Yes, most banks can order euros for you, but it takes planning and costs money
Your bank can get you euros, but not from the teller drawer. Most banks order foreign currency through a wholesale supplier, which takes three to five business days. You pay an exchange rate that is worse than the mid-market rate — the difference between what your bank pays for the euros and what it charges you is how they make money on the transaction. Some banks charge a flat fee on top of that. A few large banks keep euros in stock and can hand them over same-day, but this is rare and the markup is usually steeper.
The process is straightforward: you call your bank's foreign exchange desk or visit a branch, tell them how many euros you need and when you need them, and they quote you a rate. You agree to it or you don't. If you agree, they order the currency and you pick it up or have it mailed to you. You pay in US dollars from your account.
Key Takeaways
- Most banks order euros through a wholesale supplier and need three to five business days, so plan ahead if you are traveling.
- Your bank's exchange rate includes a markup — you will pay more per euro than the mid-market rate, and the markup varies by bank.
- Some banks charge an additional flat fee for foreign currency orders, usually $10 to $25, so ask before you commit.
- Large banks with international branches sometimes stock euros and can sell them same-day, but the rate is usually worse than an advance order.
- ATM withdrawals abroad often give you a better rate than ordering euros at home, though you pay an ATM fee.
What the markup costs you
The exchange rate your bank quotes is not the rate you see on the news. That rate — called the mid-market rate — is what banks pay each other. Your bank buys euros at or near that rate from a currency wholesaler, then sells them to you at a higher rate. The difference is their profit.
How much higher depends on the bank and the amount. A typical markup is 2 to 3 percent on top of mid-market, meaning if mid-market is $1.10 per euro, you might pay $1.13. On $1,000 worth of euros, that is roughly $30 in markup. Some banks mark up more — 4 to 5 percent is not unusual — and some charge a flat fee of $10 to $25 on top of the percentage.
You will not know the exact markup until you ask, because banks do not advertise it. Call the foreign exchange desk and ask for the all-in cost: the rate they are quoting, any flat fee, and the total dollars you will pay for the amount you need.
How long it takes and what you need to do
Call your bank's foreign exchange desk or visit a branch in person. Have ready the amount of euros you need and the date you need them. The bank will quote you a rate and a pickup or delivery date. If you accept, you authorize the purchase and the bank orders the currency from its supplier.
Standard turnaround is three to five business days. If you need euros on a Friday, order by Tuesday at the latest. If you need them for a trip that leaves in two days, ask whether the bank can expedite — some can, but you may pay a rush fee. Weekend and holiday delays are common, so do not assume a Friday order will be ready by Saturday.
You pick up the euros in person at a branch, or the bank can mail them to you. Mailing adds a few days and carries a small risk of loss in transit, though banks usually insure it. Ask which option is faster for your situation.
When same-day pickup is possible
Large banks with significant international operations — Chase, Bank of America, Citibank, Wells Fargo — sometimes keep euros on hand at major branches in big cities. If your branch stocks euros, you can buy them same-day without the three-to-five-day wait. Call ahead to confirm they have the amount you need in stock.
The tradeoff is rate. Same-day euros usually carry a larger markup than advance orders, sometimes 4 to 5 percent or more. The bank is taking on the risk of holding that currency, and same-day convenience costs you. Compare the all-in price of same-day euros to the price of ordering ahead before you decide.
Smaller regional banks and credit unions rarely stock foreign currency. They order everything, so same-day is not an option. Ask your bank directly whether it keeps euros in stock.
ATM withdrawals abroad often beat bank ordering
If you are traveling to Europe, withdrawing euros from an ATM once you arrive usually costs less than ordering euros at home. You get a rate close to mid-market, minus an ATM fee of $2 to $5. That is often cheaper than the 2 to 5 percent markup your bank charges for ordering.
The catch is you need a debit card that works abroad and you need to know your PIN. Most US debit cards work in European ATMs, but some banks restrict international use — call yours before you travel. Also, some ATMs charge a fee on their end (the machine's bank), and your bank may charge a fee on your end. Ask your bank what it charges for foreign ATM withdrawals.
If you need euros before you leave — to pay for a ride to the airport or to have cash on arrival — ordering from your bank is the only option. But if you can wait until you land, the ATM route is usually cheaper.
Credit cards and currency exchange services as alternatives
Using a credit card abroad avoids the currency exchange altogether — the card issuer handles the conversion and charges you in dollars. The rate is usually close to mid-market, though the card issuer takes a small cut. If you are comfortable using plastic, this is often the cheapest way to pay in euros.
Currency exchange services like Wise (formerly TransferWise) and OFX let you order euros online and pick them up at a location or have them delivered. Their rates are often better than banks because they do not carry the overhead. Wise, for example, uses mid-market rates and charges a small flat fee. These services are worth comparing if you are ordering a large amount or if your bank's markup is steep.
The downside is that not all services have pickup locations everywhere, and delivery takes time. If you need euros fast and in person, your bank may still be the only option.
What to ask your bank before you order
Call the foreign exchange desk and ask these questions in order:
- Do you stock euros, or do you order them? If you order, how many business days?
- What is the exchange rate you are quoting for [amount] euros?
- Is there a flat fee for this order?
- What is the total cost in US dollars?
- Can I pick up in person, or do you mail? How long does mailing take?
- If I need this faster, can you expedite, and what does that cost?
Write down the rate and the total cost. If the bank quotes a rate that changes before you pick up, ask whether the rate is locked in or whether it can move. Most banks lock the rate once you agree, but confirm.
Frequently Asked Questions
Can I order euros online from my bank?
Some large banks let you order foreign currency through their website or mobile app, but most require a phone call to the foreign exchange desk. Even if you can start the order online, you usually have to confirm by phone and authorize the charge. Check your bank's website or call to see whether online ordering is available.
What if I need euros but my bank is closed?
If your bank is closed and you need euros urgently, a currency exchange service like Wise or a physical currency exchange office (often found in airports or tourist areas) can help. These services usually have worse rates than banks but faster turnaround. Plan ahead to avoid this situation.
Do I pay tax on euros I buy at my bank?
No. Buying foreign currency for personal travel is not a taxable transaction. You are straightforward converting one currency to another. If you are buying euros as an investment or for business, different rules may explore — ask a tax professional.
Can my bank refuse to order euros for me?
A bank can refuse if you do not have an account there or if the amount is unusually large and raises compliance questions. For normal travel amounts — a few hundred to a few thousand dollars — refusal is rare. If your bank refuses, try another bank or a currency exchange service.
What happens if the exchange rate drops after I order?
Once you agree to a rate and authorize the order, that rate is locked in. If the rate drops the next day, you still pay the rate you agreed to. This is why some people wait to order until closer to their trip — rates move constantly. But waiting also risks the bank running out of stock or needing more time to order.