Bank of America will exchange foreign currency, but only at certain locations and with limits on the amounts and types of currency they accept
Bank of America operates a foreign exchange service through its retail branches and online banking platform, but the process is not available everywhere and comes with restrictions. Not every branch handles currency exchange — you will need to call ahead or visit a location that offers the service. The bank exchanges major world currencies (euros, British pounds, Canadian dollars, Japanese yen, Swiss francs, Australian dollars, and others), but they do not exchange every currency in circulation, and they charge a markup on the exchange rate you see quoted publicly.
If you are a Bank of America customer, you can order foreign currency through your online banking account or by visiting a branch in person. Non-customers can exchange currency at a branch, but availability and terms may differ. The bank typically requires at least a few business days' notice for larger orders, since many branches do not keep large quantities of foreign cash on hand.
Key Takeaways
- Bank of America exchanges foreign currency at select branches, not all locations, so you must call your branch first to confirm they offer the service.
- The bank charges a markup above the mid-market exchange rate, meaning you will receive less currency than if you exchanged at the wholesale rate.
- You can order currency online through your Bank of America account or in person at a branch, but orders typically take two to five business days.
- Bank of America does not exchange all world currencies — they focus on major currencies used in developed economies.
- Bringing your passport or government ID is required when exchanging currency in person, and the bank may ask about the purpose of the exchange.
Which currencies Bank of America will and will not exchange
Bank of America exchanges the currencies of major trading partners and developed economies. This includes euros, British pounds, Canadian dollars, Japanese yen, Swiss francs, Australian dollars, New Zealand dollars, Norwegian krone, Swedish krona, Danish krone, Mexican pesos, and a handful of others. The exact list varies by branch and changes over time based on demand and supply.
The bank does not exchange currencies from smaller or less-traded economies, emerging markets, or countries under economic sanctions. If you need currency from a country not on Bank of America's list — such as Vietnamese dong, Thai baht, Philippine pesos, or currencies from parts of Africa or Central Asia — you will need to use a currency exchange specialist, an international money transfer service, or arrange the exchange before you travel.
To find out whether Bank of America exchanges a specific currency, call your local branch directly or log into your online banking account and look for the foreign exchange section. Do not assume a currency is available just because it is widely used; availability depends on the branch's location and customer demand.
How to order foreign currency through Bank of America
If you are a Bank of America customer, the fastest route is usually your online banking account. Log in, navigate to the foreign exchange or travel section, and select the currency and amount you need. The system will show you the exchange rate the bank is offering and the total cost in US dollars. You can then choose to pick up the currency at your nearest branch or have it delivered to your home, depending on the amount and your account status.
For orders placed online, Bank of America typically needs two to five business days to source the currency and prepare it for pickup or delivery. If you need currency urgently — within 24 hours — call your branch directly and ask whether they have the currency in stock. Some high-traffic branches in major cities keep common currencies available for same-day or next-day pickup, but this is not may provide.
If you do not have a Bank of America account, you can still exchange currency at a branch in person. Bring your passport or government-issued ID, the amount of US dollars you want to exchange, and ask to speak with a teller about foreign exchange. The branch will quote you a rate, and if you accept it, they will process the exchange on the spot or order the currency for later pickup.
Understanding Bank of America's exchange rates and fees
Bank of America does not exchange currency at the mid-market rate — the rate you see on financial websites and currency converters. Instead, they add a markup, typically between 2 and 5 percent above the mid-market rate, depending on the currency and market conditions. This markup is how the bank makes money on foreign exchange transactions.
For example, if the mid-market rate for euros is 1 USD = 0.92 EUR, Bank of America might offer you 1 USD = 0.88 EUR or worse. The difference may seem small on a small exchange, but on larger amounts it adds up quickly. A $1,000 exchange with a 3 percent markup costs you roughly $30 in hidden fees.
Bank of America does not charge a separate transaction fee for currency exchange — the markup is the only cost. However, if you order currency online and request home delivery, some account types may be charged a delivery fee. Check your account terms or ask the branch before you order.
Comparing Bank of America to other currency exchange options
Bank of America is convenient if you are already a customer and need a small to moderate amount of currency, but it is not the cheapest option. Specialty currency exchange services like XE, OFX, and Wise (formerly TransferWise) typically offer rates closer to mid-market, especially for larger amounts. Credit unions sometimes offer better rates to members than banks do. Airport currency exchange kiosks are usually the most expensive option and should be avoided if possible.
If you are exchanging a large amount — $5,000 or more — it is worth getting quotes from at least two other providers before you exchange at Bank of America. The difference in rate can save you hundreds of dollars. For smaller amounts under $500, the convenience of exchanging at your local branch may outweigh the slightly higher cost.
If you are sending money to another country rather than exchanging cash, consider international money transfer services instead. These services often offer better rates than currency exchange for transfers, and they move the money directly to a bank account abroad without you having to carry physical currency.
What to bring and what to expect when you exchange currency in person
When you visit a Bank of America branch to exchange currency, bring your passport or government-issued ID. The bank is required by federal law to verify your identity for currency transactions. Bring the US dollars you want to exchange in cash or be prepared to withdraw them from your account at the branch.
The teller will ask you how much currency you need and in what denominations (for example, all $20 bills or a mix). They will quote you the exchange rate, show you the calculation, and ask you to confirm before processing. If the branch does not have the currency in stock, they will offer to order it for you, typically with pickup in two to five business days.
The bank may also ask you the purpose of the exchange — this is a standard compliance question and does not affect your ability to exchange currency. You can simply say you are traveling, sending money to family, or conducting business abroad.
What to do if your local Bank of America branch does not offer currency exchange
Not all Bank of America branches exchange foreign currency. Smaller branches in rural areas or towns with low international travel may not offer the service. If your branch does not, you have a few options: visit a larger Bank of America branch in a nearby city, order currency online for delivery to your home, or use a different provider.
To find a Bank of America branch that exchanges currency, call your local branch first and ask. If they do not offer the service, ask them to recommend the nearest branch that does. You can also search the Bank of America website for branches and filter by services offered, though the online tool is not always up to date.
If traveling is not practical, consider ordering currency online through your Bank of America account and having it delivered. Delivery typically takes five to seven business days, so plan ahead if you have a specific travel date.
Frequently Asked Questions
Can I exchange foreign currency I already have back into US dollars at Bank of America?
Yes, Bank of America will exchange foreign currency back into US dollars at most branches that offer currency exchange. Bring the foreign currency in its original form (bills, not coins), your ID, and the bank will quote you a rate. The same markup applies, so you will receive slightly less than the mid-market rate.
Do I need to be a Bank of America customer to exchange currency?
No, non-customers can exchange currency at a Bank of America branch in person. You will need a valid ID and the US dollars you want to exchange. However, online ordering and home delivery are only available to account holders.
How long does it take to receive foreign currency if I order online?
Bank of America typically needs two to five business days to source and prepare currency for pickup or delivery. If you need currency faster, call your branch to ask whether they have it in stock for same-day or next-day pickup. Delivery to your home usually takes an additional two to three business days after the currency is ready.
What is the maximum amount of foreign currency I can exchange at Bank of America?
Bank of America does not publish a hard limit on currency exchange amounts. However, very large exchanges (over $10,000) may trigger additional compliance questions or require advance notice. Call your branch to discuss large orders before you visit.
Does Bank of America exchange cryptocurrency or digital currencies?
No, Bank of America does not exchange cryptocurrency, Bitcoin, or other digital currencies. They only exchange physical foreign currency bills. If you need to convert cryptocurrency to US dollars, you will need to use a cryptocurrency exchange platform.