Yes, most banks can order euros for you, but it takes time and costs money

Your bank can get euros, but not from the teller drawer. Most U.S. banks order foreign currency from a regional Federal Reserve branch or a currency wholesaler, which takes three to ten business days. You pay an exchange rate that is worse than the mid-market rate (the real rate between banks), plus a flat fee or percentage markup—typically 2 to 3 percent on top of the exchange rate, sometimes more. A few banks waive the fee if you hold a premium account, but the exchange rate markup stays.

The speed and cost depend on how much you need and which bank you use. Large banks like Chase, Bank of America, and Wells Fargo can order euros at most branches. Credit unions and smaller regional banks may have to order through a correspondent bank, which adds time. Some banks require you to order a minimum amount—often €500 or €1,000—and a few will not order small amounts at all.

Key Takeaways

  • Your bank orders euros from a Federal Reserve branch or currency wholesaler, not from stock on hand, so you need to request them at least three to ten business days before you travel.
  • You pay the bank's exchange rate, which is 2 to 3 percent worse than the mid-market rate, plus sometimes a flat fee on top.
  • Large national banks usually have lower markups and faster turnaround than credit unions or small regional banks.
  • Ordering euros at your bank is most useful if you need a large amount, have time before your trip, or want to avoid the fees charged by airport currency exchanges.

How the ordering process works

Call your bank's foreign exchange desk or visit a branch in person. Tell them how many euros you need and when you need them. The bank will quote you an exchange rate (which includes their markup), calculate the total cost in dollars, and ask you to confirm. You then pay the bank in U.S. dollars, and they order the euros from their supplier.

The euros arrive at your branch within the timeframe the bank quoted—usually three to ten business days, depending on the amount and the bank's supplier. Some banks let you pick up the cash at your branch; others mail it to you. Ask which option is available and whether there is a fee to mail it. When the euros arrive, you go to the branch, show ID, and collect the cash.

A few banks now offer to load euros onto a prepaid travel card instead of handing you cash. This can be faster (sometimes next business day) and safer than carrying large amounts of cash, but the exchange rate markup still applies.

What the exchange rate markup really costs you

The mid-market rate—what banks pay each other—changes throughout the day. On any given day, it might be 1.10 dollars per euro. Your bank does not give you that rate. Instead, they quote you something like 1.13 dollars per euro, pocketing the 0.03 difference on every euro you buy. On €1,000, that is a €27 loss for you.

The markup varies by bank. Chase and Bank of America typically charge 2 to 2.5 percent. Smaller banks and credit unions often charge 3 to 4 percent. Some banks add a flat fee on top—$15 to $30—in addition to the percentage markup. Before you order, ask your bank for the exact rate they will charge and any fees. Write down the mid-market rate from that day (you can find it on XE.com or OANDA) and do the math yourself to see what you are actually paying.

Alternatives that may cost less

Airport currency exchanges charge even higher markups than banks—often 5 to 8 percent—so ordering from your bank before you travel is usually cheaper. However, if you need euros on short notice and your bank cannot deliver in time, an airport exchange is your only option.

Online currency services like Wise (formerly TransferWise), OFX, and Remitly offer better exchange rates than banks for large transfers, but they work differently: you send money electronically, and they deliver euros to a bank account or pick-up location abroad, not to you in the U.S. These services are useful if you are sending money to someone in Europe or if you have time to arrange a pickup in your destination city, but they do not hand you cash before you leave.

If you are traveling to Europe and plan to use a debit or credit card there, you may not need much cash at all. Many European merchants accept cards, and ATMs are common. Withdrawing euros from an ATM in Europe using your U.S. debit card often gives you a better exchange rate than ordering euros at home, though your bank may charge a foreign transaction fee ($2 to $5 per withdrawal). Do the math: if you need €200, a 3 percent bank markup costs about €6, while an ATM withdrawal with a $5 fee might cost less if the exchange rate is good.

What to ask your bank before you order

Call ahead or visit your branch and ask these questions: How many business days does the order take? What is the exchange rate they will charge, and are there additional fees? What is the minimum amount they will order? Can you pick it up at your branch, or will they mail it? If they mail it, is there a fee and how long does delivery take? Do they offer a travel card as an alternative?

Write down the answers and the exchange rate they quote. Compare it to the mid-market rate that day to see the true cost. If the markup is steep or the wait is too long, ask whether a different branch or a different bank in your area offers better rates. Some banks negotiate better rates for customers who maintain high balances or have multiple accounts.

Timing your order to avoid delays

Order euros at least one week before you travel, preferably two weeks. This gives the bank time to source the currency and get it to your branch without rushing. If you wait until three days before your flight, the bank may not be able to deliver in time, and you will have to use an airport exchange or withdraw from an ATM abroad.

Avoid ordering on a Friday if you need the euros by Monday—the bank may not be able to source them over the weekend. If you are traveling during a holiday week (Christmas, Thanksgiving, summer vacation), order even earlier because currency suppliers are slower and banks are understaffed.

If your bank cannot deliver euros in time, ask whether they can wire money to a European bank account for you, or whether they can load a travel card with euros faster than they can order cash. Some banks can load a card in 24 hours, which is faster than ordering physical cash.

Frequently Asked Questions

What if my bank says they cannot order euros?

Some very small banks or credit unions do not offer foreign currency ordering. Ask whether they can order through a correspondent bank (usually takes longer) or whether they can refer you to a larger bank in your area that does. You can also walk into a branch of a large national bank and order euros there, even if you do not have an account with them—though some banks reserve this service for account holders.

Can I order euros online instead of going to the branch?

A few large banks let you order through their website or app, but most require you to call or visit in person. Even if you order online, you still have to pick up the cash at a branch or arrange for it to be mailed. Check your bank's website or call to see whether online ordering is available.

Is it cheaper to order euros before I leave or withdraw them from an ATM in Europe?

It depends on the fees. If your bank charges a 3 percent markup on euros (about €6 per €200), and your debit card charges a $5 foreign ATM fee, the ATM is cheaper. But if your bank's markup is 2 percent and your card charges $5, they are roughly equal. Ask your bank for the exact markup and your card issuer for the ATM fee, then do the math for the amount you need.

Do I have to pay for the euros upfront, or can I pay when I pick them up?

Most banks require you to pay in dollars when you place the order, not when you pick up the euros. The bank deducts the dollar amount from your account immediately. A few banks let you pay when you pick up the cash, but this is uncommon—ask when you call to order.

What if the exchange rate drops after I order but before I pick up the euros?

You are locked into the rate the bank quoted you when you placed the order. If the rate improves before you pick up the cash, you do not benefit. If it worsens, you do not lose more. The bank guarantees the rate they quoted, so there is no surprise at pickup.