ezfunds — Foreign Wires
Our international wire services are effortless to initiate and easy to use, with a convenient online program that makes transfers and processing a snap. With access to over 100 countries, low fees, and competitive exchange rates, you’ll have all the global resources you need.
International Wire Transfers
International wires can always be sent by phone, but we also have a secure online tool – ezfunds – that can lower your wire costs and save employee time.
Foreign Currency International Wires
These are wires sent to a foreign account, and are converted prior to sending. The sender is able to specify the amount in U.S. Dollars sent, or the amount of foreign currency required.
U.S. Dollar International Wires
In this type of wire, U.S. Dollars are sent to a foreign account without exchange into a different form of currency. This type of wire is ideal for a foreign beneficiary with a U.S. dollar account, or if the local currency isn’t supported in our system.
Which Should I Use?
Unless the foreign beneficiary has a U.S. dollar account, using a foreign currency wire is almost always preferable. When sent in U.S. dollars, the receiving institution will convert U.S. Dollars into the local currency, and exchange rates are often less favorable when conversion is performed by receiving banks.
Our network is able to secure competitive rates, and converting prior to sending allows your members to know the exact amount of foreign currency they’re wiring. Any transaction fees by the receiving institution should be clear to the beneficiary, avoiding miscommunication about the amount sent and the amount received.