International Payments
WSFS Bank provides market expertise and payment solutions that help organizations and individuals manage international transactions. WSFS’s dedicated Foreign Exchange team can help you manage the complexities of cross-border transactions and foreign exchange.
Our Services
Frequently Asked Questions
Matching the Payment Method With Your Requirements
-
Description
-
Recommendation
International USD Wires
Wire transfers of USD originating from accounts within the United States to bank accounts outside the United States.
Only send USD internationally if the receiving party specifically requested USD and holds a USD account.
International Foreign Currency Wires
Foreign currency (FX) wire transfers sent to bank accounts located outside the United States.
Preferred option for sending funds internationally.
Sending USD Checks
Writing a USD check against an account domiciled in the United States
Not recommended for small amounts as the amount of the check will likely be offset by the fees charged by the recipient bank.
Foreign Currency Drafts
Foreign currency denominated bank checks drawn on a bank local to the recipient.
Preferred option for small amounts.
International Check Clearing and Collection
Checks drawn on an international bank can be deposited into your account to be cleared or placed on collection.
The practicality of receiving checks drawn on banks outside of the United States varies by currency and country. Please check with our International Services experts for more information.
A WSFS Capital Markets expert will help you find the right solution.
Related Articles
Why Companies Should Consider Hedging
In today’s global economy, currency risk is an important concern for companies conducting business internationally and individuals planning to send or receive money from abroad.
Read More
How the U.S. Dollar and Economy Could Affect Foreign Exchange Markets in 2023. Is Your Business Ready?
2022 was undoubtedly the year of the dollar. Although the U.S. currency has recently retreated from its October peak, the USD index still gained 8% in 2022. The main question in the foreign exchange (FX) markets today is whether this latest dollar down move is simply a technical correction due to the market’s reassessment of the future speed of U.S. interest rate hikes, or a true inversion of the trend (i.e., is the USD rally over?).
Read More
Barsky Fleming Uses Foreign Exchange Strategies to Fight Inflation and Market Volatility
Jeffrey Barsky, President at Barsky Fleming Marketing Inc. (BFM), has been importing furniture since the mid-90s. The company grew over time to import restaurant furniture from various countries including China, Vietnam, Turkey, Italy, Bulgaria, Germany, and more. In dealing with so many countries and currencies, Barsky knew there were efficiencies available that could help the business grow and capitalize on market conditions.
Read More