Can you exchange foreign currency at a bank

You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Americans are getting ready to travel again as part of the pent-up consumer demand from the pandemic.

If your next vacation is going to take you to another country, you may want to know how to get foreign currency without paying extra fees. Currency exchange rates are complicated and are constantly fluctuating as part of the everyday rush of global commerce. One bank, merchant or currency exchange location could give you a slightly better deal on currency exchange rates, just based on the daily ups and downs of the markets. Of course, it can be easy to overspend in a foreign country.

At least in part, this is because spending money in foreign currency may feel different. The prices at stores and restaurant menus may not feel as real as they do in U. It can also be exciting to see and use the colorful foreign banknotes and interesting coins that you may not experience in your everyday life.

Here are a few tips and insights on how to enjoy your international travels while minimizing currency fees. One of the best ways to minimize currency exchange fees is to get some cash from your bank or credit union in the U.

For example, Wells Fargo offers 70 currencies for use in more than countries, and Bank of America exchanges currencies for more than countries. You may be able to get currency in cash at your local bank branch, or order currency online or by phone to be delivered to your home. Other less frequently requested currencies could require a few days of advance notice or longer.

Depending on where you do your banking and your overall relationship with them, you may qualify for special rewards or perks on foreign currency exchange. These places offer convenience, but their exchange rates are typically much less favorable than your bank at home. Airport kiosks may also charge higher fees, which sometimes are hidden within the poorer exchange rates they offer for converting your dollars to euros, pounds, pesos or another currency.

If you are traveling on short notice and need some foreign currency in cash at the airport, then it could be worth paying the extra costs for the sake of convenience. If you can plan ahead, try to avoid airport kiosks and other exchange counters in heavily touristed areas—their business is based on charging extra for being a convenient, last-minute option.

It's good to know the best place to exchange currency so you don't end up in the worst place. Foreign exchange rates are always fluctuating because the global economy is active 24 hours per day. As economies strengthen and weaken, currencies experience inflation and deflation, and trade deficits grow and shrink, the relative value between currencies moves up and down.

Financial institutions, investors, and speculators are constantly buying and selling large lots of currencies, which creates the current market exchange rate between two currencies. In general, currency exchange rates are quoted against the U.

When you travel abroad and want to buy something in the local currency, you typically exchange a relatively small amount of currency and pay a higher exchange rate so the currency exchange can earn a small profit. Not all currency exchanges charge the same rate, and some businesses take advantage of needy travelers in areas flush with tourists to turn a profit.

The first place nearly all travelers arrive in a new country is the airport terminal, and that is the first place where you will have an opportunity to exchange currency. The airport currency exchange rate isn't always the best. Because airport-based currency exchange shops know that you might need local currency to catch a bus, train, or taxi, so they make big profits offering you the worst exchange rate. Avoid these currency exchanges if possible by getting currency in advance from a local bank or going to an in-airport bank or ATM.

Once you get out of the airport, you may find yourself in a market, bazaar or popular tourist area. Exchange shops try to operate where you will need them and take advantage of tourists to make a profit. You will probably find better rates than the airport at a dedicated currency exchange. The best place to exchange money is a local ATM or a bank.

Learn more about Wells Fargo Online Wires. To initiate a wire by phone, you first need to complete a wire transfer agreement at a branch near you. Meet with a banker at a branch near you to initiate foreign currency wires. To obtain intermediary bank instructions for incoming wire transfers in foreign currency, contact the International Connections team at or view our FX Incoming Wire Intermediary Bank Instructions.

To order a foreign draft, find a branch near you or call Your local Wells Fargo branch can accept checks issued in a limited number of foreign countries and currencies. Call or visit a branch to learn more. Applicable outgoing or incoming wire transfer service fees apply, unless waived by the terms of your account. To send a wire, sign on at wellsfargo. In addition to any applicable fees, Wells Fargo makes money when we convert one currency to another currency for you. The exchange rate used when Wells Fargo converts one currency to another is set at our sole discretion, and it includes a markup.

The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The applicable exchange rate does not include, and is separate from, any applicable fees. The exchange rate Wells Fargo provides to you may be different from exchange rates you see elsewhere. Different customers may receive different rates for transactions that are the same or similar, and the applicable exchange rate may be different for foreign currency cash, drafts, checks, or wire transfers.

Online Order your foreign currency for pickup at a TD Bank near you. Order now. In person Book an appointment to order and exchange currency at a TD Bank near you.

Find a TD Bank. Foreign currency wire transfers. Send or receive international wire transfers more securely with TD. When you send an international wire and the recipient account currency is not denominated in US dollars, the funds can be converted by TD using the disclosed exchange rate.

This means you can:. Save money: Avoid hidden fees often charged by intermediary banks Lock in rates: Get competitive rates of exchange. Send money faster: We bypass potential transfers to multiple banks, so your funds may arrive sooner Rely on transparency: You'll know the exchange rate and foreign currency total before sending so the recipient knows what funds to expect.

Book an appointment to send or receive a personal wire transfer from any TD Bank location. Send wires to over 50 countries. See all currency options for wires. Book an appointment at your local TD Bank to send a wire. Book an appointment. International Checks and Drafts.