TD Bank does exchange foreign currency, but only at certain locations and with fees that vary by branch

TD Bank offers currency exchange at most full-service branches, but not at every location. You can exchange US dollars for foreign currency or bring foreign currency back to US dollars. The bank charges a spread — the difference between what it pays you and what it charges you — rather than a flat fee. That spread is not published in advance and varies by currency and by the day you exchange.

The exchange rate you get at TD Bank is typically worse than the mid-market rate (the real rate banks use among themselves). You will receive less foreign currency per US dollar, or fewer US dollars per foreign currency unit, than you would through a currency specialist or online transfer service. If you are exchanging a large amount, the difference adds up.

Key Takeaways

  • TD Bank exchanges currency at full-service branches, but call ahead to confirm your specific branch offers the service and has the currency you need in stock.
  • The bank charges a spread on the exchange rate rather than a flat fee, meaning you pay more than the mid-market rate without knowing the exact cost until the transaction completes.
  • You will get a better rate through a currency specialist, online transfer service, or your credit card's foreign transaction rate if you are exchanging more than a few hundred dollars.
  • Bring your passport or government ID when you exchange currency; the bank will ask for identification and may report large transactions to federal authorities.

How to exchange currency at a TD Bank branch

Visit a full-service TD Bank branch during business hours with your government-issued ID. Tell the teller you want to exchange currency. If you are exchanging US dollars for foreign currency, the teller will tell you the rate for that day and the amount you will receive. If you are exchanging foreign currency back to US dollars, bring the bills or coins in the original currency.

Not all branches keep all currencies in stock. If you need a less common currency — anything other than Canadian dollars, euros, British pounds, or Mexican pesos — call your branch first to confirm they have it. If they do not, they can sometimes order it, but that takes several business days. Some branches do not offer currency exchange at all, so confirm before you go.

The transaction is immediate. You hand over your money, the teller counts it, applies the day's rate, and gives you the exchanged currency. You will receive a receipt showing the amount you gave, the rate used, and the amount you received.

What the exchange rate actually costs you

TD Bank does not advertise its spread in advance. The spread — the markup between what the bank pays for currency and what it charges you — is built into the rate the teller quotes. If the mid-market rate for US dollars to euros is 0.92, TD Bank might quote you 0.88 or 0.87. That difference is the bank's profit and your cost.

The spread varies by currency. Major currencies like euros and British pounds have smaller spreads (often 2 to 4 percent). Less common currencies have larger spreads. The spread also changes day to day based on market conditions and the bank's inventory.

For small exchanges — under $200 — the convenience of walking into a branch may be worth the cost. For larger amounts, the spread becomes expensive. A $1,000 exchange with a 3 percent spread costs you $30. A $5,000 exchange costs $150. At that level, a currency specialist or online transfer service will save you money.

Alternatives that may cost less

If you are traveling and need foreign currency, compare these options before you go to TD Bank:

  • Credit card with no foreign transaction fee: Many cards charge 0 to 1 percent for foreign purchases. You get the mid-market rate plus the card's markup, which is usually smaller than a bank's spread. This works only if the merchant accepts your card.
  • ATM withdrawal in the destination country: Withdraw cash from an ATM using your debit card. You pay your bank's ATM fee (often $2 to $5) plus a currency conversion fee (usually 1 to 3 percent). For most trips, this is cheaper than exchanging at a US bank.
  • Online currency transfer service: Services like Wise, OFX, or Remitly let you exchange currency online and pick it up at a partner location or have it delivered. Rates are closer to mid-market, and fees are transparent upfront. Delivery takes 1 to 3 business days.
  • Currency specialist: Independent currency exchange shops in major cities often beat bank rates, especially for large amounts. Call ahead to confirm they have the currency and the rate they quote.

Reporting requirements for large exchanges

If you exchange $10,000 or more in a single day, TD Bank is required by federal law to file a Currency Transaction Report with the Financial Crimes Enforcement Network (FinCEN). This is routine and does not mean you have done anything wrong. The bank will ask for your ID and may ask why you need the currency.

If you exchange less than $10,000 but the bank suspects you are breaking up transactions to avoid the reporting threshold, they can file a Suspicious Activity Report. This is rare for straightforward travel or business currency exchanges, but it is possible. Be honest about why you need the currency.

What to bring and what to expect

Bring your passport, driver's license, or state ID. The teller will ask for it and may write down your ID number on the receipt. Bring the currency you want to exchange in good condition — heavily damaged bills may not be accepted. Bring any documentation if you are exchanging currency for a business purpose, though this is not usually required for personal travel.

The transaction takes 5 to 10 minutes if the currency is in stock. If the branch has to order it, you will wait several business days and may need to return to pick it up. Some branches allow you to call ahead and reserve currency, which guarantees they will have it when you arrive.

Frequently Asked Questions

Can I exchange currency at a TD Bank ATM?

No. TD Bank ATMs dispense only US dollars. To exchange currency, you must visit a branch and speak to a teller during business hours.

What if I have foreign coins?

Most banks, including TD Bank, do not exchange coins — only bills. Coins are harder to verify and process. If you have foreign coins, you will need to find a currency specialist or exchange them before you leave the country.

Can I exchange currency online through TD Bank's website?

TD Bank does not offer online currency exchange. You must visit a branch in person. Some online banks and transfer services do offer currency exchange, but TD Bank's service is branch-only.

What happens if the rate changes between when I call and when I arrive?

The rate you receive is the rate on the day you complete the transaction, not the day you call. Exchange rates change constantly. If you want to lock in a rate, use an online currency transfer service that allows you to reserve a rate for a set period.

Does TD Bank exchange cryptocurrency?

No. TD Bank exchanges only traditional foreign currency — bills and coins. The bank does not buy, sell, or exchange cryptocurrency of any kind.