Foreign currency orders placed using a small business account must be picked up at a financial center of your choice. The foreign currency package will only be released to an authorized signer listed for the small business account. Identification will be required. Foreign Currency orders will be held at the financial center for 5 business days before being returned to Global Foreign Exchange. (Please note that the exchange rate applied to the returned foreign currency may be different from the original transaction.)
For foreign currency orders placed using a personal account, Bank of America offers 2 delivery options:
1. You may have your foreign currency order(s) up to $1,000 delivered to your address of record (on the account you're using to pay for the currency) over a 30-day period, whether the currency is purchased in one or several transactions. No post office boxes or personal mailboxes are allowed. If the courier is unable to deliver your foreign currency package it will be returned to Bank of America. (Please note that the exchange rate applied to the returned foreign currency may be different from the original transaction.)
2. You may have your order sent to the full service Bank of America financial center of your choice. The foreign currency package will only be released to the account owner or an authorized signer on the account used to pay for the order. Identification will be required. Foreign Currency orders will be held at the financial center for 5 business days before being returned to Global Foreign Exchange. (Please note that the exchange rate applied to the returned foreign currency may be different from the original transaction.)
By limiting delivery destinations in this way, we limit the potential of your order being intercepted by an unauthorized individual.
If your address has changed in the past 30 days or you have been a Bank of America customer for fewer than 30 days, your order must be picked up at a financial center.
FAQs
Plan ahead
If you are exchanging large amounts of money either before you go or at your destination, you may need to order it in advance. That booth on the high street may not have thousands of dollars of a certain currency on hand each day waiting for a big exchange to come in.
How many days before departure can you buy foreign currency? ›
Foreign currency for travel purposes may not be bought more than 60 days prior to the departure of the traveller. Any unutilised portion of a travel allowance must be resold to an authorised dealer within 30 days of your return.
Is there a best day to order foreign currency? ›
Best day of the week to exchange currency
According to data from WeSwap and The Telegraph, you'll generally enjoy the best currency exchange rates on Fridays and Saturdays. Currency can fluctuate throughout the day too, with the morning or late afternoon cited as the best times to buy.
Do I need to bring proof of identity to buy foreign currency? ›
Identification will be required. Foreign Currency orders will be held at the financial center for 5 business days before being returned to Global Foreign Exchange. (Please note that the exchange rate applied to the returned foreign currency may be different from the original transaction.)
What happens if you order something in a different currency? ›
A foreign transaction (FX) fee is a surcharge on your credit card bill that appears when you make a purchase that either passes through a foreign bank or is in a currency other than the U.S. dollar (USD). This fee is charged by many credit card issuers, typically ranging from 1% to 3% of the transaction.
Should I order foreign currency from my bank? ›
The best place to exchange foreign currency in the U.S. is at your local bank or credit union before you leave for your trip.
Is it better to get foreign currency at the bank or airport? ›
Currency exchange shops and kiosks in airports are not the best places to exchange money. For the best rates, try a local bank or a bank ATM to make your currency exchanges. Check to see if your U.S. bank offers foreign ATM fee refunds for using a foreign ATM.
Is it better to exchange currency at departure or arrival? ›
Exchange with your bank before you go
Instead, call ahead and order foreign currency from your bank, which is usually available to pick up within a couple of days. They'll even deliver it to you, and though you might still pay a fee, the exchange rate will be much better than at the airport.
Is buying foreign currency a cash advance? ›
Using your credit card to pay a bill or buy foreign currency, for example, is also viewed as a cash advance by many credit card providers. Be aware, cash advances come with costly charges, including an immediate transaction fee and interest charges that kick in the moment you get the money.
Should I place order in USD or local currency? ›
Always pay in the local currency
On top of that, you will be charged additional foreign transaction fees imposed by your bank since the transaction is conducted with an overseas merchant. It's often more costly to pay in your home currency than in a foreign currency.
Head to your bank or credit union before you leave to avoid paying ATM transaction costs. You may even receive a better exchange rate. Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them.
How long does it take to order foreign currency at US bank? ›
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. You can select to have your order expedited for a $15 fee.
Can I get foreign currency at the post office? ›
Buying currency in branch
Many of our branches keep euros and US Dollars in stock. Availability varies so it's always best to order online or in branch and collect later. You can also buy smaller amounts in branch than the minimum order of £400 worth required online.
Can I buy foreign currency with a debit card? ›
Some card providers also treat loading a prepaid card using a credit card as a cash withdrawal. So if you're buying currency or loading a prepaid card, ALWAYS use a debit card, which isn't allowed to charge this fee, or withdraw cash and pay with that instead.
How many euros should I take to Italy? ›
If you are the kind of person who gets uncomfortable about not having some local currency in your wallet before you arrive, then order around €100-200 (in tens and twenties) from your home bank or exchange bureau in your home country and bring it with you so you can use it to pay for a cab or accommodation in an ...
Can you trade currency after hours? ›
The forex market is available for trading 24 hours a day except on weekends. The forex market is decentralized and driven by local sessions, and four in particular—Sydney, Tokyo, London, and New York.
Where is the best place to exchange currency before travel? ›
Head to your bank or credit union before you leave to avoid paying ATM transaction costs. You may even receive a better exchange rate. Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them.
