Chase does exchange currency, but only at certain branches and with limits on the amounts and types of money they handle

Chase offers currency exchange — converting one country's money into another — at many of its branches, but not all. The service is not available online or by mail. You walk in with the foreign currency you want to exchange, and the branch either exchanges it on the spot or orders it for you if they do not have it in stock. Chase charges a fee for this service, and the exchange rate they offer is not the same as the rate you see on financial news websites.

The catch is that Chase has limits. They will not exchange every currency in the world, and they will not exchange damaged bills or coins. If you need a currency they do not stock regularly — say, the currency of a small country — they can order it, but it takes several business days and costs more.

Key Takeaways

  • Not every Chase branch exchanges currency; you need to call ahead to confirm your branch does and that they have the currency you need in stock.
  • Chase charges a fee for currency exchange on top of the exchange rate, so the amount you receive will be less than the published rate suggests.
  • If your branch does not have the currency in stock, Chase can order it, but the order takes several business days and carries a higher fee.
  • Chase will not exchange damaged, torn, or marked bills, or any coins, so the money must be in good condition and in paper form.
  • You do not need an account at Chase to exchange currency, but you do need to go in person with your cash.

Which Chase branches offer currency exchange

Chase does not publish a complete list of branches that exchange currency. The easiest way to find out is to call the branch you plan to visit and ask whether they offer the service. If they do, ask whether they have the specific currency you need in stock. Larger branches in major cities are more likely to offer currency exchange than smaller branches in rural areas.

If your local branch does not exchange currency, you can ask them to order it for you. The branch will contact Chase's currency center, and the currency will arrive in a few business days. You then return to the branch to pick it up and pay the fee.

What currencies Chase exchanges and what they do not

Chase exchanges the major currencies used in travel and business: US dollars, euros, British pounds, Canadian dollars, Japanese yen, Swiss francs, Australian dollars, and several others. They also exchange some less common currencies, but availability varies by branch and by time.

Chase will not exchange coins under any circumstances, even if they are in perfect condition. They will not exchange bills that are torn, marked, written on, or otherwise damaged. If a bill has a small tear or mark, the branch may refuse it. They also will not exchange currency that is no longer in circulation in its home country, even if it is in good condition.

How much the exchange costs

Chase charges two things: a fee and a less favorable exchange rate. The fee is a flat dollar amount or a percentage of the amount you exchange — Chase does not publish these rates publicly, so you need to ask your branch. The exchange rate Chase offers is also not the same as the "mid-market" rate you see on financial websites. The difference between what Chase offers and the mid-market rate is called the spread, and it is how the bank makes money on the transaction.

Because of the fee and the spread, exchanging a small amount of currency at Chase is often expensive. If you are exchanging a large amount, the percentage fee may be lower, but you should ask the branch for a quote before you commit.

How to exchange currency at a Chase branch

Bring your cash in the currency you want to exchange to a Chase branch during business hours. You do not need to be a Chase customer. Tell the teller you want to exchange currency and show them what you have. The teller will check the bills for damage and confirm they can exchange them.

If the branch has the currency in stock, the exchange happens right away. The teller will count your money, tell you the fee and the amount you will receive, and complete the transaction. If the branch does not have the currency in stock, the teller will take your information and place an order. You will be called when the currency arrives, usually in three to five business days. You then return to the branch to pick it up and pay the fee.

Alternatives to exchanging currency at Chase

If Chase's fees are too high or they do not have the currency you need, you have other options. Some credit unions exchange currency for members at lower fees. Currency exchange shops in major cities often offer better rates than banks, especially for large amounts. ATMs in the country you are visiting usually offer the best exchange rate, though you pay a small ATM fee.

If you are traveling, using a credit card or debit card in the destination country often costs less than exchanging cash beforehand. You pay the card's exchange rate, which is usually closer to the mid-market rate than what a bank or exchange shop offers. Some cards charge a foreign transaction fee, so check your card's terms before you travel.

What to bring and what to expect

Bring your cash in the original currency, your ID, and ideally a phone number where you can be reached if the branch needs to contact you about an order. You do not need an account at Chase or any special paperwork. The teller will ask how much you want to exchange and what currency you want to receive. Be prepared for the teller to inspect your bills closely — they are looking for damage, marks, or signs that the bill is counterfeit.

The whole transaction takes about ten minutes if the currency is in stock. If you are ordering currency, the initial visit takes five minutes, and the pickup visit takes another five to ten minutes.

Frequently Asked Questions

Do I need a Chase account to exchange currency?

No. You can walk into any Chase branch with cash and exchange it without an account. You will need to show a valid ID.

What if my bills are slightly damaged or have a small tear?

Chase's policy on damaged bills is strict, and it varies by branch. A small tear or mark may disqualify the bill. Call your branch ahead of time and ask whether they will accept your specific bills, or bring them in and let the teller inspect them.

How long does it take to order a currency that is not in stock?

Orders usually arrive in three to five business days. The branch will call you when the currency is ready for pickup. You then have a limited time to pick it up before Chase returns it to the currency center.

Is the exchange rate at Chase better or worse than other places?

Chase's rates are usually worse than ATMs in the destination country and worse than mid-market rates, but they may be competitive with currency exchange shops depending on the amount and the currency. Ask your branch for a quote and compare it to other options before you decide.

Can I exchange currency online or by mail?

No. Chase only exchanges currency in person at a branch. You cannot do it online, by phone, or by mail.