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February 26, 2008

Wells Fargo has extended its B2B and Foreign Exchange Online services to small businesses, allowing them to send and receive foreign currency wires in more than 90 currencies over various B2B networks.

Wells Fargo's new service is offered through the company’s small and midsize business banking website.

Additionally, the Wells Fargo B2B and Online Banking website offers customers access to ordering foreign currency online, as well as insights from a new international money tips database.

It also offers access to a foreign trade glossary and country index. All financial transactions can be made in real time from any Internet-enabled browser.

Gregg Napoli, head of Foreign Exchange Services for Wells Fargo said "as foreign trade continues to grow rapidly, small businesses are increasingly doing business with overseas partners, including both suppliers and customers."

Napoli added "these businesses need a banking partner that can make it easier for them to manage foreign currency transactions, B2B sales, ensure rapid receipt of payments and provide accurate, secure and integrated record keeping."

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Source: Wells Fargo.