Brandon Lee
Wells Fargo & Company provides financial services in Asia, Canada, Latin America, and Europe. In Europe, banking services are provided through Wells Fargo Bank International (WFBI), which is directly regulated by the Central Bank of Ireland. WFBI specializes in corporate and institutional banking and has received a rating from Fitch, a major credit rating agency. WFBI's headquarters are in Dublin, Ireland, and it does not have any physical branch locations outside of the US.
| Characteristics | Values |
|---|---|
| Wells Fargo banks in Ireland | Wells Fargo Bank International Unlimited Company |
| Wells Fargo Bank, N.A. London Branch | |
| Location | 2 Harbourmaster Place, I.F.S.C, Dublin, Dublin 1, Ireland |
| Deposit Guarantee | Deposits up to 100,000 EUR are covered by the Irish Deposit Guarantee Scheme |
| Deposit Guarantee Scheme Contact | Deposit Guarantee Scheme, Central Bank of Ireland, PO Box11517, Spencer Dock, North Wall Quay, Dublin 1, Tel: 1890-777777, Email: [email protected] |
| Deposit Repayment Timeline | Within 20 working days until 31 December 2018; within 15 working days from 1 January 2019 until 31 December 2020; within 10 working days from 1 January 2021 to 31 December 2023; and within seven days from 1 January 2024 onwards |
| Fitch Credit Rating | A+ (high credit quality) |
| SWIFT Code | PNBPIE2DXXX |
| MFI ID | IEC44686 |
| LEI | SX0CI4F7GVW5530ZMN03 |
| Services | Corporate and institutional banking |
| ATM/Branch availability outside the US | None |
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What You'll Learn
Wells Fargo Bank International Unlimited Company
Wells Fargo & Company provides financial services outside of the U.S. in Asia, Canada, and Latin America through its subsidiaries. In Europe, banking services are provided through Wells Fargo Bank International (WFBI), which is directly regulated by the Central Bank of Ireland. WFBI's address is 2 Harbourmaster Place, I.F.S.C, Dublin, Dublin 1, Ireland. The company was incorporated in Ireland and is governed by Irish law. It is a public unlimited company and its objects are listed as banking.
WFBI is subject to the Deposit Guarantee Scheme, which is administered by the Central Bank of Ireland. The scheme covers all retail depositors and businesses with deposits of up to EUR 100,000. The scheme will repay eligible deposits within a certain number of days, depending on the date of the claim. For example, claims made between January 1, 2021, and December 31, 2023, will be repaid within 10 working days.
Wells Fargo does not have any physical offices in Ireland that provide services to consumer or small business customers. However, it does have a virtual presence in the country. Customers who need assistance with their accounts while traveling internationally can refer to the international access codes for phone numbers or visit the travel resource center.
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Deposit Guarantee Scheme
Wells Fargo does not have offices outside of the U.S. that provide services to consumer or small business customers. However, Wells Fargo Bank International (WFBI), which is directly regulated by the Central Bank of Ireland, provides banking services in Europe. WFBI's address is 2 Harbourmaster Place, I.F.S.C, Dublin, Dublin 1, Ireland.
The Deposit Guarantee Scheme (DGS) is a program established under Irish and European legislation to protect depositors in the event of a bank, building society, credit union, or credit institution authorized in Ireland being unable to repay deposits. The DGS is administered and funded by the Central Bank of Ireland and the credit institutions covered by the scheme. The scheme covers deposits in branches of credit institutions authorized in Ireland by the Central Bank and protects eligible deposits up to a limit of €100,000 per person. The maximum compensation payable is €100,000 per person per institution and is based on the credit balances on accounts in the defaulting credit institution at the close of business on the date of default, including any interest due up to that date. All credit balances held in the depositor's name, including joint accounts and trustee accounts, are aggregated for the purpose of calculating the maximum compensation. The Central Bank of Ireland is expected to pay compensation to depositors within seven working days of its determination or a court order that deposits are unavailable.
The DGS covers all retail depositors and businesses, with certain exceptions stated on the website of the responsible Deposit Guarantee Scheme. If a depositor requests it, their credit institution must inform them whether certain products are covered or not. If deposits are eligible, the credit institution must also confirm this on the statement of account. In the event of the compensation process being initiated, the Central Bank of Ireland will publish details of the claims procedure and the information that must be supplied by each depositor to support their claim.
The Irish DGS covers deposits in banks and credit unions in Ireland authorized by the Central Bank of Ireland. The scheme has been invoked at least once, on July 2, 2020, when the DGS issued compensation payments by cheque to approximately 4,600 members of the Drumcondra and District Credit Union. The total amount of compensation paid was approximately €12.9 million, representing over 95% of eligible deposits covered by the Scheme.
