Footnote1 Wires sent using the Chase Mobile app or chase.com to a bank outside the U.S. in foreign currency (FX) have no Chase wire fee for amounts equal to $5,000 USD or more, and only a $5 Chase wire fee when less than $5,000 USD. Chase wire fees and availability vary by product.
Footnote2 The foreign exchange rates we use are determined by us in our sole discretion. We may make a commission providing foreign currency exchange services to you. You should expect that these foreign exchange rates will be less favorable than rates quoted online or in publications. The exchange rate we use will include a spread and may include commissions or other costs that we, our affiliates, or our vendors may charge in providing foreign currency exchange to you. The exchange rate may vary among customers depending on your relationship, products with us, or the type of transaction being conducted, the dollar amount, type of currency, and the date and time of the exchange, and whether the transaction is a debit or credit to your account. If we complete a foreign currency exchange on your behalf, such as exchanging a foreign currency incoming wire transfer into U.S. dollars , we may apply a rate we have established without prior notice to you.
Additional terms specific to outgoing wire transfers or consumer international wire transfers are contained in your wire transfer agreements.
Footnote3 Online wires sent to a bank outside the U.S. in foreign currency have no Chase wire fee for amounts $5,000 USD or more. Only a $5 Chase wire fee when less than $5,000 USD.
Footnote4 Chase Mobile® app is available for select mobile devices. Message and data rates may apply.
As a seasoned financial expert with extensive knowledge in banking, particularly in the realm of international wire transfers, I bring forth a wealth of experience and expertise to dissect and elucidate the intricacies of the information provided in the article.
Let's delve into the key concepts highlighted in the article:
Footnote 1:
Chase Mobile App and chase.com for International Wires:
The information states that wires sent using the Chase Mobile app or chase.com to a bank outside the U.S. in foreign currency (FX) incur no Chase wire fee for amounts equal to $5,000 USD or more. If the amount is less than $5,000 USD, there is a nominal $5 Chase wire fee. The fees and availability of Chase wire services vary by product.
Footnote 2:
Foreign Exchange Rates and Commissions:
Chase emphasizes that the foreign exchange rates used are determined solely by them. They may earn a commission when providing foreign currency exchange services. Notably, customers should anticipate less favorable rates compared to those quoted online or in publications. The exchange rate includes a spread and may encompass commissions or additional costs charged by Chase, their affiliates, or vendors. The rate can differ based on the customer's relationship, products, type of transaction, dollar amount, currency type, date and time of the exchange, and whether it's a debit or credit transaction. For certain transactions, such as converting a foreign currency incoming wire transfer into U.S. dollars, Chase may apply a rate without prior notice.
Footnote 3:
Online Wires to Foreign Banks:
Online wires sent through chase.com to a foreign bank in foreign currency enjoy the benefit of no Chase wire fee for amounts exceeding $5,000 USD. However, for amounts less than $5,000 USD, a $5 Chase wire fee is applicable.
Footnote 4:
Chase Mobile® App:
The Chase Mobile app, available on select mobile devices, facilitates the execution of various banking activities, including international wire transfers. Users should be aware that message and data rates may apply when utilizing the app.
In essence, the information outlines Chase's fee structure for international wire transfers, shedding light on the exemptions and charges based on transaction amounts and channels used. The complexities of foreign exchange rates and associated costs are elucidated, emphasizing the need for customers to be mindful of potential variations depending on various factors. The mention of the Chase Mobile app underscores the convenience offered to users, albeit with a caution about potential messaging and data costs.
