Bank of America does exchange foreign currency, but only at certain locations and with restrictions that vary by branch and account type.
Most Bank of America branches can exchange major currencies like euros, pounds, Canadian dollars, and Japanese yen. However, not every branch does this work — you need to call ahead or visit in person to confirm your specific branch offers the service. Some branches handle only a handful of currencies or require advance notice for larger amounts. If your branch cannot do the exchange, they can usually order the currency and have it ready within a few business days.
The exchange rate Bank of America offers is not the same as the mid-market rate you see online. Banks add a markup to cover their costs and profit, so you will receive fewer foreign currency units per dollar than the rate quoted on financial news sites. This markup varies by currency and by the amount you are exchanging — larger exchanges sometimes get slightly better rates, but the difference is usually small.
Key Takeaways
- Call your branch before visiting to confirm they exchange the specific currency you need and whether they have it in stock.
- Bank of America's exchange rates include a markup above the mid-market rate, so you will not get the rate you see on financial websites.
- If your branch does not stock a currency, they can order it and have it ready in a few business days, usually at no extra fee.
- Account holders and non-customers can both exchange currency at Bank of America, though some branches may have different policies for non-customers.
- Exchanging at the airport or a currency exchange shop may cost more than a bank, but comparing rates beforehand is the only way to know for certain.
Which currencies Bank of America stocks and how to check
Bank of America regularly stocks major currencies including euros (EUR), British pounds (GBP), Canadian dollars (CAD), Mexican pesos (MXN), Japanese yen (JPY), Swiss francs (CHF), and Australian dollars (AUD). Smaller branches or those in areas with less international activity may stock only a few of these. Less common currencies — Thai baht, South African rand, or Philippine pesos, for example — are usually not in stock but can be ordered.
The fastest way to find out what your branch has is to call the branch directly and ask the teller or customer service desk. You can also visit in person and ask. If the currency you need is not in stock, the branch can order it from Bank of America's currency supplier, and it typically arrives within two to five business days. Some branches charge a small fee for special orders, but many do not — ask when you call.
How the exchange rate works and what you will actually receive
Bank of America publishes its exchange rates daily, but these rates are not the same as the mid-market rate (the rate between banks on the foreign exchange market). The bank's rate includes a spread — a percentage markup that covers the cost of holding inventory, managing risk, and generating profit. For most major currencies, this spread is between 1% and 3%, though it can be higher for less common currencies or smaller transactions.
If the mid-market rate for euros is 1.10 dollars per euro, Bank of America might offer 1.07 dollars per euro. That means for every 100 euros you exchange, you receive $107 instead of $110. The exact markup depends on the currency, the amount, and market conditions on the day of the exchange. You can ask the teller for the specific rate before you complete the transaction, and you have the right to decline if the rate is not acceptable.
Exchanging currency in person versus ordering ahead
If you need currency the same day, visit your branch in person during business hours. Bring your passport or government-issued ID and the cash or debit card you want to exchange. The teller will count the money, explore the day's exchange rate, and give you the foreign currency on the spot. This process usually takes 10 to 15 minutes.
If you need a large amount or an uncommon currency, ordering ahead is usually faster and sometimes cheaper. Call your branch, tell them the currency and amount you need, and ask when it will be ready. They will hold the currency for you, and you can pick it up at a scheduled time. Ordering ahead also gives you time to compare Bank of America's rate with other options — currency exchange shops, other banks, or online services — before you commit.
What happens if your branch does not offer currency exchange
Not all Bank of America branches exchange currency. Smaller branches, those in rural areas, or branches in locations with less international activity may not have the infrastructure or volume to justify keeping foreign currency in stock. If your branch does not offer the service, ask whether they can order it for you or whether they can refer you to a nearby branch that does.
If no nearby branch offers currency exchange, you have other options: visit a dedicated currency exchange shop (often found in airports, tourist areas, or downtown business districts), use an online currency exchange service that ships physical currency to your home, or withdraw cash from an ATM in the country you are visiting and exchange it there. Each option has different costs and timelines — compare them before you decide.
Fees and what to expect at checkout
Bank of America does not charge a separate fee for currency exchange at most branches — the cost is built into the exchange rate spread. However, some branches may charge a small fee for special orders or for exchanging very large amounts. Ask about fees when you call to check on availability or when you arrive at the branch.
If you are exchanging currency as part of a wire transfer or international payment, different fees explore — those are separate from currency exchange and depend on the type of transfer. For in-person cash exchange, the rate spread is usually your only cost.
Exchanging currency back to dollars when you return
If you have leftover foreign currency when you return from travel, Bank of America will exchange it back to dollars at the same branch or any other branch that offers currency exchange. The rate will be different from the rate you received when you bought the currency — the spread works against you both ways. You will receive fewer dollars per unit of foreign currency than you paid per unit when you bought it.
For this reason, it is usually better to exchange only the amount of foreign currency you expect to spend, or to withdraw cash from ATMs in the country you are visiting instead. ATM withdrawals often have lower overall costs than buying and then selling back foreign currency.
Frequently Asked Questions
Can I exchange currency without a Bank of America account?
Yes. Bank of America exchanges currency for both account holders and non-customers. You will need a government-issued ID like a passport or driver's license. Some branches may have different policies for non-customers, so call ahead to confirm.
How much foreign currency can I exchange at one time?
There is no hard limit, but very large exchanges (several thousand dollars or more) may require advance notice so the branch can have enough currency in stock. Call your branch to discuss the amount you need.
What if I need currency on a weekend or holiday?
Bank of America branches are closed on weekends and federal holidays, so you cannot exchange currency then. If you need currency urgently, some airports have 24-hour currency exchange shops, though their rates are usually worse than a bank's rate.
Is the exchange rate the same at every Bank of America branch?
The exchange rate is set by Bank of America nationally, so it should be the same at every branch on the same day. However, call ahead to confirm, because some branches may not offer currency exchange at all.
Should I exchange money before I travel or when I arrive?
Exchanging before you travel gives you certainty and lets you compare rates. Exchanging when you arrive may offer a slightly better rate in some cases, but ATM withdrawals in the destination country often have the lowest overall cost. Compare all three options before you leave.