Yes, Chase exchanges foreign currency, but not at every branch and not always at a good rate
Chase Bank does exchange foreign currency for customers, but the service works differently depending on where you go and what currency you need. Most Chase branches can order currency for you, though the process takes several business days and the exchange rate is set by Chase, not by the market. Some larger branches and travel centers handle cash exchanges on the spot, but availability varies widely by location and by currency.
The key thing to understand upfront: Chase's exchange rates are not competitive. The bank builds in a margin—sometimes 2 to 3 percent or more—on top of the actual market rate. If you are exchanging a large amount, that gap costs real money. For smaller amounts or if you need currency urgently and have no other option, Chase is convenient. For anything larger, other routes usually save you money.
Key Takeaways
- Chase can order foreign currency at most branches, but the order takes three to seven business days and you pay Chase's exchange rate, which includes a markup.
- Some Chase branches and travel centers exchange cash on the spot for major currencies like euros, pounds, and Canadian dollars, but you must call ahead to confirm availability.
- Chase charges no fee for currency exchange itself, but the exchange rate they offer is typically 2 to 3 percent worse than the market rate, which is how they profit.
- For amounts over $1,000 or if you need a better rate, independent currency exchanges, credit unions, or online services like Wise or OFX usually offer better value.
How to order currency through Chase
To order foreign currency at a Chase branch, walk in or call ahead and ask to speak with someone in customer service or the teller line. You will need to tell them which currency you want, how much, and when you need it. Chase will quote you an exchange rate on the spot—this is the rate you will pay when you pick up the currency, not the rate at the time of order.
The order typically takes three to seven business days. Chase sources the currency from a central location and ships it to your branch. You will be notified when it arrives, and you pick it up in person at the branch where you ordered it. You pay in US dollars at the time of pickup. There is no fee for the exchange itself, but as noted, the rate includes Chase's markup.
If you have a Chase checking or savings account, you can also order currency through Chase's website or mobile app in some cases, though this option is not available to all customers. Call your branch or check your app to see if this feature is turned on for your account.
Spot exchanges at Chase travel centers and larger branches
Some Chase locations, particularly travel centers in major cities and airports, can exchange cash on the spot without a wait. These branches typically stock the most common currencies—euros, British pounds, Canadian dollars, Japanese yen, Mexican pesos, and a few others. If you need currency today and one of these branches is near you, this is the fastest option.
The catch: not every Chase branch has this capability, and even branches that do may not stock every currency. You must call the specific branch before you go. Ask whether they have the currency in stock and whether they can exchange it the same day. Do not assume they can just because they are a large branch.
The exchange rate at a spot exchange is the same as for an ordered currency—Chase's rate, not the market rate. You still pay the markup. But you avoid the wait and you know immediately what you are getting.
What currencies Chase can exchange
Chase handles most major currencies: euros, British pounds, Canadian dollars, Japanese yen, Australian dollars, Swiss francs, Mexican pesos, and several others. For less common currencies—Thai baht, Philippine pesos, South African rand, and many others—Chase may be able to order them, but it takes longer and the rate may be less favorable because the bank has to source the currency from a third party.
Before you commit to ordering through Chase, ask them which currencies they can source and how long each one takes. If the currency you need is uncommon or if the timeline is tight, you may want to explore other options first.
Why Chase's rates are not competitive
Chase does not charge a separate fee for currency exchange, but the exchange rate itself is the fee. When you exchange $1,000 at Chase's rate versus the market rate, the difference in dollars is the cost to you. For a $1,000 exchange, a 2 percent markup means you lose $20. For $5,000, you lose $100.
Chase's markup covers their cost to source the currency, store it, and handle the transaction. It is how the bank makes money on the service. But it means Chase is most useful for small, urgent exchanges—not for moving large amounts of money or for planned trips where you have time to shop around.
Better options for larger amounts or better rates
If you are exchanging more than $1,000 or if you have time to plan, consider these alternatives:
- Credit unions: Many credit unions offer currency exchange to members at rates closer to market rate than Chase. Call your credit union first to see if they offer this service.
- Independent currency exchanges: Standalone currency exchange shops, often found in downtown areas or near airports, sometimes offer better rates than banks. Compare a few before you go.
- Online currency services: Wise (formerly TransferWise), OFX, and similar services offer mid-market rates—the actual market rate with a small, transparent markup. These work best if you are sending money abroad or need currency delivered, not if you need cash today.
- ATM withdrawals abroad: If you are traveling, withdrawing cash from an ATM in the destination country often gives you a better rate than exchanging before you leave, because ATM rates are usually closer to market rate.
For a one-time small exchange or if you need currency urgently and have no other option, Chase is fine. For anything else, the math usually favors looking elsewhere first.
What to bring when you exchange currency at Chase
Bring your government-issued photo ID—a passport, driver's license, or state ID. Chase may also ask for your account number if you are a customer, though this is not always required. If you are ordering currency, have the amount and currency type ready. If you are doing a spot exchange, bring the US dollars you want to exchange in cash or be prepared to withdraw from your account.
If you are exchanging a large amount—generally $10,000 or more—Chase will file a Currency Transaction Report (CTR) with the federal government. This is routine and legal; it does not mean anything is wrong. Just be aware it will happen.
Frequently Asked Questions
Does Chase charge a fee for currency exchange?
Chase does not charge a separate fee, but the exchange rate includes a markup of typically 2 to 3 percent. That markup is how the bank profits on the transaction. For a $1,000 exchange, the markup usually costs you $20 to $30.
How long does it take to get currency ordered through Chase?
Most orders take three to seven business days. Weekends and holidays add to the timeline. If you need currency for a trip, order at least a week in advance. Some common currencies may arrive faster; less common ones may take longer.
Can I exchange currency at any Chase branch?
You can order currency at most Chase branches, but spot exchanges (same-day cash) are only available at certain locations, mainly travel centers and larger branches in major cities. Call your branch first to confirm they can help you.
What if Chase does not have the currency I need?
Chase can order most major currencies, but some less common ones may take longer or may not be available at all. Ask your branch what they can source and the timeline. If Chase cannot help, try a credit union, an independent currency exchange, or an online service like Wise.
Is it cheaper to exchange money before I travel or after I arrive?
Usually it is cheaper to withdraw cash from an ATM in the destination country, because ATM rates are closer to the market rate than bank exchange rates. If you must exchange before you leave, shop around—Chase is rarely the best option for larger amounts.