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Fitch credit rating
Wells Fargo does not have offices outside of the U.S. that provide services to consumer or small business customers. However, in Europe, banking services are provided through Wells Fargo Bank International (WFBI), directly regulated by the Central Bank of Ireland. WFBI's overseas company address is 2 Harbourmaster Place, I.F.S.C, Dublin, Dublin 1, Ireland.
Fitch Ratings is a credit rating agency that evaluates the integrity of debt instruments like bonds based on the financial stability of the issuing company or government body. It is one of the three major credit rating agencies, alongside Moody's and Standard & Poor's. Fitch Ratings is dual-headquartered in New York and London and was founded by John Knowles Fitch on December 24, 1914, as the Fitch Publishing Company.
Fitch uses a letter system for its credit ratings, with the highest rating, AAA, indicating reliable cash flows, and a D rating indicating that a company is in default. AA-rated debt instruments are considered to be of high quality with a low default risk. A rating denotes a low default risk, but the entity is slightly more vulnerable to business or economic factors. BBB indicates a low expectation of default, but that the business could be adversely affected by economic factors.
Fitch also provides sovereign credit ratings, which describe a country's ability to meet its debt obligations. These ratings help investors understand the risks associated with investing in a particular country.
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WFBI Depositor Information
Wells Fargo & Company provides financial services outside of the U.S. through various subsidiaries and affiliates. In Europe, banking services are provided through Wells Fargo Bank International (WFBI), which is directly regulated by the Central Bank of Ireland. WFBI is based in Dublin, Ireland, at 2 Harbourmaster Place, I.F.S.C, Dublin, Dublin 1.
WFBI is a member of the Deposit Guarantee Scheme, which is administered by the Central Bank of Ireland. This scheme covers all retail depositors and businesses, with certain exceptions. The scheme provides protection for eligible deposits of up to EUR 100,000 per depositor. In the event of insolvency, eligible deposits would be repaid up to this limit. The scheme aims to make the repayment within seven working days, although there may be specific exceptions. If the repayment cannot be made within this timeframe, depositors can access an appropriate amount of their covered deposits to cover the cost of living within five working days of requesting it. This access is based on data provided by the credit institution.
The Deposit Guarantee Scheme can be contacted at PO Box 11517, Spencer Dock, North Wall Quay, Dublin 1, by phone at 1890-777777, or by email at [email protected]. Their website, www.depositguarantee.ie, provides additional information on the scheme and any exceptions. It is important to note that deposits held in non-U.S. branches, such as WFBI, are not FDIC insured.
Wells Fargo is also a participant in the U.K.'s Financial Services Compensation Scheme (FSCS), which covers certain claimants, typically small companies and individuals, for protected deposits up to a maximum of £85,000. More information about the FSCS can be found at www.fscs.org.uk.
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Wells Fargo branches outside the US
Wells Fargo & Company is an American multinational financial services company with a global presence. It operates in 35 countries and serves over 70 million customers worldwide. Wells Fargo provides financial services in Asia, Canada, Latin America, Europe, the Middle East, Africa, India, and the Philippines through its subsidiaries.
In Europe, Wells Fargo provides banking services through Wells Fargo Bank International (WFBI), regulated by the Central Bank of Ireland, and Wells Fargo Bank, N.A., with a branch in London, UK, authorized and regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). WFBI has an office in Dublin, Ireland, located at 2 Harbourmaster Place, I.F.S.C, Dublin 1.
Wells Fargo has international offices in several other locations, including Beijing, Shanghai, and Hong Kong in China; Toronto, Canada; Dubai, UAE; Singapore; Tokyo, Japan; London, UK; Paris, France; Milan, Italy; and Sydney, Australia. These offices cater to business, corporate, and financial institution customers, focusing on large corporations, governments, and financial institutions.
While Wells Fargo does not have physical offices outside the US that serve consumers or small businesses, it maintains a virtual presence in certain locations, including Amsterdam, the Netherlands; Christchurch, New Zealand; Colombia; Dublin, Ireland; Dusseldorf and Frankfurt, Germany; Hanoi, Vietnam; Melbourne, Australia; Montreal and Vancouver, Canada; Mumbai, India; Santiago, Chile; Sao Paulo, Brazil; Stockholm, Sweden; and Taipei, Taiwan.
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Frequently asked questions
Yes, Wells Fargo has a presence in Ireland through Wells Fargo Bank International Unlimited Company, which is headquartered in Dublin. The company provides corporate and institutional banking services and is regulated by the Central Bank of Ireland.
The address of Wells Fargo Bank International Unlimited Company in Ireland is 2 Harbourmaster Place, I.F.S.C, Dublin, Dublin 1, Ireland.
Wells Fargo does not have any physical bank branches outside of the United States. However, it provides banking services in Ireland through its subsidiary, Wells Fargo Bank International, which is regulated by the Central Bank of Ireland.
