cover the money transfer transactions in all forms use technology that’s at par with many of the biggest banks of the United States.
For this reason, the Exchange Rate IQ group has awarded ExpressSend by Wells Fargo a high score of 9 out of 10.
FAQs About ExpressSend By Wells Fargo
How Do I Open an ExpressSend Account
Contact the customer service group of Wells Fargo and they can open an account for you. Simply provide your account details as those of your beneficiary.
Is It Possible to Send Money to More Than One Recipient?
Yes, but you have to open a separate account with its own Service Agreement.
Are There Business Transfer Services Available?
Unfortunately, no. The features of the service can only accommodate the needs of individual users