Chase does exchange foreign currency, but only at certain branches and with restrictions that make it expensive for most people

Chase will exchange foreign currency into US dollars at most full-service branches, but the process is slow, the exchange rate is poor, and you need to order the currency in advance. You cannot walk in and exchange cash on the spot at most locations. If you need currency for travel, a credit card or ATM withdrawal abroad usually costs less and moves faster than ordering through Chase.

Chase also sells foreign currency to customers who want to take cash overseas, but again you must order ahead and pay a markup on the exchange rate. The bank does not keep large amounts of foreign cash on hand, so availability depends on the currency and your branch's size.

Key Takeaways

  • Chase exchanges foreign currency only at full-service branches, not at ATMs or smaller locations, and you must order the currency at least one business day in advance.
  • Chase's exchange rates include a markup that is typically 2 to 3 percent higher than the mid-market rate, making the service more expensive than using a debit card or ATM abroad.
  • You can exchange foreign currency back into dollars at Chase, but the same markup applies and the process takes several business days.
  • For travel, using your Chase debit card at an ATM in the destination country usually gives you a better rate than ordering currency beforehand.

How to order foreign currency from Chase

Call your local Chase branch or visit in person to request foreign currency. You need to place the order at least one business day before you want to pick it up, and some branches ask for more notice depending on the currency. The branch will tell you the exchange rate and any fees when you call, so you know the total cost before you commit.

You must have a Chase checking or savings account to order currency. Bring your ID and debit card or checkbook when you pick up the cash. The branch will give you the currency in the denominations you request, though availability of specific bills (like 50-euro notes versus 100-euro notes) varies by location and what the bank has in stock.

Not all currencies are available at every branch. Common travel currencies like euros, British pounds, Canadian dollars, Mexican pesos, and Japanese yen are usually in stock or can be ordered. Less common currencies may take longer to arrive or may not be available at smaller branches. Call ahead to confirm the currency you need is available before you make a trip to the branch.

What Chase charges for foreign currency exchange

Chase does not publish a single exchange rate for all customers. The rate you receive depends on the currency, the amount, and the branch. The bank buys currency from wholesale suppliers and marks it up before selling it to you. That markup typically ranges from 2 to 3 percent above the mid-market rate (the rate you see on financial news sites), though it can be higher for less common currencies or small amounts.

There is no separate fee listed on your receipt, but the unfavorable exchange rate is how Chase makes money on the transaction. If you exchange $1,000 at a 2.5 percent markup, you are paying $25 in hidden cost. For comparison, using a Chase debit card at an ATM abroad usually costs 1 to 2 percent in fees and a better exchange rate, making it cheaper overall.

Exchanging foreign currency back to US dollars

If you return from travel with leftover foreign cash, Chase will exchange it back into dollars at most full-service branches. The same markup applies, so you lose money on both the outbound and return exchange. You need to bring the physical bills to the branch; Chase does not exchange currency over the phone or by mail.

The branch may refuse to exchange currency that is damaged, torn, or in poor condition. Very old bills or currency from countries that no longer exist may also be rejected. Ask the teller whether your specific bills are acceptable before you make a special trip.

Cheaper alternatives to Chase's foreign currency service

Using a Chase debit card at an ATM in your destination country usually costs less than ordering currency beforehand. Chase charges a $3 out-of-network ATM fee for most withdrawals outside the US, but you get a better exchange rate than you would buying currency at a branch. If you withdraw $500 at an ATM, the $3 fee plus the exchange rate markup is typically lower than the markup Chase charges when you buy currency in advance.

A Chase credit card with no foreign transaction fees (like the Chase Sapphire Preferred or Chase Freedom Unlimited) avoids the exchange markup entirely when you pay for purchases abroad. You pay the card issuer's exchange rate, which is usually closer to the mid-market rate than what Chase charges for cash exchange.

Specialized currency exchange services like OFX, Wise (formerly TransferWise), or local currency exchange shops sometimes offer better rates than Chase, especially for larger amounts. These services are most useful if you are exchanging more than $1,000 or need a currency that Chase does not stock. Compare rates before you commit, because rates change daily and the best option depends on the amount and currency.

What to do if your branch does not have the currency you need

If your local Chase branch cannot order the currency you need, ask whether another branch in your area can. Larger branches in city centers typically stock more currencies and can order less common ones faster than smaller suburban branches.

If no Chase branch can help, you have time to use an alternative. OFX and Wise let you order currency online and pick it up at a local location or have it mailed to you. These services often have better rates than Chase for amounts over $500 and for currencies outside the major ones. Plan ahead if you need an uncommon currency, because ordering takes several days even with these services.

Frequently Asked Questions

Can I exchange foreign currency at a Chase ATM?

No. Chase ATMs only dispense US dollars. To exchange currency, you must visit a full-service branch in person. If you are traveling and need local currency, use your Chase debit card at an ATM in your destination country to withdraw cash in that country's currency.

How long does it take to get foreign currency from Chase?

At least one business day. Most branches ask you to order by phone or in person and pick up the next business day or later. Some branches or currencies may require longer notice. Call your branch to confirm how much time you need to allow.

Does Chase exchange currency for non-customers?

No. You must have a Chase checking or savings account to order foreign currency. If you do not bank at Chase, visit a local currency exchange shop or use an online service like Wise or OFX.

What if I need currency on a weekend or holiday?

Chase branches are closed on weekends and holidays, so you cannot order or pick up currency then. Plan ahead and order during the business week. If you are leaving on a weekend, order by Thursday at the latest.

Is the exchange rate locked in when I place my order?

No. The rate you receive is the rate on the day you pick up the currency, not the day you place the order. Exchange rates change daily, so the cost may be higher or lower than what the teller quoted when you called. Confirm the final rate and total cost before you complete the transaction.