Bank of America lets you order foreign currency in person at a branch, by phone, or online through their website — but the method you choose affects how long it takes and what you pay in fees.
Bank of America stocks about 80 currencies at their main branches and can order others. You need a Bank of America checking or savings account to place an order. The bank charges a markup on the exchange rate (typically 1 to 2 percent above the mid-market rate) plus a flat delivery fee if you order online or by phone. Picking up in person at a branch usually costs less.
Orders placed before 2 p.m. Eastern time on a business day may be ready the next business day at your branch. Orders placed after 2 p.m. or on weekends typically process the following business day. If you need currency urgently, in-person ordering at a branch with stock on hand is your fastest option.
Key Takeaways
- Bank of America customers can order foreign currency online, by phone, or in person at a branch, with in-person pickup usually costing less in fees.
- You must have an active Bank of America deposit account and valid ID to place an order or pick up currency.
- Orders placed before 2 p.m. Eastern time on a business day are often ready by the next business day, but less common currencies may take longer.
- The bank charges a markup on the exchange rate plus a flat fee for phone or online orders; in-person pickup at a branch avoids the delivery fee.
- You can check which currencies are in stock at your branch before ordering, and you can cancel an order up to the business day before pickup.
Ordering online through Bank of America's website
Log into your Bank of America online banking account and look for the "Foreign Exchange" or "Travel" section under services. You will enter the currency you need, the amount, and your preferred pickup branch. The website shows you the exchange rate and total fee before you confirm the order.
Online orders incur a flat delivery fee (typically $10 to $15, depending on the currency and amount). The system will tell you the earliest pickup date — usually the next business day if you order before 2 p.m. Eastern time. You will receive an email confirmation with your order number and the exact pickup date and time window.
You must pick up the currency in person at the branch you selected, during business hours, within 30 days of the order date. Bring your debit card or ID and your order confirmation number. If you do not pick up within 30 days, Bank of America will cancel the order and return the funds to your account.
Ordering by phone with Bank of America
Call Bank of America's foreign exchange line at 1-800-935-9935 (available Monday through Friday, 8 a.m. to 8 p.m. Eastern time). A representative will ask which currency you need, the amount, and your preferred pickup branch. They will quote you the exchange rate and fee before processing the order.
Phone orders also carry a flat delivery fee similar to online orders. The representative will confirm your pickup date and branch, usually the next business day if you call before 2 p.m. Eastern time. You will receive a confirmation number by email or phone.
Like online orders, you must pick up in person at your selected branch within 30 days. The same ID and confirmation number requirements apply.
Ordering in person at a Bank of America branch
Visit any Bank of America branch with your account information and ID. Ask a teller or banker about foreign currency. If the currency is in stock, you can often walk out with it the same day. If it is not in stock, the branch can order it for you, typically arriving by the next business day.
In-person orders at a branch usually have no delivery fee — you only pay the exchange rate markup. This makes in-person ordering the cheapest option if your branch has the currency in stock or can order it quickly. Call your branch ahead of time to confirm they carry the currency you need and to check current stock.
Bring a valid government-issued ID and your debit card or account information. The teller will process the order on the spot and give you a receipt with your order number and expected pickup date.
Understanding Bank of America's exchange rates and fees
Bank of America does not use the mid-market exchange rate (the rate you see on financial news sites). Instead, they add a markup of roughly 1 to 2 percent, depending on the currency. This markup is how the bank makes money on foreign exchange transactions. The exact markup varies by currency and changes daily.
Online and phone orders include a flat fee of $10 to $15 per transaction. In-person orders at a branch typically have no additional fee beyond the exchange rate markup. For large amounts, the percentage difference between the markup and the fee can be significant, so in-person ordering saves money.
Bank of America publishes their daily exchange rates on their website. You can check the rate before you place an order to see what you will pay. The rate shown is the rate you will receive at the time of pickup, not the time of order.
What currencies Bank of America stocks and how long orders take
Bank of America keeps about 80 currencies in stock at major branches. Common currencies like euros, British pounds, Canadian dollars, Japanese yen, and Mexican pesos are usually available same-day or next-day. Less common currencies may take three to five business days to arrive.
You can check which currencies your branch stocks by calling ahead or visiting the branch in person. The Bank of America website also lists available currencies, though stock varies by location. If your branch does not carry a currency, they can order it from another branch or from their currency supplier.
Orders placed before 2 p.m. Eastern time on a business day typically arrive by the next business day. Orders placed after 2 p.m. or on weekends are processed the following business day. Holidays and weekends do not count toward processing time.
Canceling or changing a foreign currency order
You can cancel an order up to the business day before your scheduled pickup date. Contact the branch where you placed the order or call the foreign exchange line at 1-800-935-9935. Provide your order number and request cancellation. The funds will be returned to your account within one to two business days.
You cannot change the amount or currency of an order after it is placed. If you need to adjust your order, you must cancel it and place a new one. This means you will pay the fee twice if you ordered online or by phone, so think carefully about the amount before you confirm.
If you pick up the currency and later decide you do not need it, Bank of America will exchange it back to US dollars at the same rate you received it, minus a small fee. This is only available within a short window (usually 30 days) and only if the currency is in the same condition you received it.
Frequently Asked Questions
Can I order foreign currency if I do not have a Bank of America account?
No. You must be a Bank of America customer with an active checking or savings account to order foreign currency. Non-customers can exchange currency at some Bank of America branches, but availability and rates vary by location. Call your local branch to ask if they offer this service.
What if I need currency faster than next-day delivery?
Visit a Bank of America branch in person and ask if they have the currency in stock. If they do, you can often leave with it the same day. Major branches in cities are more likely to have common currencies on hand. Call ahead to confirm before you go.
Do I have to pick up the currency at the same branch where I ordered it?
Yes. You must pick up at the branch you selected when you placed the order. You cannot transfer the order to a different branch. If you need to change the pickup location, you must cancel and place a new order.
What happens if I do not pick up my order within 30 days?
Bank of America will cancel the order automatically and return the funds to your account. The exchange rate used will be the rate from your original order date, not the current rate. Any fees you paid are not refunded.
Is the exchange rate locked in when I place the order?
No. The rate you see when you place the order is an estimate. The actual rate applied is the rate on the day you pick up the currency. Exchange rates change daily, so the final amount may be slightly different from what you saw online or over the phone.