Just the other day I was reading that businesses in New York are starting to take the EURO in exchange for goods and services. I wondered how they’d handle those transactions…
So today, Wells Fargo announces a service to help some small businesses with that.
Wells Fargo offers online foreign exchange service to small business
The service allows businesses to send and receive foreign currency wires in more than 90 currencies over the Internet at any time of day.
In addition to the bank’s online foreign exchange service, Wells Fargo’s web site also lets small businesses order foreign currency online, and it offers an international database of money tips for more than 60 countries and a foreign trade glossary.
As far as cash transactions go, it’s probably small local businesses in tourist or border areas that will handle the most actual cash as far as foreign currency. That will mean keeping the exchange rate handy so you know you’re not getting ripped off or over charging. $1 does not equal 1 eurodollar.
No comments yet.