Exchange and Order Foreign Currency from Bank of America (2024)

FAQs

Does Bank of America charge to order foreign currency? ›

There is, however, a delivery fee of USD$7.50 on all foreign currency orders less than USD$1,000; this fee is waived on orders of USD$1,000 or more. Payment for online foreign currency orders can only be made using a Bank of America checking or savings account.

We offer a wide variety of foreign currencies.

Though there may be a small fee if you exchange less than a certain amount, your bank or credit union will almost always be the best place to exchange currency (and the cheapest). You may be able to order currency at a branch location or by phone or online to have it delivered to you, or to pick up at a branch.

Orders placed before 2 p.m. (delivery address local time) are shipped the same day. Orders placed after 2 p.m. or on Saturdays, Sundays and holidays are shipped the next business day. With standard shipping, orders generally arrive within 1-3 business days.

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

Resist the urge to buy foreign currency before your trip.

Some tourists feel like they just have to have euros or British pounds in their pockets when they step off the airplane, but they pay the price in bad stateside exchange rates. Wait until you arrive to withdraw money.

Where to Get Good Rates: ATMs and Local Banks. The best place to exchange money is a local ATM or a bank. Many foreign banks are happy to exchange your dollars for local currency for a better rate than you find elsewhere, or you can go to an ATM to skip the line.

Credit cards typically provide better exchange rates than what you'll get from ATM machines and currency stands.

Foreign currency orders placed by 2 p.m. local time will be available at the branch you selected the next business day by 4 p.m. unless otherwise noted. Orders placed after the 2 p.m. cutoff time will be available in two business days.

Your bank will convert your foreign currency into U.S. dollars before depositing it into your account. This is preferable as holding foreign currencies can complicate your accounting, according to Bench.

What is the cheapest way to buy euros? ›

Foreign Currency Exchange

Money changers can be the cheapest way to buy euros. The problem is, it can be a hard to find them outside of the city and they regularly run out of less common currencies. Often the exchange rates are on a board facing the front of the shop, so finding the USD to EUR rate is easy.

Currency exchange services

One of the largest and most popular places to buy travel money in the US is Currency Exchange International (CXI). You can order over 90 currencies online, including Euros.

Any Bank of America customer can exchange foreign currency at any financial center.

Buying currency in branch

Many of our branches keep euros and US Dollars in stock.

Bank of America will assess an international transaction fee of 3% of the U.S. dollar amount for all ATM withdrawals processed in foreign currency. International ATM operators may offer to do your currency conversion for you, but they may charge a higher fee for conversion.